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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

  • #40,661
  • May 19, 2018 3:57pm May 19, 2018 3:57pm
Quoting Coreg2004
{quote} Pampaq, your nice work has inspired me to join your forces, so I prepared 2 charts for euro, one for 6E futures contract and other for forex spot....For those who like to trade based on harmonic patterns, here there are...Good luck with your trading.
What about simple price action principles. Break of TL or structure after a break of a TL. It seems much easier and no need to predict where price might reverse. Anyway, in a down trend like we are seeing on the EURO, any test of a prior swing low can be the start of a reversal. So why not wait for a break of structure, trendline and look for a long when price is mature for a change of direction?

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  • #40,662
  • May 19, 2018 5:34pm May 19, 2018 5:34pm
Quoting crixus
{quote} What about simple price action principles. Break of TL or structure after a break of a TL. It seems much easier and no need to predict where price might reverse. Anyway, in a down trend like we are seeing on the EURO, any test of a prior swing low can be the start of a reversal. So why not wait for a break of structure, trendline and look for a long when price is mature for a change of direction? {image}
Crixus, by establishing PRZ I have great confidence that trade has a bigger probability to work, why? ...because PRZ contains ending formations such as crab, butterfly or 3 drives which tells us the extreme might be in place. Yes, in my trading book reversals exist. When I mark PRZ with these patterns in it and take the trade my imminent target is 38.8-50% retracement of the entire swing up or down....... Trendline break (TLB 1-2-3) and SH/SL taken out are only triggers. As a matter of fact, together with 2B, they are my 3 favored triggers I depend upon. If you check my previous charts when I posted my trades you will find out that it's the case.....Please check this post..
https://www.forexfactory.com/showthread.php?p=11077172#post11077172
also, the charts below......I agree with you, that during fast markets we don't have time to dress our charts with fancy drawings when we trade, the glance at the chart tells us all we need to know... Good luck with your trading.
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Always trade your own plan...I don't provide trading signals.
  • #40,663
  • May 19, 2018 5:49pm May 19, 2018 5:49pm
Quoting Sheeep44
{quote} How do you get tick-charts on a mac. I have windows parrallels. But that sh*t is just bad.. Since you are trading on a mac, how do you het tick charts?
Uh oh.. well I actually use parallels. I followed this YouTube guide they have the new version out too:
https://m.youtube.com/watch?v=inaArCkdhC8

What are the issues you’re having with it?
I know every weekend I shut down the windows and parallel. This way it seems to reset it- previously it would crash at least once a week but now that I shut down both the programs I haven’t had any issues. I also believe the new 13 version fixes that problem.
  • #40,664
  • Edited 6:33am May 20, 2018 5:42am | Edited 6:33am
Quoting Coreg2004
{quote} Crixus, by establishing PRZ I have great confidence that trade has a bigger probability to work, why? ...because PRZ contains ending formations such as crab, butterfly or 3 drives which tells us the extreme might be in place. Yes, in my trading book reversals exist. When I mark PRZ with these patterns in it and take the trade my imminent target is 38.8-50% retracement of the entire swing up or down....... Trendline break (TLB 1-2-3) and SH/SL taken out are only triggers. As a matter of fact, together with 2B, they are my 3 favored triggers...
Hi :
I have spent a lot of time studying the harmonic pattern and applying them on my trades, in MHOP and according to my experience, their failure rate is more than their success, and i believe the reason that some of them works better is because they contain a hidden ABCD in their structure, nowadays the only harmonics that i use are 3drive patterns and ABCD (AB=CD), I am not trying to predict where the D point would be, and never try to trade the reversal (D point).
The best comment that i have ever heard was what Damian said in his last live session, " Consider every movement in reverse direction ,a CORRECTION, and NOT a Reversal", what this means is that, always expect continuation of the existing trend and trade C points, unless your expectation on the swing you are trading, fails.
(whether it is on 1M , 4H or daily chart)

