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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

  • #43,701
  • Oct 23, 2018 8:25am Oct 23, 2018 8:25am
Hello Traders,
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Time is an illusion, timing is an art.
  • #43,702
  • Oct 23, 2018 9:13am Oct 23, 2018 9:13am
Here is a birds eye view of the market.

On the YM you can see that it has breached a somewhat large demand zone.
On the ES you can see that the Fibs are at play.
On the NQ you can see that structure is at play.
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Luck has no place in trading. Leave that for the poker table.
  • #43,703
  • Oct 23, 2018 9:21am Oct 23, 2018 9:21am
Quoting Pair-me-up
Here is a birds eye view of the market. On the YM you can see that it has breached a somewhat large demand zone. On the ES you can see that the Fibs are at play. On the NQ you can see that structure is at play. {image} {image} {image}
Do you mind me asking what made you put your SL in those specific places.
  • #43,704
  • Oct 23, 2018 9:37am Oct 23, 2018 9:37am
+10 +18 +19
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  • #43,705
  • Oct 23, 2018 9:45am Oct 23, 2018 9:45am
Quoting JayTrader
{quote} Yes, Pair me up talks about it in some of his posts and I think he has mentioned that Mr. pip has talked about it in his videos ,about aligning yourself and trading with the higher TF's, I look at the 610 and 1597 for direction and execute trades on 233 down to the 89 dependent on the pace of the market. And another important thing that can not be rushed is just screen time, daily staring at price, and i also review the week of trading on the weekend by going back and visually looking at how i can refine and improve on myself and my interpretation...
Thank Jay.Yes i agree screen time is more important.rather than rush to take a trade.
  • #43,706
  • Oct 23, 2018 9:52am Oct 23, 2018 9:52am
Quoting Prock
{quote} Do you mind me asking what made you put your SL in those specific places.
My stop loss on the YM is above structure and in a good area of supply.
I forgot to put a stop loss on the ES
My stop loss on the NQ is just above structure and in a good area of supply.

In addition to this, the chart shows that last week the bears came down to some of the demand areas with lots of selling strength.

I also, know that the bond market is larger than the stock indexes. Furthermore, the bond market has tons of institutional trading a.k.a the big boys. And because of the feds increasing the interest rates, the yields on the bonds will increase and the big boys will start dumping stocks as we very clear from what we can see from the bears. This started just over a week ago.

Also, the bond market in Italy along with their stock market is being crushed. Therefore, a lot of money will start to move into the U.S. fixed income market for safety.

Along with that.. the U.S. has the midterm elections coming up. Depending on who wins, can change some of the economic factors.

Taking the technicals on my chart and and the fundamentals, I decided to try practicing a swing / position trade. Not to far away on my charts there is a very strong demand zone. I posted some numbers in those areas earlier tonight. However, in the end.. it is all an if/when scenario. And I did think that the bears would have some very strong dominance this week, based on what I could see and know.
I hope that answers your question Prock.
Luck has no place in trading. Leave that for the poker table.
  • #43,707
  • Oct 23, 2018 9:56am Oct 23, 2018 9:56am
Quoting Pair-me-up
{quote} My stop loss on the YM is above structure and in a good area of supply. I forgot to put a stop loss on the ES My stop loss on the NQ is just above structure and in a good area of supply. In addition to this, the chart shows that last week the bears came down to some of the demand areas with lots of selling strength. I also, know that the bond market is larger than the stock indexes. Furthermore, the bond market has tons of institutional trading a.k.a the big boys. And because of the feds increasing the interest rates, the yields on the bonds...
Yes was wondering of the last chart which I believe is NQ. Thank you for the answer.
  • #43,708
  • Oct 23, 2018 9:59am Oct 23, 2018 9:59am
Anyone have any ideas about this one. I still haven't memorized on my harmonic numbers for the patterns yet. That will be my next goal in the next week or so.

