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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

  • #41,541
  • Jun 25, 2018 1:46pm Jun 25, 2018 1:46pm
Quoting evocpr19
{quote} We got a clear NSL (second corner of your first triangle). However, price corrected far too much and ended in re-test of the previous high (HL) at your top corner of your second triangle. Moreover, look at the bulls candles versus bears candles from the bottom corner of your second triangle to the said top corner of your second triangle. Moreover, price was not able to pass the 24180 area to the downside. For me, this gave me more confidence for a 1:1 to the upside. Hope this helps. PS: I was negative during the day, but could good recover...
Thank you. Sure it helps. But I should take only one trade a day from a beginning. I took a long trade and guess what - steep downfall. So what? Next.
  • #41,542
  • Edited 2:34pm Jun 25, 2018 1:50pm | Edited 2:34pm
Hi All, Got a late start today, and the trade in yellow was a real nail biter but managed it from a higher TF , where you see my last entry short to average a better price. Closed all at structure for a total of 251 points for the day because I didn't want to hold overnight.
Take Care
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Always Learning
  • #41,543
  • Jun 25, 2018 4:06pm Jun 25, 2018 4:06pm
Quoting Sheeep44
Currently long. {image}
Update:
Voila.
Nice 2:1 return.
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"Luck is when opportunity meets preparation"
  • #41,544
  • Jun 25, 2018 5:39pm Jun 25, 2018 5:39pm
Quoting Pair-me-up
{quote} My platform has been acting glitchy as well. Grrrr~!
funny, mine too during todays NY session (especially the beginning)...
and I am not using future nor NT feeds....
  • #41,545
  • Jun 26, 2018 12:03am Jun 26, 2018 12:03am
Quoting Pair-me-up
{quote} The bears approached 24282 with significant power. So, that shows me the possibility for it to go down to my next number of 24159. However, there are a few things I am working on. I do see the 1:1 but I didn't trust it with so much selling power from the bears.
Well... It is another fine Tuesday afternoon here in Taiwan. Taking a look at my charts, I see that price achieved the 24159 not to long after I went to sleep.

Little by little I can see that the structure is the king and the bar by bar is another king. Also... in my view, the swings are bar by bars that are just viewed from watching smaller bars that make up bigger bars of stronger volume.

I could be wrong, but I must continue to practice my theory and see if I am wrong or have an edge.
Luck has no place in trading. Leave that for the poker table.
  • #41,546
  • Jun 26, 2018 5:18am Jun 26, 2018 5:18am
Hello guys,

Would you consider a short here? Expectation is a NSL. R/R is looking good. Or is there something I don't take into account now?

Thanks.

Regards,

Gunnar
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  • #41,547
  • Jun 26, 2018 5:34am Jun 26, 2018 5:34am
These things really confuse me. What is the proper structure analysis? The first or the second picture?

In my opinion this is essential for the expectation.

Picture 1
The pink correction did not make it to the 38.2% fib level, so should we ignore it as a correction? If the picture is correct we are dealing with a failed expectation here and the new expectation is a deep correction and an NSL.

Picture 2
Assuming price needs to at least correct to the 38.2% fib level, we must ignore the retracement that was marked on picture 1. Now the expectation is an NSH.

Thanks guys.
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  • #41,548
  • Jun 26, 2018 5:39am Jun 26, 2018 5:39am
Quoting Bruin813
These things really confuse me. What is the proper structure analysis? The first or the second picture? In my opinion this is essential for the expectation. Picture 1 The pink correction did not make it to the 38.2% fib level, so should we ignore it as a correction? If the picture is correct we are dealing with a failed expectation here and the new expectation is a deep correction and an NSL. Picture 2 Assuming price needs to at least correct to the 38.2% fib level, we must ignore the retracement that was marked on picture 1. Now the expectation...
Depends on your rules brother. And this is where the subjectivity comes into play. You can see the charts from 2 different angles, like you showed above. Try to make as clear rules as possible, so you rule out as much subjectivity as you can. But there is always going to be some kind of subjectivity to it.. Some take the 38.2 fib retracement other take just clear swing highs and lows, some trade the immediate OF. So this part is up to you, backtest some ideas and see how they work out.
"Luck is when opportunity meets preparation"
  • #41,549
  • Jun 26, 2018 6:28am Jun 26, 2018 6:28am
Quoting Bruin813
These things really confuse me. What is the proper structure analysis? The first or the second picture? In my opinion this is essential for the expectation. Picture 1 The pink correction did not make it to the 38.2% fib level, so should we ignore it as a correction? If the picture is correct we are dealing with a failed expectation here and the new expectation is a deep correction and an NSL. Picture 2 Assuming price needs to at least correct to the 38.2% fib level, we must ignore the retracement that was marked on picture 1. Now the expectation...
As Sheeep44 mentioned: It depends on your rules. And also what order flow you want to trade.