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}
My last week loss on weekly USDJPY was that after a long time i wanted to trade the D point and correction(that i have expected to go down, for at least 120 pips before price continuing in the direction of trend ).
Look at the last Bar, the green resistance line was supposed to hold. And the message in it for me " Never Try To Predict Where Trend Would End"
(The two Red lines, were my first and 2nd AOI for taking long position)
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This is the Daily chart of the same region , with a perfect rotation bar 2 weeks ago, and what i was expecting to be a retest of structure ,last week.
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  • #40,665
  • May 20, 2018 9:03am May 20, 2018 9:03am
Quoting Coreg2004
{quote} Pampaq, I will exchange my charts with pleasure. My trading method is based on harmonic patterns, I am a big fan of Scott Carney's work since trading community started to buzz about his approach to markets in late 90's early 2000's. (If you are interested please check my profile I posted some time ago Scott's Harmonic Trader.pdf files) ....Last Wednesday I took the same trade as you although I trade futures (6E) the pattern is identical on both charts. I mark only PRZ on my charts because I know what I am looking for when I trade and also...
Thx.Situational awareness That could be the concept behind looking and controlling impulses and setbacks. In other words, to look harmoniously at trade. Another concept is the concluencia. There the structure, the order flow, and PA must be in harmony with the FIBOS. To unite all this, weighing each factor, is almost an art. I think that in this place, created by Mr Pip, one can learn all that, and more. Greetings and we keep going. Every day in green.
  • #40,666
  • May 20, 2018 12:14pm May 20, 2018 12:14pm
Nice 2 potential setups I am looking at! Have a safe trading week, everyone!
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"Luck is when opportunity meets preparation"
  • #40,667
  • May 20, 2018 12:23pm May 20, 2018 12:23pm
One more before I sign off.
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"Luck is when opportunity meets preparation"
  • #40,668
  • May 20, 2018 1:07pm May 20, 2018 1:07pm
[quote=pampaq;11078723]{quote}..... There the structure, the order flow, and PA must be in harmony with the FIBOS. To unite all this, weighing each factor, is almost an art. ...

Agree, I couldn't say it any better.
Always trade your own plan...I don't provide trading signals.
  • #40,669
  • May 20, 2018 1:09pm May 20, 2018 1:09pm
Quoting parviz1953
{quote} Hi : I have spent a lot of time studying the harmonic pattern and applying them on my trades, in MHOP and according to my experience, their failure rate is more than their success, and i believe the reason that some of them works better is because they contain a hidden ABCD in their structure, nowadays the only harmonics that i use are 3drive patterns and ABCD (AB=CD), I am not trying to predict where the D point would be, and never try to trade the reversal (D point). The best comment that i have ever heard was what Damian said in his last...
Parviz, after examining your charts I have a question; what harmonic pattern and on what time frame failed you? because I don't see one. IMO you mix 2 different approaches (harmonics v. expectations -which exclude each other) to trade the markets, bad idea if you ask me.........I don't see on a daily chart any PRZ (2-3 harmonic ratios in tight range) with any completed bearish pattern in it to go short. Parviz based on the trade you had taken I doubt you fully grasped the concept how to trade harmonic patterns yet?...If you read my posts you are probably familiar with my saying: "To trade the markets use something what speaks to you, what makes you comfortable and most of all what makes you money" and this is what I wish you. Good luck with your trading.
Always trade your own plan...I don't provide trading signals.
  • #40,670
  • May 20, 2018 3:22pm May 20, 2018 3:22pm
Hi Mr Pip,

Placing your trade status(Trade entry,BE and taken out points) really help me a lot. I backtest using market replay for a day on 233 tick charts, afterwards i evaluate my trades against yours and determine what i could have done better and where my mistakes lie.

