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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

  • #42,001
  • Jul 19, 2018 9:19pm Jul 19, 2018 9:19pm
I actually too profit I forgot not trading tomorrow going fishing with my kids. Took 52K on this one. Nice trade
If you fail to plan, you plan to fail.
  • #42,002
  • Jul 19, 2018 10:42pm Jul 19, 2018 10:42pm
Hello Mr. Pip and fellow traders, I'm having a little trouble identifying the difference between real main swings and where at times complex corrections distort the main swing. In this gbpjpy 4H chart, did I identify the main swing correctly? Thank you!
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  • #42,003
  • Jul 19, 2018 10:46pm Jul 19, 2018 10:46pm
Quoting Nikster
Look if you took only the "D"entries today with your stop behind the 168extension of the first swings. This is what I learned on this thread thank you Damian. I see the possibilities and the next step for me is to create time to trade every day and with discipline{image}
Thanks
  • #42,004
  • Jul 20, 2018 1:46am Jul 20, 2018 1:46am
Abit unsure what to trade on EU

anyone ?
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  • #42,005
  • Jul 20, 2018 2:20am Jul 20, 2018 2:20am
Quoting 6288monkey
Abit unsure what to trade on EU anyone ? {image}
Right now iŽd sit on my hands!!! This is as important to becoming a winner as making good reads. Know when not to Trade .
  • #42,006
  • Jul 20, 2018 2:42am Jul 20, 2018 2:42am
Quoting Bodiddi
Hello Mr. Pip and fellow traders, I'm having a little trouble identifying the difference between real main swings and where at times complex corrections distort the main swing. In this gbpjpy 4H chart, did I identify the main swing correctly? Thank you! {image}
Hi Bodiddi,

my analysis of GBPJPY 4H.
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  • #42,007
  • Jul 20, 2018 2:44am Jul 20, 2018 2:44am
Quoting Hansl
{quote} Hi Bodiddi, my analysis of GBPJPY 4H. {image}
Hi Hansl, that helps so much, thank you! I wasn't looking far back enough.
  • #42,008
  • Jul 20, 2018 9:52am Jul 20, 2018 9:52am
Hi everyone , does 1 to 1 completion need to atleast corrected to 61.80?

i keep shorting at each time price created 1 to 1 with SL at 161.80

i been taken out 4 SL lols

though I won't be going long either , since price dint correct far enough for good rr
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  • #42,009
  • Jul 20, 2018 10:04am Jul 20, 2018 10:04am
Hello Mr.pips see my chart. This is my ABCD pattern I hope, I am correct? I am learning how to spot pattern
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  • #42,010
  • Edited 10:45am Jul 20, 2018 10:21am | Edited 10:45am
Quoting 6288monkey
Hi everyone , does 1 to 1 completion need to atleast corrected to 61.80? i keep shorting at each time price created 1 to 1 with SL at 161.80 i been taken out 4 SL lols though I won't be going long either , since price dint correct far enough for good rr {image}
Looking at your chart, I wouldn't have taken a D completion trade until the very end because order flow is strong for each leg going up. The fractions are how many aspects of order flow are strong. So with 2 of 3 in favor of the strength of the trend, I would not be looking for exhaustion trades, rather looking for trades in favor of the trend. The only 1:1 completion trade i would look at early would be the third leg due to the breakdown in momentum, but because the strongest structure is the red rectangle, the R:R isn't worth taking the trade in case it finds resistance there (which it did). Towards the top of the trend, you can see that breakdown is appearing again, order flow has now weakened to 1/3 and corrections are getting deeper. So personally the only time I would look to take a 1:1/fib exhaustion completion would be either at the 1:1 at the top or the following leg afterwards.

PS, you can also see the micro swings gaining strength to the downside in the last move as added confluence.
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  • #42,011
  • Edited 11:21am Jul 20, 2018 11:10am | Edited 11:21am
Quoting S41nt
{quote} Looking at your chart, I wouldn't have taken a D completion trade until the very end because order flow is strong for each leg going up. The fractions are how many aspects of order flow are strong. So with 2 of 3 in favor of the strength of the trend, I would not be looking for exhaustion trades, rather looking for trades in favor of the trend. The only 1:1 completion trade i would look at early would be the third leg due to the breakdown in momentum, but because the strongest structure is the red rectangle, the R:R isn't worth taking the...
S41nt, thanks a lot for you feedback

not sure I am right on this , but the line you draw need to move to the most right am I correct?
Then you can momentum actually decreased

because what I see on live chart was price retested those high with rotation , some even I waited price break very iof with weak bull strong bear or rotation.

the price just keep on climbing , that why I ask was it neccessary for price to correct atleast 61.80 before considering trading 1 to 1 completion

i have read this before too but still very new on trading exhaustion
https://www.forexfactory.com/attachment.php/1091527?attachmentid=1091527&d=1354475099

update : added picture for better understanding what I try to say
rectangle was end of momentum line? Or atleast at live chart I enter after seeing those rectangle
2nd picture was overview of today market
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  • #42,012
  • Jul 20, 2018 11:24am Jul 20, 2018 11:24am
Quoting 6288monkey
{quote} S41nt, thanks a lot for you feedback not sure I am right on this , but the line you draw need to move to the most right am I correct? Then you can momentum actually decreased because what I see on live chart was price retested those high with rotation , some even I waited price break very iof with weak bull strong bear or rotation. the price just keep on climbing , that why I ask was it neccessary for price to correct atleast 61.80 before considering trading 1 to 1 completion i have read this before too but still very new on trading exhaustion...
Of course, I'm just here to learn as well my friend.

