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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

  • #1,361
  • Jan 14, 2013 8:03pm Jan 14, 2013 8:03pm
Quoting Davit
just closed all my NZ shorts +40pipsCredit goes to MR.PIP for opening my eyes to C leg trading.
If you fail to plan, you plan to fail.
  • #1,362
  • Jan 14, 2013 8:04pm Jan 14, 2013 8:04pm
Alright Traders,

Lets get them tomorrow same process. Tomorrow I will go into some price action analysis and possible the Gartley lets see how we do on time.
If you fail to plan, you plan to fail.
  • #1,363
  • Jan 14, 2013 8:39pm Jan 14, 2013 8:39pm
I'm looking at hopefully an AB=CD on a CD leg of a potential Bat pattern for some confluence
Attached Image (click to enlarge)
Click to Enlarge Name: $AUDUSD (150 Tick) 15_01_2013.jpg Size: 149 KB
  • #1,364
  • Jan 14, 2013 8:41pm Jan 14, 2013 8:41pm
am looking for this

http://www.forexfactory.com/attachme...5&d=1358148111
Quoting Damien1881
I'm looking at hopefully an AB=CD on a CD leg of a potential Bat pattern for some confluenceAttachment
not euphoria follower
  • #1,365
  • Jan 14, 2013 8:42pm Jan 14, 2013 8:42pm
if i want to execute a trade at the aggressive C,i.e between 61.8 and 78.6,where exactly do i put my stop loss.i guess it's below the 78.6 when buying and above the 78.6 when selling?
  • #1,366
  • Jan 14, 2013 8:43pm Jan 14, 2013 8:43pm
Quoting Damien1881
I'm looking at hopefully an AB=CD on a CD leg of a potential Bat pattern for some confluenceAttachment
Realistic Target however Price seems to rebound or range 54 to 56-57 then down again.
In trading, you have to be defensive and aggressive at the same time
  • #1,367
  • Jan 14, 2013 8:44pm Jan 14, 2013 8:44pm
Very keen on shorting GJ and looking for good opportunity.
Attached Image (click to enlarge)
Click to Enlarge Name: gy.gif Size: 20 KB
In trading, you have to be defensive and aggressive at the same time
  • #1,368
  • Jan 14, 2013 8:51pm Jan 14, 2013 8:51pm
Quoting Damien1881
I'm looking at hopefully an AB=CD on a CD leg of a potential Bat pattern for some confluenceAttachment
To me AU represent complete pattern and from 1.054 PA most likely will go up again.
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 21 KB
In trading, you have to be defensive and aggressive at the same time
  • #1,369
  • Jan 14, 2013 9:10pm Jan 14, 2013 9:10pm
Quoting omonla
if i want to execute a trade at the aggressive C,i.e between 61.8 and 78.6,where exactly do i put my stop loss.i guess it's below the 78.6 when buying and above the 78.6 when selling?
Omonla,
See this post for the attachment that gives Mr. Pip's exact rules for ABCD (I think). (http://www.forexfactory.com/showthread.php?p=6338994#post6338994)

In summary, you are looking for any penetration of the 61.8% (not necessarily a close). Similarly, the move is allowed to penetrate 78.6% but CANNOT close past 78.6%. Therefore, you would be looking to set a stop past 78.6%, but would likely need to wait until the close of the candle to see if it actually remains past that level. I suggest going to the attachment and reading.

Most importantly, I am not trading ABCD's the way Mr. Pip does. I am creating my own set of rules. In doing this I own my rules, I am comfortable with my rules, and I can test and change my rules. There is a night and day difference trading something you created and trading something someone else created. Mechanically it may be similar, but emotionally/psychologically, huge difference. By making it my own, I instill confidence, comfort, and familiarity that will help me press through a series of losing trades.

Good luck!
  • #1,370
  • Jan 14, 2013 9:12pm Jan 14, 2013 9:12pm
Quoting Davit
To me AU represent complete pattern and from 1.054 PA most likely will go up again.
Awesome trade. Curious why your B point is not on the long wick a few candles before the one you chose. No big deal as the harmonics played out with either low, just wondering. A few times Mr. Pip has been keen on including true high/lows for fib lines.

Anywho--great trade. You could retire rich with one or two of those per day!
  • #1,371
  • Jan 14, 2013 9:15pm Jan 14, 2013 9:15pm
Quoting omonla
I am in this.price found resistance at the 78.6 retracement signifying a potential ABCD pattern but my take profit is at 38.2Attachment
I agree with the comment from Mr. Pip, closing the trade at 38.2% likely means you are either trading scared or too large of size. That is a beautiful set up. ABCD with the C forming a lower high double top = ohh laa laa. I would expect a move back down to B if not the 1.27 extension past B.

Good luck!
  • #1,372
  • Jan 14, 2013 9:17pm Jan 14, 2013 9:17pm
close all the ratio and see naked... what B means ?

Quoting Davit
To me AU represent complete pattern and from 1.054 PA most likely will go up again.
not euphoria follower
  • #1,373
  • Jan 14, 2013 9:19pm Jan 14, 2013 9:19pm
Quoting BroncoCap
Awesome trade. Curious why your B point is not on the long wick a few candles before the one you chose. No big deal as the harmonics played out with either low, just wondering. A few times Mr. Pip has been keen on including true high/lows for fib lines.

