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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

  • #141
  • Dec 28, 2012 7:17am Dec 28, 2012 7:17am
Quoting alij79
I am referring to post # 43 where you explained dominant swing.

Okay, in the process of these patterns materializing we have dominant swings that eventually become part of the pattern once the leg completes. We will discuss this in more detail today. Refer to the anatomy of the Bat I posted yesterday that will help.
If you fail to plan, you plan to fail.
  • #142
  • Dec 28, 2012 7:24am Dec 28, 2012 7:24am
Quoting NuNix
EU H1 : is it AB=CD and PRZ is @1.3170/78 ?
ABCD completed which completed the Gartley and price has had another immediate response to the PRZ. Can you see the power? No indicators just Harmonics.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012.jpg Size: 96 KB
If you fail to plan, you plan to fail.
  • #143
  • Dec 28, 2012 7:26am Dec 28, 2012 7:26am
Quoting iqyu5an
am In mr. PIP
aniway...
1. what is best time frame for harmonic ?
2. prz is an area which we talk about price level.. what about timing ? personally.. to reduce false level i use bolinger to confirm double top/bottom within PRZ..anyone has another idea for this ?

tq
They will work on anytime frame. It depends what the trader is looking for and how much time they have per day/wk to trade. As Mr. Pip said before if your trading H1 it will take time for the patterns to develop and complete which means less trades. Risk/reward is greater the higher the time frame.
An intraday trader that likes to only watch one pair and get a couple of trades per day will have to look at LTF. You can only look to take what that time frame offers, meaning the swings are smaller so your TP and Sl are smaller. Take a look at any time frame and you will see swings forming these patterns. ABCD's are very common just smaller as you look at LTF
Example of M1 chart. I only drew a couple of possible trade opportunities. I think the more trades the more chance of losers on the LTF's, but risk is lower.
Attached Image (click to enlarge)
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Barry
  • #144
  • Dec 28, 2012 7:32am Dec 28, 2012 7:32am
Quoting ozziedave
The Eur Gartley Pattern worked out well. I'm really looking forward to learning the patterns based on what I've seen so far.
Great to hear if you are long stop goes to breakeven at 1.3210 and profit target is just short of 1.3237 for around 60 pips.
If you fail to plan, you plan to fail.
  • #145
  • Dec 28, 2012 7:39am Dec 28, 2012 7:39am
Quoting Bary
Price made it to PRZ. Now we look for a buy.
I will be looking at M5 and maybe even M1 for price rejection, cndl pattern, or retest of low.

Went long PA on M5 showing me rejection.
Sl below PRZ. TP fib 61.8 of AD leg. move sl to be at fib 38
Excellent work Bary I think I hear myself talking. LOL
If you fail to plan, you plan to fail.
  • #146
  • Dec 28, 2012 7:40am Dec 28, 2012 7:40am
Quoting Rexz
Am I correct in saying that we currently have a bullish Gartley on EU?

EDIT:
http://content.screencast.com/users/...12-28_1132.png
If you fail to plan, you plan to fail.
  • #147
  • Dec 28, 2012 7:42am Dec 28, 2012 7:42am
Quoting alij79
Mr. Pip can you please upload the downloaded version of the harmonics and fibs video you posted on page 1, i am unable to view it like this... will really appreciate.

Anyone can do that , will be great.


regards,
Go to youtube and search DCASTFX you will see it
If you fail to plan, you plan to fail.
  • #148
  • Dec 28, 2012 7:44am Dec 28, 2012 7:44am
Quoting alij79
youtube is not opened in our country, so will appreciate anyone can upload it over here or send me anyother link other then youtube.
I'm sorry I don't know how to do this if anyone can help that would be great.
If you fail to plan, you plan to fail.
  • #149
  • Dec 28, 2012 7:49am Dec 28, 2012 7:49am
Quoting Bary
Because of the strength of the move down to the PRZ and weak bullish price action I'm tightening my SL. I also went in with a small position, it is Fri. you know.
Every time we take a trade we have to accept the risk reward involved. The market needs breathing room. Don't tighten it too much or you will get hurt. This trade is off of the 1H timeframe. Initial stop goes 10 PIPs below X stop moves to BE at the 38% of AD tand target just short of 61% of AD.
We will cover this when we cover trade management.
If you fail to plan, you plan to fail.
  • #150
  • Dec 28, 2012 7:54am Dec 28, 2012 7:54am
Quoting iqyu5an
am In mr. PIP
aniway...
1. what is best time frame for harmonic ?
2. prz is an area which we talk about price level.. what about timing ? personally.. to reduce false level i use bolinger to confirm double top/bottom within PRZ..anyone has another idea for this ?

tq
1. what is best time frame for harmonic ?

Any it depends on you and how much screen time you have.

2. prz is an area which we talk about price level.. what about timing ? personally.. to reduce false level i use bolinger to confirm double top/bottom within PRZ..anyone has another idea for this ?

