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Ratios & Harmonics: a Different Way to Trade

A trade I am watching for next week (Yellow TL's).

It will be a cautious trade as the setup isn't 100%. Without the hit of the grey 61.8 Fib (bluebox) it may continue to the downside; that and the order flow is to the downside. I will be looking for a good deep entry signal which means my risk will be low. I may even be looking at a long trade below the current low as the weekly has strong support and possibly quite a bit of supply.
Attached Images (click to enlarge)
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As the lights go by so too do the shadows move
Quoting Matts Micro
A trade I am watching for next week (Yellow TL's). It will be a cautious trade as the setup isn't 100%. Without the hit of the grey 61.8 Fib (bluebox) it may continue to the downside; that and the order flow is to the downside. I will be looking for a good deep entry signal which means my risk will be low. I may even be looking at a long trade below the current low as the weekly has strong support and possibly quite a bit of supply. {image} {image}

Matts , below were my analysis.

1 hour chart last trend/swing = 1.08530 - 1.07200
Daily chart last trend/swing = 1.15140 - 1.06320

the yellow line you drawing were daily trend line for me but they are also corrective trend only.

both 1hour and daily chart is expecting a NSL for the chart.

note also that the swing on daily has a NSH and NSL continuous , so the market are abit confusing for now and the NSL for the daily swing might not occur.

buying at the low of weekly resistance is not a expectation play , unless a NSH occur on the 1hour chart about that area.

need to be clear which swing you want to trade. and reading of the swing strong or weak is important on deciding to enter or not. thus no comment yet which price or area is good to buy or sell etc until the price occur.

just my analyse of the EURUSD.
Quoting 6288monkey
{quote} Matts , below were my analysis. 1 hour chart last trend/swing = 1.08530 - 1.07200 Daily chart last trend/swing = 1.15140 - 1.06320 the yellow line you drawing were daily trend line for me but they are also corrective trend only. both 1hour and daily chart is expecting a NSL for the chart. note also that the swing on daily has a NSH and NSL continuous , so the market are abit confusing for now and the NSL for the daily swing might not occur. buying at the low of weekly resistance is not a expectation play , unless a NSH occur on the 1hour...
What you say is a good read. I am breaking a few rules with my assessment and I am just looking at the pattern. It is an uncertain time for sure which means much volatility. The momentum is for new lows but to break weekly lows would be no mean feat. Going a little off thread soz because any other time frame I wouldn't hesitate to follow order flow. I will be following order flow probably hrly or 30min to make my entry and if I can find it I will trade it. On the other side of the trade if we break below there should be some excellent trading opportunities approaching.

My heart goes out to all those affected by the current environment. Keep safe,
Matt.
As the lights go by so too do the shadows move
Quoting bmdenton23
Breakeven so far {image} {image}
Hi,

I've been around in the thread for a few weeks now and covered all the main lessons up to the money management video.
I have noticed that I really struggle with Complex corrections and reading the price action from them/ how it affects my expectations.

I see you online regularly and thought you would be able to maybe help me out.

Thanks
Lucan
Quoting LucanF
{quote} Hi, I've been around in the thread for a few weeks now and covered all the main lessons up to the money management video. I have noticed that I really struggle with Complex corrections and reading the price action from them/ how it affects my expectations. I see you online regularly and thought you would be able to maybe help me out. Thanks Lucan
I'll do my best to answer any questions you have LucanF. There are plenty of traders around here who know this material very well and can help.
I'll just post some example charts from Friday to get us started.

The key points on the charts are:

#1 Complex/immediate order flow IOF, does not impact your expectancy if you're trading the main swing. What it does do is help you to identify an area of interest to trade the main swing.

#2 Sometimes main swings become too large and never retrace, it happens daily. You can requalify your main swing using IOF.
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Quoting bmdenton23
{quote} I'll do my best to answer any questions you have LucanF. There are plenty of traders around here who know this material very well and can help. I'll just post some example charts from Friday to get us started. The key points on the charts are: #1 Complex/immediate order flow IOF, does not impact your expectancy if you're trading the main swing. What it does do is help you to identify an area of interest to trade the main swing. #2 Sometimes main swings become too large and never retrace, it happens daily. You can requalify your main swing...

Hi, thanks for the reply!

the charts and explanations were really clear! They made things clear for me. I’ll go ahead and practice, practice and practice until I can read these complex correction properly.

The main problem I had is I would enter too early and see price go against me to hit my SL. Which would leave me thinking my system/rules were completely wrong lol.

thanks!
If I were to be trading on the 5min Chart, like the image I've attached, Would I have to trade the blue swings or the yellow swings?

I tend to trade the yellow swings because they take less time to generate and I can have a rather 'quick' trade.

I find myself failing a lot of times in trades but don't know what causes this.
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Quoting LucanF
If I were to be trading on the 5min Chart, like the image I've attached, Would I have to trade the blue swings or the yellow swings? I tend to trade the yellow swings because they take less time to generate and I can have a rather 'quick' trade. I find myself failing a lot of times in trades but don't know what causes this. {image}
You should trade whichever order flow (blue/yellow) you have the risk tolerance and time to trade.

