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Ratios & Harmonics: a Different Way to Trade

  • #31,441
  • Sep 4, 2017 4:21am Sep 4, 2017 4:21am
USDJPY Analysis

Intraday: NSL
- Market made a NSL at 0620 GMT
- Price is moving sideways at the moment
- Price is correcting off the swing as shown in the 5m chart

Expectation: Would like price to come to my AOI which is the 61.8 Fib. Good Structure and there would be a harmonic completion there as well. SOS 3 for me. Would like to take the short then

Long term: NSL
- Price might look to completing that large harmonics. Let’s see
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 040917 ST.JPG Size: 122 KB
Click to Enlarge Name: usdjpy 040917 LT.JPG Size: 116 KB
  • #31,442
  • Sep 4, 2017 4:24am Sep 4, 2017 4:24am
Quoting tomazlucena
Hi guys, can you share the link for the chat you keep talking about?
This should still work

Quoting pereiraalex
... This link should never expire : https://discord.gg/7CKNXD2
  • #31,443
  • Sep 4, 2017 4:28am Sep 4, 2017 4:28am
Quoting RajD
USDJPY Analysis Intraday: NSL - Market made a NSL at 0620 GMT - Price is moving sideways at the moment - Price is correcting off the swing as shown in the 5m chart Expectation: Would like price to come to my AOI which is the 61.8 Fib. Good Structure and there would be a harmonic completion there as well. SOS 3 for me. Would like to take the short then Long term: NSL - Price might look to completing that large harmonics. Let’s see {image} {image}
Looking for same the AOI intraday.
I don't see the harmonic completion into that area, or at least it's not perfect.
Is it possible you're using the wrong low to project from?

Anyway seems like a good area to short.
  • #31,444
  • Sep 4, 2017 4:40am Sep 4, 2017 4:40am
Quoting PeterT
{quote} Looking for same the AOI intraday. I don't see the harmonic completion into that area, or at least it's not perfect. Is it possible you're using the wrong low to project from? Anyway seems like a good area to short.
I used the NSL as my bottom upto the point at 109.59 (the little candle with a wick on both ends)

Price will complete 2-3 pips higher to the golden zone. so will be slightly higher than the harmonic i drew
  • #31,445
  • Sep 4, 2017 4:53am Sep 4, 2017 4:53am
Quoting RajD
{quote} I used the NSL as my bottom upto the point at 109.59 (the little candle with a wick on both ends) Price will complete 2-3 pips higher to the golden zone. so will be slightly higher than the harmonic i drew
Ok. I see now that my AOI starts at 109.68, while yours starts lower.
That's why I didn't get into my zone with a 1:1
  • #31,446
  • Sep 4, 2017 5:29am Sep 4, 2017 5:29am
Quoting RajD
USDJPY Analysis Intraday: NSL - Market made a NSL at 0620 GMT - Price is moving sideways at the moment - Price is correcting off the swing as shown in the 5m chart Expectation: Would like price to come to my AOI which is the 61.8 Fib. Good Structure and there would be a harmonic completion there as well. SOS 3 for me. Would like to take the short then Long term: NSL - Price might look to completing that large harmonics. Let’s see {image} {image}
Short at 109.644
SL at 109.963
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 040917 Action.JPG Size: 123 KB
  • #31,447
  • Edited 5:51am Sep 4, 2017 5:40am | Edited 5:51am
Quoting PeterT
{quote} Looking for same the AOI intraday. I don't see the harmonic completion into that area, or at least it's not perfect. Is it possible you're using the wrong low to project from? Anyway seems like a good area to short.
USDJPY bulls came into AOI a bit too strong for my taste.
Waiting for deeper correction. Need to see weakening before entering short.
Price now in golden zone and still looking quite strong..