I think you could probably look at it both ways, but I do see what you mean. The reason I highlighted it as it is, is because looking at the swing in that way, you can see price corrected to the right area in line with order flow and then retested the high maybe peaking above it some only to continue on further. I think I've mentioned this earlier, but I will never enter on a retest of anything because I have lost money in doing so. Looking at the high as a retest, retail traders will think double top after weakness and get short only for larger traders to pump money in and blow through stops. So anything that looks like a double top or a retest, I wait until a break of structure to go against. While i do agree with price correcting deeper after 1:1 completions, i think watching price action and order flow will help you decide if it looks like a reasonable trade to take and if a deep correction looks likely to happen. I do hope this helps/makes sense.

EDIT: I understand what you mean, today's market overall has been a hard read. I wasn't able to find any entrys on the 1m.
  • #42,013
  • Jul 20, 2018 11:32am Jul 20, 2018 11:32am
Quoting S41nt
{quote} Of course, I'm just here to learn as well my friend. I think you could probably look at it both ways, but I do see what you mean. The reason I highlighted it as it is, is because looking at the swing in that way, you can see price corrected to the right area in line with order flow and then retested the high maybe peaking above it some only to continue on further. I think I've mentioned this earlier, but I will never enter on a retest of anything because I have lost money in doing so. Looking at the high as a retest, retail traders will...
" So anything that looks like a double top or a retest, I wait until a break of structure to go against. While i do agree with price correcting deeper after 1:1 completions "

can an explain more the highlighted word?
build case example would be great
  • #42,014
  • Jul 20, 2018 11:43am Jul 20, 2018 11:43am
A big losing while trying to anticipate an unsure and ranging order flow
then price break range with not much correction
i do manage to get a few point from the upmove
but dint get much of the overall after trailing out at candle

This put me into a losing week, it might not be as bad consider 7usd cost for each trade.
( if average 10trade per day, a win of 10pips was become 3pips , while a lose of 10pips become 17pips )
( Quite sure 89tick won't be a good choice to trade on mt4 )

Good trading and thanks
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  • #42,015
  • Jul 20, 2018 12:28pm Jul 20, 2018 12:28pm
Hope all are doing well. I've been quite busy recently... However, since I started demo trading a new 10k account, I have grown it to 26.23% as of the end of the day. I didn't trade the week that had the 4th of July holiday. So, my account has been accomplished in 3 weeks.

Have a great weekend all.
Luck has no place in trading. Leave that for the poker table.
  • #42,016
  • Jul 20, 2018 1:23pm Jul 20, 2018 1:23pm
I had 2 trades today. the first was after a small AB=CD completion and a even smaller one which had the same target for D and since the risk was small I took it and plzaced stop behind the 1.618 of the first leg but got stopped out

The second trade was a very hard lesson on stick to the plan because I only want to take D entries because my results with C entries were bad and I made A big mistake with the OF. I thought I entered at the 78.6 of the mainswing but it was in a complex correction so when I saw that I adjusted my stop and the risk/reward was terrible of course and after a retest on the immidiate OF I reduced some risk but still a big loss. I was profitable for the week but now I'm 80 points negative.
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  • #42,017
  • Jul 20, 2018 1:53pm Jul 20, 2018 1:53pm
One big rescue attempt today, survived by 7 points and ended up +24 on the day.

Week
10 trades
9x Winners (6x BE) = +94
1x Loser= -5
W/L 90%
----------------------------------
Total +89
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  • #42,018
  • Jul 20, 2018 5:17pm Jul 20, 2018 5:17pm
Quoting 6288monkey
{quote} " So anything that looks like a double top or a retest, I wait until a break of structure to go against. While i do agree with price correcting deeper after 1:1 completions " can an explain more the highlighted word? build case example would be great
Here you go, sorry that was bad wording on my part. I wouldn't go short at the retest because the 1:1 has already been completed at the prior high. So getting short at the retest is a retail way of trading (double top) and since it is against the dominant trend, i wouldn't be surprised if it is quickly blown past as larger traders blow through the stops. So what i meant by waiting for a break and going against that, I would've waited for the next harmonic leg to complete before trading the correction.
  • #42,019
  • Jul 20, 2018 5:38pm Jul 20, 2018 5:38pm
Quoting Bodiddi
Hello Mr. Pip and fellow traders, I'm having a little trouble identifying the difference between real main swings and where at times complex corrections distort the main swing. In this gbpjpy 4H chart, did I identify the main swing correctly? Thank you! {image}
Hello my friend this happens sometimes. Specially when market start to consolidate. If you look back a couple of swings price is within a clear high and a clear low. The is your main swing and price is in a complex correction of that swing.
If you fail to plan, you plan to fail.
  • #42,020
  • Jul 20, 2018 7:31pm Jul 20, 2018 7:31pm
Quoting Mr. Pip
{quote} Hello my friend this happens sometimes. Specially when market start to consolidate. If you look back a couple of swings price is within a clear high and a clear low. The is your main swing and price is in a complex correction of that swing.
Thank you for the help Mr. Pip! I actually need more time in a day to watch you videos, they are awesome.
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