Ratios & Harmonics: a Different Way to Trade | Page 14 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #261
  • Dec 30, 2012 9:20am Dec 30, 2012 9:20am
The PRZ of the Gartley we were looking at on a 5 min timeframe to zero in on price and get the best wholesale entry possible. This is my approach to the PRZ and most of these scenarios are typically the same learn to read price and it will tell you what it wants to do. Let me know what needs clarification.

After we get through this we will get into the patterns.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 12_28_2012.jpg Size: 136 KB
If you fail to plan, you plan to fail.
  • #262
  • Dec 30, 2012 9:33am Dec 30, 2012 9:33am
Sir
I watched your videos about Ratios & Harmonics:a Different way to trade.
First of all I thank you for great concept.But I am poor to understand a graphically represented video.
I ask you only 2 questions-please answer
1.whenever a price takes a trend from flat situation either for up-trend or low-trend
how to assess how long it shall go-explain
2.In the above situation when price reversal we can expect

  • #263
  • Dec 30, 2012 9:49am Dec 30, 2012 9:49am
Quoting Mr. Pip
The PRZ of the Gartley we were looking at on a 5 min timeframe to zero in on price and get the best wholesale entry possible. This is my approach to the PRZ and most of these scenarios are typically the same learn to read price and it will tell you what it wants to do. Let me know what needs clarification.

After we get through this we will get into the patterns.
GM Mr Pip and thx for taking part of your sunday to continue our education.
I can see if watching PA live that most traders would have taken the trade when price first entered top of the PRZ and stalled. Is there any good reason not to have taken it there?
Barry
  • #264
  • Dec 30, 2012 10:26am Dec 30, 2012 10:26am
Quoting srinivas666
Sir
I watched your videos about Ratios & Harmonics:a Different way to trade.
First of all I thank you for great concept.But I am poor to understand a graphically represented video.
I ask you only 2 questions-please answer
1.whenever a price takes a trend from flat situation either for up-trend or low-trend
how to assess how long it shall go-explain
2.In the above situation when price reversal we can expect

Well to be completely honest with you this is one of the mostchallenging things to master. The topic is also outside of what we arediscussing here but the answer to your question is also harmonics.

Use the swings and ratios to guide you towards thatreversal. Harmonics expectations with ratios and structure confluence are yourbest bet much like we do to identify the PRZ at the end of a pattern.

Look at the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (60 Min) 12_28_2012 trend.jpg Size: 84 KB
If you fail to plan, you plan to fail.
  • #265
  • Dec 30, 2012 10:42am Dec 30, 2012 10:42am
Quoting Bary
GM Mr Pip and thx for taking part of your sunday to continue our education.
I can see if watching PA live that most traders would have taken the trade when price first entered top of the PRZ and stalled. Is there any good reason not to have taken it there?
GM Bary,

Great question, taking the trade anywhere in the PRZ offers a great wholesale priced entry as you can see in the chart I provided taking the trade when the pattern completed was good enough. The reason for me to take a different approach is that I always try to find the best possible price. As you become more familiar with the PRZ and skills shartpen you will start to see where in your PRZ price is likely to test and the best area to zero in further in the PRZ that was the oval I drew. Also my price action experience told me that perhaps price was not done moving lower and the other areas of confluence were probably going to be tested. This was evident by the slowing down of price into the PRZ at the pattern complettion but also not strong commitment to buy at that level just yet and the ABCD of the Gartley pattern had not yet completed. In my process of building the case price was hinting what it could still push a bit lower.

This type of fine tuning will come with time. Antwhere in the PRZ offers a great entry we were within the low by 14 pips how's that for accuracy and the stop is never within the PRZ but we will get to that. Does this make sense?

