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Ratios & Harmonics: a Different Way to Trade

  • #31,041
  • Aug 20, 2017 9:19pm Aug 20, 2017 9:19pm
Welcome back Damian!
  • #31,042
  • Aug 21, 2017 1:41am Aug 21, 2017 1:41am
Quoting brrand
{quote} Thanks a lot Mr Pip, for the reply. For instance in the attached chart, the long term order flow is to get a new structure low. However, price was rejected twice at the bottom and bulls came in pretty sharp and made a NSH in the short term. So, there seems to be a conflict between longer term and short term order flow....what should we do in this situation (apart fro sitting out-can we go long?). {image} Looking forward to 30th. Thanks
You can trade the correction of the long term by using the short term expectation. However you should be aware of the fact that the overall expectation is for a LH and a NSL on the long term, so if you enter long on the short term you should consider where that LH (PRZ on the long term) should be for the longer term and manage the trade according to the PA that is going to develop in that zone.
Does this make sense?
  • #31,043
  • Aug 21, 2017 3:07am Aug 21, 2017 3:07am
USDJPY Analysis

Intraday: NSL
- UK opened with completing a 1:1 harmonics
- Good structure there so waiting for the bulls to react to this

Expectation: Would like the bulls to react and take price to the 50-61.8 Fib, Good structure there as well and if they complete a harmonics then would consider shorts there. SOS 3 complete in that zone. There is an opportunity to go long at this hour but don’t feel like playing ballsy today

Longterm: NSL
- There is confluence between the intraday and long term
- Market is overall bearish correcting to the swing shown in 15m chart

Expectation: Need the bulls to push it there but price does what it wants so will look for adjustments or change in direction. I hope that doesn’t happen. Wanna get those 20 pips easily for once
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 210817 5m.JPG Size: 110 KB
Click to Enlarge Name: usdjpy 210817 15m.JPG Size: 111 KB
  • #31,044
  • Aug 21, 2017 3:53am Aug 21, 2017 3:53am
Quoting brrand
{quote} Thanks a lot Mr Pip, for the reply. For instance in the attached chart, the long term order flow is to get a new structure low. However, price was rejected twice at the bottom and bulls came in pretty sharp and made a NSH in the short term. So, there seems to be a conflict between longer term and short term order flow....what should we do in this situation (apart fro sitting out-can we go long?). {image} Looking forward to 30th. Thanks
Hi Brrand,

There is an opportunity to go long but you wouldn't make much pips in that. Because once you draw a fib of the long swing that you are looking at, it shows that the market is bearish. And price is correcting off that swing. Expectation is a NSL, so if the market would have to react, it would be in your 50 to 61.8 Fib zone. There's good structure which means price has made important transactions in that zone. Play the expectation for now...once you get better, you'll figure out how to trade the corrections as well
  • #31,045
  • Aug 21, 2017 4:24am Aug 21, 2017 4:24am
have i got this projection right? up to the 50 not the 61.8 as that would make a NSH in short term correct?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 74 KB
  • #31,046
  • Aug 21, 2017 4:42am Aug 21, 2017 4:42am
Quoting RajD
USDJPY Analysis Intraday: NSL - UK opened with completing a 1:1 harmonics - Good structure there so waiting for the bulls to react to this Expectation: Would like the bulls to react and take price to the 50-61.8 Fib, Good structure there as well and if they complete a harmonics then would consider shorts there. SOS 3 complete in that zone. There is an opportunity to go long at this hour but don’t feel like playing ballsy today Longterm: NSL - There is confluence between the intraday and long term - Market is overall bearish correcting to the swing...
A small change on the USDJPY Analysis Intraday

- Market has completed 2 large harmonics and 3 short term harmonics at structure
- Market is correcting off the swing as shown in chart..since that is the harmonic line

