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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

  • #42,021
  • Jul 20, 2018 10:22pm Jul 20, 2018 10:22pm
Quoting S41nt
{quote} 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.
Ok, I understand , you wouldn't take a retest as reference point of momentum cause it can change into actually a continuation thus become invalid as a retest. Although there was possibility for the retest to become actual correction but you will just pass by the trade.

thanks
  • #42,022
  • Jul 21, 2018 12:19pm Jul 21, 2018 12:19pm
Hello fellow traders!

What do you guys think about the YM’s current state and further development throughout the next days?
I wanted to share my analysis/view with you. Let me know what you think.

For the longer term my expectation is for a NSH, since we produced one on July 10, followed by a HL.
Price came up to the 127 fib of the previous swing and achieved another NSH on July 18. Though with a lot less momentum and a lot of absorption from the sellers compared to the previous NSH that had great momentum and strong buying. Therefore, you could expect the correction happening soon, because of weakness of the buyers and exhaustion levels. Damian took his short there.

Price corrected down and found support and strong buying at the 50% retracement and structure of the previous NSH. The sellers tried three times to push price lower but failed. The buyers were able to absorb all selling that happened early on July 20’s session.

In the shorter-term price produced a NSL after absorbing all the selling from the beginning of the session and reaching into an area of resistance where the sellers came in. The expectation is still for a NSL, but the sellers have difficulties producing it while the buyers found support and show good strength.

Let’s see where price goes when the market is open again.

Enjoy your weekend!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: YM 09-18 (1597 Tick) 2018_07_21 (7_15_46 PM).png Size: 109 KB
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_07_21 (7_14_48 PM).png Size: 55 KB
  • #42,023
  • Jul 21, 2018 6:21pm Jul 21, 2018 6:21pm
Quoting bmdenton23
{quote} Here you go, explanation on the chart. {image}
Thanks, That's very informative
  • #42,024
  • Jul 22, 2018 2:54am Jul 22, 2018 2:54am
Quoting Hansl
Hello fellow traders! What do you guys think about the YM’s current state and further development throughout the next days? I wanted to share my analysis/view with you. Let me know what you think. For the longer term my expectation is for a NSH, since we produced one on July 10, followed by a HL. Price came up to the 127 fib of the previous swing and achieved another NSH on July 18. Though with a lot less momentum and a lot of absorption from the sellers compared to the previous NSH that had great momentum and strong buying. Therefore, you could...
Hi Hansl, I can't afford the risk of the HTF, but to me the green box should be filled at some point during next week. If something happens on the 233 that is in line with this expectation then I might extend my target, but right now I have zero expectation because I have to wait for the 'now' (in the moment) of trading to see where price will go.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 1H long projection.png Size: 74 KB
  • #42,025
  • Jul 22, 2018 7:48am Jul 22, 2018 7:48am
Quoting Bodiddi
{quote} Hi Hansl, I can't afford the risk of the HTF, but to me the green box should be filled at some point during next week. If something happens on the 233 that is in line with this expectation then I might extend my target, but right now I have zero expectation because I have to wait for the 'now' (in the moment) of trading to see where price will go. {image}
Hi Bodiddi,

neither can I. I am trading the 89T Chart or, if I can afford, the 233T Chart. I like to know what is going on in the higher time frame (1597T). Though I will not let manipulate my trading decisions in the lower time frames by higher time frame expectations.

Right now my expectation is for a NSH in the higher time frame, but I will of course take trades against it in the lower time frames, if my expectation is for a NSL there.

It depends on which order flow is traded.

Yes, you are right. Maybe price will retest the last highs there, but lets see when market finally opens again.
  • #42,026
  • Jul 22, 2018 11:30am Jul 22, 2018 11:30am
Hi everyone

i been receive recommend to draw s/r on chart which I also think I am not good in this yet.
thus I has draw a few on chart and hope you guys can comment also give advice for amendment and improvement

