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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

  • #761
  • Jan 7, 2013 7:29am Jan 7, 2013 7:29am
Quoting Mr. Pip
I failed to mention that the ROE I attached are set for the 1H timeframe you have to look at your chosen timeframe and look at what the tendencies are refer to my previous post which talks about this. The chart you asked about was a 1M chart surely 10 pips below the 161 is extreme. You may want to look at 2 pips below the 161 to start and see if this works well. Less than 1:1 do not take the trade.
ah, i suspected. thx!
  • #762
  • Edited 7:56am Jan 7, 2013 7:36am | Edited 7:56am
Ready trade C to D in BAMM Schema
( "C "in h4 = "d" in m15/m30 )

B point of current pattern ...sometimes will provide R or S for next movement

always fasten the seatbelt

Quoting iqyu5an
waiting for long setup. start seeing bullish crab/butterfy ( in m15/30 ) around fridays's low or a bit above. at the moment just bullish bat

only jump after double bottom confirmed


( current chart not attached )

http://www.forexfactory.com/attachme...3&d=1357356602

http://www.forexfactory.com/attachme...0&d=1357436277
not euphoria follower
  • #763
  • Jan 7, 2013 8:05am Jan 7, 2013 8:05am
Mr. Pip, been watching reading. Now start practice what you showed us.

I am truly amazed. Just now took 1:2 eu abcd on 1 min chart...


Target 161.8 reached to the pipet...


Thanks a lot. Permanent student of yours.
  • #764
  • Jan 7, 2013 8:09am Jan 7, 2013 8:09am
Quoting well0143
not quite sure if I'm picking up what your putting down on that one But i think you mean as in why did i decide to not take into account the next high low swing which i think was and AB = CD pattern I disregarded this because i was focusing on the next movements i felt that identifying the pattern that had already happened was not needed, Actually now looking at it i didn't really need to go back that far in high and low swing; not sure i tried to identify what i think your talking about with two yellow circles below thank you for your tolerance...
I asked this because disregarding the swings caused you to force a pattern where the is none. The disregarded swing are part of a Gartley pattern which completed. Prominant swings like those should always be investigated.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPJPY (15 Min) 1_7_2013.jpg Size: 125 KB
If you fail to plan, you plan to fail.
  • #765
  • Jan 7, 2013 8:12am Jan 7, 2013 8:12am
Good morning Mr.PIP
I think you should be pleased that many of us are attempting to draw the patterns even though that these attempts could be wrong.I think just trying is showing interest and that is progress.

I am looking forward to your VIDEO
Sometime in the future perhaps you could break down your thought process step by step like how do you go around take a trade.You mentioned few times order flow.How you determine order flow? Thank you
In trading, you have to be defensive and aggressive at the same time
  • #766
  • Jan 7, 2013 8:13am Jan 7, 2013 8:13am
Quoting Rexz
http://content.screencast.com/users/...01-07_0900.png

*EDIT*

Please ignore the BE comment on the image. I forgot its the A->D swing that you use for the 38.2% BE. I am currently in this trade as price has hit this level and am now in BE.
Great job target 2 was also hit for around 30 pips tell us how you did.
If you fail to plan, you plan to fail.
  • #767
  • Jan 7, 2013 8:22am Jan 7, 2013 8:22am
Mr. Pip, This setup is valid butterfly?

Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 31 KB
  • #768
  • Jan 7, 2013 8:24am Jan 7, 2013 8:24am
Quoting Ezzy
Here is another attempt at recognizing patterns, particularly legs (XAB etc).

Bullish Bat?

Comments are welcome.
Yes good job there is a smaller pattern which might push price higher but should not invalidate the Bat.
If you fail to plan, you plan to fail.
  • #769
  • Jan 7, 2013 8:26am Jan 7, 2013 8:26am
Quoting iqyu5an
short ?? look at the ratio dude.. it's just 1.272... butterfly gives good result in 1.61 .. just imho
.
Quoting fiovit
Mr. Pip, This setup is valid butterfly?

Attachment
not euphoria follower
  • #770
  • Jan 7, 2013 8:29am Jan 7, 2013 8:29am
Quoting liemo
I got it now , to sum it up the completion of the harmonic swing occurs when the dominant line retraces 38.2% of the main line. Just to clarify, you have 2 targets the first one @ 38.2% swing of AD, when PA reaches this level you move SL to breakeven and let PA ride to 618% AD ?

