Ratios & Harmonics: a Different Way to Trade | Page 29 | 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

  • #561
  • Jan 3, 2013 9:06pm Jan 3, 2013 9:06pm
Quoting Mr. Pip
No Ezzy, nothing has changed I only introduced the aggressive C buy/sell option. What you'd see there is for a trader that asked for some more examples of main and dominant swings.
Hi Mr Pip and thank you for your explanation. I will have a look at that chart again to familiarize myself further with main / dominant swings.

In terms of using the aggressive C option buy/sell, excuse my ignorance/limited knowledge, but I cant stop thinking that it is a much more dangerous trade than opening a trade once D and the pattern is recognized. I was wondering if there was any further criteria that we may need in order to take an aggressive trade from C.

Thank you kindly
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #562
  • Jan 3, 2013 9:09pm Jan 3, 2013 9:09pm
Quoting max pain
Hi Mr.PiP,
That was an awesome video... thanks for the time you take out for us...

Found this on the 1M chart, though I prefer trading higher time frames... jst to trying to figure if I have got it correct.

Attachment
Confirmation! Still would like to know if I did it right as per the rules
Attached Image (click to enlarge)
Click to Enlarge Name: entry1.gif Size: 19 KB
.
  • #563
  • Jan 3, 2013 9:10pm Jan 3, 2013 9:10pm
Quoting Ed777
Hi Mr Pip

My 233 tick on Ninjatrader with MBTrading seems very slow compared to your chart. My 89 tick chart seems much closer to the 233 chart you posted. Not sure why

Any thoughts on why? Thanks, Ed
Maybe it's the feed goes through MB Trading and they use their pricing or transactions. Tick charts will vary between brokers as it counts transaction but highs and lows should be the same.
If you fail to plan, you plan to fail.
  • #564
  • Jan 3, 2013 9:13pm Jan 3, 2013 9:13pm
Quoting foxybunny
See if this Short works for A/U on M15 for a ABC-Short.
It has retraced to the 61.8% and 78.6% zone, and enter only pass the 50%.

Only thing is that tonight a few Red USD News, and that the bounce away from the zone was not that clean on M15.

<Edit> Follow Up Note: This Short did not work out as price went back to point-A.


Attachment

Attachment

My last edit above showed that my original ABC pattern was invalidated as the price went up to point-A.

My original SL was around point-A, and it would have been hit if I did not move this SL higher.

However, I also mentioned above post that "the bounce away from the zone was not that clean on M15", this was my only hint that price may have another up leg before the real direction of Down may happen.

So as I was watching A/U, price went up to point-A, that was a Double-Top that was previous day's High, and price seem to be rejected cleaner here, as it went above previous day's High, and then the next bar fall below previous day's High.
A good rejection.
Now I have another Short entry, shown by Red Down Arrows.

And SL was already moved higher to the Red Horizontal line above point-A.

As Mr. Pip mentioned, pain do increased but really it is only pain in anticipation and not real pain, especially when you moved SL.

After moving SL nearer 127%, bed time, and this morning seem the quick down move possibly initiated by FOMC Meeting.
And Shorts automatically exited when targets were hit for profit with the 2 Red Ticks.

Attached Image (click to enlarge)
Click to Enlarge Name: 2013-01-03_ABCD_AUDUSD_M15_1Short_Exit.png Size: 47 KB
  • #565
  • Jan 3, 2013 9:17pm Jan 3, 2013 9:17pm
Thanks for your time to do a video. It should help us all!
I do have 2 questions: When C is surpassed doesn't that change C? When price exceeds A isn't pattern invalid?
Barry
  • #566
  • Jan 3, 2013 9:20pm Jan 3, 2013 9:20pm
Quoting max pain
Confirmation! Still would like to know if I did it right as per the rules
It is not an ABCD it is an AB=CD buy your PRZ is correct It is traded with the same rules asthe ABCD and you would have had a breakeven trade.
If you fail to plan, you plan to fail.
  • #567
  • Jan 3, 2013 9:23pm Jan 3, 2013 9:23pm
Quoting foxybunny
Mr. Pip, really terrific clear explanations and video.

Much appreciated for your time taken in doing the video.

Understand fully what you saying in taking an entry in the 61.8% to 78.6% zone gives better Reward to Risk.
This is probably a Secret, in getting a better Reward to Risk.
Other posters, it is better that you follow or learn from Mr. Pip's ideas from the video.

Usual Reasons for me in not taking entry at the zone:
- Either did not see as price progressing to that zone at that time.
- Not at computer during that time.
- Sometimes price...
I like the way you lay things out! Well thought out and organized the makings of a great trader if you are not one already. Looking forward to your posts!
If you fail to plan, you plan to fail.
  • #568
  • Jan 3, 2013 9:25pm Jan 3, 2013 9:25pm
Quoting Ezzy
Hi Mr Pip and thank you for your explanation. I will have a look at that chart again to familiarize myself further with main / dominant swings.

In terms of using the aggressive C option buy/sell, excuse my ignorance/limited knowledge, but I cant stop thinking that it is a much more dangerous trade than opening a trade once D and the pattern is recognized. I was wondering if there was any further criteria that we may need in order to take an aggressive trade from C.

Thank you kindly
Ezzy
I will post clear rules tomorrow. have them at the office.
If you fail to plan, you plan to fail.
  • #569
  • Jan 3, 2013 9:26pm Jan 3, 2013 9:26pm
Quoting Mr. Pip
It is not an ABCD it is an AB=CD buy your PRZ is correct It is traded with the same rules asthe ABCD and you would have had a breakeven trade.
Thanks for the insight, I actually took a short trade at C and locked profit at 8 pips, price moved to 9 pips then upwards. Got stopped out with +8 pips. Looking forward to your trading session videos, thanks once again for your valuable time.
.
  • #570
  • Jan 3, 2013 9:28pm Jan 3, 2013 9:28pm
Quoting foxybunny
My last edit above showed that my original ABC pattern was invalidated as the price went up to point-A.

