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Ratios & Harmonics: a Different Way to Trade

  • #1,661
  • Jan 18, 2013 5:44am Jan 18, 2013 5:44am
Hello Traders, these are the trades for the day on the 233T. I am also flat on AUDUSD for 33. Total for the day 142 pips
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_18_2013.jpg Size: 118 KB
If you fail to plan, you plan to fail.
  • #1,662
  • Jan 18, 2013 5:47am Jan 18, 2013 5:47am
Quoting redpip61
Had a similar trade, but think we were let down by fundementals due to the poor UK retail sales causing the spike down. I was banking on a good figure as the bulls looked strong at the 944 level.

Further down there may be confluence around the 15918 area on the daily. Though it's possibly already outside of the 78.6 on the Daily chart, but this wont confirm until next week and I'm not sure this method is used at this wider time frame.

Regards to all.
Did you take long in the confluence area you mentioned ?
  • #1,663
  • Jan 18, 2013 5:51am Jan 18, 2013 5:51am
Here are the rules for the Gartley Pattern. I will be working on a video that shows the dynamics of the pattern. Aggressive entries will be covered once I feel you have the basic pattern covered.
Attached File(s)
File Type: doc DCASTFX RULES OF ENGAGEMENT GARTLEY.doc   316 KB | 2,229 downloads
If you fail to plan, you plan to fail.
  • #1,664
  • Jan 18, 2013 6:08am Jan 18, 2013 6:08am
Quoting kyurem
the crab i was waiting for....
long @ 1.5916, SL 1.5908, TP 1.5950
Potential bottom is 1.5904 in my opinion. Great otherwise.

Also, if it breaks it, go short. Nothing works like a failed pattern.


BR
  • #1,665
  • Jan 18, 2013 6:12am Jan 18, 2013 6:12am
Quoting Mr. Pip
Hello Traders, these are the trades for the day on the 233T. I am also flat on AUDUSD for 33. Total for the day 142 pips
I don't understand how you decided these target points on trade one and three. Trade one target between the 50 and 61.8 , Trade two only to the 38.2 I thought target would have been the 61.8 ? Can you help me to see what you did please?
  • #1,666
  • Jan 18, 2013 6:17am Jan 18, 2013 6:17am
Quoting tp0440
Potential bottom is 1.5904 in my opinion. Great otherwise.

Also, if it breaks it, go short. Nothing works like a failed pattern.


BR

thanks for your view.
How did you find 1.5904?
for me 1.5910/1.5812 is strong support with really nice confluence.
  • #1,667
  • Jan 18, 2013 6:22am Jan 18, 2013 6:22am
Quoting kyurem
Did you take long in the confluence area you mentioned ?
Hi Kyurem,

Yes, entered at 15914, BE @15944 and TP @15964, placed SL @15900, it's a bit of a ride at the moment though still looks positive, not sure if it will hold during the NY open. I would have thought the support at 15907 would be tested before now but the bulls seem quite strong.

My only concern is if this may turn out to be an AB=CD on the longer term. IMO.
  • #1,668
  • Jan 18, 2013 6:23am Jan 18, 2013 6:23am
Quoting Georji
Hello Mr Pip, nice trade but how do you decide your entry point ( at which candle close)? i really like your strategies but i'm not sure about choosing the right candle for any trade entry.

thank you
Look at the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: $AUDUSD (5 Min) 1_18_2013.jpg Size: 94 KB
If you fail to plan, you plan to fail.
  • #1,669
  • Jan 18, 2013 6:25am Jan 18, 2013 6:25am
Quoting kyurem
thanks for your view.
How did you find 1.5904?
for me 1.5910/1.5812 is strong support with really nice confluence.
1.5914 is TL (and pattern) bottom - 10 pips for safety. Nothing wrong with 1.5910, just thing like spikes, SL fishing, broker magic, etc., can rob you of good entry.

BR
  • #1,670
  • Jan 18, 2013 6:29am Jan 18, 2013 6:29am
Thanks Mr Pip. I was slowly trying to put together something similar. I will carry it in my back pocket. Boss is looking gotta go
Empower Your Mind
  • #1,671
  • Jan 18, 2013 6:50am Jan 18, 2013 6:50am
Quoting tp0440
1.5914 is TL (and pattern) bottom - 10 pips for safety. Nothing wrong with 1.5910, just thing like spikes, SL fishing, broker magic, etc., can rob you of good entry.

BR
ok. thanks. I'm still learning so it's good to have other's view.
  • #1,672
  • Jan 18, 2013 6:52am Jan 18, 2013 6:52am
A-U 21 pips closed hand

Attached Image (click to enlarge)
Click to Enlarge Name: au2.gif Size: 22 KB
  • #1,673
  • Jan 18, 2013 6:57am Jan 18, 2013 6:57am
Quoting kyurem
ok. thanks. I'm still learning so it's good to have other's view.
Sure. Unfortunately it didn't work, although I don't think this is over yet.


BR
  • #1,674
  • Jan 18, 2013 6:58am Jan 18, 2013 6:58am
this is the kamikaze ...

Attached Image (click to enlarge)
Click to Enlarge Name: gu3.gif Size: 23 KB
  • #1,675
  • Jan 18, 2013 7:02am Jan 18, 2013 7:02am
Quoting fiovit
this is the kamikaze ...

Attachment
If you fail to plan, you plan to fail.
  • #1,676
  • Jan 18, 2013 7:15am Jan 18, 2013 7:15am
Wow. I've been short on that one for a while.
Quoting fiovit
this is the kamikaze ...

Attachment
  • #1,677
  • Jan 18, 2013 7:28am Jan 18, 2013 7:28am
Here is why I shorted. A Gartley setup.
Attached Image (click to enlarge)
Click to Enlarge Name: trade.jpg Size: 117 KB

Quoting fiovit
this is the kamikaze ...

Attachment
  • #1,678
  • Jan 18, 2013 7:30am Jan 18, 2013 7:30am
Quoting rumba68
Here is why I shorted. A Gartley setup.
Attachment

Beautiful Trade!!
If you fail to plan, you plan to fail.
  • #1,679
  • Jan 18, 2013 8:02am Jan 18, 2013 8:02am
Quoting Damien1881
I don't understand how you decided these target points on trade one and three. Trade one target between the 50 and 61.8 , Trade two only to the 38.2 I thought target would have been the 61.8 ? Can you help me to see what you did please?
Trade one was agianst orderflow and was suppose to TP at the 61.8 but price shot up prior to the 61.8 to retest previous high. I manage my trades manually which means I open and close them without any presets. I only set stops and targets if I am not actively managing the trade.

I was already beyod my profit target an as price found resistance at the high I close the trade. Trade three I close for no other reason then I already had 142 pips between open positions and closed ones which far exceeded my daily goal. So I guess I broke my own rule but don't need to get greety. Hope this gives you the answers you were looking for.
If you fail to plan, you plan to fail.
  • #1,680
  • Jan 18, 2013 8:38am Jan 18, 2013 8:38am
Quoting well0143
man I'm going to have a cry I've am working so hard at this I'm living and breathing this stuff and i miss patterns pick wrong patterns, and its all my emotion i know its nothing else the rules are right there in black and white how can i make mistakes ya ya ya ya ya cry cry cry grrrrrrrrr blah gr ya ya ya
grrrr
argg i know exactly what you mean ! i need to simulate simulate simulate.... trading drives me nuts i dont trust the rules cause i think experience makes the rules profitable not the other way around haha ill get there. i know rules are very important
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