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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

  • #1,401
  • Jan 15, 2013 8:07am Jan 15, 2013 8:07am
Quoting kyurem
what timeframe do you trade to set a 10pip target?
I entered at 117.82 targetting 118.50 with a SL at 117.6.
target reached, to the pip ! lucky...
Attached Image (click to enlarge)
Click to Enlarge Name: BAT-EURJPY-15MIN-20130115_ok.jpg Size: 106 KB
  • #1,402
  • Jan 15, 2013 8:24am Jan 15, 2013 8:24am
Quoting kyurem
target reached, to the pip ! lucky...
Congrats, great call
  • #1,403
  • Jan 15, 2013 8:47am Jan 15, 2013 8:47am
Quoting gbryant20
Question...which of these swings would you draw from to look for your C of the ABCD? Or are they all legit swings as long as the lows are holding?
gbryant,
I am sure some people with think there is a right and a wrong answer, I am of the opinion, #2 and #3 are good starting AB legs. That may not be true to the rules, but I am testing many of these similar legs. The EURUSD chart is/was messy with that outsized move, so waves are harder to identify. Keep watching and trading. With enough experience you may find one of the three is better than the other two, or that all three were winners. That's the market for you!
  • #1,404
  • Jan 15, 2013 8:58am Jan 15, 2013 8:58am
Quoting cuchuflito
True, kiss is the key.
But sometimes it´s fun to see how lines cross right at D .

Mr. Pip i´ve been trading for over 15 years,I´m an expert on Fibos and Elliot...still only make it to BE.
I know this much: whenever I come across one of the few traders that really know what they are doing, I can recognize them....huge majority is just fighting....and or lying , to others and themselves.
On top of that, you are excellent in teaching...and you do it for free...
Muchas gracias...it´s great fun following this thread...making $ is another...
Let's see if we can turn that corner. I can't help you on the elliot wave, I am not a fan find the whole thing too subjective. I can ask 5 experts on elliot wave to show me the waves and they will each come up with something different. I have removed subjectivity from my trading and it has made all the difference in the world.
If you fail to plan, you plan to fail.
  • #1,405
  • Jan 15, 2013 8:58am Jan 15, 2013 8:58am
Quoting omonla
Made 50pips so far today.would have made more but electricity in my country is so bad.Thanks again Mr.pips...confidence is graduallyAttachment coming to me
Great trading!
If you fail to plan, you plan to fail.
  • #1,406
  • Jan 15, 2013 8:58am Jan 15, 2013 8:58am
Quoting gbryant20
Question...which of these swings would you draw from to look for your C of the ABCD? Or are they all legit swings as long as the lows are holding?
I would use the longer swing to start with and draw the shorter swing just to see if there's any confluence with structure etc.
IMHO
Barry
  • #1,407
  • Jan 15, 2013 9:00am Jan 15, 2013 9:00am
Quoting kyurem
target reached, to the pip ! lucky...
Nice trade. I seen it to late!
Barry
  • #1,408
  • Jan 15, 2013 9:01am Jan 15, 2013 9:01am
Quoting cuchuflito
True, kiss is the key.
But sometimes it´s fun to see how lines cross right at D .

Mr. Pip i´ve been trading for over 15 years,I´m an expert on Fibos and Elliot...still only make it to BE.
I know this much: whenever I come across one of the few traders that really know what they are doing, I can recognize them....huge majority is just fighting....and or lying , to others and themselves.
On top of that, you are excellent in teaching...and you do it for free...
Muchas gracias...it´s great fun following this thread...making $ is another...
Sounds familiar..... Don't give up there's something we're missing...maybe it's Mr Pip!!!
Barry
  • #1,409
  • Jan 15, 2013 9:04am Jan 15, 2013 9:04am
Gd Night Traders
Attached Image (click to enlarge)
Click to Enlarge Name: HOZ Harmonic 16 Jan 2013.jpg Size: 178 KB
  • #1,410
  • Jan 15, 2013 9:23am Jan 15, 2013 9:23am
Quoting kyurem
Hi redpip,

thanks for your comment.
The zone I marked is the PRZ identified for the bat, around 0.886 of XA. I'm not sure the 1Hr 38.2 should be considered, cause it enlarges too much the PRZ. Maybe a Mr pip can answer to this....

rgds,
This Bat does not fall within my ROE but it does fall under the generic pattern. As this pattern played out cause the PRZ to be too wide for my taste. I appears it has worked out any way but where would you have entered and the best area of confluence is where price reversed. This was outside of the patterns PRZ. So if you entered in the PRZ you went through some pain before experiencing what is not pleasure.

Can you see even if the pattern is invalidated per my ROE there were many other harmonic considerations and a case for entry in the area I identified as much better confluence on my chart. There was little to no confluence in the Bat's PRZ.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURJPY (15 Min) 1_15_2013.jpg Size: 118 KB
If you fail to plan, you plan to fail.
  • #1,411
  • Jan 15, 2013 9:50am Jan 15, 2013 9:50am
Quoting redpip61
I agree, setting the PRZ off the 15M keeps it tighter, but I was looking for other reasons. Anyhow, got 10+ pips off this, but plenty more to be had there.
We need to work on the trade management. Follow those rules exposing your self for 10 pip gain is not acceptable what was your stop? Why did you only go for 10 pips? What facts did you consider?
Attached Image (click to enlarge)
Click to Enlarge Name: $EURJPY (15 Min) 1_15_2013.jpg Size: 90 KB
If you fail to plan, you plan to fail.
  • #1,412
  • Jan 15, 2013 9:59am Jan 15, 2013 9:59am
Quoting FineForex
GBP/USD ABCD resuming aggressive C on support from fibonacci and structure.

