Ratios & Harmonics: a Different Way to Trade

Quoting Blackeagle

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I have read all the posts with great interest and have a couple of questions for you regarding the above post of yours. The price closed within the dark pink cube at the end of the hour and there is still possibility that the pattern may be either Gartley or Crab. Now a new bar is forming and at what point of the new bar you discard Gartley possibility while watching the price in real time? How frequent a crab pattern is invalidated (that means you have been stopped out if a trade is executed according to the crab pattern) and turns into a possible...

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Quoting max pain

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I may be wrong about this, but in that post Mr.Pip already identified the point C and hence Gartley pattern was confirmed with price piercing Green Zone. In the next post the point D was established thus completing one pattern.. a Bullish Bat on 1H.
Price action after that hasnt been much to establish another pattern...

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Quoting Blackeagle

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You are wrong because what I'm asking is about before point C has been identified, I mean you are at the close of the bar before the C and you don't see the bar labeled as C (not formed yet) and you don't know yet if 61.8% will be pierced. Thanks for the reply anyway.

Regards,
Blackeagle

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Quoting max pain

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Aha I see what you are getting at. I based my analysis on the fact that the 6th candle (after point B) itself pierces 61.8 while 2 bars previous to that we see a reject from almost the same level.

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Quoting ozziedave

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You have identified two types of swings, mail and dominant. I'm a little confused about the definition of a dominant swing. Is it each swings within the main swing, like the red lines or is it the one down swing, purple swing, within the main swing.

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Quoting iqyu5an

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there is always bull and bear ....

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Quoting Bren0001

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Good Morning Mr. Pip,

In post 168 you stated that "We had a 138 Fib extension lining up with structure." What exactly do you mean by structure? Is structure a reversal in the direction of price? Could you show a couple of examples of structure on 1 chart? Thank-you sir, I appreciate your help.

Bren

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Quoting Blackeagle

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I have read all the posts with great interest and have a couple of questions for you regarding the above post of yours. The price closed within the dark pink cube at the end of the hour and there is still possibility that the pattern may be either Gartley or Crab. Now a new bar is forming and at what point of the new bar you discard Gartley possibility while watching the price in real time? How frequent a crab pattern is invalidated (that means you have been stopped out if a trade is executed according to the crab pattern) and turns into a possible...

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Quoting max pain

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I may be wrong about this, but in that post Mr.Pip already identified the point C and hence Gartley pattern was confirmed with price piercing Green Zone. In the next post the point D was established thus completing one pattern.. a Bullish Bat on 1H.
Price action after that hasnt been much to establish another pattern...

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Quoting Blackeagle

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You are wrong because what I'm asking is about before point C has been identified, I mean you are at the close of the bar before the C and you don't see the bar labeled as C (not formed yet) and you don't know yet if price will close above 61.8%. Thanks for the reply anyway.

Regards,
Blackeagle

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Quoting Mr. Pip

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I believe you meant to say discard the crab. This depends on whatever rules you decide to use in your trade plan. For me once the 61.8 Fib is violated in any way discards the crab even in real time.

The crab is my least favorite and most difficult to trade. We will get to that when we get to the patterns. It is almost an unreasonable expectation for price to complete a crab. It happens but somewhat rare.

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Quoting alij79

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Mr Pip, i am not clear on what invalidates the pattern, it will be easier for everyone to understand if you can put possibilities of factors that would make the pattern invalidate ..... like you give example of gartley pattern formation and using same chart can you tell us what factors can invalidate this pattern.....

at the moment i am very confused on how pattern is invalidated and what details we have to look into during any pattern formation....particularly in real time...

pls will appreciate if you can explain by writing in bulleted points...

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Quoting Blackeagle

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Thanks for the reply. No, I meant to say discard the gartley and trade based on crab formation. Actually my question was somewhat regarding your entries like at what point in real time you decide that the pattern is complete and execute the trade. Do you wait for the close of the candle? But since you haven't explained the entries and trade management, I will wait until those are covered.

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Quoting Blackeagle

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Yes, but Mr. Pip looks for a close above a certain fib level. Therefore Crab or Gartley options are still valid after the 6th candle. My question is about when we are at the close of 13th candle after point B (for the ones who couldn't follow, I'm talking about the chart at post #165).

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Quoting alij79

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Mr pip one more question:

in post#165 you wrote "We can now extend the Fibonacci retracement line from the high and low of the dominant swing." As per my understanding we will draw fibonacci line from high of dominant swing i.e. A to low of dominant swing i.e. B , is that correct ?

in post#167 you wrote " D is by the rules of engagement and area of confluence between the anchor leg XA of 78.6 and a 127 extention of AB." you did not explain how to draw 127 extension of fibonacci in metatrader 4, will appreciate if you can tell how to do that...

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