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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

  • #40,601
  • Edited 12:38pm May 17, 2018 11:52am | Edited 12:38pm
Quoting Lundies10
{quote} Too mich risk if you ask me but nice to know exactly what he calls a correction for his analysis
This is true I don't believe he takes these trades due to R:R but he still considers it a minimum for a correction.

I do take these trades if it extends to the 127 fib and I'm expecting a shallow correction. I only take the 38.2 correction IF there is a lot of structure at that level. If it goes lower I scale in... if it goes lower than the 50 fib I'm looking to execute a rescue mission and possibly a reversal trade.
  • #40,602
  • May 17, 2018 12:02pm May 17, 2018 12:02pm
Quoting pampaq
{quote} Hi Classy it's an old indi greetings {file}
THANKS MATE for your time and help.
Say something meaningful or Silence!!
  • #40,603
  • May 17, 2018 12:31pm May 17, 2018 12:31pm
Quoting Prock
{quote} This is true I don't believe he takes these trades due to R:R but he still considers it a minimum for a correction. I do take these trades if it extends to the 127 fib and I'm expecting a shallow correction. I only take the 32 correction IF there is a lot of structure at that level. If it goes lower I scale in... if it goes lower than the 50 fib I'm looking to execute a rescue mission and possibly a reversal trade.
Please tell me about your rescue mission trades and how the rules/strategy is different than a normal trade for you
  • #40,604
  • May 17, 2018 12:36pm May 17, 2018 12:36pm
Quoting Lundies10
{quote} Damian if you don't mind can you please refresh my memory: How far does price need to come back in order for you to count it as a correction in your analysis. Is ti 23.6 or 38.2?
According to Damian: 38.2
  • #40,605
  • Edited 12:57pm May 17, 2018 12:45pm | Edited 12:57pm
Quoting Lundies10
{quote} Please tell me about your rescue mission trades and how the rules/strategy is different than a normal trade for you
So the way I draw my extension fibs if price has hit the 127% I'm looking for a shallow correction (38-50 fib) so I place a buy order where structure is from these levels. If you trade rotation its the same thing you should be looking for rotation on 38.2 to 50 fib. Now if price goes down to the 61 fib or 78 I scale in (your account will need to be able to handle at least 2 contract sizes in order to execute a rescue mission). Because price has corrected deeply I'm looking to either get a BE or looking for an area of structure that price will stop at all. Ill see if I can find a previous example and edit this with a chart photo.


Okay, so with the below chart. My expectation was for a NSH with a shallow correction (38.2-50 fib) due to the swing hitting the 138%. There is great structure (the coral box) that I would have put a buy order on. You can see price spring up but fail to make a NSH. This is where I would have been at a BE. Lets say you didn't realize that it failed to make a NSH. So you now have a buy at the 38.2 level and youll want to scale in to get a better price. I would have scaled in at the 61.8 fib level and gotten out on the structure box. Now this is where you could have also considered to enter a sell (reversal trade)

Attached Image (click to enlarge)
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  • #40,606
  • May 17, 2018 1:31pm May 17, 2018 1:31pm
Quoting Lundies10
{quote} Please tell me about your rescue mission trades and how the rules/strategy is different than a normal trade for you
Mr.Pip also has a great video on it:

https://m.youtube.com/watch?v=7eR3bvRMngs
  • #40,607
  • May 17, 2018 1:39pm May 17, 2018 1:39pm
Quoting Prock
{quote} Mr.Pip also has a great video on it: https://m.youtube.com/watch?v=7eR3bvRMngs
Perfect, thanks for the vid.
  • #40,608
  • May 17, 2018 1:40pm May 17, 2018 1:40pm
My longer term short
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If you fail to plan, you plan to fail.
  • #40,609
  • May 17, 2018 1:48pm May 17, 2018 1:48pm
I locked in 40 points on minor structure and the zone identified should hold.
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If you fail to plan, you plan to fail.
  • #40,610
  • May 17, 2018 1:50pm May 17, 2018 1:50pm
Quoting Mr. Pip
My longer term short {image}
Great to see we have the same analysis! I feel like I’m finally getting somewhere lol
  • #40,611
  • May 17, 2018 1:56pm May 17, 2018 1:56pm
Quoting bmdenton23
Damian when you get time I have a nitty gritty AOI topic that I would like to hear your thoughts on. I've learned enough here that I'm in most every trade you're in, at least on the 233 swings. 7 out of the 10 trades we have in common, you get a better entry price than me and so I'm doubling down my efforts to examine your Areas of Interest. My question is about pullbacks to structure. Often times I find myself getting into say a long, when price pulls back to the previous NSH and rotates. Often times I find that you are waiting until price pulls...
The short answer is that I break the main swing down into the levels of structure. I being the first level where you usually enter. And the second area as level two structure The is the sweet spot and where you would usually find the stronger structure. Level three is the area where rescue missions are usually deployed. It is important the always have an expectation about everything. What king of a correction are you expecting. This will often time have you being more patient. The down side is that price does not always correct into level 2. Does this answer your question?
If you fail to plan, you plan to fail.
  • #40,612
  • May 17, 2018 2:24pm May 17, 2018 2:24pm
The sellers are defending the zone. The green zone will be the ultimate challenge. It is expected to be broken but not without a fight.
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If you fail to plan, you plan to fail.
  • #40,613
  • May 17, 2018 2:40pm May 17, 2018 2:40pm
Update
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If you fail to plan, you plan to fail.
  • #40,614
  • May 17, 2018 7:13pm May 17, 2018 7:13pm
A closer look shows there are committed buyers but they have depleted their funds still that does not mean they can't come back. It is important for the sellers to get aggressive and keep the buyers wasting more capital. We can see a nice strong push to the golden zone and price hitting ratio exhaustion of the smaller term order flow and the sellers were waiting right there. Let's see how this trade continues. I have locked in 50 points.
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If you fail to plan, you plan to fail.
  • #40,615
  • May 17, 2018 9:35pm May 17, 2018 9:35pm
Hey guys,

NZDUSD M1
Same question as before, this time I marked out point A and point B.

Price made an expectation failure. That's easy. What I'm still unsure of is where the next failure point is. I sometimes get double failures in a row and unsure if I'm drawing it right.

Has this chart already had another expectation failure, or does that not happen until it closes beyond point A?

Cheers
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  • #40,616
  • May 17, 2018 10:43pm May 17, 2018 10:43pm
After some reviewing, I believe price needs to close beyond point A for it to fail.

I looked at a chart I posted ages ago and was told where the second failure point was. So when expectation fails, eg from NSL to NSH, you then take the LH that it failed , "reverse it" and its now a NSH, then pulls back to NSL which gets reversed into a HL, and then that's the new 'fail' point?

I redrew my chart above to illustrate in black text with white background. If price goes below point A it fails, until then it still expects a NSH. If I'm wrong on that please let me know
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  • #40,617
  • May 18, 2018 1:35am May 18, 2018 1:35am
Quoting Onlinepips
Hey guys, NZDUSD M1 Same question as before, this time I marked out point A and point B. Price made an expectation failure. That's easy. What I'm still unsure of is where the next failure point is. I sometimes get double failures in a row and unsure if I'm drawing it right. Has this chart already had another expectation failure, or does that not happen until it closes beyond point A? Cheers {image}
Hi onlinepips , suggest you try out thinkorswim platform tick chart, it provide futures data too , I am using it to trade the Eurusd /6e , trade were executed on mt5 , tick chart provide better info about price
  • #40,618
  • May 18, 2018 4:45am May 18, 2018 4:45am
Took this trade yesterday evening (closed it before market end); (20.00 my time = 14.00 US time). Target would have been hit.
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  • #40,619
  • May 18, 2018 6:26am May 18, 2018 6:26am
trade placed yesterday afternoon, very choppy. +19
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  • #40,620
  • May 18, 2018 6:35am May 18, 2018 6:35am
Longer term taken out at +50 points. Next!
If you fail to plan, you plan to fail.
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