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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

  • #34,501
  • Nov 27, 2017 3:47pm Nov 27, 2017 3:47pm
Quoting evocpr19
{quote} Hi Peter, Honestly, I do not think that your trades were bad. The only trade that I would not have taken is the one were you can see the acceleration in price on the second leg (rectangle in picture) which would show that a long is not the best idea. NB: This is a rule which I try to follow, minor 1:1 with price acceleration on the second leg => Do not trade in opposite direction (good for me to write it sometimes) {image}
Thanks evocpr19. You're right the acceleration should have alarmed me.
My trigger was a large bullish candle and the fact that price was at 111.00. So kind of an emotional entry in a way.
See where that gets us
Thanks for the advice!
  • #34,502
  • Nov 27, 2017 5:31pm Nov 27, 2017 5:31pm
Quoting PeterT
Not a very successful day. Not very good trading either. Ended with a slight loss. -25 euro +1 euro +20 euro {image}

It happened I traded yen today but futures contract so my chart is 'upside down' comparing to yours.
Peter, please read @Tim and @Damian posts ##34,365 and 34,494 respectively. Very often traders look at HTF when in doubt especially when the price is at the previous swing high. One more thing Peter, when the leg is extended it can reach 261.8% EXT.(please look into Harmonic Trader pdf. files which I posted some time ago). With experience, you will see patterns more clearly. You are doing very, very OK. Peter, it's not a pep talk it's how I see your ability to spot the patterns. Good luck.
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Always trade your own plan...I don't provide trading signals.
  • #34,503
  • Nov 27, 2017 9:44pm Nov 27, 2017 9:44pm
Quoting Supreme1394
{quote} I'm concerned with that huge bull candle, the bears shouldn't have allowed it.
well the market can do whatever it wants. It's important to adjust when there is change

if i didn't move my stop loss to BE, i wouldn't have even got stopped out. It's important to trust the trade as well. Lesson learnt
  • #34,504
  • Nov 28, 2017 2:22am Nov 28, 2017 2:22am
Harmonic buy@50%
Attached Image


61.8 sell
Attached Image
No one wants to be defeated~
  • #34,505
  • Nov 28, 2017 3:12am Nov 28, 2017 3:12am
Quoting PeterT
GBPUSD Long Expectation NSH Had a very deep correction. Entry at 88.6% correction. Also 61.8% correction of large ABCD-pattern Also two harmonic completions intraday. There was good buying from the blue area previously. May not be the highest probability trade, but very good R:R so I went for it. {image}
I moved the SL just a notch yesterday.
Enough to nearly escape death.
Went to sleep and saw this morning that the bulls were doing pretty well.
A very large bullish candle gave me confidence in the trade.

There was high impact news coming up for GBP, but the bullish candle made me stay in the trade.
Bears started to attack, big volume candles.
My stop was nearly hit for the second time.
I wanted to get out but I have no rules allowing me to get out.
So I had to let the trade run.
Was thinking of Mr. Pip saying we can not control what happens between entry and SL or TP. Let price do it's thing.
The result is that my stop was hit.

But I feel good about following my rules.
I would have felt much much worse if I got out of the trade, and then saw price shoot up for 70 pips.
It is what it is.

Also, I miscalculated my lotsize.
Heyyyy that's a new mistake, never made that one before!
-45 euro. Rules say maximum is 30 euro. Well done Peter.
Next.

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  • #34,506
  • Nov 28, 2017 3:17am Nov 28, 2017 3:17am
Quoting Coreg2004
{quote} It happened I traded yen today but futures contract so my chart is 'upside down' comparing to yours. Peter, please read @Tim and @Damian posts ##34,365 and 34,494 respectively. Very often traders look at HTF when in doubt especially when the price is at the previous swing high. One more thing Peter, when the leg is extended it can reach 261.8% EXT.(please look into Harmonic Trader pdf. files which I posted some time ago). With experience, you will see patterns more clearly. You are doing very, very OK. Peter, it's not a pep talk it's how...
Hey Coreg2004, I need some time to look at this in detail, I have the feeling I will learn something
Will look at it tonight, thanks!
  • #34,507
  • Nov 28, 2017 4:05am Nov 28, 2017 4:05am
https://www.youtube.com/watch?v=zagUWMg8MeM
  • #34,508
  • Nov 28, 2017 4:36am Nov 28, 2017 4:36am
USDJPY Analysis

Intraday: NSH

- Price has made a NSH a few minutes back

Expectation: Would like price to retrace as the RR is not great and not worth the trade. Will wait a little longer

Longterm: NSL

- Market is overall bearish
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  • #34,509
  • Nov 28, 2017 5:22am Nov 28, 2017 5:22am
Quoting RajD
USDJPY Analysis Intraday: NSH - Price has made a NSH a few minutes back Expectation: Would like price to retrace as the RR is not great and not worth the trade. Will wait a little longer Longterm: NSL - Market is overall bearish {image} {image}
+1
Though the intraday expectation is NSH, I'm not going to trade any long trades even after retracement because of how price is compressing slowly upwards to the longterm resistance. I'm going to look for short once price aligns itself with the longterm NSL.
Detach yourself from the value of money - Mr. Pip
  • #34,510
  • Nov 28, 2017 5:41am Nov 28, 2017 5:41am
https://www.youtube.com/watch?v=km1AjXF2OcM
  • #34,511
  • Nov 28, 2017 6:34am Nov 28, 2017 6:34am
GBPUSD long, trading correction
After expectation failure, NSL formed
At 127-138 ext zone, see chart
Large ABCD pattern completion
1:1 harmonic completion within second leg
Good longer term structure
Expecting deep correction after expectation failure, and also 61.8% correction of the ABCD pattern. So chose this as profit target.
With this much confluence, what can go wrong?