My original SL was around point-A, and it would have been hit if I did not move this SL higher.

However, I also mentioned above post that "the bounce away from the zone was not that clean on M15", this was my only hint that price may have another up leg before the real direction of Down may happen.

So as I was watching A/U, price went up to point-A, that was a Double-Top that was previous day's High, and price seem to be rejected...
Well done solid trading!!!!
If you fail to plan, you plan to fail.
  • #571
  • Jan 3, 2013 9:37pm Jan 3, 2013 9:37pm
Quoting Bary
Thanks for your time to do a video. It should help us all!
I do have 2 questions: When C is surpassed doesn't that change C? When price exceeds A isn't pattern invalid?
Hey Barry,

Once price closed above point C the pattern was invalid and you are no longer trading the pattern but if you took the aggressive sell at C you got stuck riding it out. We used harmonics to guide us and and take profit. We had a good understanding how high price could go and how low price could go as well. Harmonics led the way.
If you fail to plan, you plan to fail.
  • #572
  • Jan 3, 2013 9:52pm Jan 3, 2013 9:52pm
Have I identified a valid Bullish Bat pattern on the 1M EU chart? I think this qualifies, any feedback appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: eu 1m bat 4.1.13.jpg Size: 118 KB
  • #573
  • Jan 4, 2013 3:56am Jan 4, 2013 3:56am
I would like to give me a great opportunity to learn from Mr. Pip and to say thank you for all this !
Now I want to show you if that trade is valid for entry. Butterfly on AUD/YEN, B point is perfect at 78.6%. C point in the range of 386.-886. at 78.6,
PRZ ZONE at = AX =1.618 ext. BC= 2.38-2.168 ext. Take a looK right now it look good for putting to breakeven at 38.6 retracement of AD leg.
Attached Image (click to enlarge)
Click to Enlarge Name: aud yen - butterfly perfect xa 1.618.gif Size: 29 KB
  • #574
  • Jan 4, 2013 4:15am Jan 4, 2013 4:15am
Quoting Mr. Pip
I will post clear rules tomorrow. have them at the office.
Thank you Mr pip
What you do is a reflection of you....what I do is a reflection of me.
  • #575
  • Jan 4, 2013 5:41am Jan 4, 2013 5:41am
Just a big thankyou to Mr Pip for his time and patience in describing his method. I truly appreciate those that give knowledge.

Also on a small note, a thankyou to Luisprinc for the live demonstration of that AJ trade. I took it for a quick 20pips.

What we possibly need is to focus just on one type of trade, whether it be ABCD, Gartley, Bat. The market has enough time frames and different markets to trade, and it has been proven that one successful method is all you need
Thankyou all all those who post and keep this thread alive and free from negative comments
  • #576
  • Jan 4, 2013 6:06am Jan 4, 2013 6:06am
Tnx for the videos. Well made and informative.
Thoughts are things
  • #577
  • Jan 4, 2013 6:36am Jan 4, 2013 6:36am
Quoting ozziedave
Have I identified a valid Bullish Bat pattern on the 1M EU chart? I think this qualifies, any feedback appreciated.
Yes nice job C came within the 61% by 1 pip. On a 1M chart I would consider that good. Well done!
If you fail to plan, you plan to fail.
  • #578
  • Jan 4, 2013 6:43am Jan 4, 2013 6:43am
Quoting LuisPrinc
I would like to give me a great opportunity to learn from Mr. Pip and to say thank you for all this !
Now I want to show you if that trade is valid for entry. Butterfly on AUD/YEN, B point is perfect at 78.6%. C point in the range of 386.-886. at 78.6,
PRZ ZONE at = AX =1.618 ext. BC= 2.38-2.168 ext. Take a looK right now it look good for putting to breakeven at 38.6 retracement of AD leg.
From a generic stand point yes but it is not per the rules I use.
If you fail to plan, you plan to fail.
  • #579
  • Jan 4, 2013 6:54am Jan 4, 2013 6:54am
Quoting brownturtle
Just a big thankyou to Mr Pip for his time and patience in describing his method. I truly appreciate those that give knowledge.

Also on a small note, a thankyou to Luisprinc for the live demonstration of that AJ trade. I took it for a quick 20pips.

What we possibly need is to focus just on one type of trade, whether it be ABCD, Gartley, Bat. The market has enough time frames and different markets to trade, and it has been proven that one successful method is all you need
Thankyou all all those who post and keep this thread alive and free from...
Hello Brownturtle,

Thank you for your comment. This thread is a home for new and skilled traders that trade harmonics. I believe everyone including myself can learn from other traders and that is what my thread is about. It would be unfair to those that are at a compitant level with harmonics not to post other patterns for advice or collaboration.

If you are at a level where this is the first experience with harmonics then only focus on whats been covered. It is also important in my mind that you at least get a look at some of the more advance topics that get presented here because at some point you will get there and will have already had some limited exposure which will make it easier for you to absorb the information. Hope this makes sence.
If you fail to plan, you plan to fail.
  • #580
  • Edited 8:05am Jan 4, 2013 7:54am | Edited 8:05am
Thank you Mr. Pip !
And what are those rules to trade this perfect butterfly pattern ? maybe Iam rushing sorry I will wait till we come to this pattern :=)
7 traders viewing now