Expectation: Mondays are normally slow and if price could come to the 50-61.8 Fib then would look for the short. Will look to see how price gets there before i make a decision
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 210817 5m.JPG Size: 111 KB
  • #31,047
  • Aug 21, 2017 5:05am Aug 21, 2017 5:05am
Quoting Neil0163
have i got this projection right? up to the 50 not the 61.8 as that would make a NSH in short term correct? {image}
Exactly that's how am reading it....
But anything can happen
  • #31,048
  • Aug 21, 2017 5:12am Aug 21, 2017 5:12am
Quoting KensTrader
{quote} Exactly that's how am reading it.... But anything can happen
Are you going to play the long for the short term or wait?
  • #31,049
  • Aug 21, 2017 5:18am Aug 21, 2017 5:18am
Quoting Neil0163
{quote} Are you going to play the long for the short term or wait?
Am already long
It is an ABCD pattern.
Thats why i went long
  • #31,050
  • Aug 21, 2017 5:19am Aug 21, 2017 5:19am
EUR/JPY ?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 148 KB
  • #31,051
  • Aug 21, 2017 5:24am Aug 21, 2017 5:24am
Quoting RajD
{quote} A small change on the USDJPY Analysis Intraday - Market has completed 2 large harmonics and 3 short term harmonics at structure - Market is correcting off the swing as shown in chart..since that is the harmonic line Expectation: Mondays are normally slow and if price could come to the 50-61.8 Fib then would look for the short. Will look to see how price gets there before i make a decision {image}
your posts are extremly helpfull
  • #31,052
  • Aug 21, 2017 5:44am Aug 21, 2017 5:44am
Quoting RajD
{quote} A small change on the USDJPY Analysis Intraday - Market has completed 2 large harmonics and 3 short term harmonics at structure - Market is correcting off the swing as shown in chart..since that is the harmonic line Expectation: Mondays are normally slow and if price could come to the 50-61.8 Fib then would look for the short. Will look to see how price gets there before i make a decision {image}
USDJPY Update

- Market close to my AOI
- Possible harmonic completion as shown in chart
- SOS 3 completion in that area

Action: Will look for harmonic completion and good rotating candle for confirmation
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 210817 Upd.JPG Size: 107 KB
  • #31,053
  • Aug 21, 2017 6:08am Aug 21, 2017 6:08am
Quoting x3m-PippiN
{quote} You can trade the correction of the long term by using the short term expectation. However you should be aware of the fact that the overall expectation is for a LH and a NSL on the long term, so if you enter long on the short term you should consider where that LH (PRZ on the long term) should be for the longer term and manage the trade according to the PA that is going to develop in that zone. Does this make sense?
Makes Sense X3M. What would be the factors to arrive at that PRZ?
  • #31,054
  • Aug 21, 2017 6:13am Aug 21, 2017 6:13am
Hey guys, im about to start forward testing on a demo account, but i can't decide on which pairs to start.

I'm looking for smooth moving charts that are easier to read in harmonic patterns. Charts with choppy action and huge spikes are hard to deal with.
For example, i was practicing on market replay, when i was in long position with one of the GBP pair, it would crash down for a couple minutes, hit my stop (properly placed under the main swing) and shortly after shoot back up to hit my expectation target without me being in the position. I want to avoid things like that

Any suggestions on pairs or how to find the most efficient and profitable pairs for myself ?
  • #31,055
  • Aug 21, 2017 6:23am Aug 21, 2017 6:23am
Quoting Neil0163
have i got this projection right? up to the 50 not the 61.8 as that would make a NSH in short term correct? {image}
What you are looking at is long term...short term is the 5 min chart
  • #31,056
  • Aug 21, 2017 7:06am Aug 21, 2017 7:06am
Quoting RajD
{quote} USDJPY Update - Market close to my AOI - Possible harmonic completion as shown in chart - SOS 3 completion in that area Action: Will look for harmonic completion and good rotating candle for confirmation {image}
Long at 109.048
Stop Loss at 108.880

- It is against expectation. However i would like price to complete the harmonics. I could be wrong so i reduced my trade size and put profit targets right above harmonic completion
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 210817 Act.JPG Size: 120 KB
  • #31,057
  • Aug 21, 2017 7:17am Aug 21, 2017 7:17am
Quoting brrand
{quote} Makes Sense X3M. What would be the factors to arrive at that PRZ?
Momentum, projection, depth and possibly 1 to 1 harmonic moves.
In your case the long term made a very weak NSL so the expected correction is a deep one. Your PRZ or AOI (area of interest) would be around the 61.8/78.6 fib level.
  • #31,058
  • Aug 21, 2017 8:35am Aug 21, 2017 8:35am
Quoting RajD
{quote} Long at 109.048 Stop Loss at 108.880 - It is against expectation. However i would like price to complete the harmonics. I could be wrong so i reduced my trade size and put profit targets right above harmonic completion {image}
Loss -16 pips

Price corrected off the smaller swing. Paid the price to go against the market. will look for re entry
  • #31,059
  • Aug 21, 2017 8:37am Aug 21, 2017 8:37am
Happy Solar Eclipse Day to everyone. Lets see if the market does anything today.
If you fail to plan, you plan to fail.
  • #31,060
  • Aug 21, 2017 8:38am Aug 21, 2017 8:38am
Let's remember the live stream on the 30 of Aug. Make yourselves available to join in and participate.
If you fail to plan, you plan to fail.
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