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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

  • #40,361
  • May 11, 2018 12:51pm May 11, 2018 12:51pm
Quoting Coreg2004
{quote} Hi Peter, yes I will terrorize you with these patterns until it sinks in. {image}
Hey Coreg - can you please elaborate on this. Thanks!
  • #40,362
  • May 11, 2018 1:07pm May 11, 2018 1:07pm
Quoting Coreg2004
{quote} Hi Peter, yes I will terrorize you with these patterns until it sinks in. {image}
Hey Coreg I don't mind the terrorizing
It may not look like it, but I actually am looking for these patterns when analyzing the chart.
Trying to fit a few basic patterns like 5-waves and corrections with zigzags and flats.
Just as an extra tool to help me navigate in the orderflows.
But, first of all, I am not very good at it yet, at all.
And second, I didn't think it applied in this messy range.
Now that you draw it, I see it, but only after the facts.
And I would not be able to recognize this in real time.

Moreover, it confuses me that I could fit the pattern in other ways, so my long would seem ok (to me).
See my drawing.
The main direction is bullish, blue lines is the correction, and a new swing up is started.
This first swing also creates a NSH, so it could be the first swing of a new 3-swing move up.
It corrects deep, as could be expected, and I go long at the white arrow.

Not saying this is a good analysis, but trying to make the point that I'm seeing these patterns everywhere and at the moment it is not helping me.
Any good literature or videos on this subject that you have not mentioned yet in previous posts?
Remember, I'm still learning. Sorry if this image made you nauseous

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  • #40,363
  • May 11, 2018 1:28pm May 11, 2018 1:28pm
Quoting Lundies10
{quote} Hey Coreg - can you please elaborate on this. Thanks!
Lundies10 haven't seen you in a long long time, how's it going? Thought you gave up trading
  • #40,364
  • May 11, 2018 1:35pm May 11, 2018 1:35pm
Quoting evocpr19
Could good profit from the downmove. Hope you did too.
Well done on that, read it right.. presumed another push up was on cards but once bears took control it was multiple ab-cd's all the way down.
It's in fear when people show what they truly value.
  • #40,365
  • May 11, 2018 1:40pm May 11, 2018 1:40pm
Quoting PeterT
{quote} Lundies10 haven't seen you in a long long time, how's it going? Thought you gave up trading
Hey PeterT yeah its been a while since I posted but have been checking in and reading here and there. Truth be told I was finally able to begin live trading (been demo trading up until this week) so I have been quiet just grinding saving my money. Now that I’m live you’ll see more of me