edit: nice rotating candle but still inclined to wait and see if bulls have anything left. Might miss the move because of that..
  • #31,448
  • Sep 4, 2017 7:22am Sep 4, 2017 7:22am
Quoting PeterT
{quote} USDJPY bulls came into AOI a bit too strong for my taste. Waiting for deeper correction. Need to see weakening before entering short. Price now in golden zone and still looking quite strong.. edit: nice rotating candle but still inclined to wait and see if bulls have anything left. Might miss the move because of that..
Bulls are out of fuel...
  • #31,449
  • Sep 4, 2017 7:31am Sep 4, 2017 7:31am
Quoting KensTrader
{quote} Bulls are out of fuel...
Yeah..
Have my finger on the trigger but I was thinking "If I enter short now, would that be excellent PA reading, or would that be fear of missing out on the move"
  • #31,450
  • Sep 4, 2017 7:37am Sep 4, 2017 7:37am
Quoting PeterT
{quote} Yeah.. Have my finger on the trigger but I was thinking "If I enter short now, would that be excellent PA reading, or would that be fear of missing out on the move"
If price is in my AOI i pull the trigger.
It just that the day is slow because of the holiday
We wont see much action
  • #31,451
  • Sep 4, 2017 7:44am Sep 4, 2017 7:44am
Quoting KensTrader
{quote} If price is in my AOI i pull the trigger. It just that the day is slow because of the holiday We wont see much action
Bears pushing down but bulls defending 109.68.
One nice bullish candle appeared indicating imbalance to the bulls side.
But the candle was immediately suppressed by the bears and now they're fighting at 109.68 again.
It's a matter of who will be depleted first
I'm waiting for a bull move into higher area before going short I don't like to short into this support area at 109.68.
  • #31,452
  • Sep 4, 2017 8:12am Sep 4, 2017 8:12am
Quoting PeterT
{quote} Bears pushing down but bulls defending 109.68. One nice bullish candle appeared indicating imbalance to the bulls side. But the candle was immediately suppressed by the bears and now they're fighting at 109.68 again. It's a matter of who will be depleted first I'm waiting for a bull move into higher area before going short I don't like to short into this support area at 109.68.
Well looks like I missed it now
  • #31,453
  • Sep 4, 2017 9:23am Sep 4, 2017 9:23am
Quoting KensTrader
{quote} If price is in my AOI i pull the trigger. It just that the day is slow because of the holiday We wont see much action

Well, I don't "just pull the trigger". BUT ! nothing in rules and super complex calculations. Just a simple strength analysis, a little subjective ( can be called looking for a good rotation ).
  • #31,454
  • Sep 4, 2017 10:59am Sep 4, 2017 10:59am
Quoting RajD
{quote} Short at 109.644 SL at 109.963 {image}
Break even

Price corrected 100% short term
  • #31,455
  • Sep 5, 2017 3:28am Sep 5, 2017 3:28am
USDJPY Analysis

Intraday: NSL
- Market made a NSL at 0315 GMT
- Price correcting off the swing as shown in 5m chart

Expectation: Would like price to come to my golden zone and take the short. Will wait for price to weaken before taking the trade

Long term: NSL
- Quite a few harmonics would complete at a strong structure if the intraday plays out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy 050917 ST.JPG Size: 120 KB
Click to Enlarge Name: usdjpy 050917 LT.JPG Size: 115 KB
  • #31,456
  • Sep 5, 2017 6:37am Sep 5, 2017 6:37am
Quoting RajD
USDJPY Analysis Intraday: NSL - Market made a NSL at 0315 GMT - Price correcting off the swing as shown in 5m chart Expectation: Would like price to come to my golden zone and take the short. Will wait for price to weaken before taking the trade Long term: NSL - Quite a few harmonics would complete at a strong structure if the intraday plays out {image} {image}
Missed the trade coz of no electricity

Third world country problems
  • #31,457
  • Sep 5, 2017 6:42am Sep 5, 2017 6:42am
Quoting RajD
{quote} Missed the trade coz of no electricity Third world country problems
Lol. I did have electricity, but I also missed the trade because I was waiting for a correction to 109.60. It never came :-p
  • #31,458
  • Sep 5, 2017 7:55am Sep 5, 2017 7:55am
Well there has been a harmonic 1 to 1 completed

Contemplating whether i should trade the correction

But i promised not to
  • #31,459
  • Edited 8:40am Sep 5, 2017 8:10am | Edited 8:40am
Quoting RajD
Well there has been a harmonic 1 to 1 completed Contemplating whether i should trade the correction But i promised not to
I normally would have traded it but my rules forbid me to, as it was not a perfect ABCD pattern and the second leg was stronger.

Thinking of shorting after the correction though.. but not sure where to expect the correction to end.
Given the larger impulse of the last swing and the structure to the left, I'd say 109.28 to go short. But if I wait for a rotation I would be in at 38.2 or something which is not my preferred level..
So summary: not sure

EDIT: There is an ABCD pattern completion at 109.28, it's at 50% retrace, good structure to the left.
I would be inclined to take it without rotation candle..

EDIT: I'm afraid that one is off the table now
  • #31,460
  • Sep 5, 2017 9:17am Sep 5, 2017 9:17am
Quoting PeterT
{quote} There is an ABCD pattern completion at 109.28, it's at 50% retrace, good structure to the left. I would be inclined to take it without rotation candle..
I don't think there's anymore action today
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