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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

  • #1,581
  • Jan 17, 2013 11:26am Jan 17, 2013 11:26am
Is this the next potential pattern?
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Trading is the hardest easy money You'll ever get.
  • #1,582
  • Jan 17, 2013 11:33am Jan 17, 2013 11:33am
Quoting rumba68
I think order flow is up on that one. I wouldn't have gone short there. The uptrend on 5min retraced to 38.2 level before resuming up. You traded the minor correction after that. Risky in my opinion.
Yes, but if the pattern was a Gartley, which I am thinking it was (or nearly was), then a short is the next step. I have 0, zero, zilch, nada experience identifying gartley, so I may be wrong, but the ratios seem to work out. C did not close above 61.8% though...

http://i.imgur.com/HN5IE.png

Either way, you win some, you lose some. Tight stops, money management, risk:reward, if all followed, minimize the effect of losses.
  • #1,583
  • Jan 17, 2013 11:41am Jan 17, 2013 11:41am
You are absolutly right about the Gartley pattern and if you pay attention you'll see the price did react after reaching the confluence zone briefly and then resumed. If you look at within the context of the timeframe though it was still a risky trade. Just because a Gartley pattern is formed on a short timeframe that doesn't mean you can ignore what is happening in a higher timeframe.
Quoting BroncoCap
Yes, but if the pattern was a Gartley, which I am thinking it was (or nearly was), then a short is the next step. I have 0, zero, zilch, nada experience identifying gartley, so I may be wrong, but the ratios seem to work out. C did not close above 61.8% though...

http://i.imgur.com/HN5IE.png

Either way, you win some, you lose some. Tight stops, money management, risk:reward, if all followed, minimize the effect of losses.
  • #1,584
  • Jan 17, 2013 11:44am Jan 17, 2013 11:44am
Quoting rumba68
You are absolutly right about the Gartley pattern and if you pay attention you'll see the price did react after reaching the confluence zone briefly and then resumed. If you look at within the context of the timeframe though it was still a risky trade. Just because a Gartley pattern is formed on a short timeframe that doesn't mean you can ignore what is happening in a higher timeframe.
Agreed! I was just thinking that going short was not completely wrong. "It's subjective" is the last thing most traders want to hear, but it is true. The short could have won, it could have lost. Only a trader with experience and statistics to back them up truly knows what to expect.
  • #1,585
  • Jan 17, 2013 11:45am Jan 17, 2013 11:45am
Quoting jgadefelth
Hi

I am at page 36 and the words order flow have come up sometimes please explain how to be in the order flow ? and not trade against it.


Best regards
Here are some links jg, most notably a link to Mr. Pip's YouTube account and videos. Watch, read, and learn.

http://www.forexfactory.com/showthread.php?p=6363379#post6363379
http://www.forexfactory.com/showthread.php?p=6350257#post6350257
http://www.forexfactory.com/showthread.php?p=6335741#post6335741
http://www.forexfactory.com/showthread.php?p=6359945#post6359945
YouTube (http://www.youtube.com/user/dcastfx)
  • #1,586
  • Jan 17, 2013 11:48am Jan 17, 2013 11:48am
Let's put it this way. If this Gartley setups up on a higher timeframe I'd take it without hesitation. Only because there is enough room to manage the trade and get out if you are wrong. You can even close with partial profits. But on a 5min chart you don't really have much room to manage a trade like this.
Quoting BroncoCap
Agreed! I was just thinking that going short was not completely wrong. "It's subjective" is the last thing most traders want to hear, but it is true. The short could have won, it could have lost. Only a trader with experience and statistics to back them up truly knows what to expect.
  • #1,587
  • Jan 17, 2013 11:58am Jan 17, 2013 11:58am
Quoting BroncoCap
Here are some links jg, most notably a link to Mr. Pip's YouTube account and videos. Watch, read, and learn.

http://www.forexfactory.com/showthread.php?p=6363379#post6363379
http://www.forexfactory.com/showthread.php?p=6350257#post6350257
http://www.forexfactory.com/showthread.php?p=6335741#post6335741
http://www.forexfactory.com/showthread.php?p=6359945#post6359945
YouTube (http://www.youtube.com/user/dcastfx)


Tahnks i watrfching the video on page 36 and i get alot of questions. It is great if you some of the more experienced traders can answears my Q´s. What is the difference between abcd and ab=cd pattern ?

In the video to see how far price could go against us likely he draw a line from a swing down from A is it always like that Yiou draw down from A to find a target where price can go ?


Best regards
  • #1,588
  • Jan 17, 2013 11:58am Jan 17, 2013 11:58am
Mr.Pip

Great Videos-- I have to say the timing of you starting this thread and my own timing -- were lets just say harmonic...

UCHF Gartley?- D wasn't .786 of X and the Price rejection was at .886 - The PRZ pretty tight between .886 and 1.27 (and also the 61.8% of the larger 500 pip .95-.90 swing) Would you have called this a Gartley?
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  • #1,589
  • Jan 17, 2013 12:09pm Jan 17, 2013 12:09pm
Quoting jgadefelth
Tahnks i watrfching the video on page 36 and i get alot of questions. It is great if you some of the more experienced traders can answears my Q´s. What is the difference between abcd and ab=cd pattern ?

In the video to see how far price could go against us likely he draw a line from a swing down from A is it always like that Yiou draw down from A to find a target where price can go ?


Best regards
I think you should watch his ABCD video again, it is very clear, at least I think so.

ABCD is the ideal pattern where the C point closes past 61.8% but does not close beyond the 78.6% retracement levels. It can 'wick' past the 78.6% but not close. Any other retracement, either shallower or deeper, is an AB=CD where you are just extrapolating the CD distance from the AB distance.