If it is a bat pattern then it will be a continuation pattern to the downside.
Comments welcome.
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Luck has no place in trading. Leave that for the poker table.
  • #43,709
  • Oct 23, 2018 10:02am Oct 23, 2018 10:02am
It was a beautiful setup until [someone/news] decided to ruin it but atleast the fib 61.8 has been respected
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  • #43,710
  • Oct 23, 2018 11:01am Oct 23, 2018 11:01am
Quoting Pair-me-up
{quote} 1. My charts show the exact number that I entered my trade. 2. The reason I am short is because this is a bear market in my view. A lot of the recent market action is fundamentals. Fundamentals move the market with very strong moves. When there are not FA then the TA is stronger. If you can see how to use them together at sometimes then that is good. 3. Mr. Pip teaches the TA much better than me. Just look at all the golden nuggets of info that he has used as answers to help me learn every time I had a question for him. He is a very knowledgeable...

Regarding the entry I was curious about the timing of the entry.
I read through the following posts which cleared up some of the confusion I had. Thanks for the reply.

Good luck with your trading as well! You seem to be on the right track.
  • #43,711
  • Oct 23, 2018 11:31am Oct 23, 2018 11:31am
Hi, I went out by not much on a rescue mission, Do you guys think it was a good time to deploy a rescue mission?
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Time is an illusion, timing is an art.
  • #43,712
  • Oct 23, 2018 11:42am Oct 23, 2018 11:42am
Quoting Pair-me-up
Anyone have any ideas about this one. I still haven't memorized on my harmonic numbers for the patterns yet. That will be my next goal in the next week or so. If it is a bat pattern then it will be a continuation pattern to the downside. Comments welcome. {image}
The price didn't retrace to the 88.6 retracement of the main swing with the CD leg so it's not a valid bat pattern in my opinion.
  • #43,713
  • Oct 23, 2018 11:47am Oct 23, 2018 11:47am
Quoting JeanValJean.
Hi, I went out by not much on a rescue mission, Do you guys think it was a good time to deploy a rescue mission? {image}
To me this looks like you just got unlucky with price retracing just below the last swing and hitting your SL.

I think Damian calls it a rescue mission when he sees price rotate at the 100% retracement of the main swing, then adds more contracts, then starts trailing on decision candles as soon as price closes above the BE point. From what I've seen he doesn't put the SL right below/above the main swing and gives price a bit more room to not get taken out the way it happened to you.
  • #43,714
  • Oct 23, 2018 11:47am Oct 23, 2018 11:47am
Hi all.

Total: +76 points.

Welcome to any comments.
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  • #43,715
  • Oct 23, 2018 11:51am Oct 23, 2018 11:51am
+221 Short YM. Almost got stopped but I thought that I almost missed the trade too. Entered as price was coming down on 2nd indecision candle. Risky - Yes. As soon as the bears took over, I trailed my stop but gave enough room to breathe. (typically my issue because my focus in trading is risk aversion rather than pure profits)
This trade did complete the move exactly to the projection which also coincided with 127.2% projection.
After that - done for the day. Just watched the screen and took demo trades for practice.
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Chance favors the prepared mind.
  • #43,716
  • Oct 23, 2018 11:58am Oct 23, 2018 11:58am
What a crazy day on YM. I got to the charts later than planned my 13 year old pup is currently having surgery.

+312

My first buy was due to a failed NSL and it making a NSH on the IOF and price action was telling me the bulls were going to come in plus was expecting a deep correction of that very large short wing that we had this AM. Price corrected to the 78 fib of the short swing. I could see bears were starting to come in and price was stalling so closed my trade. I thought about shorting but with the IOF break down wasn't positive if it would continue making the move up.

Since price corrected a bit too deep for my liking (of large down swing) I wanted to see how it reacted at the bottom structure (would bulls come in, etc) When price moved down I started to look for areas of structure and of course PA. Bulls started coming in once hitting that low structure so I took the buy.

It was a large SL day.

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  • #43,717
  • Oct 23, 2018 12:33pm Oct 23, 2018 12:33pm
Lets see where the market takes us.
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"Luck is when opportunity meets preparation"
  • #43,718
  • Oct 23, 2018 12:54pm Oct 23, 2018 12:54pm
Quoting Bogdanlinee
Hi all. Total: +76 points. Welcome to any comments. {image}
why you havent taken trades between those 2 postions?
  • #43,719
  • Oct 23, 2018 3:15pm Oct 23, 2018 3:15pm
Longer Term Trade. YM Short. Already moved stop down after small amount of follow through.
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Chance favors the prepared mind.
  • #43,720
  • Oct 24, 2018 5:26am Oct 24, 2018 5:26am
+17
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