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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

  • #30,181
  • Jul 10, 2017 9:39am Jul 10, 2017 9:39am
Quoting civo
{quote} 21320 was the 61.8 correction from the last swing up. see chart below its the 1597 tick chart. thats why i skipped the short {image}
Thanks I missed that!
  • #30,182
  • Jul 10, 2017 9:40am Jul 10, 2017 9:40am
Quoting civo
long {image}
move SL to +1
  • #30,183
  • Jul 10, 2017 9:42am Jul 10, 2017 9:42am
Quoting vqtrader
{quote} I am waiting for short term to agree before I get in (below 21347)
The short time did a 100% correction. Not good at all!
  • #30,184
  • Jul 10, 2017 9:43am Jul 10, 2017 9:43am
Quoting jmezz
NQ + 19.75 YM +7 {image} {image}
NQ 19.75, -3.75, 9 = +25.

Couple more on NQ, now prob done.

Attached Image (click to enlarge)
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  • #30,185
  • Jul 10, 2017 9:45am Jul 10, 2017 9:45am
Quoting civo
{quote} move SL to +1
TP is at 21374
  • #30,186
  • Jul 10, 2017 9:48am Jul 10, 2017 9:48am
Quoting civo
{quote} 21320 was the 61.8 correction from the last swing up. see chart below its the 1597 tick chart. thats why i skipped the short {image}
Trailinstop hit +13
  • #30,187
  • Jul 10, 2017 9:49am Jul 10, 2017 9:49am
Quoting civo
{quote} Trailinstop hit +13
Well read!
  • #30,188
  • Jul 10, 2017 9:50am Jul 10, 2017 9:50am
Quoting Milfortra
{quote} Well read!
Thanks !
  • #30,189
  • Jul 10, 2017 9:55am Jul 10, 2017 9:55am
Out with -20PIPs
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-17 (233 Tick) 2017_07_10 10.54pm.png Size: 101 KB
  • #30,190
  • Jul 10, 2017 9:56am Jul 10, 2017 9:56am
Quoting Milfortra
Out with -20PIPs {image}
Placement of SL wasn't the best but wanting to see if I read the expectation correctly.
  • #30,191
  • Jul 10, 2017 9:56am Jul 10, 2017 9:56am
Quoting Milfortra
Out with -20PIPs {image}
too bad man next will be better
  • #30,192
  • Jul 10, 2017 9:58am Jul 10, 2017 9:58am
Quoting PeterT
{quote} Thanks I missed that!
no problem
  • #30,193
  • Jul 10, 2017 10:03am Jul 10, 2017 10:03am
Quoting civo
{quote} too bad man next will be better
Yup. On to the next...
  • #30,194
  • Jul 10, 2017 10:08am Jul 10, 2017 10:08am
nothing for me today. I will try to check in and trade with guys/gals soon. many blessings
Attached Image (click to enlarge)
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Empower Your Mind
  • #30,195
  • Jul 10, 2017 10:14am Jul 10, 2017 10:14am
Quoting PeterT
{quote} Very nice jmezz glad you caught the long eventually I was wondering.. Do you still assume strength in a level when it was crossed several times? Price crossed the open several times as if it didn't exist. Can I ask why do you still assume it has any value? Or maybe it was just a marker you used to explain where you would go long? (cuz there were other reasons to go long besides the open holding of course..)
Yeah typically if price crosses a level multiple times then that level will lose validity, but in this case there was some confluence right around there and also if you look, price tried to break 304 4 times. It held the 50 then bounced up but the important part for me was the pullback into the open. It was a very slow pullback into the level, but also look at the bodies of the bars. At the beginning of the pullback the sell bars had large bodies but as it neared that level the sell bodies became very small and we started to see more wicks on the bottom of the bars. 1 bar tested the open and was rejected. Another sell bar tested the open again and was rejected. Although it had a lower close, it was unable to close beneath the open nor the low of the bar that tested the open. Then price tested the open / 382 and was rejected, closing back above the open. I saw bars try to rotate up and I entered a little too early but it worked out this time.

I was looking higher because the IB stat was still open and it looked to me like price wanted to break it to the upside vs the downside. ALso, since price was unable to test lower below 304, I thought that it would attempt to test the start of the leg we were retracing (which it did).
  • #30,196
  • Jul 10, 2017 10:20am Jul 10, 2017 10:20am
Was looking for that long but when price touched structure the rotation wasn't very strong compared to the last bearish candle.
Waiting to see if we'll get another opportunity for a long.
Attached Image (click to enlarge)
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  • #30,197
  • Jul 10, 2017 10:21am Jul 10, 2017 10:21am
Quoting PeterT
{quote} Hello crixus thanks for your view on this. I'm still learning and I really appreciate every comment and opinion. Very interesting how you identified that range and the above-below zones. I remember looking at this longer term picture before the start of the session and all I saw was messy orderflow with no clear NSLs or NSHs. This sheds a different light on it :-) Second picture I have difficulties interpreting the volume bars in conjunction with the candles, and deriving the conclusion that the bears are not interested. I do see the first...
I always had the most difficult time interpreting what exactly volume means in the grand scheme of PA, for the longest time I thought it was simply useless.

It helped me to think of it as 'gas' for a move... So a low volume pullback / pullback with volume declining would be interpreted as a pullback with not much / fading participation from sellers. You could also look at it as profit-taking.

For me personally, using volume that way doesn't really help me out in my analysis.

I think it's more powerful if you use it for divergences ie a new high created on less volume than a prior high, or a new low created on less volume than a prior low.

Edit - Quick examples of volume divergences.

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  • #30,198
  • Jul 10, 2017 10:36am Jul 10, 2017 10:36am
Calling it a day. Not the best way to start my week but looking forward to another trading day. Good luck and take care traders!
  • #30,199
  • Jul 10, 2017 10:39am Jul 10, 2017 10:39am
see you all tomorrow
  • #30,200
  • Jul 10, 2017 10:40am Jul 10, 2017 10:40am
Time for me to stop for the day

Result:

NQ: +15

Price just seem to stop me out before continuing on the direction. something seems to be wrong with my SL adjustment.
Attached Image (click to enlarge)
Click to Enlarge Name: NQ 09-17 (377 Tick) 2017_07_10.png Size: 96 KB
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