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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

  • #31,381
  • Sep 1, 2017 5:09am Sep 1, 2017 5:09am
MR pip, thank you for everything you do!
I don't trade the 5 min ( 233 tick ) charts much due to time and currently trading it on the daily mainly and 4h aswell.. I put my S/L not above the previous (major) swing, due to hugeeee stops, I usually put it below / above structure combined with fib + 10 pips ( daily chart ) and threating me very well, any comment on trying much tighter stops ( lets say around the 78,6% fib) for the higher TF traders around here?
BUT I did trade the 5 min chart today and really the quickest 2,5% return ever lol..
http://prntscr.com/gfqzml
http://prntscr.com/gfr1sx

Thank you for everything you do once again!

PS: would really like your experience on this.. Been testing this the couple of weeks and got mixed results but over all, it seemed to threat me the right way, more wins than losses..
"Luck is when opportunity meets preparation"
  • #31,382
  • Sep 1, 2017 5:14am Sep 1, 2017 5:14am
Quoting KensTrader
Took a short when price got to the supply zone Am up and down at work. Couldn't share my analysis {image}
Cool...That was a quicker trade than mine
  • #31,383
  • Sep 1, 2017 5:42am Sep 1, 2017 5:42am
USDJPY not really going anywhere. Not going to take a trade anymore with NFP coming closer.
Maybe afterwards if price doesn't behave too crazy.
  • #31,384
  • Sep 1, 2017 5:50am Sep 1, 2017 5:50am
Quoting PeterT
USDJPY not really going anywhere. Not going to take a trade anymore with NFP coming closer. Maybe afterwards if price doesn't behave too crazy.
Good decision...it is friday as well so i know i'm gonna be expecting something crazy..Hope it favors me
  • #31,385
  • Sep 1, 2017 6:23am Sep 1, 2017 6:23am
Quoting RajD
{quote} Good decision...it is friday as well so i know i'm gonna be expecting something crazy..Hope it favors me
Well bulls look weak in this third leg up. Impulse decreasing, depth increasing. Projection not made yet. Might be weak NSH or not even making one. Bears already came in strong a few times. So for now it's looking good for your short I think.
But you never know what the news will do of course..
  • #31,386
  • Sep 1, 2017 6:33am Sep 1, 2017 6:33am
Quoting PeterT
{quote} Well bulls look weak in this third leg up. Impulse decreasing, depth increasing. Projection not made yet. Might be weak NSH or not even making one. Bears already came in strong a few times. So for now it's looking good for your short I think. But you never know what the news will do of course..
well i think price will make that weak NSH..i drew my harmonics more clearly and see that harmonics would complete a little higher than previous LH. Might look to double down in that case. Best RR for me then...hating the pain train but a good lesson to me

Never trade before 10am GMT

I'm also looking at the possibility of the 3 harmonic move up so that's why my stop loss has been moved

The short term hasn't been broken yet either so price might achieve that weak NSH. Lets see
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  • #31,387
  • Edited 6:56am Sep 1, 2017 6:46am | Edited 6:56am
I've been lurking on this thread for a long time - I like Damian's clear ideas about the market - and so I'm finally sticking my head above the parapet. I'm actually long YEN from 110.02 with original SL at 109.9 and target at 110.44. Bit conflicted about what to with this in the face of imminent news.

Anyway I wanted to ask what sort of win rate people have - the question is prompted by RajD's trade which targets a 1:1 RR.

Thanks
Attached Image (click to enlarge)
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  • #31,388
  • Sep 1, 2017 6:49am Sep 1, 2017 6:49am
Quoting RajD
{quote} ... Never trade before 10am GMT ...
I think the advise should be: never move your SL
  • #31,389
  • Sep 1, 2017 7:01am Sep 1, 2017 7:01am
Quoting PeterT
{quote} I think the advise should be: never move your SL
I'm a rule breaker
  • #31,390
  • Sep 1, 2017 7:09am Sep 1, 2017 7:09am
Some practice in the usdjpy here. I am learning.
The price already touch the PRZ of a butterfly. But the ABCD is not completed yet.
Entry: PRZ only
SL: Above 161.8% Ext. of AD
Tp1: 38.8% of AD & move to BE
Tp2: 61.8% of AD
Tp3: Trailing stop to 10p of structure
Attached Image (click to enlarge)
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  • #31,391
  • Sep 1, 2017 7:13am Sep 1, 2017 7:13am
Price broke short term order flow to the downside. Potential short Peter. What say??
  • #31,392
  • Sep 1, 2017 7:14am Sep 1, 2017 7:14am
[quote=bartlby37;10249352]I've been lurking on this thread for a long time - I like Damian's clear ideas about the market - and so I'm finally sticking my head above the parapet. I'm actually long YEN from 110.02 with original SL at 109.9 and target at 110.44. Bit conflicted about what to with this in the face of imminent news. Anyway I wanted to ask what sort of win rate people have - the question is prompted by RajD's trade which targets a 1:1 RR. Thanks {image}[/quo