someone mentioned earlier in this thread a book written by Larry Pesavento : Trade What you See : How to Profit from Pattern Recognition. Just a heads up, he developed the butterfly pattern along with Bryce Gilmore. I have read his book as well as Scott Carneys book...
You got it. Yeah I have to check out that book.
If you fail to plan, you plan to fail.
  • #771
  • Jan 7, 2013 8:33am Jan 7, 2013 8:33am
Quoting omonla
Mr pip i must commend you for the great job you are doing here.before now when i hear of harmony trade,i just feel it is another jargon.but now it all makes a little sense to me now.here is a AUD/USD H4 chat.i am in already waiting for the trade to get to D.sorry i don'y really know how to illustrate on the chat liike you do but i am already plus 40.Thanks againAttachment
Good job. See how your indicators did not help you enter the trade where the entry was per the aggressive C buy?
If you fail to plan, you plan to fail.
  • #772
  • Jan 7, 2013 8:42am Jan 7, 2013 8:42am
Quoting zola320
Mr. Pip I got two questions:

1. Do you use correlation?

Example:
We found a bearish pattern on EURUSD and we found a bullish pattern on USDCHF. Now that we know that this pairs have a negative correlation. Does this makes the patterns more accurate.

2. Is there a limit of how much spread you are willing to pay for a pair or as long as the RR ratio is good you dont care about the spread.


Thank you!
No I don't care about correlation. This is a topic I never really understood. If you are looking to trade one pair and you have a setup that you follow then why look to a correlating pair? What's the point? If you tell me to trade both pairs then I would say that is even worse because if you are wrong on one you will be wrong on both and you have double exposure. If you tell me for confirmation then I would say trust you signal if you have done the proper testing and take that signal every time you confirm it on a chart.


Spead is only a factor on the lower timeframes stick to the majors on the lower timeframes.
If you fail to plan, you plan to fail.
  • #773
  • Jan 7, 2013 8:46am Jan 7, 2013 8:46am
30min Eur
Could become AB=CD bc over 618 but under 786
Once again not assuming anything.Just trying.Green box my possible target 3100
Attached Image (click to enlarge)
Click to Enlarge Name: eu gartley.gif Size: 23 KB
In trading, you have to be defensive and aggressive at the same time
  • #774
  • Jan 7, 2013 8:48am Jan 7, 2013 8:48am
Quoting snail69
Mr. Pip, been watching reading. Now start practice what you showed us.

I am truly amazed. Just now took 1:2 eu abcd on 1 min chart...


Target 161.8 reached to the pipet...


Thanks a lot. Permanent student of yours.
Excellent post your chart so others can see your trade and thanks!
If you fail to plan, you plan to fail.
  • #775
  • Jan 7, 2013 8:55am Jan 7, 2013 8:55am
Quoting Davit
Good morning Mr.PIP
I think you should be pleased that many of us are attempting to draw the patterns even though that these attempts could be wrong.I think just trying is showing interest and that is progress.

I am looking forward to your VIDEO
Sometime in the future perhaps you could break down your thought process step by step like how do you go around take a trade.You mentioned few times order flow.How you determine order flow? Thank you
Hey Davit always a pleasure to see charts posted and yes I see progress and helps me identify what I may need to work on. This is why I respond to every question. Getting the pattern wrong is not the issue this will correct itself as time progresses and we see more examples.

What is an issue is trading the patterns without the rules or notknowing the patterns yet. That is really my only concern. I do not want traders over exposed on material we have not covered and are not comfortable with yet.

Yes I will be providing a step by step video very soon as a matter of fact. This will help correct some of the mistakes I've been seeing. Sometime this week.
If you fail to plan, you plan to fail.
  • #776
  • Jan 7, 2013 8:59am Jan 7, 2013 8:59am
Quoting fiovit
Mr. Pip, This setup is valid butterfly?

Attachment

No your C is too deep.
If you fail to plan, you plan to fail.
  • #777
  • Jan 7, 2013 9:03am Jan 7, 2013 9:03am
sorry, here where I should take the profit?

Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 32 KB
  • #778
  • Jan 7, 2013 9:05am Jan 7, 2013 9:05am
Quoting Davit
30min Eur
Could become AB=CD bc over 618 but under 786
Once again not assuming anything.Just trying.Green box my possible target 3100
Watch order flow and can you tell me what pattern you are over looking which goes against your premise? Your premise is not invalide and it is a possibility but so is something else in tune with orderflow.

Hey Davit you are correct I was looking at the wrong chart on my end. That is a good PRZ for a Gartley
If you fail to plan, you plan to fail.
  • #779
  • Jan 7, 2013 9:08am Jan 7, 2013 9:08am
Quoting Mr. Pip
No your C is too deep.
I'm sorry if I posted another chart, I have now seen the answer, but there should be a margin of error to identify points, too accurate we will never find the setup.
  • #780
  • Jan 7, 2013 9:09am Jan 7, 2013 9:09am
http://www.trade-forex-harmonic-patt...fly-pic500.jpg

ratio range for C in butterfly : 0.382-0.882 of AB . the point is no lower low or higher high ( A not broken ). no matter how deep C as long as A not broken

imho

Quoting Mr. Pip
No your C is too deep.
not euphoria follower
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