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  • #34,512
  • Nov 28, 2017 6:58am Nov 28, 2017 6:58am
Quoting PeterT
GBPUSD long, trading correction After expectation failure, NSL formed At 127-138 ext zone, see chart Large ABCD pattern completion 1:1 harmonic completion within second leg Good longer term structure Expecting deep correction after expectation failure, and also 61.8% correction of the ABCD pattern. So chose this as profit target. With this much confluence, what can go wrong? {image}
SL was hit
-30 euro
I did see the bear candles but I interpreted them wrong I guess.
I was really convinced that it would work out, with all the confluence.
I guess I was seeing what I wanted to see.
  • #34,513
  • Nov 28, 2017 7:06am Nov 28, 2017 7:06am
Quoting PeterT
{quote} SL was hit -30 euro I did see the bear candles but I interpreted them wrong I guess. I was really convinced that it would work out, with all the confluence. I guess I was seeing what I wanted to see.
From the chart, I see that the bears are constantly overpowering the bulls with the stronger bars, and this shows that the bears are accumulating order to go down. So yea, not really a good idea to trade against that I suppose.
Detach yourself from the value of money - Mr. Pip
  • #34,514
  • Nov 28, 2017 7:08am Nov 28, 2017 7:08am
Quoting RajD
USDJPY Analysis Intraday: NSH - Price has made a NSH a few minutes back Expectation: Would like price to retrace as the RR is not great and not worth the trade. Will wait a little longer Longterm: NSL - Market is overall bearish {image} {image}
Short at 111.247
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  • #34,515
  • Nov 28, 2017 7:11am Nov 28, 2017 7:11am
Quoting RajD
{quote} Short at 111.247 {image}
Cool, I'm waiting for a retracement to enter short.
Detach yourself from the value of money - Mr. Pip
  • #34,516
  • Nov 28, 2017 7:21am Nov 28, 2017 7:21am
Quoting Supreme1394
{quote} From the chart, I see that the bears are constantly overpowering the bulls with the stronger bars, and this shows that the bears are accumulating order to go down. So yea, not really a good idea to trade against that I suppose.
Yeah. I'm starting to see a problem with my interpretation of big candles.
They didn't scare me in this case because I saw no real progress of the bears moving price lower.
But yeah, if you consider that to be accumulating, then I guess you could say you expect price to drop.

If I'm not mistaking, Mr. Pip said recently he didn't put too much weight on the accumulation anymore, like he did in the past.
That's where I also stopped giving much attention to possible accumulation of orders.

But I guess completely ignoring the phenomenon is also not the way to go.
  • #34,517
  • Nov 28, 2017 7:27am Nov 28, 2017 7:27am
Quoting PeterT
{quote} Yeah. I'm starting to see a problem with my interpretation of big candles. They didn't scare me in this case because I saw no real progress of the bears moving price lower. But yeah, if you consider that to be accumulating, then I guess you could say you expect price to drop. If I'm not mistaking, Mr. Pip said recently he didn't put too much weight on the accumulation anymore, like he did in the past. That's where I also stopped giving much attention to possible accumulation of orders. But I guess completely ignoring the phenomenon is also...
Hmm, would need Mr. Pip to comment on that. But in my experience, accumulation/consumptions still plays a big role in my trades. Saved me from many possible losing trades.
Detach yourself from the value of money - Mr. Pip
  • #34,518
  • Nov 28, 2017 9:12am Nov 28, 2017 9:12am
Quoting RajD
{quote} Short at 111.247 {image}
Hope you went to breakeven, couldnn't find a suitable rotation candle so I didn't take the short.
Detach yourself from the value of money - Mr. Pip
  • #34,519
  • Nov 28, 2017 9:16am Nov 28, 2017 9:16am
Hello Traders,

Back now lets see what there is to grab here in the market. Remember the live stream tomorrow. Can't wait!!!
If you fail to plan, you plan to fail.
  • #34,520
  • Nov 28, 2017 9:24am Nov 28, 2017 9:24am
Quoting Supreme1394
{quote} Hmm, would need Mr. Pip to comment on that. But in my experience, accumulation/consumptions still plays a big role in my trades. Saved me from many possible losing trades.
Mr. Pip, would you mind commenting? If you look at my trade for example, are the large bear candles a sign that bears are accumulating and price is probably going lower?

Quoting PeterT
GBPUSD long..
Do you still look for accumulation and use it in your trading?
Are there circumstances/situations where you disregard large candles, or do they always mean something?
Is this maybe something you could cover in a live session?
Thanks
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