Ratios & Harmonics: a Different Way to Trade | Page 1557 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #31,121
  • Aug 24, 2017 10:18am Aug 24, 2017 10:18am
Quoting RajD
USDJPY Update Market might be looking to correct 100% or the harmonic line as shown in chart. Either way indicates deep correction to 61.8-78.6. Opportunity to re-enter there {image}
Short at 109.298
Stop Loss 109.467

Putting profit targets on the harmonic completion. The rotating candle was the best i've seen so far and i'm close to ending my session
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 240817 2ndtrade.JPG Size: 119 KB
  • #31,122
  • Aug 24, 2017 10:32am Aug 24, 2017 10:32am
Quoting Mr. Pip
{quote} We will see how this turns out.
Come on bulls!

Hope the bears tire out soon.
  • #31,123
  • Aug 24, 2017 10:41am Aug 24, 2017 10:41am
Quoting Milfortra
{quote} Come on bulls! Hope the bears tire out soon.
They did not get thew memo. I had two really big wins last week so if I get hit here it's no big deal.
If you fail to plan, you plan to fail.
  • #31,124
  • Aug 24, 2017 10:45am Aug 24, 2017 10:45am
Traders, don't forget the live stream next Wednesday. Tell all your friends!
If you fail to plan, you plan to fail.
  • #31,125
  • Aug 24, 2017 10:57am Aug 24, 2017 10:57am
Quoting Mr. Pip
This longer term trade keeps messing with me. I got in it yesterday early in the day. Finally starting to look a bit better. I was concerned about the bears strength when I looked at it this morning. {image}
May I know how will you manage positions if price doesn't touch TP & SL by the end of today session?
  • #31,126
  • Aug 24, 2017 11:21am Aug 24, 2017 11:21am
Yesterday I practiced greed, today- leaving money on the table. Hey, it's discretionary trading, you make a decision and you live with it. I wonder what tomorrow brings.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM 09-17 (233 Tick) 8_24_2017.jpg Size: 109 KB
Click to Enlarge Name: YM 09-17 (233 Tick).2 8_24_2017.jpg Size: 143 KB
Click to Enlarge Name: YM 09-17 (233 Tick).3 8_24_2017.jpg Size: 230 KB
Always trade your own plan...I don't provide trading signals.
  • #31,127
  • Edited 2:58am Aug 25, 2017 2:01am | Edited 2:58am
USDJPY Analysis

Intraday: NSH
- Market made a NSH around 1am GMT and is correcting off the swing as shown in the 5m chart
- 3 harmonic completion at the NSH
Expectation: Market to make a weak NSH or retest the highs. Very good structure in that region. So will look to see what price does

Longterm: NSL
- Market is overall bearish long term
- Market is currently in correction off the clear swing in the 15m chart
Expectation: Price is already at my AOI region. There is structure there and a harmonic completion confirms my SOS 3
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 250817 5m.JPG Size: 104 KB
Click to Enlarge Name: usdjpy 250817 15m.JPG Size: 119 KB
  • #31,128
  • Aug 25, 2017 6:41am Aug 25, 2017 6:41am
This longer term trade has not really gone anywhere. I've spent more time on the pain train and anything else. What a ball buster should I just take the 11K profit and be happy or should I just follow my trade plan? Tough one to answer.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-17 (1597 Tick) 2017_08_25.png Size: 69 KB
If you fail to plan, you plan to fail.
  • #31,129
  • Aug 25, 2017 7:04am Aug 25, 2017 7:04am
Quoting Mr. Pip
This longer term trade has not really gone anywhere. I've spent more time on the pain train and anything else. What a ball buster should I just take the 11K profit and be happy or should I just follow my trade plan? Tough one to answer. {image}
Follow your plan. You've stuck with it this far. If it goes on and hits your target (which IMHO I see no reason for it not to do as that must still be the expectation, right?) then the pain will have all been worth it. If you cut it and it hits your target that's just going to feel painful too. If it fails (and it were me) I would shrug my shoulders, forget about it and the pain would be forgotten too.