I'll give you a couple of charts, first how I would've marked up the longer term swings on the EU M5.
The second chart is zoomed in taking a look at your more immediate order flow. My preference if I were trading the yellow order flow would be to have a more granular chart so 1 minute or tick chart.
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Quoting bmdenton23
{quote} You should trade whichever order flow (blue/yellow) you have the risk tolerance and time to trade. I'll give you a couple of charts, first how I would've marked up the longer term swings on the EU M5. The second chart is zoomed in taking a look at your more immediate order flow. My preference if I were trading the yellow order flow would be to have a more granular chart so 1 minute or tick chart. {image} {image}
You're right mate! That made things a clear.
I'm gonna try some trading on the 3 min chart / 1 min chart depending on the price action I see.
Any ideas how I can use a tick chart without ninjatrader? It doesn't work with my demo account from Oanda..
Quoting LucanF
{quote} You're right mate! That made things a clear. I'm gonna try some trading on the 3 min chart / 1 min chart depending on the price action I see. Any ideas how I can use a tick chart without ninjatrader? It doesn't work with my demo account from Oanda..
Hi LucanF. I have Tick charts for MT4 (attached). Save to Data folder in the indicators directory.
Attach Log.exe 1st. (1 min chart) wait a couple of minutes then attach Post.exe to same chart, in the settings Post.exe adjust how many ticks you want it to use 89T 144T etc. Go to File on MT4 and open Offline, find the tick chart and open. You will have to use another chart to trade from.


I would mention the source but I have forgotten where I got them. Thanks if you see this post.
Attached Files
File Type: ex4 LogTickData.ex4   10 KB | 41 downloads
File Type: ex4 PostTickData.ex4   8 KB | 43 downloads
As the lights go by so too do the shadows move
Quoting Matts Micro
{quote} Hi LucanF. I have Tick charts for MT4 (attached). Save to Data folder in the indicators directory. Attach Log.exe 1st. (1 min chart) wait a couple of minutes then attach Post.exe to same chart, in the settings Post.exe adjust how many ticks you want it to use 89T 144T etc. Go to File on MT4 and open Offline, find the tick chart and open. You will have to use another chart to trade from. I would mention the source but I have forgotten where I got them. Thanks if you see this post. {file} {file}
Hi Matts,

Thanks for your help!
I'll try to install it and let you know if I have any problems!

Thanks
Lucan
Quoting Matts Micro
{quote} Hi LucanF. I have Tick charts for MT4 (attached). Save to Data folder in the indicators directory. Attach Log.exe 1st. (1 min chart) wait a couple of minutes then attach Post.exe to same chart, in the settings Post.exe adjust how many ticks you want it to use 89T 144T etc. Go to File on MT4 and open Offline, find the tick chart and open. You will have to use another chart to trade from. I would mention the source but I have forgotten where I got them. Thanks if you see this post. {file} {file}
Hey mate,

I installed the tick chart like you said. But the tick chart doesn't generate any new bars/data. It only shows the bars that I generated before I opened the offline chart. I know it's an offline chart but is there no way to use the tickchart for live data?
Quoting LucanF
{quote} Hey mate, I installed the tick chart like you said. But the tick chart doesn't generate any new bars/data. It only shows the bars that I generated before I opened the offline chart. I know it's an offline chart but is there no way to use the tickchart for live data?
Hey Lucan, I have had this problem before too, I thinks its a glitch. The charts will run live when working properly. I'm not entirely sure how I have fixed in the past except with just by fiddling with it.

Some things to try:
Make sure all boxes are ticked in the common tab of the both indicators just to be sure.
Delete the offline chart and open a new one.
Exit and restart the platform.
Delete both the indicator chart and offline chart and start again.
and anything other common fixes you may think of.

Like I said it has happened to me before a few times but normally all good. PM me if still no good and I will see if can't get to bottom of.
As the lights go by so too do the shadows move
1 to 1 short 30min timeframe ( micro account ) ( i still demo trader )
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Quoting 6288monkey
1 to 1 short 30min timeframe ( micro account ) ( i still demo trader ) {image}
Very nice trade!

I find myself struggling getting the 1:1 a lot of times!
Quoting LucanF
{quote} Hey mate, I installed the tick chart like you said. But the tick chart doesn't generate any new bars/data. It only shows the bars that I generated before I opened the offline chart. I know it's an offline chart but is there no way to use the tickchart for live data?
Hey LucanF,
Thought I'd post a pic of the tick chart to show it does work (normally) and to show my set up. The 2 indicators on one chart and an opened offline running live. Hope you got it sorted out, these things can get a bit fiddly to start with.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
Quoting Matts Micro
{quote} Hey LucanF, Thought I'd post a pic of the tick chart to show it does work (normally) and to show my set up. The 2 indicators on one chart and an opened offline running live. Hope you got it sorted out, these things can get a bit fiddly to start with. {image}
I will try some stuff later on and let you know how things are.

How long do you let the 2 indicators running for before you open the 'offline' chart?
Quoting LucanF
{quote} I will try some stuff later on and let you know how things are. How long do you let the 2 indicators running for before you open the 'offline' chart?
Not long a minute or 2 to be safe. Just need to screw around for a bit it can be a bit temperamental.

I'm off until tomorrow (Aus). Let me know how it goes, I have the metaquotes files which are the same but may make a difference in copying if all else fails.
As the lights go by so too do the shadows move
Quoting Matts Micro
{quote} Not long a minute or 2 to be safe. Just need to screw around for a bit it can be a bit temperamental. I'm off until tomorrow (Aus). Let me know how it goes, I have the metaquotes files which are the same but may make a difference in copying if all else fails.
I think I got it working, it's kinda slow tho for 33 ticks.

But thanks a lot!!
I am looking for a AB=CD entry (blue TL's) for a continuation of the LT trend. I will likely be looking for an entry on the 30 min PA permitting. My analysis from last week still holds and will be looking an entry in my AOI.
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As the lights go by so too do the shadows move
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