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Ratios & Harmonics: a Different Way to Trade

  • #1,201
  • Jan 11, 2013 3:08pm Jan 11, 2013 3:08pm
Hi Mr.Pip is there any timeline for next harmonic pattern that you will introduce officially. Following the forum I get across different patterns being mentioned which I can deduce what is going on but prefer to get the official version from you.
  • #1,202
  • Jan 11, 2013 3:22pm Jan 11, 2013 3:22pm
Mr Pip, thanks for your vids and all the info you provide here, good things will come to you for helping all of us traders.......I do have a question though, and it may be hidden in this thread, which has almost gone viral...I mean the posts just keep coming.....anyway my question is when you have a retrace, extension or whatever and lets say its between the 50 and 61.8, otherwise it has gone past the 50 but not hit the 61 level.....how do you label that? I know its not going to hit the levels exactly but just curious how you handle this......thanks in advance.
  • #1,203
  • Jan 11, 2013 3:29pm Jan 11, 2013 3:29pm
Quoting mduke04
Looks valid to me. Entering a popular PRZ zone.

USDCHF 4H
Thanks Mduke, appreciate your input.
  • #1,204
  • Jan 11, 2013 5:18pm Jan 11, 2013 5:18pm
Hello,

I have watched for the second time your last video and have two questions on the GBP/JPY5min:

1) Omiting the price range that occured after your video (in pink box) we would expect two different PRZ (in yellow box), either the price goes up -> ABCD Pattern -> short at the PRZ, or it would have gone down to the lowest PRZ (Gartley Pattern) -> long at the PRZ. Am I clear with that ?

2) The price range that occured after your video (in pink box) is it a strong warning sign that could invalidate our pattern ?

Enjoy your week-end !
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 131 KB
  • #1,205
  • Jan 11, 2013 7:05pm Jan 11, 2013 7:05pm
Quoting Mr. Pip
No price closed above the 50 at B
Got it, thank you.
What you do is a reflection of you....what I do is a reflection of me.
  • #1,206
  • Jan 11, 2013 7:17pm Jan 11, 2013 7:17pm
Quoting kyurem
Hi all,

special thanks to Mr Pip for starting the thread; I didn't know about this interesting way of trading and stacking odds by ratios convergence.
I found a BAT pattern on USD CHF H1, the PRZ has been reached, I guess we have to wait for a good price action trigger to enter.
What do you guys think? is it the right way to process?

rgds,

Kyurem
It's a beauty you have to clean up your ratios to include thehich and lows tails count. The aggressive C gave a possible 154 pips and the entry gave 64 before coming back down for the retest lets see if it keeps climbing. Good eye but clean up your ratios a bit sloppy.
If you fail to plan, you plan to fail.
  • #1,207
  • Jan 11, 2013 7:20pm Jan 11, 2013 7:20pm
Quoting mduke04
EURUSD M5, Aggressive C Buy

Order Flow up as per main swing. Pull back to 38.2, which shows strong uptrend indication.

Entered slightly above 78.6 retrace of AB swing. Target is 127.2 AB expansion.
Be aggressive with your stop 38% BE of swing we had a failure to make a HH. This may be a retestat and a market top. If it is you will be safe and not lose anything.
If you fail to plan, you plan to fail.
  • #1,208
  • Jan 11, 2013 7:22pm Jan 11, 2013 7:22pm
Quoting svezir
Hi Mr.Pip is there any timeline for next harmonic pattern that you will introduce officially. Following the forum I get across different patterns being mentioned which I can deduce what is going on but prefer to get the official version from you.
Monday the Gartley
If you fail to plan, you plan to fail.
  • #1,209
  • Jan 11, 2013 7:28pm Jan 11, 2013 7:28pm
Quoting Korndawg
Mr Pip, thanks for your vids and all the info you provide here, good things will come to you for helping all of us traders.......I do have a question though, and it may be hidden in this thread, which has almost gone viral...I mean the posts just keep coming.....anyway my question is when you have a retrace, extension or whatever and lets say its between the 50 and 61.8, otherwise it has gone past the 50 but not hit the 61 level.....how do you label that? I know its not going to hit the levels exactly but just curious how you handle this......thanks...
Great question. In the process of making these patterns your own you will have to decide what you consider to be acceptable. As you know price will not always come exactly to where we want it and this does not mean we get to guess because we do not do that. But in your trade plan you will have to say that if price comes to within 3-5 pips of the ratio you will accept that as valid. If you are unsure and are torn between two potential patterns, rest easy the next leg will help you confirm which pattern you are looking to qualify. Does this answer your question?
If you fail to plan, you plan to fail.
  • #1,210
  • Jan 11, 2013 7:42pm Jan 11, 2013 7:42pm
[quote=ChanhXanh;6359259]Hello,