I would also ask, if you're feeling pain is it because the trade size is larger than you're comfortable with? Maybe trimming the trade size would help. That way you take some money off the table and remain in the trade.
  • #31,130
  • Aug 25, 2017 7:13am Aug 25, 2017 7:13am
Quoting Mr. Pip
This longer term trade has not really gone anywhere. I've spent more time on the pain train and anything else. What a ball buster should I just take the 11K profit and be happy or should I just follow my trade plan? Tough one to answer. {image}
Follow the trading plan. It even looks more healthier than yesterday.
Good luck.... You don't even need luck if you follow the plan
  • #31,131
  • Aug 25, 2017 7:30am Aug 25, 2017 7:30am
Quoting Mr. Pip
This longer term trade has not really gone anywhere. I've spent more time on the pain train and anything else. What a ball buster should I just take the 11K profit and be happy or should I just follow my trade plan? Tough one to answer. {image}
Can you post your 244 chart as well plz
  • #31,132
  • Aug 25, 2017 7:39am Aug 25, 2017 7:39am
Quoting RajD
USDJPY Analysis Intraday: NSH - Market made a NSH around 1am GMT and is correcting off the swing as shown in the 5m chart - 3 harmonic completion at the NSH Expectation: Market to make a weak NSH or retest the highs. Very good structure in that region. So will look to see what price does Longterm: NSL - Market is overall bearish long term - Market is currently in correction off the clear swing in the 15m chart Expectation: Price is already at my AOI region. There is structure there and a harmonic completion confirms my SOS 3 {image} {image}
USDJPY Update

- Price might look to completing the harmonics
- Will look for shorts then

PS: If anyone is in the trade already place your stop loss above the harmonic completion. The structure stoploss might be taken out
Attached Image (click to enlarge)
Click to Enlarge Name: usdjypy 250817 upd.JPG Size: 97 KB
  • #31,133
  • Aug 25, 2017 7:50am Aug 25, 2017 7:50am
This is what I would like happening. Harmonics down into structure, looking for 50% retracement prefererably. It falls perfectly into a round number as well. A 1:1 move to the upside is the target. We`ll see!
Attached Image (click to enlarge)
Click to Enlarge Name: ym-screen.PNG Size: 87 KB
  • #31,134
  • Aug 25, 2017 7:50am Aug 25, 2017 7:50am
Quoting RajD
{quote} Can you post your 244 chart as well plz
I don't use 244 and that would add nothing as they are different order flows. Here is the chart for you.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-17 (233 Tick) 2017_08_25.png Size: 52 KB
If you fail to plan, you plan to fail.
  • #31,135
  • Aug 25, 2017 7:59am Aug 25, 2017 7:59am
Quoting Mr. Pip
{quote} I don't use 244 and that would add nothing as they are different order flows. Here is the chart for you. {image}
I would take the profit (11k). There was enough pain in this trade.
  • #31,136
  • Aug 25, 2017 8:10am Aug 25, 2017 8:10am
Quoting Mr. Pip
{quote} I don't use 244 and that would add nothing as they are different order flows. Here is the chart for you. {image}
The correction on the 1597 tick is a mess. The bulls have been able to produce a short term NSH however a correction like that is a bad sign for me.

I know it's not in your trade plan but I'd probably move my stop to 21819-20 ...lock in 10-15 points and give it a tiny chance to move higher.
  • #31,137
  • Aug 25, 2017 8:14am Aug 25, 2017 8:14am
Quoting Mr. Pip
This longer term trade has not really gone anywhere. I've spent more time on the pain train and anything else. What a ball buster should I just take the 11K profit and be happy or should I just follow my trade plan? Tough one to answer. {image}
I meant 233

Price has the potential to get to the 860-880 range. Good opportunity to go short then as well
  • #31,138
  • Aug 25, 2017 8:22am Aug 25, 2017 8:22am
Quoting Mr. Pip
This longer term trade has not really gone anywhere. I've spent more time on the pain train and anything else. What a ball buster should I just take the 11K profit and be happy or should I just follow my trade plan? Tough one to answer. {image}
Very very tough one to answer indeed. But if I remember your advice and live stream correctly, you would say - what does your trade plan says?
  • #31,139
  • Aug 25, 2017 8:26am Aug 25, 2017 8:26am
Quoting evocpr19
{quote} I would take the profit (11k). There was enough pain in this trade.
LOL I hear you.
If you fail to plan, you plan to fail.
  • #31,140
  • Aug 25, 2017 8:27am Aug 25, 2017 8:27am
Quoting x3m-PippiN
{quote} The correction on the 1597 tick is a mess. The bulls have been able to produce a short term NSH however a correction like that is a bad sign for me. I know it's not in your trade plan but I'd probably move my stop to 21819-20 ...lock in 10-15 points and give it a tiny chance to move higher.
For that I would just take profit. I will ride it out per my rules. Discipline is the key to success.
If you fail to plan, you plan to fail.
16 traders viewing now