Thank you!
  • #40,671
  • Edited 4:01pm May 20, 2018 3:32pm | Edited 4:01pm
Quoting Coreg2004
{quote} Parviz, after examining your charts I have a question; what harmonic pattern and on what time frame failed you? because I don't see one. IMO you mix 2 different approaches (harmonics v. expectations -which exclude each other) to trade the markets, bad idea if you ask me.........I don't see on a daily chart any PRZ (2-3 harmonic ratios in tight range) with any completed bearish pattern in it to go short. Parviz based on the trade you had taken I doubt you fully grasped the concept how to trade harmonic patterns yet?...If you read my posts...
Sorry , indeed this was 2 different post that i merge accidentally , the first part was my idea about the harmonic patterns, and in response to your suggestion, and 2nd part was my weekly report and update on my trades on a demo account on weekly USDJPY pair that i am taking just as an experiment, the last Swing up is the correction of the CD leg of the yellow ABCD and the Blue abcd at their completion ,which i expected to reverse at the Green line ,but it is extending and going even higher, now at the 61.8% of the yellow CD leg. it was just that, and i believe it will go to correction and comes to my level one AOI soon, before touching the upper channel boundery, where i am waiting to take long position there. (By the way i believe i have grasped it buddy, and i wish you too , green pips on harmonics other than ABCD...)
  • #40,672
  • May 20, 2018 6:17pm May 20, 2018 6:17pm
Quoting Coreg2004
{quote} Pampaq, I will exchange my charts with pleasure. My trading method is based on harmonic patterns, I am a big fan of Scott Carney's work since trading community started to buzz about his approach to markets in late 90's early 2000's. (If you are interested please check my profile I posted some time ago Scott's Harmonic Trader.pdf files) ....Last Wednesday I took the same trade as you although I trade futures (6E) the pattern is identical on both charts. I mark only PRZ on my charts because I know what I am looking for when I trade and also...
hi coreg is this charts patterns are drawn by any indicator or manually
Success is a Journey Not a Destination....... kind regards ramzam
  • #40,673
  • May 21, 2018 4:07am May 21, 2018 4:07am
Hello traders,
Just a little hint to those who are finding it difficult to read the chart properly. Many of us here have failed to realize the importance of a moving average. I know mr. Pip doesn't use any indicator but that is because he has been in the game for a longer time and he is more grounded psychologically. For newbies or those finding it difficult to stay on the right side if the orderflow you can use this:
1. Place a 240 sma/ema on a 1 min chart.
2. Anything abive the MA is a buy and below is sell. With this simple technique, we can always know when a NSH/NSH is made i.e when price crosses the 240 ma and can easily trade the first pullback.
I don't take credit for the use of this MA. I also learnt it here on ff. I believe if many us try applying then we will most of the time be on the right side of the market. It simplifies mr pips method. Just a suggestion though.
  • #40,674
  • May 21, 2018 6:32am May 21, 2018 6:32am
Thoughts on YM?

High volume of sellers coming in and evidence of strong resistance....
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  • #40,675
  • Edited 11:16am May 21, 2018 8:27am | Edited 11:16am
Ηι Ι am from Hellas (Greece).

My today trades.

1 loss in short order flow. (-5 pips)
2 winner in indraday o.f (+ 20 pips)
1 rescue with small profit.( +1 pips)

Total 16 pips.

That means to follow trade plan. (THIS IS HOLY GRAIL!!)

i use 1min/5min on eur-usd but i have problem with a spread. I cant manage the trades correct but its ok.



THANKS YOU Mr PIP.THANKS YOU. THANKS YOU. I THANK YOU ALL MY LIFE.


My last trade....
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  • #40,676
  • May 21, 2018 9:04am May 21, 2018 9:04am
Trade #1 -23
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  • #40,677
  • May 21, 2018 9:08am May 21, 2018 9:08am
Dam dude no good, i was also going to take this trade but elected not to because of increasing momentum to the downside
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  • #40,678
  • May 21, 2018 9:40am May 21, 2018 9:40am
Hi Damian (Mr Pip)
Long Time Glad to see you are well Took my first trade using your style of trading this morning Hope you don't mind me hanging out with you all, love the positive and constructive energy here.

Take Care
Jay

Ruler says 51 I think but its was more like 45 points on that trade
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Always Learning
  • #40,679
  • May 21, 2018 10:19am May 21, 2018 10:19am
Hi Guys,

When you use a tick chart, you are able to see "Ticks remaining" at the bottom right of your chart. I'm unable to see this feature, is there some way to enable this?

Ticks remaining allows me to time my entries.

Thanks
  • #40,680
  • May 21, 2018 10:20am May 21, 2018 10:20am
Well the losing streak continues

Losers -22, -17, -16
Winner +11
----------------
Total -44

-172 over the last 6 trading days.
12 traders viewing now