Mr. Pip good to see you are still quite active on the thread. Can you (or someone) please point me in the direction of the harmonic patterns you trade? If I recall there are only a few... thanks in advance.
  • #40,366
  • May 11, 2018 1:44pm May 11, 2018 1:44pm
Quoting Lundies10
{quote} Hey PeterT yeah its been a while since I posted but have been checking in and reading here and there. Truth be told I was finally able to begin live trading (been demo trading up until this week) so I have been quiet just grinding saving my money. Now that I’m live you’ll see more of me
Great! Good luck in your live trading.
Or I should say, you don't need luck. Just follow your rules
  • #40,367
  • May 11, 2018 2:04pm May 11, 2018 2:04pm
Quoting Lundies10
{quote} Hey PeterT yeah its been a while since I posted but have been checking in and reading here and there. Truth be told I was finally able to begin live trading (been demo trading up until this week) so I have been quiet just grinding saving my money. Now that I’m live you’ll see more of me Mr. Pip good to see you are still quite active on the thread. Can you (or someone) please point me in the direction of the harmonic patterns you trade? If I recall there are only a few... thanks in advance.
Check out these posts to get you on your way:
Quoting Mr. Pip
Hello Traders, I have been busy remaking the advance patterns guide.
Quoting Mr. Pip
{quote}.. I would only trade the patterns that have been developed by Scott Carney. ... I personally only trade the Gartley, Bat, Crab, Butterfly and my favorite ABCD. If you want to learn the patterns and true Harmonics align yourself with Scott Carney he is the source. He has lots of free content and you can also join him he does lots of free trading sessions in his live room. I use harmonics in a slightly different way.
Quoting Mr. Pip
{quote} ... I would trash the Cypher pattern. I have discussed it at length with Scott Carney and it is not a pattern that fits curtain harmonic principles.
Quoting Robadub
.. . I made this pdf in illustrator to be clear where exactly the PRZ are and how to identify each harmonics. ..
  • #40,368
  • May 11, 2018 2:47pm May 11, 2018 2:47pm
Quoting PeterT
{quote} Hey Coreg I don't mind the terrorizing It may not look like it, but I actually am looking for these patterns when analyzing the chart. Trying to fit a few basic patterns like 5-waves and corrections with zigzags and flats. Just as an extra tool to help me navigate in the orderflows. But, first of all, I am not very good at it yet, at all. And second, I didn't think it applied in this messy range. Now that you draw it, I see it, but only after the facts. And I would not be able to recognize this in real time. Moreover, it confuses...
Peter, I understand your point. When we trade micro swings we encounter so many variables that it's so hard sometimes to see which option will play out at the moment, that's why I concentrate only on patterns which I can easily recognize and have them as my signature plays (harmonic patterns with my bread and butter AB=CD)
I don't know Peter how you prepare yourself for the next trading day but I for sure don't expect every day to be runaway train meaning price will have minimal corrections during the day and will go only in one direction. It has to be at some point correction. How to determine the place where the market starts to correct?
Using f.exp. harmonic patterns...see the chart........................Stick around you will get there where you want to be....Good trading Peter.
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Always trade your own plan...I don't provide trading signals.
  • #40,369
  • May 11, 2018 2:52pm May 11, 2018 2:52pm
Quoting PeterT
{quote} Check out these posts to get you on your way: {quote} {quote} {quote} {quote}
Thanks for this - I will practice these before I implement into live trades. Happy to report my first live week was profitable. Not by much what is that popluar saying around here.... “profit is profit” ? I look forward to seeing you guys frequently again.
  • #40,370
  • Edited 3:25pm May 11, 2018 2:52pm | Edited 3:25pm
Quoting Lundies10
{quote} Hey Coreg - can you please elaborate on this. Thanks!
Lundies(corrected-sorry), I posted in the past charts what corrections I expect ( I trade only simple ones). Basically, A-B-C pattern which contains 3-3-5 or 5-3-5 swings. Please check my attachments and also Harmonic trader.pdf files. Good luck with your trading.
Always trade your own plan...I don't provide trading signals.
  • #40,371
  • May 11, 2018 2:57pm May 11, 2018 2:57pm
My entries today on YM: 16.00 my time = 10.00 US time
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  • #40,372
  • May 11, 2018 3:17pm May 11, 2018 3:17pm
Quoting Coreg2004
{quote} Peter, I understand your point. When we trade micro swings we encounter so many variables that it's so hard sometimes to see which option will play out at the moment, that's why I concentrate only on patterns which I can easily recognize and have them as my signature plays (harmonic patterns with my bread and butter AB=CD) I don't know Peter how you prepare yourself for the next trading day but I for sure don't expect every day to be runaway train meaning price will have minimal corrections during the day and will go only in one direction....
Thanks! Good tips. Good trading to you!
  • #40,373
  • May 12, 2018 5:27am May 12, 2018 5:27am
Quoting evocpr19
My entries today on YM: 16.00 my time = 10.00 US time {image}
Hi Evo
That was really impressive that you able capture the maximum profit from the market.
I have one question.Starting from 18:00,there was a very strong reversal candle.It looks more like a reversal to upside.
How do you know know it will continue a downward trend.
Thanks
  • #40,374
  • May 12, 2018 6:08am May 12, 2018 6:08am
Quoting Unichamp
{quote} Hi Evo That was really impressive that you able capture the maximum profit from the market. I have one question.Starting from 18:00,there was a very strong reversal candle.It looks more like a reversal to upside. How do you know know it will continue a downward trend. Thanks
pretty strong but if you know the pattern.. it's the b-c move before the c-d.. if the market scared people out with that then it did it's job.
It's in fear when people show what they truly value.
  • #40,375
  • May 12, 2018 7:27am May 12, 2018 7:27am
Quoting Unichamp
{quote} Hi Evo That was really impressive that you able capture the maximum profit from the market. I have one question.Starting from 18:00,there was a very strong reversal candle.It looks more like a reversal to upside. How do you know know it will continue a downward trend. Thanks
I do not know for sure, but I traded as ensale said the AB-CD and had the conviction that price would go south (as posted earlier yesterday).
  • #40,376
  • May 12, 2018 8:13am May 12, 2018 8:13am
Quoting ensale
{quote} pretty strong but if you know the pattern.. it's the b-c move before the c-d.. if the market scared people out with that then it did it's job.
thanks for replying.it really did a good scary job
  • #40,377
  • May 12, 2018 7:03pm May 12, 2018 7:03pm
Quoting evocpr19
My entries today on YM: 16.00 my time = 10.00 US time {image}
May I ask, what made you enter again after your initial entries? I can't seem to understand what made you decide to enter again, other than maybe retesting the resistance?
  • #40,378
  • May 13, 2018 3:42am May 13, 2018 3:42am
Quoting S41nt
{quote} May I ask, what made you enter again after your initial entries? I can't seem to understand what made you decide to enter again, other than maybe retesting the resistance?
My reference leg has not been broken and in my view bulls should not have allowed the PA, so I opted for the 1:1 of my reference leg as a first target and then to reduce risk by moving my SL.
  • #40,379
  • May 13, 2018 8:29am May 13, 2018 8:29am
Quoting parviz1953
{quote} Update on USDJPY weekly: I have exited the long position with around 300 pip and after a rotation candle on daily TF i entered short and this is my new expectation and settings now: {image} And this is the D1 timeframe of the same chart and its rotation candle: {image}
Update on USDJPY Weekly:
Expectation is still bearish correction , last week i was 30 pips in profit and i am beginning this week, 30 pips down.
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  • #40,380
  • May 13, 2018 11:17am May 13, 2018 11:17am
Quoting parviz1953
{quote} Update on USDJPY Weekly: Expectation is still bearish correction , last week i was 30 pips in profit and i am beginning this week, 30 pips down.{image}
Weekly trades usually take over 40-60 weeks to get stopped out for a loss or for a profit. So patient is a really big factor when trading longer term. Good luck to your trade buddy!
"Luck is when opportunity meets preparation"
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