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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

  • #42,921
  • Sep 4, 2018 2:20pm Sep 4, 2018 2:20pm
Quoting bmdenton23
{quote} 2nd entry the expectation was for a deep pullback and it did pull back to the 78.6 and to within 3 points of the previous pullback. It was an aggressive entry only because of the smaller swing and the momentous bearish candles the rotation followed. {image}
Thank you for the explanation.
  • #42,922
  • Sep 4, 2018 2:22pm Sep 4, 2018 2:22pm
Quoting evocpr19
{quote} Thank you for the explanation.
Your comments are welcome anytime, I highly value them.
  • #42,923
  • Edited 8:50am Sep 5, 2018 8:33am | Edited 8:50am
My direction for the day.
Last swing broken at the red line. looking for deep pullback to the area around 25960
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Undergoing some pain. did i miss anything in my expectation?
  • #42,924
  • Sep 5, 2018 8:59am Sep 5, 2018 8:59am
Quoting Eyesonthepip
My direction for the day. Last swing broken at the red line. looking for deep pullback to the area around 25960 {image} Undergoing some pain. did i miss anything in my expectation?
I have the same analysis and expectation. I'm in short too. Looks like the sellers are taking over now. Time will tell.
  • #42,925
  • Sep 5, 2018 9:44am Sep 5, 2018 9:44am
Morning All Trades I took Today Stopped out of all +145
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Always Learning
  • #42,926
  • Sep 5, 2018 10:04am Sep 5, 2018 10:04am
YM - Went long early this session. Had to go to work and got triggered with +93.
Attached Image (click to enlarge)
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  • #42,927
  • Sep 5, 2018 10:09am Sep 5, 2018 10:09am
Quoting Hansl
YM - Went long early this session. Had to go to work and got triggered with +93. {image}
Nice Trade
Always Learning
  • #42,928
  • Sep 5, 2018 11:11am Sep 5, 2018 11:11am
Quoting JayTrader
{quote} Nice Trade
Needed after some losing trades the past days...
  • #42,929
  • Sep 5, 2018 11:39am Sep 5, 2018 11:39am
Got stopped out. only trade for the day.
Attached Image (click to enlarge)
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Question: was i looking at the wrong swing?
  • #42,930
  • Sep 5, 2018 12:08pm Sep 5, 2018 12:08pm
Info on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD (89 Tick) 2018_09_05.png Size: 57 KB
"Luck is when opportunity meets preparation"
  • #42,931
  • Sep 5, 2018 12:21pm Sep 5, 2018 12:21pm
Quoting Eyesonthepip
Got stopped out. only trade for the day. {image} Question: was i looking at the wrong swing?
No Market just decided to cycle up. Was looking in the same direction as you, good assessment
Always Learning
  • #42,932
  • Sep 5, 2018 2:30pm Sep 5, 2018 2:30pm
Hi guys,

I'm highly insecure about the trade I took. From my point of view the expectation got broken twice (white lines) and the new expectation was for a NSL. Now price went in my favor (+60 at one point), but the thing I am unsure about is the trade management. Is there anyway I could have foreseen this to happen?

Thanks in advance.

Regards,

Gunnar
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-18 (233 Tick) 2018_09_05 (21_28_03).png Size: 39 KB
  • #42,933
  • Edited 3:10pm Sep 5, 2018 2:58pm | Edited 3:10pm
Quoting Bruin813
Hi guys, I'm highly insecure about the trade I took. From my point of view the expectation got broken twice (white lines) and the new expectation was for a NSL. Now price went in my favor (+60 at one point), but the thing I am unsure about is the trade management. Is there anyway I could have foreseen this to happen? Thanks in advance. Regards, Gunnar {image}
Yes. When you look your reference leg, we never broke below the previous up move (so it is only a retest).
However, PA on your reference leg shows a clear advantage for the bears, so your entry makes sense (in particular R:R), but then price retraced for a downmove very deep and in the middle portion (small leg before your entry), bears were not acting. The second round up even beyond your entry price should never have happened with such a ref. leg.
Hence, when entering that trade I would be much more aggressive with trailing (but I am still rubbish at it, so likely to get kicked out too early).



Hope it helps.
  • #42,934
  • Sep 5, 2018 3:25pm Sep 5, 2018 3:25pm
Quoting Bruin813
Hi guys, I'm highly insecure about the trade I took. From my point of view the expectation got broken twice (white lines) and the new expectation was for a NSL. Now price went in my favor (+60 at one point), but the thing I am unsure about is the trade management. Is there anyway I could have foreseen this to happen? Thanks in advance. Regards, Gunnar {image}
Hi Bruin,

Do you mind me asking why you didn’t move your SL to a BE? One of Damian’s rules is to move your SL to BE when price has hit structure. Price hit structure like a brick wall. You could have at least saved some pain with a BE if you chose not to trail.
  • #42,935
  • Sep 5, 2018 6:51pm Sep 5, 2018 6:51pm
Quoting JayTrader
{quote} No Market just decided to cycle up. Was looking in the same direction as you, good assessment
Thanks. Much needed assurance.
  • #42,936
  • Sep 6, 2018 12:23am Sep 6, 2018 12:23am
Quoting evocpr19
{quote} Yes. When you look your reference leg, we never broke below the previous up move (so it is only a retest). However, PA on your reference leg shows a clear advantage for the bears, so your entry makes sense (in particular R:R), but then price retraced for a downmove very deep and in the middle portion (small leg before your entry), bears were not acting. The second round up even beyond your entry price should never have happened with such a ref. leg. Hence, when entering that trade I would be much more aggressive with trailing (but I am still...
Thanks for your feedback Evo. I understand what you are saying. Very helpful.

I didn't consider it to be a retest for the reasons mentioned on the chart.

I am still in the state of mind of trading the expectation without concerning too much about the strengths and weaknesses. This is the difficult part. By answers from people like you, I learn more and more.
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  • #42,937
  • Edited 2:16am Sep 6, 2018 12:27am | Edited 2:16am
Quoting Prock
{quote} Hi Bruin, Do you mind me asking why you didn’t move your SL to a BE? One of Damian’s rules is to move your SL to BE when price has hit structure. Price hit structure like a brick wall. You could have at least saved some pain with a BE if you chose not to trail.
Hi Prock. Thanks for replying.

I was gonna move my S/L to B/E when price would enter the lower box. Are there reasons (besides what Evo said) to handle this differently? Why would you move to S/L earlier? How do you build your case to decide when to do that?
  • #42,938
  • Sep 6, 2018 6:40am Sep 6, 2018 6:40am
Quoting Bruin813
{quote} Hi Prock. Thanks for replying. I was gonna move my S/L to B/E when price would enter the lower box. Are there reasons (besides what Evo said) to handle this differently? Why would you move to S/L earlier? How do you build your case to decide when to do that?
Hi Bruin,

1) It is still an uptrend (as per my rules) as previous low was not taken out.
2) As price made a deep correction and exceeded past the 78.6 retracement, need to be careful that there is more strength to the upside.
3) To protect your capital, like evo said trail SL at previous HL or move SL to BE when price make 61.8% retracement (or whatever works for your strategy).
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  • #42,939
  • Sep 6, 2018 6:55am Sep 6, 2018 6:55am
Entered trade slighhtly late [rules are made to be broken =(]....SL moved to BE for risk free trade and will be trailing SL
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  • #42,940
  • Sep 6, 2018 6:58am Sep 6, 2018 6:58am
Quoting liemo
Entered trade slighhtly late [rules are made to be broken =(]....SL moved to BE for risk free trade and will be trailing SL {image}
SL taken out for +10pips
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