Disliked{quote} Nice trade, evocpr19! I missed that one unfortunately. I got the next one though. Worked out pretty well. Went aggressive with my trailing at a 1:1 completion and 127 fib extension. My entry could have been better though, but I did not expect price to retrace that far. {image}Ignored
Ratios & Harmonics: a Different Way to Trade
- #40,002
- Apr 30, 2018 9:02am Apr 30, 2018 9:02am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #40,003
- Apr 30, 2018 9:03am Apr 30, 2018 9:03am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #40,004
- Apr 30, 2018 9:08am Apr 30, 2018 9:08am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #40,005
- Apr 30, 2018 9:12am Apr 30, 2018 9:12am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
{quote} 1) By instrument i meant the currency pair you are trading. 2) I believe, Your aqua blue ABCD has been invalidated when price has moved above its A point. 3) Structure is more important than fib, don't forget : "Structure is the king". 4) Look to the left and draw the areas of supports and resistance, they get more strength , if they are also present in the higher time frame. 5) The graph below is the same currency pair and same time frame on my Mt4 platform and your BLUE AB=CD , as you can see there is a nice areas of support and resistance...
If you fail to plan, you plan to fail.
- #40,007
- Apr 30, 2018 9:16am Apr 30, 2018 9:16am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #40,008
- Apr 30, 2018 9:19am Apr 30, 2018 9:19am
- | Membership Revoked | Joined Jul 2010 | 9,273 Posts
If you fail to plan, you plan to fail.
- #40,015
- Apr 30, 2018 11:03am Apr 30, 2018 11:03am
Hi everyone... what a morning. I wanted to talk about the mess I got myself into today 
My expectation for this AM was a NSH (yellow swing) it hit the 127 fib so I was expecting a shallow correction. Based on structure I put my buy order in between the 32 and 50 fib. Well the market melted down fast and once I saw the deep correction it made I knew I needed to get out. Now.. this is where my psyche got me. I was expecting a NSL now and knew the market would correct deeply above. I saw a really bad rotation candle and didn't manage to rescue my trade like I had in my plan. I also had FOMO. I went to place my sell order at that small thin orange box and ended up taking a premature sell based on the way price was acting. Anyways.. I managed to end the day green. Trading will test you mentally and I'm kicking myself for not getting a BE or even + on my rescue trade because I had it marked where I knew there was a good chance the market would come back to. I always seem to need to iron out the kinks on Monday lol.
+23 today
My expectation for this AM was a NSH (yellow swing) it hit the 127 fib so I was expecting a shallow correction. Based on structure I put my buy order in between the 32 and 50 fib. Well the market melted down fast and once I saw the deep correction it made I knew I needed to get out. Now.. this is where my psyche got me. I was expecting a NSL now and knew the market would correct deeply above. I saw a really bad rotation candle and didn't manage to rescue my trade like I had in my plan. I also had FOMO. I went to place my sell order at that small thin orange box and ended up taking a premature sell based on the way price was acting. Anyways.. I managed to end the day green. Trading will test you mentally and I'm kicking myself for not getting a BE or even + on my rescue trade because I had it marked where I knew there was a good chance the market would come back to. I always seem to need to iron out the kinks on Monday lol.
+23 today
- #40,016
- Apr 30, 2018 11:08am Apr 30, 2018 11:08am
Hi everyone... what a morning. I wanted to talk about the mess I got myself into today
{quote} EURUSD Tick chart 1597 T , a little while later showing rotation candles too: {image} I already entered Long and you can see my SL and Tp settings .
price on the BC leg , has used up to its last pips of a valid correction (88.6% of its AB length) before i call it a failure , and is now in a complex correction, i still hope that it will return to its path and will work out. the R:R in pips that i am using is 99:27(something around 3:1).