I have watched for the second time your last video and have two questions on the GBP/JPY5min:

Quote
1) Omiting the price range that occured after your video (in pink box) we would
expect two different PRZ (in yellow box), either the price goes up -> ABCD
Pattern -> short at the PRZ, or it would have gone down to the lowest PRZ
(Gartley Pattern) -> long at the PRZ. Am I clear with that ?

Yes you are clear on the possibilites.




Quote

2) The price range that occured after your video (in pink box) is it a strong

warning sign that could invalidate our pattern ?



If price closes above the 78.6 the Gartley is invalid If you took the aggressive C short you would have been at BE it went in favor by 21 pips. Price rejected the 50 swing pivot and is wanting to stay above the 38% indicating bullish price action.
If you fail to plan, you plan to fail.
  • #1,211
  • Edited 10:38pm Jan 11, 2013 8:28pm | Edited 10:38pm
start seeing bearish butterfly but ... if we could sell higher ... we could also buy lower .......

why bearish bat failed ? i did not take that bearish BAT . why ? ratio is just rato............always make interpretation of the PA. What CD leg means ? if only ratio..... simple......go for sell but we got to risk that broker will hit TP ( trader will hit SL ) easily.

http://www.forexfactory.com/attachme...5&d=1357886788

http://www.forexfactory.com/attachme...1&d=1357810228
if we're in strong uptrend channel ......stay away from bearish gartley or bat............ much better waiting for butterfly/crab and always see the price action history

harmonic pattern talks about harmony in trading not exact math

oh welll ..... just silly sharing i know...

happy weekend all..



Quoting iqyu5an
based on ratio......totally agree we should see bearish BAT. but personally....... i will stay away from any position. let market calm down first. and see how this rally bull wants. and interpret what that bull candle means. this is how ...


1) just draw manually... the weekly open at least for last 2 or 3 weeks.
2) just draw manually ... the yearly open

see where we are : PA broke it ? stucked ? bounched ? just watch all this in those line....

3) draw trigger line........ this is the most important line in harmonic ( how the PA reacts...
http://www.forexfactory.com/attachme...0&d=1357436277
Attached Image (click to enlarge)
Click to Enlarge Name: bamm eu7.gif Size: 35 KB
not euphoria follower
  • #1,212
  • Jan 11, 2013 11:36pm Jan 11, 2013 11:36pm
GBPJPY 15 M chart shows a possible bullish butterfly pattern. The other pattern we may want to consider is the AB=CD pattern outlined in brown if the butterfly doesn't develop. Either way both patterns signal a continuation to the upside to complete a larger TF gartley pattern.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy 15m possible butterfly 12.1.13.jpg Size: 90 KB
Click to Enlarge Name: gbpjpy daily possible gartley 12.1.13.jpg Size: 152 KB
  • #1,213
  • Jan 12, 2013 2:44am Jan 12, 2013 2:44am
Quoting Mr. Pip
I rather wait till we get to that pattern but since I know there are experienced harmonic traders here I can post my visual quick reference guide which has the ranges per my rules. We will cove each pattern in detail and post rules for each like the ABCD.
The file attached to the post has extension as docx, can someone with word 2010 save the word document extension as .doc and repost. Thanks heaps.
  • #1,214
  • Jan 12, 2013 4:07am Jan 12, 2013 4:07am
Quoting Mr. Pip
It's a beauty you have to clean up your ratios to include thehich and lows tails count. The aggressive C gave a possible 154 pips and the entry gave 64 before coming back down for the retest lets see if it keeps climbing. Good eye but clean up your ratios a bit sloppy.
Hi MrPip

Thanks for your view.
I draw ratio retracement in dashed line, as price doesn't match exactly the levels, the chart doesn't look clean. But in such way, I see how perfect the pattern is. It is also the way scott carney draws patterns. I don'y know if it really matters...

