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Ratios & Harmonics: a Different Way to Trade

  • #49,821
  • Feb 3, 2021 10:01am Feb 3, 2021 10:01am
Quoting Matts Micro
{quote} Sell {image}
Added sell. It's been a day for adding positions which isn't good, it means I am missing the mark on my entries. In retrospect concerning this trade, I could have seen it. The momentum is lacking on the down drive as is indicated by the highlighted rectangle.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #49,822
  • Feb 3, 2021 11:59am Feb 3, 2021 11:59am
Quoting Matts Micro
{quote} Added sell. It's been a day for adding positions which isn't good, it means I am missing the mark on my entries. In retrospect concerning this trade, I could have seen it. The momentum is lacking on the down drive as is indicated by the highlighted rectangle. {image}
PA still at top. I am looking to close this trade before eod. If PA stays at top of price range I know the broker will spring spread above today's highs @eod knocking out my SL which imo is rather criminal but it's what we deal with.
As the lights go by so too do the shadows move
  • #49,823
  • Feb 3, 2021 12:47pm Feb 3, 2021 12:47pm
Quoting Matts Micro
{quote} Added sell. It's been a day for adding positions which isn't good, it means I am missing the mark on my entries. In retrospect concerning this trade, I could have seen it. The momentum is lacking on the down drive as is indicated by the highlighted rectangle. {image}
SL -20 pips. Expensive trade but still on top for day.
As the lights go by so too do the shadows move
  • #49,824
  • Feb 4, 2021 12:22am Feb 4, 2021 12:22am
Quoting Matts Micro
Looking for one last trade for the day at the bottom AOI. Edit: It's now too late in day to open trade. {image}
2 days later but finally entered this trade. I did't enter on the first rotation as it was just a few minutes before market open and didn't want to get spiked out (as it did). My entry is a little illegitimate for a true rotation candle but I gave a little leeway due to importance of the level (1.2000).

I will only try to buy once and after follow true order flow (currently OF says to go down). There is strong harmonics and confluence for the buyers to come in here.

(Missed my entry by a little due speed of market)

Edit: Gave a couple of extra pips SL to give some breathing room.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #49,825
  • Feb 4, 2021 12:26am Feb 4, 2021 12:26am
I wont post all my trades today as I don't want to be the only poster seen when anybody comes here to check out what the thread is doing.

Today I am concentrating on momentum and to find better trades on their corrections (less risk). I have marked in the momentum levels of the last couple of swings as can be seen by the blue box (previous chart).
As the lights go by so too do the shadows move
  • #49,826
  • Feb 4, 2021 12:45am Feb 4, 2021 12:45am
Quoting Matts Micro
{quote} 2 days later but finally entered this trade. I did't enter on the first rotation as it was just a few minutes before market open and didn't want to get spiked out (as it did). My entry is a little illegitimate for a true rotation candle but I gave a little leeway due to importance of the level (1.2000). I will only try to buy once and after follow true order flow (currently OF says to go down). There is strong harmonics and confluence for the buyers to come in here. (Missed my entry by a little due speed of market) Edit: Gave a couple...
Eg (bold of quote)
ABCD
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 170.png Size: 39 KB
As the lights go by so too do the shadows move
  • #49,827
  • Feb 4, 2021 12:52am Feb 4, 2021 12:52am
Quoting Matts Micro
{quote} 2 days later but finally entered this trade. I did't enter on the first rotation as it was just a few minutes before market open and didn't want to get spiked out (as it did). My entry is a little illegitimate for a true rotation candle but I gave a little leeway due to importance of the level (1.2000). I will only try to buy once and after follow true order flow (currently OF says to go down). There is strong harmonics and confluence for the buyers to come in here. (Missed my entry by a little due speed of market) Edit: Gave a couple of...
SL -16 pips. Don't like being at this level, sometimes the market doesn't make sense at round numbers as traders jump in.
As the lights go by so too do the shadows move
  • #49,828
  • Feb 4, 2021 1:08am Feb 4, 2021 1:08am
Trading the ABCD, tight stop.
(currently going against me)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 171.png Size: 39 KB
As the lights go by so too do the shadows move
  • #49,829
  • Feb 4, 2021 1:19am Feb 4, 2021 1:19am
Quoting Matts Micro
Trading the ABCD, tight stop. (currently going against me) {image}
SL -3 pips. Yah not liking this level. Will sideline for a while.
As the lights go by so too do the shadows move
  • #49,830
  • Edited 2:26am Feb 4, 2021 2:11am | Edited 2:26am
Just thought I'd post this trade for interest.

I am currently long on the complex correction. Price didn't reach my area of interest and price dropped. Now I am looking for a 1:1 AB=CD move back up to the AOI where I can enter shorts.

The trade looks a bit rough at the moment and might fail but it is a low risk trade and worth it if it works.

Edit: The buy vertical line is in wrong place, should be on same candle as where 2nd aqua TL starts.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #49,831
  • Feb 4, 2021 2:46am Feb 4, 2021 2:46am
Quoting Matts Micro
Just thought I'd post this trade for interest. I am currently long on the complex correction. Price didn't reach my area of interest and price dropped. Now I am looking for a 1:1 AB=CD move back up to the AOI where I can enter shorts. The trade looks a bit rough at the moment and might fail but it is a low risk trade and worth it if it works. Edit: The buy vertical line is in wrong place, should be on same candle as where 2nd aqua TL starts. {image}
So the buy basically was a re-test of the low. I was 1:1 and trailed aggressively when it was reached. I saw the rotation coming in with strength so sold aggressively and am now short.