My SOP was
1. Identify strong correction area ( basically was order flow high and low , the circle was this step )
( those small correction in middle of order flow are not as important )
2. Draw from highest and lowest area first , thus create a space in between
3. Next was middle which normally has 2-3 rectangle
Done

not sure about this , but the way to know whether right or wrong was by seeing how price react to these zone later , especially when price strongly corrected from there.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: IMG_0294.PNG Size: 158 KB
Click to Enlarge Name: IMG_0296.PNG Size: 154 KB
Click to Enlarge Name: IMG_0295.PNG Size: 156 KB
  • #42,027
  • Jul 22, 2018 8:07pm Jul 22, 2018 8:07pm
YM 4000tick short going well. Needed to cover some profit because I have a limited intra-day and intra-trade drawdown, just part of plan. See if there is any further push down without getting stopped out.
Attached Image (click to enlarge)
Click to Enlarge Name: July 23 YM morning trade short.png Size: 80 KB
  • #42,028
  • Jul 22, 2018 10:47pm Jul 22, 2018 10:47pm
Quoting Bodiddi
YM 4000tick short going well. Needed to cover some profit because I have a limited intra-day and intra-trade drawdown, just part of plan. See if there is any further push down without getting stopped out. {image}
Closed this out for 49 ticks.
  • #42,029
  • Jul 23, 2018 4:37am Jul 23, 2018 4:37am
I want to draw attention to this. Is this not a gartley pattern?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4 gartley.png Size: 27 KB
  • #42,030
  • Jul 23, 2018 5:14am Jul 23, 2018 5:14am
Quoting menek
I want to draw attention to this. Is this not a gartley pattern? {image}
It looks like a gartley. Just draw some ratios in and check.
Attached Image (click to enlarge)
Click to Enlarge Name: bullish-gartley-harmonic-target.png Size: 32 KB
  • #42,031
  • Jul 23, 2018 7:42am Jul 23, 2018 7:42am
Long.
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2018-07-23 om 14.41.18.png Size: 91 KB
"Luck is when opportunity meets preparation"
  • #42,032
  • Jul 23, 2018 10:21am Jul 23, 2018 10:21am
Traded for 2 hours and only took 1 trade. Really working on the patience aspect of it and today was a great exercise!
Attached Image (click to enlarge)
Click to Enlarge Name: cT_c_EURUSD_2018-07-23_17-18-09.png Size: 49 KB
"Luck is when opportunity meets preparation"
  • #42,033
  • Jul 23, 2018 10:36am Jul 23, 2018 10:36am
YM - IOF Gartley
  • #42,034
  • Edited 1:39pm Jul 23, 2018 11:02am | Edited 1:39pm
Quoting bmdenton23
YM - IOF Gartley
Did not get the rotation I wanted to see. Are you in?

Shorted now.
Update: Out BE with some extra points. I will call it a day.
  • #42,035
  • Jul 23, 2018 2:25pm Jul 23, 2018 2:25pm
Quoting Hansl
{quote} Did not get the rotation I wanted to see. Are you in? Shorted now. Update: Out BE with some extra points. I will call it a day.
Unfortunately yes I did get in short and am still in trying to rescue the day. I'll post my charts when I've closed all my position.
  • #42,036
  • Jul 23, 2018 2:25pm Jul 23, 2018 2:25pm
Winner Winner Chicken Dinner..
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2018-07-23 om 21.24.42.png Size: 78 KB
"Luck is when opportunity meets preparation"
  • #42,037
  • Jul 23, 2018 2:30pm Jul 23, 2018 2:30pm
One BE Longer term ( green pattern) ( still open ) completing, is the start of another, lets see how this plans out.

Plan your trade, trade your plan, have a good week everyone I am out ..
Attached Image (click to enlarge)
Click to Enlarge Name: Schermafbeelding 2018-07-23 om 21.30.09.png Size: 116 KB
"Luck is when opportunity meets preparation"
  • #42,038
  • Jul 23, 2018 3:02pm Jul 23, 2018 3:02pm
YM - finishing the day +1. Was up +75 on a trade that came back to BE. Wasn't able to lock in behind structure.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 105 KB
  • #42,039
  • Jul 23, 2018 3:30pm Jul 23, 2018 3:30pm
Todays trade. Short on GU for 37 pips. Got in on an outstanding rotation bar after making a deep correction from a NSL.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 63 KB
Damn The Torpedoes, Full Speed Ahead!
  • #42,040
  • Jul 23, 2018 3:30pm Jul 23, 2018 3:30pm
Quoting bmdenton23
YM - finishing the day +1. Was up +75 on a trade that came back to BE. Wasn't able to lock in behind structure. {image}
No loss, thats what counts!

I wanted to go short as well where you entered first, but too much risk for me.

I hope we get some more movement in price tomorrow.
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