My entry was only 4 pips better no big deal in this case.
If you fail to plan, you plan to fail.
  • #266
  • Dec 30, 2012 10:51am Dec 30, 2012 10:51am
Quoting Mr. Pip
GM Bary,

Great question, taking the trade anywhere in the PRZ offers a great wholesale priced entry as you can see in the chart I provided taking the trade when the pattern completed was good enough. The reason for me to take a different approach is that I always try to find the best possible price. As you become more familiar with the PRZ and skills shartpen you will start to see where in your PRZ price is likely to test and the best area to zero in further in the PRZ that was the oval I drew. Also my price action experience told me that perhaps...
The way you present the material and answer questions makes it very clear to me, It helps immensely. I know learning new things always takes time and practice. I look forward to more...
Thx again.
Barry
  • #267
  • Dec 30, 2012 12:03pm Dec 30, 2012 12:03pm
Quoting Mr. Pip
Your patterns and ratios are not correct. Any ABCD would terminate higher look at my chart there is structure but not much more.
Thanks a lot for the explanation, Mr. Pip.

Like I said, I'm still rather new to patterns and ratios so I'm not surprised I massacred the chart.
  • #268
  • Dec 30, 2012 12:14pm Dec 30, 2012 12:14pm
Quoting sho
Thanks a lot for the explanation, Mr. Pip.

Like I said, I'm still rather new to patterns and ratios so I'm not surprised I massacred the chart.
Practice and post I'm here to help
If you fail to plan, you plan to fail.
  • #269
  • Dec 30, 2012 1:04pm Dec 30, 2012 1:04pm
Quoting Mr. Pip
Practice and post I'm here to help
Sounds good!

Guys, let's take a look at the Aussie-dollar 1-hour timeframe for the sake of practicing what Mr. Pip has taught us so far.

Is the attached assumption on the current main swing/dominant swing correct?

Really appreciate everyone's comments and analysis...
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 51 KB
  • #270
  • Dec 30, 2012 1:04pm Dec 30, 2012 1:04pm
mr pip, what PA we have to look for in PRZ which in this case makes us think that price will go further down ? how do we assess that at what is the best price to enter when price enter PRZ ?

Should we also wait for candle to close within PRZ or just its high or low piercing the PRZ ?

thanks.

Quoting Mr. Pip
The PRZ of the Gartley we were looking at on a 5 min timeframe to zero in on price and get the best wholesale entry possible. This is my approach to the PRZ and most of these scenarios are typically the same learn to read price and it will tell you what it wants to do. Let me know what needs clarification.

After we get through this we will get into the patterns.
  • #271
  • Dec 30, 2012 1:19pm Dec 30, 2012 1:19pm
Mr.Pip,

Great thread, Thanks for starting it up ! This is one of my strategy, I used it before but for whatever reason I m using it very less now. I had a mixed results using this one. Now again you brought this to my notice & I will try to accommodate it again in my trading. So lets start with some charts. Here is my USDCAD on daily TF where I see potential bullish bat pattern developing. Price is now at point C & infact I am watching price action to take aggressive C trade as there is confluence of falling TL & structure. Although I believe point C is not yet completed, it will mark little move high, but I m watching it closely. The D will complete @ 0.9685 where FE 161.8, Fib ratio 88.6 & stucture falls in confluence. So please post your views on this, criticism is equally welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 93 KB
  • #272
  • Edited 2:13pm Dec 30, 2012 1:19pm | Edited 2:13pm
Quoting sho
Sounds good!

Guys, let's take a look at the Aussie-dollar 1-hour timeframe for the sake of practicing what Mr. Pip has taught us so far.

Is the attached assumption on the current main swing/dominant swing correct?

Really appreciate everyone's comments and analysis...
Yes. That is what I have also. Now to continue we have a retrace of the dominate swing to almost to the 61.8. then my projection for D if price reaches this area. We also have structure, magenta line for confluence.

Also as a reminder to all: we are not predicting where price will go, we're identifying a zone that if price makes it to that zone there's a high probabilty that it will reverse there.
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 24 KB
Barry
  • #273
  • Dec 30, 2012 3:12pm Dec 30, 2012 3:12pm
Quoting sho
Sounds good!

Guys, let's take a look at the Aussie-dollar 1-hour timeframe for the sake of practicing what Mr. Pip has taught us so far.

