Ratios & Harmonics: a Different Way to Trade

Longer term

We will talk about it on Thurdasy

Locked in 20

Out with 20.

Long

Hi Mr. Pip,
Why did you go long here?

Complex correction AB=CD which extended on the second leg into the golden zone and the expectation on the longer term is a NSH. I was aggressive on the management because the bears have been gaining strength.

I went long at the AB=CD with the support area(479). Is there any thing I can improve, so I can skip a trade like this?

We will cover this in the live stream. Try to be there but it will be recorded.

I have to run catch you guys later.

Long,
1 win, 3 losses today. Down 13 ticks today. Lets see how this pans out

Failed trade UC 15 min -30 pips .

SL @ BE

My Gold trades today:

I prepared some questions that may or may not be interesting to cover in one of your live videos, in case you would run out of questions
Sorry it's a lot of text, I thought it would help to explain the questions more in detail instead of just giving you a subject
Thanks a lot!

About ABCD or AB=CD pattern trading.
- What are the things you take into consideration when deciding if you are going to trade the correction of an ABCD or AB=CD pattern completion?
- Does it matter if the pattern completes as part of a correction or in line with the expectation?
- Is the strength of the second leg of influence for your decision of taking the entry? Or does it influence the profit target?
- Is an ABCD pattern more reliable than a AB=CD pattern in terms of accomplishing the 61.8% target?
- Do you wait for a confirmation candle or just pull the trigger exactly at point D?
- Do you just take the entry at D whenever a pattern is completed or do you need confluence with structure/fib level/..?

About trading against expectation of the orderflow you are trading.
- How and when to trade against the expectation. And when NOT to trade against expectation.
- What are the things you take into consideration when deciding if you are going to trade against the expectation?
- I can imagine that you would consider a trade against the expectation when there's a harmonic pattern completion, in confluence with structure?
Any other situations where a trade against expectation is defendable?

Graceful exits: why and when?
I think it is deployed when we are quite certain we are going to take a loss and we want to limit the loss as much as we can?
If so, at what point are we so sure we are going to take a loss? When price corrects deeper than our entry? When price shows strength against our trade?
I think the only place we absolutely KNOW our analysis was wrong, is at our stop loss, right?
So why and when to use the graceful exits?
And what does it mean? Just exiting as close to the entry as possible? Or adding to the trade to compensate for the loss and try to break even?

Trading the immediate orderflow
- When you traded forex, did you trade all day or only a small timeframe like you do now on the YM?
- Which orderflow did you trade?
- I want to try to limit my trading to a 2-3 hour timeframe every day.
The EURUSD or USDJPY are only giving me enough opportunities in that 2-3 hour timeframe when I trade the immediate orderflow.
When trading the small immediate orderflow, it is important to catch as much of a move as possible, since there's a spread and commissions and they weigh heavily when trading this small orderflow.
If you wait for rotation candles in this small orderflow, you have already missed a decent portion of the move. Do you think it is better to just take entry when price gets to a certain fib level and structure, without waiting for a rotation candle? Is the rotation candle even important in this orderflow? Because if you look at the 58 tick chart for example, it is full of rotation candles.

Excellent I will address these too.

https://www.youtube.com/watch?v=j7o9xQ4KGXQ

USDJPY Analysis

Intraday: NSL

- Price made a NSL at 0035 GMT

Expectation: Price already at my golden zone again. Will wait for what price does after market open

Longterm: NSH

- Market is overall bullish
- Going with intraday expectations

Harmonic pattern BUY

AB=CD