Hi. Could you explain why you took the long? Thanks
  • #31,393
  • Sep 1, 2017 7:21am Sep 1, 2017 7:21am
Quoting RajD
Price broke short term order flow to the downside. Potential short Peter. What say??
Not sure what you mean.
Do you mean immediate ordeflow?
I'm not seeing any side sticking out so no opportunity for me.
NFP coming in 10 minutes, better wait. Spreads can be huge and take you out.
  • #31,394
  • Sep 1, 2017 7:33am Sep 1, 2017 7:33am
Price played out that long term harmonic to the downside.

USDJPY +20

Could have easily made more. Will look to re-enter
  • #31,395
  • Sep 1, 2017 7:33am Sep 1, 2017 7:33am
Well NFP has decided. Shorts win this time
  • #31,396
  • Sep 1, 2017 7:44am Sep 1, 2017 7:44am
Quoting PeterT
{quote} Not sure what you mean. Do you mean immediate ordeflow? I'm not seeing any side sticking out so no opportunity for me. NFP coming in 10 minutes, better wait. Spreads can be huge and take you out.
Yea it was the immediate order flow when i told you that might price is breaking down. Just as Mr. Pip says, you can find out the next move from the immediate order flow...I sat for an hour just looking at the immediate order flow to break down. As soon as it did, i told you abt it. Didn't want to take the second trade because this is the first time i actually used short term order flow to be honest so i wasn't sure to take the trade

Secondly, i don't think our currency gives us that indication of a rotating candle ...It all happened really quickly, however the short term order flow did indicate that the bulls were done and next thing you know i see a 50 pip candle

There is still an opportunity to go short as the harmonic is not complete....chk and let me know if you see the same
  • #31,397
  • Sep 1, 2017 7:50am Sep 1, 2017 7:50am
[quote=RajD;10249456]
Quoting bartlby37
I've been lurking on this thread for a long time - I like Damian's clear ideas about the market - and so I'm finally sticking my head above the parapet. I'm actually long YEN from 110.02 with original SL at 109.9 and target at 110.44. Bit conflicted about what to with this in the face of imminent news. Anyway I wanted to ask what sort of win rate people have - the question is prompted by RajD's trade which targets a 1:1 RR. Thanks {image}[/quo Hi. Could you explain why you took the long? Thanks
I hate news ;-)

Long?
on 15 min chart (1st image) price had retraced to an area I thought might hold - I had that in the back of my mind. On the 5 min chart price seemed to have run out of downside energy - it didn't look like there were new sellers coming in to drive it lower so a pullback seemed a reasonable idea and there was room to get the trade to B/E before price hit sellers at 110.20

Maybe the smarter move would have been to sit with the sellers at 110.20 - although prior to the news they weren't making much headway to the downside.

Either way the news makes it somewhat of a gamble.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: yen 5min.png Size: 52 KB
  • #31,398
  • Sep 1, 2017 7:58am Sep 1, 2017 7:58am
Quoting RajD
{quote} Yea it was the immediate order flow when i told you that might price is breaking down. Just as Mr. Pip says, you can find out the next move from the immediate order flow...I sat for an hour just looking at the immediate order flow to break down. As soon as it did, i told you abt it. Didn't want to take the second trade because this is the first time i actually used short term order flow to be honest so i wasn't sure to take the trade Secondly, i don't think our currency gives us that indication of a rotating candle ...It all happened really...
My personal opinion (and also experience so far) is that the immediate orderflow only tells you something about the immediate orderflow, and nothing about the higher orderflows. Of course a larger orderflow change will begin in the smallest orderflow, but the immediate can show many orderflow changes while nothing happens to the larger orderflow. I don't think I put a lot (if any) of value on information of the immediate orderflow, unless I am trading that orderflow.

I certainly don't think that immediate orderflow can predict a large move like happened now.
My personal opinion is that trading NFP is gambling and I'd rather stay away from it. Unless maybe when trading long term orderflow.

I see what you mean with the harmonic not being complete.
I'm not trading for a while, the ride is too wild for my taste
  • #31,399
  • Sep 1, 2017 8:07am Sep 1, 2017 8:07am
+30
And took another short
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  • #31,400
  • Sep 1, 2017 8:17am Sep 1, 2017 8:17am
Quoting KensTrader
+30 And took another short {image}
same here
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