Is the attached assumption on the current main swing/dominant swing correct?

Really appreciate everyone's comments and analysis...
I can't see the top of the main swing but it looks good. Now you need to see at least a 38% correction of the main swing
If you fail to plan, you plan to fail.
  • #274
  • Dec 30, 2012 3:18pm Dec 30, 2012 3:18pm
Quoting alij79
mr pip, what PA we have to look for in PRZ which in this case makes us think that price will go further down ? how do we assess that at what is the best price to enter when price enter PRZ ?

Should we also wait for candle to close within PRZ or just its high or low piercing the PRZ ?

thanks.
At the pattern completion point there was some rejection to the high side and the low side and strength was with the bears
If you fail to plan, you plan to fail.
  • #275
  • Dec 30, 2012 4:51pm Dec 30, 2012 4:51pm
Hello traders I will be gone for the next couple of days going to spend New Years at the magic kingdom. I wish all of you a very happy and prosperous new year to come. Wishing all a harmonic trading experience. I will not be responding to the thread but I will be back on the first to catch up answer questions and start discussing the patterns. God bless!
If you fail to plan, you plan to fail.
  • #276
  • Dec 30, 2012 4:56pm Dec 30, 2012 4:56pm
Quoting alex4xes
Mr.Pip,

Great thread, Thanks for starting it up ! This is one of my strategy, I used it before but for whatever reason I m using it very less now. I had a mixed results using this one. Now again you brought this to my notice & I will try to accommodate it again in my trading. So lets start with some charts. Here is my USDCAD on daily TF where I see potential bullish bat pattern developing. Price is now at point C & infact I am watching price action to take aggressive C trade as there is confluence of falling TL & structure. Although I believe point...

Hi Mr Pip

If you have a chance to look at alex4 chart and compare to mine. I have placed ABC etc in different places to alex, I was wondering if you could comment and correct me if I have gone about it the wrong way.

Just having a practice. Thanks
What you do is a reflection of you....what I do is a reflection of me.
  • #277
  • Dec 30, 2012 4:58pm Dec 30, 2012 4:58pm
Quoting Ezzy
Hi Mr Pip

If you have a chance to look at alex4 chart and compare to mine. I have placed ABC etc in different places to alex, I was wondering if you could comment and correct me if I have gone about it the wrong way.

Just having a practice. Thanks

Ooops, here is the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 18 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #278
  • Dec 30, 2012 5:03pm Dec 30, 2012 5:03pm
Quoting Mr. Pip
I can't see the top of the main swing but it looks good. Now you need to see at least a 38% correction of the main swing
Here's a much larger picture showing the top of the main swing.

Hope you have a great time at Magic Kingdom!
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 52 KB
  • #279
  • Dec 30, 2012 5:06pm Dec 30, 2012 5:06pm
Quoting Bary
Yes. That is what I have also. Now to continue we have a retrace of the dominate swing to almost to the 61.8. then my projection for D if price reaches this area. We also have structure, magenta line for confluence.

Also as a reminder to all: we are not predicting where price will go, we're identifying a zone that if price makes it to that zone there's a high probabilty that it will reverse there.
Thank you for the analysis, Bary. This method is becoming much more clearer.
  • #280
  • Dec 30, 2012 5:24pm Dec 30, 2012 5:24pm
Hello everyone...

Mr. Pip, seems like I should have this on repeat, but thanks again for everything you have posted! It truly is feeling like an awakening to me. If I ever make it big trading, remind me to put you in my will... Or at least buy you a drink!

I've taken some time to put what I consider to be the most instructive posts you have put out so far, in a word file (as I hate having to go though an entire thread over and over again to re-read 1 or 2 post). Anyways, I've attached it here in case others think the same way. If I've overstepped here, please let me know, and I'll remove it, or you can remove it... Won't hurt my feelings a bit.

Anyways, thanks again!
Attached File(s)
File Type: doc Harmonics Post by Mr. Pip.doc   6.4 MB | 2,278 downloads
10 traders viewing now