9 pip TS (risk was 3 pips).
Short. (SL at top of a non confirmed swing but at structure, not the whole swing)
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #49,832
  • Feb 4, 2021 3:28am Feb 4, 2021 3:28am
Quoting Matts Micro
{quote} So the buy basically was a re-test of the low. I was 1:1 and trailed aggressively when it was reached. I saw the rotation coming in with strength so sold aggressively and am now short. 9 pip TS (risk was 3 pips). Short. (SL at top of a non confirmed swing but at structure, not the whole swing) {image}
BE+ on short. I may look to re-enter on higher price.
As the lights go by so too do the shadows move
  • #49,833
  • Feb 4, 2021 1:15pm Feb 4, 2021 1:15pm
I had a losing day today which is fine. It's probably why I didn't post as much, not because I didn't want to share losing trades but because I was busy trying to narrow in on where I was going wrong. The losses weren't significant and easily made up in one days trading.

The trend and swings looked consistent for the sellers but some how I had a string of bad trades. I think it had something to do with the day starting at a big number (1.2000). From there the market lost it's harmonics a bit. I couldn't put together the 1:1's and the momentum of the market seemed to me "off".

At the end of the day I have to recognise I had a bit of confusion of where the market was. I have felt it before, almost every time I have had a string of bad trades. This is where I need to write this into my plan and hit myself with it (like Mr Pip does) when I get itchy fingers and trade, regardless of the confusion.

Anyhow that's my beat up on myself done and tomorrow is a new day.
As the lights go by so too do the shadows move
  • #49,834
  • Feb 4, 2021 1:32pm Feb 4, 2021 1:32pm
It can happen to everyone. Keep posting so we have opportunity to learn! Keep going!
  • #49,835
  • Feb 4, 2021 6:00pm Feb 4, 2021 6:00pm
Quoting Matts Micro
I had a losing day today which is fine. It's probably why I didn't post as much, not because I didn't want to share losing trades but because I was busy trying to narrow in on where I was going wrong. The losses weren't significant and easily made up in one days trading. The trend and swings looked consistent for the sellers but some how I had a string of bad trades. I think it had something to do with the day starting at a big number (1.2000). From there the market lost it's harmonics a bit. I couldn't put together the 1:1's and the momentum of...
Good post Matts Micro. As far as harmonics.. Harmonics is just a way to measure the market based on structure being calculated mathematically. Structure will always be stronger than any harmonics by itself. Also, price doesn't stop in a random place but always at a specific point. Here is a trade I took recently to show my point. I used a limit order to enter. This was not based on harmonics, but on actual price action. Yes, I am aware of the role of harmonics. They have their role when useful.
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Luck has no place in trading. Leave that for the poker table.
  • #49,836
  • Feb 5, 2021 12:07am Feb 5, 2021 12:07am
Just finished my pre-market analysis. Its currently 8 min. to market open with a nice setup in progress.

This is what Mr Pip would refer to as a SoS 3 (Strength of Market). SoS 1 is purely a Fibonacci level correction, SoS 2 is also fib and PA hits an area of structure and SoS 3 is both the previous and a complex correction. A complex correction are the blue TL's on the chart where PA of the immediate OF moves within the main swing (white TL).

Entered while writing this. Going against me atm but it is also very close to a butterfly which means it could break the HH before coming back down.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #49,837
  • Feb 5, 2021 12:22am Feb 5, 2021 12:22am
Quoting Matts Micro
Just finished my pre-market analysis. Its currently 8 min. to market open with a nice setup in progress. This is what Mr Pip would refer to as a SoS 3 (Strength of Market). SoS 1 is purely a Fibonacci level correction, SoS 2 is also fib and PA hits an area of structure and SoS 3 is both the previous and a complex correction. A complex correction are the blue TL's on the chart where PA of the immediate OF moves within the main swing (white TL). Entered while writing this. Going against me atm but it is also very close to a butterfly which means it...
Took a SL -13 pips. I wasn't willing to give this any more room though I still expect a further LL. Next trade.
As the lights go by so too do the shadows move
  • #49,838
  • Feb 5, 2021 12:30am Feb 5, 2021 12:30am
Re-entered short. It's a little against my rules but PA hit an important level of resistance (structure) and now the waiting orders from market open are done there may be some reaction from the sellers.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #49,839
  • Feb 5, 2021 12:40am Feb 5, 2021 12:40am
Quoting Matts Micro
Re-entered short. It's a little against my rules but PA hit an important level of resistance (structure) and now the waiting orders from market open are done there may be some reaction from the sellers. {image}
So this is the right OF I am trading. My SL is in a vulnerable place (that is is my risk tolerance for this trade) and the momentum isn't reassuring. There is however quite heavy structure between me and the PA so will see.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 179.png Size: 56 KB
As the lights go by so too do the shadows move
  • #49,840
  • Feb 5, 2021 3:46am Feb 5, 2021 3:46am
Quoting Matts Micro
{quote} So this is the right OF I am trading. My SL is in a vulnerable place (that is is my risk tolerance for this trade) and the momentum isn't reassuring. There is however quite heavy structure between me and the PA so will see. {image}
Out @BE was just a few pips away from TS. Next trade.
As the lights go by so too do the shadows move
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