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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

  • #921
  • Jan 9, 2013 7:43am Jan 9, 2013 7:43am
Quoting CockyAmoeba
Greetings Mr. Pip

Thank you for your time and comments on my last post! Very very glad that I saw the correct pattern

I was wondering. We currently only use fib ratios of price swings. Do you at all consider fib ratios of time i.e. Fib time extensions to evaluate your patterns?

Thanks.
No I have not. I have never tried to use time extensions.
If you fail to plan, you plan to fail.
  • #922
  • Jan 9, 2013 7:45am Jan 9, 2013 7:45am
Quoting iqyu5an
never jump directly to the market even the ratio say something, always : see our position , relative to the past. check the S/R if any, keep the money management. If not, the ratio will kill us and we just live in the harmonic dream.

all and all, the point in harmanic trading is planning !!!

imho
Well said that's why we alsways seek clusters of confluence.
If you fail to plan, you plan to fail.
  • #923
  • Jan 9, 2013 7:58am Jan 9, 2013 7:58am
Quoting Blackeagle
You are trading against a very strong uptrend in all higher time frames, H4, Daily, Weekly and even Monthly.
It would be safer to take aggressive C trades in trend direction. I'll show you how I trade ABCD pattern in trend direction
in the next post.

Regards,
Blackeagle
Very good point going with order flow will always provide higher probability trades. I will point out that this trend has its days numbered. There is a lot of confluence in this very over bought market caution on both sides of the fence traders.
Attached Image (click to enlarge)
Click to Enlarge Name: $USDJPY (Weekly) Week 43_2008 - Week 2_2013.jpg Size: 97 KB
If you fail to plan, you plan to fail.
  • #924
  • Jan 9, 2013 8:12am Jan 9, 2013 8:12am
ABCD?

Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 27 KB
  • #925
  • Jan 9, 2013 8:15am Jan 9, 2013 8:15am
Quoting well0143
Could anyone shed some light on this area in eclipse why such tight ranges, the AUDUSD seems stuck is there a reason for this economics wise "poking the seasoned traders "

Attachment
Don't read too much into it contraction leads to expantion check prior order flow. Price is telling you what it wants to due, listen to it.
If you fail to plan, you plan to fail.
  • #926
  • Jan 9, 2013 8:17am Jan 9, 2013 8:17am
Quoting Ezzy
First of all, many thanks Mr Pip, I just watched the video and must say that it answers a lot of questions I had all in one video.
Now, time to practice!!!

If you fail to plan, you plan to fail.
  • #927
  • Jan 9, 2013 8:18am Jan 9, 2013 8:18am
Quoting Mr. Pip
Congrats the 61 was hit I hope you took profit that trade gave a possible 87 pips from where you entered let us know how you did.
Thank you but unfortunately I managed to close with "only" 35pips(trailing stop).
I forgot to recalculate the new TP after the D point was completed.
When I open a pending order I put initial TP which I calculate from A to 1.270AB and I put a 0.382 trailing stop (Its because I cant sit all the time in front of my pc).

But Im happy that I identified a valid pattern that is the most important to me.



Thank you Mr.Pip for your interest and advices they help a lot
  • #928
  • Jan 9, 2013 8:22am Jan 9, 2013 8:22am
Quoting Blackeagle
The attached chart is GBPCHF daily. I have marked ABCD and when price is at C, the overall trend or the trend of the time frame I trade is still up. We don't know yet if price will break point B downward. After the break, we can confirm that the trend has changed due to LH-LL sequence. Based on Mr. Pip's rules, we can identify PRZ at point D (the blue rectangle on the chart) pretty accurately by using confluences and then start trading ABCD pattern.

This is how I do it. Take long at D, target 61.8 and exit all. Because the trend is down, now...

Not at all excellent job. I have said before to make these patterns your own and so you have. Well thought out!
If you fail to plan, you plan to fail.
  • #929
  • Jan 9, 2013 8:24am Jan 9, 2013 8:24am
Quoting well0143
Is this correct???

Attachment
You tell me? What do you think you have here and why?
If you fail to plan, you plan to fail.
  • #930
  • Jan 9, 2013 8:44am Jan 9, 2013 8:44am
Quoting Kilian19
I am really good at picking out invalid patterns ...