We will get to the PRZ soon please be patient, no indicators are needed if you wait for indicator confirmation you will mis the trade. Price hates the PRZ and doesn't hang out there long.
If you fail to plan, you plan to fail.
  • #151
  • Dec 28, 2012 7:56am Dec 28, 2012 7:56am
Quoting NuNix
hello bro, welcome to this thread
looks like the best tf for harmonic is H1
They are everywhere and on any timeframe you have to decide what timeframe you want to trade and go get them.
If you fail to plan, you plan to fail.
  • #152
  • Dec 28, 2012 7:59am Dec 28, 2012 7:59am
Quoting Bary
They will work on anytime frame. It depends what the trader is looking for and how much time they have per day/wk to trade. As Mr. Pip said before if your trading H1 it will take time for the patterns to develop and complete which means less trades. Risk/reward is greater the higher the time frame.
An intraday trader that likes to only watch one pair and get a couple of trades per day will have to look at LTF. You can only look to take what that time frame offers, meaning the swings are smaller so your TP and Sl are smaller. Take a look at any time...
Bary is correct it all evens out.
If you fail to plan, you plan to fail.
  • #153
  • Dec 28, 2012 8:12am Dec 28, 2012 8:12am
Stops should be at breakeven as the 38% has been hit and depending on entry around 35 green pips. Congrats risk has been removed. Stress free trading have to love it.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012.jpg Size: 109 KB
If you fail to plan, you plan to fail.
  • #154
  • Dec 28, 2012 8:24am Dec 28, 2012 8:24am
Going to get some Breakfast give me a few when I return I will start to discuss ratios and swings.

Are we seeing the power of harmonics? There is no guessing and no subjectivity. It's clear cut simple rules based trading. Once you grasp this you will be on your way to the 10%. I want everyone to join me here it's a lonely place.
If you fail to plan, you plan to fail.
  • #155
  • Dec 28, 2012 8:50am Dec 28, 2012 8:50am
Hi,
at work studying the harmonic i found this pattern in Eur/Usd h1.
It is correct? The Grey Rectangle is my confluebce area with 3 level.
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: gartley.jpg Size: 78 KB
  • #156
  • Dec 28, 2012 9:17am Dec 28, 2012 9:17am
Target Hit. For those that took the trade congrats, for those that didn't no worries this happens all the time. I'm not trading either I'm done for the year enjoying my time with you all.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012.jpg Size: 110 KB
If you fail to plan, you plan to fail.
  • #157
  • Dec 28, 2012 9:20am Dec 28, 2012 9:20am
Quoting dasio
Hi,
at work studying the harmonic i found this pattern in Eur/Usd h1.
It is correct? The Grey Rectangle is my confluebce area with 3 level.
Thank you
Yes, but I'm a bit lost on your grey rectangle can you give more detail?
If you fail to plan, you plan to fail.
  • #158
  • Dec 28, 2012 9:27am Dec 28, 2012 9:27am
Quoting Mr. Pip
Target Hit. For those that took the trade congrats, for those that didn't no worries this happens all the time. I'm not trading either I'm done for the year enjoying my time with you all.
Good Morning Mr. Pip. I didn't take the trade, but I followed along this morning. On question I had... Do you normally place your target a pip or two under the 61.8 level? On my chart below, it appears my broker didn't hit 61.8 to the pip... Close, but not quite there. Anyways, I'm am rapidly becoming a believer in this. Amazing how much of that move would have been caught! Thanks a ton for what you have taught me so far, and can't wait to learn more!
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 29 KB
  • #159
  • Dec 28, 2012 9:54am Dec 28, 2012 9:54am
Let’s discuss how we apply ratios to swings and begin the process of identifying potential patterns.

We will begin with the Gartley that just completed since it’s fresh in our minds.

I will do this in a few posts step by step so we go not get confused.

The first thing we need to identify is a main swing. This is a swing that is obvious just by looking at it, 100 out of 100 people would have to agree on the high and the low.

Once this is identified we have to know that there is a high likelihood that it will at some point become an anchor leg to an advance pattern. It is important to take a look at previous swings to make sure this swing is not part of a pattern already in formation. This can happen if you have not been following the pair and just opened the chart.

Remember I said that it is not uncommon to see patterns within patterns and back to back patterns this happens a lot we just saw it here; just yesterday we had a bat pattern and now a Gartley. So just take a look and make sure you validate your swing as a potential anchor leg.

In the next post we will measure this with our fib tool.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012 1.jpg Size: 74 KB
If you fail to plan, you plan to fail.
  • #160
  • Dec 28, 2012 9:58am Dec 28, 2012 9:58am
Quoting Nate04
Good Morning Mr. Pip. I didn't take the trade, but I followed along this morning. On question I had... Do you normally place your target a pip or two under the 61.8 level? On my chart below, it appears my broker didn't hit 61.8 to the pip... Close, but not quite there. Anyways, I'm am rapidly becoming a believer in this. Amazing how much of that move would have been caught! Thanks a ton for what you have taught me so far, and can't wait to learn more!
Yes Nate, we cannot always get an exact to the pip to a particular target area a couple of pips below or above will have better outcomes.
If you fail to plan, you plan to fail.
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