Again, read, watch, prosper, it is all there, but no guarantees you will get it on the first try.

Cheers!
  • #1,590
  • Jan 17, 2013 12:26pm Jan 17, 2013 12:26pm
Quoting BroncoCap
I think you should watch his ABCD video again, it is very clear, at least I think so.

ABCD is the ideal pattern where the C point closes past 61.8% but does not close beyond the 78.6% retracement levels. It can 'wick' past the 78.6% but not close. Any other retracement, either shallower or deeper, is an AB=CD where you are just extrapolating the CD distance from the AB distance.

Again, read, watch, prosper, it is all there, but no guarantees you will get it on the first try.

Cheers!

ok thanks on a abcd pattern dont you also take ab to get cd ? IN POST 549 is it just show main and dominant swings or is it more like he trades them ?


Best regards
  • #1,591
  • Jan 17, 2013 12:34pm Jan 17, 2013 12:34pm
Quoting kyurem
Hi all,

Bat on usdjpy 1H, not the nicest one, but the PRZ seems to hold.
shorted at 89.45 [email protected] [email protected]
stopped out.
this failed bat may lead to a beautiful crab with abcd pattern...
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  • #1,592
  • Jan 17, 2013 1:05pm Jan 17, 2013 1:05pm
Could someone please explain what does the abbreviation TP & BE means?
and am i right to say that PA means price action?

Thanks
  • #1,593
  • Jan 17, 2013 1:30pm Jan 17, 2013 1:30pm
target price break even
  • #1,594
  • Jan 17, 2013 1:38pm Jan 17, 2013 1:38pm
[/quote]
Quoting Ed777
target price break even
thanks
  • #1,595
  • Jan 17, 2013 2:19pm Jan 17, 2013 2:19pm
Quoting BroncoCap
Agreed! I was just thinking that going short was not completely wrong. "It's subjective" is the last thing most traders want to hear, but it is true. The short could have won, it could have lost. Only a trader with experience and statistics to back them up truly knows what to expect.
Heres what ive noticed.
When you have impulse waves, a strong resistance can change the length of the impulse wave, either shortening or lengthening it. It can also signal the transition to another impulse wave (the previous impulse wave becomes invalid). I theorize that after a gradual breakthrough and then a retest, its most likely that it will transition to another impulse wave.

I think all subjectivity should be cast into rules that can then be tested and refined to work more often. Then, as you use the rules more often, you're 'intuition/subjectivity' will follow rules that work (rules will become automatic)

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  • #1,596
  • Jan 17, 2013 4:15pm Jan 17, 2013 4:15pm
Quoting jgadefelth
ok thanks on a abcd pattern dont you also take ab to get cd ? IN POST 549 is it just show main and dominant swings or is it more like he trades them ?


Best regards
Yes an ABCD also takes AB to get CD. In a ABCD pattern the C leg is tradable, but in a AB=CD the Aggressive C entry is invalid, you only look to trade the "D"
Post 549 was just what it says! More examples of main swings and dominate swings. We have to identify these swings first, then draw fibs and harmonics to identify ABCD and other patterns, which we then look for trade opportunities. You need to watch the videos listed on pg 1 and if you don't understand watch them again. Also review all of Mr Pips posts. All is explained! Not to be mean but if someone doesn't understand after all that this is not for them.

As long as I'm on a roll......Reading pg1 and reviewing the listed material that Kilian19 posted should be a requirement before posting on this thread.
We are glad to help and answer questions from anyone who has done their homework but someone needs to at least understand the basics before asking for help.
I hope this doesn't offend any one.
Barry
  • #1,597
  • Jan 17, 2013 4:17pm Jan 17, 2013 4:17pm
Quoting yohan777
I am new on this thread
Am I right here? What do you think Mr. Pip?
Please label your swings and ask a specific question so we know what you're thinking. We can better help you that way.
Also put your fibs on there. Saves us from having to do it.
Barry
  • #1,598
  • Jan 17, 2013 4:38pm Jan 17, 2013 4:38pm
Article to share of interview with a trader on harmonics.

http://www.moneyshow.com/trading/article/27/FXbiwkly08-30301/Trading-with-Harmonics/
  • #1,599
  • Jan 17, 2013 4:39pm Jan 17, 2013 4:39pm
Quoting kyurem
stopped out.
this failed bat may lead to a beautiful crab with abcd pattern...
I haven't traded a crab yet so I don't know the rules, but there's an ABCD also.
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Barry
  • #1,600
  • Jan 17, 2013 4:59pm Jan 17, 2013 4:59pm
Hola Mr PiP and friends,

I have not forgotten about you nor the room. I have been pluggin away at the videos numeroous time reading and re-reading this thread numerous times and trading it live. Overall Mr Pip has pulled my account back to 3.15% + in the two days I have been at this. At this point it has been luck and BUNCH of Agressive C's. I like the fact I am making pips and learning at the same time. AWESOME. I have been doing this between a wife and a job I must say this is no easy feat(tired as hell). Can anybody say earplugs. Even though I am new to this type of trading I not new to trading. What I have found is the Golden nugget and Mr Pip has so honestly given us a piece of it. Hopefully, I can throw a piece back to you the room and share worthy setups! Great Work! And for those in this room I am all ears. I have a firm belief that no matter how long you have been at this there is always someone who could smoke the pips off you. Stay humble and listen. With that being her is a 5min EJ I am working on as I type this and will send pre and post trade results and I want people to tear me to pieces and build me back up so I can get bettet at this
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