Is there any valid pattern you can find in the first post? Up to now I have just skimmed over the pattern guide to have more time to looked into main and dominant swings and money management. Point C retraced to far to invalidate any pattern?
I would have taken an aggressive C(B) sell as soon as the 61.8 % and the structure was taken out. BE trade.

2nd chart. Aggressive sell would have been a winner but and after the price spiked through the prz it lost momentum. Would you have taken a long...
When one door shuts another opens keep your eyes opens. The failure lead to a nice aggressive C buy you could have traded and the reversal. Don't give up.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 1_9_2013.jpg Size: 83 KB
If you fail to plan, you plan to fail.
  • #931
  • Jan 9, 2013 8:48am Jan 9, 2013 8:48am
Quoting snail69
Mr. Pip where would be good tp for this abcd trade ?
If you followed the rules stop was moved to BE and no harm to your account. It achieved the 38 target one.
If you fail to plan, you plan to fail.
  • #932
  • Jan 9, 2013 8:55am Jan 9, 2013 8:55am
Quoting Bary
Label your ABCD's because I don't see an ABCD there at all. Also your fibs are draw backwards on that swing.
It's an AB=CD 38%. I assume this is what he saw. I traded the reversal like he did on the 233 Tick for 15 pips
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 1_9_2013.jpg Size: 69 KB
If you fail to plan, you plan to fail.
  • #933
  • Jan 9, 2013 8:57am Jan 9, 2013 8:57am
fortunately still has not hit SL, in this case, where should I take the profit?

Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 27 KB
  • #934
  • Jan 9, 2013 8:57am Jan 9, 2013 8:57am
Quoting Bary
Forgot pic.
If you trade that as AB=CD then your TP is At fib 38 of AD leg you move to BE with TP at 61.8 of AD
Well done
If you fail to plan, you plan to fail.
  • #935
  • Jan 9, 2013 9:01am Jan 9, 2013 9:01am
Quoting fiovit
ABCD?

Attachment
AB=CD only 50% correction.
If you fail to plan, you plan to fail.
  • #936
  • Edited 9:25am Jan 9, 2013 9:04am | Edited 9:25am
Quoting zola320
Thank you but unfortunately I managed to close with "only" 35pips(trailing stop).
I forgot to recalculate the new TP after the D point was completed.
When I open a pending order I put initial TP which I calculate from A to 1.270AB and I put a 0.382 trailing stop (Its because I cant sit all the time in front of my pc).

But Im happy that I identified a valid pattern that is the most important to me.



Thank you Mr.Pip for your interest and advices they help a lot
Well done. Not only did you identify the pattern but you also examined the post mortem. You know how to avoid that in the future.
If you fail to plan, you plan to fail.
  • #937
  • Jan 9, 2013 9:13am Jan 9, 2013 9:13am
GM Mr Pip,
I know we haven't covered gartley rules yet but is this a gartley?
The B and C retraces seam to qualify, but where should D be placed?
Attached Image (click to enlarge)
Click to Enlarge Name: aussie.gif Size: 32 KB
Barry
  • #938
  • Jan 9, 2013 9:16am Jan 9, 2013 9:16am
Quoting fiovit
fortunately still has not hit SL, in this case, where should I take the profit?

Attachment
Manage it just like an ABCD. BE at the 38% of AD profit at the 61. You entered early, what was your thought process?
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (15 Min) 1_9_2013.jpg Size: 85 KB
If you fail to plan, you plan to fail.
  • #939
  • Jan 9, 2013 9:21am Jan 9, 2013 9:21am
Quoting Bary
GM Mr Pip,
I know we haven't covered gartley rules yet but is this a gartley?
The B and C retraces seam to qualify, but where should D be placed?
It is and it's the pattern I was referring to in earlier post. Great job!
If you fail to plan, you plan to fail.
  • #940
  • Jan 9, 2013 9:41am Jan 9, 2013 9:41am
Traders,

Does the Holy Grail exist in trading? What is your idea on this topic which so many traders ferociously seek and very few seem to ever find? I can tell you that I have found my Holy Grail and it's not what you think. I will share it with you but want to hear from some of you first.
If you fail to plan, you plan to fail.
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