Anywho--great trade. You could retire rich with one or two of those per day!
I didn't take the trade.Sometimes hard to keep a track of all the pair set ups.
My goal is modest 20-30pips a day.I made 40pips today so not greedy.10% a month 3k account compounded is 900k in 5yrs.So I am patient.
Good catch on the candle.I was little sloppy.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,374
  • Jan 14, 2013 9:24pm Jan 14, 2013 9:24pm
Quoting Davit
I didn't take the trade.Sometimes hard to keep a track of all the pair set ups.
My goal is modest 20-30pips a day.I made 40pips today so not greedy.10% a month 3k account compounded is 900k in 5yrs.So I am patient.
Good catch on the candle.I was little sloppy.
Regards
That is why I am only trading EURUSD, and still taking 3-5 trades a day. I agree, reasonable daily goals, good risk management, patience and perseverance = SUCCESS!

I am intrigued at the 30min and 1hr charts, been looking at 1min only since the EURUSD has been a straight line in all other TFs, but it is beginning to bounce around = opportunity
  • #1,375
  • Jan 14, 2013 9:33pm Jan 14, 2013 9:33pm
Quoting BroncoCap
That is why I am only trading EURUSD, and still taking 3-5 trades a day. I agree, reasonable daily goals, good risk management, patience and perseverance = SUCCESS!

I am intrigued at the 30min and 1hr charts, been looking at 1min only since the EURUSD has been a straight line in all other TFs, but it is beginning to bounce around = opportunity
I don't trade 1min.I look 1hr for set ups and 15min for entries.1 min is too nerve racking to me.
Good luck on trading.Don't trade Euro now.Wait at least Frankfurt open to get a feel where PA is heading.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,376
  • Jan 14, 2013 9:37pm Jan 14, 2013 9:37pm
Quoting Davit
I don't trade 1min.I look 1hr for set ups and 15min for entries.1 min is too nerve racking to me.
Good luck on trading.Don't trade Euro now.Wait at least Frankfurt open to get a feel where PA is heading.
Regards
Oh yeah, I should be finding a pillow soon, I won't trade for another 6-8hrs. I am in no rush, markets will be there. Just looking at patterns. Amazing how for one range of time the 1min will be perfect, then go to crap, but then the 15min is perfect. Another cross will be great at 1hr, but sloppy on 5min. As I say, opportunity everywhere, just have to be patient, let it develop and do not force trades.
  • #1,377
  • Jan 14, 2013 9:49pm Jan 14, 2013 9:49pm
Quoting iqyu5an
close all the ratio and see naked... what B means ?
I don't understand your question to be honest.
To me your AU 4hr chart is forced. Your C is not formed and your PRZ is based on assumptions of C
As Mr.PIP has said as long as we don't have C we don't have a pattern.
However on 30min time I posted completed pattern.
Question is relevancy of TF.How long will you be holding a trade to reach your goal.1week? a Month? How about pricy swap on Aussie which is very expensive.
To me 4hr chart is irrelevant unless you are a swing trader.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,378
  • Edited 10:19pm Jan 14, 2013 9:56pm | Edited 10:19pm
don't see my 4H chart.. just see your m30 chart. or whatever the TF. your B already tell something...

my 4H is being forced ??? how ? am IN based on price action... after clear rejection from the resistance .

personally... i identify my area of interest for anything first ( long/short ) . In C, A or B and even in D there must be "d" in lower tf. once i see it and clear rejection from s/r.. and the risk reward is OK.........then i am IN

am free swap whatever the currency is

to see how the PA in the area of interest ........... i always see PA not at that day only....... but i look back at least a week ago . i need that to compare


that's the reason also i did not entry on bearish BAT for euro... last week ... see as a whole ...... not on the spot only.

how u confirmed rejection ?


http://www.nature.com/ki/journal/v62...4493262f1b.gif
Quoting Davit
I don't understand your question to be honest.
To me your AU 4hr chart is forced. Your C is not formed and your PRZ is based on assumptions of C
As Mr.PIP has said as long as we don't have C we don't have a pattern.
However on 30min time I posted completed pattern.
Question is relevancy of TF.How long will you be holding a trade to reach your goal.1week? a Month? How about pricy swap on Aussie which is very expensive.
To me 4hr chart is irrelevant unless you are a swing trader.
Regards
not euphoria follower
  • #1,379
  • Edited 10:28pm Jan 14, 2013 10:18pm | Edited 10:28pm
Quoting iqyu5an
don't see my 4H chart.. just see your m30 chart. or whatever the TF. your B already tell something...

my 4H is being forced ??? how ?
http://www.forexfactory.com/attachme...5&d=1358148111
Your red triangle is projection on your part.It does not exist therefore your TP2 does not exist.
That's all.That is why I said it was forced.C leg must be formed to know if we have a pattern.For all purposes PA could continue up
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,380
  • Edited 10:31pm Jan 14, 2013 10:20pm | Edited 10:31pm
heyyyyyyyy there is pitchfork channel drawn there... look at

she even could not break the median line of the pitchfork channel and broke the channel already... . now she is dancing between channel and triggerline ...
http://stockcharts.com/school/data/m...w-6-csxdwn.png

http://stockcharts.com/school/data/m...-7-rdctrig.png

that's bat action magnet move or BAMM. am i joking talk about BAMM ? here you go : link (http://www.trade-forex-harmonic-patterns.com/harmonic-trading-tips-bat-pattern.html)


pitchfork ??? here : link (http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:andrews_pitchfork)

TP#1 and TP#2 is a target 1 and target 2 ..u can close wherever u want.... could be at TP1 and TP2... or just before. after hit TP.... we could buy at those level with B as the bull target. 2 way trading. ( but we should see the PA first of crozzzzzzzz )

no holy grail in the world...... imho
Quoting Davit
http://www.forexfactory.com/attachme...5&d=1358148111
You red triangle is projection on your part.It does not exist therefore your TP2 does not exist.
That's all.Regards
not euphoria follower
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