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As you can see from my first Chart, my overall expectation is for a NSL and Price is correcting at the moment. In the more immediate oder flow we can see price achieve a 1:1 to the upside right into an are of structure. I'd probably start looking for shorts in the more immediate order flow as soon as price makes a NSL.


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From my second Chart you can see that price broke structure and made a NSH with great momentum. The correction was weak as expected, right into an area of structure. Then price achieved a 1:1 to the upside to make a good NSH but with a lot less momentum. I'm expecting a deeper correction and would start looking for longs in my are of interest (green box).

My expectation is for price to achieve a 1:1 so I mostly ignore the immediate immediate oder flow until price achieves this.

It really depends on your rules and perspective; if you want to look at longer term order flow and more immediate order flow together.

There is no right or wrong here.
  • #41,550
  • Jun 26, 2018 6:46am Jun 26, 2018 6:46am
Short.
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"Luck is when opportunity meets preparation"
  • #41,551
  • Jun 26, 2018 9:10am Jun 26, 2018 9:10am
It seems as thought the bulls and the bears are pole dancing around 24282
I might get taking out, but I have picked up a few break even points tonight... Let's see how it goes and if I will have a chance to extend my target or will I have to change my bias.
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Luck has no place in trading. Leave that for the poker table.
  • #41,552
  • Jun 26, 2018 9:16am Jun 26, 2018 9:16am
Taken out. Looking for the next set up.
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Luck has no place in trading. Leave that for the poker table.
  • #41,553
  • Jun 26, 2018 9:36am Jun 26, 2018 9:36am
Short again. Although there is a battle in this area. I think that the bears are slightly stronger.
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Luck has no place in trading. Leave that for the poker table.
  • #41,554
  • Jun 26, 2018 9:41am Jun 26, 2018 9:41am
What a difference a day makes. Cant seem to get in tune with market today. Done for now with -53 for the day.
Hope all Have Good trading today
Take Care
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Always Learning
  • #41,555
  • Jun 26, 2018 9:41am Jun 26, 2018 9:41am
No trades for me, horizontal price action. Price needs to get moving.
  • #41,556
  • Jun 26, 2018 9:49am Jun 26, 2018 9:49am
I have locked in enough points to wipe out my negative points and add some positive points.
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Luck has no place in trading. Leave that for the poker table.
  • #41,557
  • Jun 26, 2018 10:05am Jun 26, 2018 10:05am
Was hoping to see a 1:1 to the downside, but got taken out with my last position. So gave some profit back
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  • #41,558
  • Jun 26, 2018 10:30am Jun 26, 2018 10:30am
Quoting Sheeep44
{quote} Update: Voila. Nice 2:1 return. {image}
Currently at BE.
1 winning pattern turning into a BE pattern and with this much upside momentum, possibly being another winning pattern.

Can you guys spot the next pattern, we are nearly there.
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"Luck is when opportunity meets preparation"
  • #41,559
  • Jun 26, 2018 10:36am Jun 26, 2018 10:36am
Quoting Sheeep44
{quote} Currently at BE. 1 winning pattern turning into a BE pattern and with this much upside momentum, possibly being another winning pattern. Can you guys spot the next pattern, we are nearly there. {image}
I don't really know the patterns. But your charts kind of remind me of CNtrader here at forexfactory.
Luck has no place in trading. Leave that for the poker table.
  • #41,560
  • Jun 26, 2018 10:43am Jun 26, 2018 10:43am
USDX M15 Short
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