Rgds
  • #1,215
  • Edited Jan 13, 2013 5:30am Jan 12, 2013 6:07am | Edited Jan 13, 2013 5:30am
Mr. Pip, been reviewing trades for last several days and applied what you showed here in AB=CD.

Can say the biggest problem - where to close trade and take what market gives - is solved.

That AB=CD - be it, 100 or 161.8%, just using MT4 available tool - Fibonacci Extension works with a surgical precision.

Thanks again !
Attached Image (click to enlarge)
Click to Enlarge Name: mr pip.jpg Size: 138 KB
  • #1,216
  • Jan 12, 2013 7:21am Jan 12, 2013 7:21am
Quoting iqyu5an
start seeing bearish butterfly but ... if we could sell higher ... we could also buy lower .......

why bearish bat failed ? i did not take that bearish BAT . why ? ratio is just rato............always make interpretation of the PA. What CD leg means ? if only ratio..... simple......go for sell but we got to risk that broker will hit TP ( trader will hit SL ) easily.

http://www.forexfactory.com/attachme...5&d=1357886788

http://www.forexfactory.com/attachme...1&d=1357810228
if...
Let's agree the ratios are just ratios and is the reason to seek out confluence zone adds this as strength to the ratios. The pattern had the confluence I seek and occured in proper form and place. As you can see from the price action around the completion point the market repsected the pattern by an extended period of price consolidation. This was not a case where price blew completely through the PRZ. Sure it's easy now to see the daily closed above the ideal demand zone but that is information that is not available at the time of entry. We also cannot wait for the daily close to take this into account. This pattern was traded off of the H1 at least for me and the facts that I used to take the trade were in accord with the ROE.

These patterns will fail as this one did. They are in the neighborhood of 75-80% accurate. In my experience these patterns work just as well outside of channels as they do inside of them and isn't even a consideration on my part in trade decision. We will dicuss this further begining Monay with the Gartley. We will also dicuss graceful exits which I took on this particular pattern to minimize the loss.
If you fail to plan, you plan to fail.
  • #1,217
  • Jan 12, 2013 7:31am Jan 12, 2013 7:31am
Quoting ozziedave
GBPJPY 15 M chart shows a possible bullish butterfly pattern. The other pattern we may want to consider is the AB=CD pattern outlined in brown if the butterfly doesn't develop. Either way both patterns signal a continuation to the upside to complete a larger TF gartley pattern.
I do not see either of the patterns you discribe but aggree that orderflow is trying to stay bullish and the possibility of the ABCD.
If you fail to plan, you plan to fail.
  • #1,218
  • Jan 12, 2013 7:35am Jan 12, 2013 7:35am
Quoting liemo
The file attached to the post has extension as docx, can someone with word 2010 save the word document extension as .doc and repost. Thanks heaps.

You can download from Microsoft a viewer free for these types offiles but if you can't I will repost them on Monday in yourrequested format. Let me know.
If you fail to plan, you plan to fail.
  • #1,219
  • Jan 12, 2013 7:40am Jan 12, 2013 7:40am
Quoting kyurem
Hi MrPip

Thanks for your view.
I draw ratio retracement in dashed line, as price doesn't match exactly the levels, the chart doesn't look clean. But in such way, I see how perfect the pattern is. It is also the way scott carney draws patterns. I don'y know if it really matters...

Rgds
Always draw the ratios correctly and don't force them to fit look at my chart. This will avoid possible mistakes.
Attached Image (click to enlarge)
Click to Enlarge Name: $USDCHF (60 Min) 1_11_2013.jpg Size: 96 KB
If you fail to plan, you plan to fail.
  • #1,220
  • Jan 12, 2013 7:42am Jan 12, 2013 7:42am
Quoting snail69
Mr. Pip, been reviewing trades for last several days and applied what you showed here in AB=CD.

Can say the biggest problem - where to close trade and take what market gives - is solved.

That AB=CD - be it, 100 or 161.8%, just using MT4 available tool - Fibonacci Extension works with a surgical precision.

Thanks again !
Thats the best part of harmonics the accuracy is amazing.
If you fail to plan, you plan to fail.
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