any opinions?
Remember to take a step back and see if you missed anything. Could be a really nice ride up to a Bat completion with nice confluence.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (30 Min) 1_15_2013.jpg Size: 101 KB
If you fail to plan, you plan to fail.
  • #1,413
  • Jan 15, 2013 10:02am Jan 15, 2013 10:02am
Quoting gbryant20
Question...which of these swings would you draw from to look for your C of the ABCD? Or are they all legit swings as long as the lows are holding?
They are all correct you can use all three to find confluence and trade each as well start with the smallest and go from there.
If you fail to plan, you plan to fail.
  • #1,414
  • Jan 15, 2013 10:05am Jan 15, 2013 10:05am


spot on and keep fasten the seatbelt
Quoting FineForex
GBP/USD ABCD resuming aggressive C on support from fibonacci and structure.

any opinions?
imho :


Quoting iqyu5an
"d" in your chart could be C in higher TF or bigger periode...try to zoom in and zoom out... u will get the idea.

lets trade from "d" to "D"

could be the longest wave ...........


EU as old example ....
http://www.forexfactory.com/attachme...7&d=1358145945
this is harmonic elliot wave ........HEW

for GU... it's in certain point at that chart at the moment .........am looking for the longest wave like EU last week. hopefully............... praying time

Quoting iqyu5an
what u see now ??

there is multiple bullish pattern around your D in uptrend channel ...

could be 300 pip or at least 100 pip ..... ....... may beeeeee
not euphoria follower
  • #1,415
  • Jan 15, 2013 10:12am Jan 15, 2013 10:12am
Quoting Mr. Pip
This Bat does not fall within my ROE but it does fall under the generic pattern. As this pattern played out cause the PRZ to be too wide for my taste. I appears it has worked out any way but where would you have entered and the best area of confluence is where price reversed. This was outside of the patterns PRZ. So if you entered in the PRZ you went through some pain before experiencing what is not pleasure.

Can you see even if the pattern is invalidated per my ROE there were many other harmonic considerations and a case for entry in the area...
Hello Mr pip,

many thanks for your enlightening view.
I've noticed you don't use the 0.886 ratio in you fibo retracement for point C. Is there any reason? Scott Carney mentions it in his books.
Another question I have is about the PRZ, what is a good PRZ width for you?

Kyurem
  • #1,416
  • Jan 15, 2013 10:12am Jan 15, 2013 10:12am
Quoting Mr. Pip
Remember to take a step back and see if you missed anything. Could be a really nice ride up to a Bat completion with nice confluence.
Thanks for the input. I'll continue to show some more as i study these patterns. they work beautifully
  • #1,417
  • Jan 15, 2013 10:16am Jan 15, 2013 10:16am
K, didnt too well today, im just going to watch from the sidelines Hindsight analysis is so much easier. here it is!

I entered at C at 142.71 and exited at breakeven. I was aiming for 142.87 with a 11 pip stoploss. But the price action in the resistance box wasnt supporting my trade, even before i entered, so good thing i got out!



I drew the lower large resistance band before price pierced it, it came from resistance from a larger timeframe. The rest is hindsight lol. The little white box is constructed from the middle smaller ABCD impulse waves, while the middle purple band is constructed from the larger ABCD impulse waves and the 78.6 fib line and nearby support and resistance that gbpjpy reacted to. The upper purple band is resistance from a larger timeframe (not in picture).

Notice that as price approached the lower purple band with the larger impulse waves, some smaller impulse waves started to form (the ones that are labelled). It was getting ready to breach the white box, which it almost did, and then the next bar it did. Constrainment formed right before the breach (shown in the circle) as it was gaining momentum to pierce the big purple band and white band.

Then it did some stuff with the middle purple band and then it went concave up from the lower purple band, stalled, and then plummeted! Bam! missed it all

But i think hindsight analysis is still useful.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_jan15.jpg Size: 147 KB
  • #1,418
  • Jan 15, 2013 10:20am Jan 15, 2013 10:20am
Traders here is an update on the three orders I have working on the higher timeframe 1H

The word document is the screen shot from Ninja on the P/L
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $AUDUSD (60 Min) 1_15_2013.jpg Size: 93 KB
Click to Enlarge Name: $EURGBP (60 Min) 1_15_2013.jpg Size: 85 KB
Click to Enlarge Name: $NZDUSD (60 Min) 1_15_2013.jpg Size: 94 KB
Attached File(s)
File Type: doc These trades were opened yesterday and are the same I showed you.doc   68 KB | 871 downloads
If you fail to plan, you plan to fail.
  • #1,419
  • Jan 15, 2013 10:26am Jan 15, 2013 10:26am
Im surprised how many equadistant impulse waves there are in gbpjpy. very nice
  • #1,420
  • Jan 15, 2013 10:26am Jan 15, 2013 10:26am
Quoting kyurem
Hello Mr pip,

many thanks for your enlightening view.
I've noticed you don't use the 0.886 ratio in you fibo retracement for point C. Is there any reason? Scott Carney mentions it in his books.
Another question I have is about the PRZ, what is a good PRZ width for you?

Kyurem
Anytime, 886 I use only for the bat and butterfly. Ninja allows me to easily turn it on and off so that's why you hardly see it on my charts. There is no specific width for the PRZ but the ROE I trade offers the tightest possible while still giving the market enough breathing room to dance. The imortant thing is to find that area of confluence.
If you fail to plan, you plan to fail.
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