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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

  • #1,721
  • Jan 19, 2013 10:58am Jan 19, 2013 10:58am
Quoting Floyd1
About the agressive sell GBP/JPY I told you guys about yesterday

See enclosed chart

Price bounced off 144.00 area several times so major resistance was evident - projected swings etc are entirely mine and I am not sure they are even correct
As said I am new at this and still very much learning

This was my thinking when I sold at 144.04 see arrow in chart

Do you agree we are looking at valid patterns or did I just get lucky with this sell ?

It also got a bit hairy when down at 143.20 area so opted to get out there - bagged 94 pips...
I would have to look better but it looks right. O e thing you need to fix is that when you make your harmonic projections you must include the tails or highs of the candles.
If you fail to plan, you plan to fail.
  • #1,722
  • Jan 19, 2013 11:17am Jan 19, 2013 11:17am
Would be great to hear your findings - looking now past this one trade

Want to make sure I get the rules right when trading these harmonic patterns, that's what matters most to me
  • #1,723
  • Jan 19, 2013 11:19am Jan 19, 2013 11:19am
Milanello,
In my view there is no pattern on the 4hr or daily. The Gartley pattern you drew does not meet criteria number 1 which it must fall 61.8-78.6%. In my view it fell to 38.2. I will put together a chart and show you my view. Others may disagree.

Correction: maybe bearish Butterfly
Empower Your Mind
  • #1,724
  • Jan 19, 2013 11:40am Jan 19, 2013 11:40am
I had a minute to look at it. Everything to me suggest it could be forming a bearish butterfly. All criteria line up except the completion of D which is right at 127 ext. Also if you notice there was a retrace which may create another leg in there and if it breaks it should gives us a 1:1 which also put us right at our 127 completion point and puts us in the PRZ area. Further confluence was noticed 10/5/12 where a big drop happen to add to our downward order flow. Everyone please chime in to help and tell me what you see.
Empower Your Mind
  • #1,725
  • Jan 19, 2013 11:41am Jan 19, 2013 11:41am
Here is the chart of the EUR/AUD 4hr
Attached Image (click to enlarge)
Click to Enlarge Name: ea4.jpg Size: 85 KB
Empower Your Mind
  • #1,726
  • Jan 19, 2013 1:25pm Jan 19, 2013 1:25pm
I re-adjusted the target areas on to potential long term trades. Have a good weekend. I'm off to my second JOB. YEEHAWW!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ga.png Size: 21 KB
Click to Enlarge Name: ea4.png Size: 16 KB
Empower Your Mind
  • #1,727
  • Jan 19, 2013 2:34pm Jan 19, 2013 2:34pm
mr pip,
on the abcd 38.2 retracement of BC for moving to break even, what if it just wicks through it and doesn't close beyond it? do we still move to break even?

For example, heres a chart of the euraud, it pierced 38.2 and didnt close beyond it. there will probably be a gap over the weekend, so not a good trade...

Attached Image (click to enlarge)
Click to Enlarge Name: euraud_15min.png Size: 173 KB
  • #1,728
  • Jan 19, 2013 2:40pm Jan 19, 2013 2:40pm
Quoting Starry
mr pip,
on the abcd 38.2 retracement of BC for moving to break even, what if it just wicks through it and doesn't close beyond it? do we still move to break even?

For example, heres a chart of the euraud, it pierced 38.2 and didnt close beyond it. there will probably be a gap over the weekend, so not a good trade...

Attachment
Yes wicks count. Stops move.
If you fail to plan, you plan to fail.
  • #1,729
  • Edited 3:28pm Jan 19, 2013 3:17pm | Edited 3:28pm
Quoting vqtrader
Here is the chart of the EUR/AUD 4hr
For practice. critique welcome. I only included PRZs to the bearish side because i 'believe' that price has to pick up some momentum before it can pierce the top prz, and the przs would be really high up anyways, plenty of time to react.

edit: why not, added prz 0, to the upside. does it really matter where it goes?

Heres my chart. 4 przs, one already happened.
PRZ 0 : 127.2-161.8% extension of AB, nearby structure (is this a butterfly? )
PRZ 1: 1.13 extension of AB (failed impulse wave), it was in the 78.6% zone, and it had pierced the 38.2% line and stalled. Price action on the 15 minute timeframe confirmed the trade (a pullback to the 61.8% zone along with a hangman)

PRZ 2: AB = CD, 88.6% zone, prior structure
PRZ 3: Probably too early. 127.2%-161.8% harmonic extension of BC, prior structure ,61.8% zone.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.png Size: 249 KB

15 minute price action in PRZ 1
Attached Image (click to enlarge)
Click to Enlarge Name: eurad_15minute_larger_timeframe.png Size: 175 KB
  • #1,730
  • Jan 19, 2013 3:26pm Jan 19, 2013 3:26pm
To Bary and all the others who help me a Big thanks it is really great to have you and also offcourse mr pip in the thread.


Best regards
  • #1,731
  • Jan 19, 2013 4:50pm Jan 19, 2013 4:50pm


http://www.youtube.com/watch?v=nGeKSiCQkPw
  • #1,732
  • Jan 19, 2013 4:55pm Jan 19, 2013 4:55pm
Just for fun, ive been practicing copying impulse waves on sharp turnarounds, and defining przs that way. i have no clue how valid this is. heres euraud, 15 minute.

maybe theres a harmonic way to more cleanly describe this phenomenon of similar impulse wave sizes.


Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_Breakdown.png Size: 189 KB
  • #1,733
  • Jan 19, 2013 5:05pm Jan 19, 2013 5:05pm
Mr Pip, thank you for your latest video. I am enjoying seeing the relationship between Gartley and ABCD patterns, and I am glad you have introduced your patterns in this order. The potential to trade these these two patterns seem a lot easier.....now to practice.

Thanks
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #1,734
  • Jan 19, 2013 5:39pm Jan 19, 2013 5:39pm
Quoting Floyd1


http://www.youtube.com/watch?v=nGeKSiCQkPw
Barry
  • #1,735
  • Jan 19, 2013 6:34pm Jan 19, 2013 6:34pm
Hi,
Just wondering if I have drawn the chart Floyd1 put up earlier on the GBPJPY 5 min correctly? Can anyone help me out please and tell me if it is a Gartley pattern?
cheers Ymmit
Attached File(s)
File Type: docx GBPJYP 5min.docx   90 KB | 338 downloads
  • #1,736
  • Jan 19, 2013 7:16pm Jan 19, 2013 7:16pm
Quoting ymmit
Hi,
Just wondering if I have drawn the chart Floyd1 put up earlier on the GBPJPY 5 min correctly? Can anyone help me out please and tell me if it is a Gartley pattern?
cheers Ymmit
I have not compared to my chart but it looks like BC leg closed beyond the 786. This invalidates the pattern.
If you fail to plan, you plan to fail.
  • #1,737
  • Jan 19, 2013 7:17pm Jan 19, 2013 7:17pm
Quoting Ezzy
Mr Pip, thank you for your latest video. I am enjoying seeing the relationship between Gartley and ABCD patterns, and I am glad you have introduced your patterns in this order. The potential to trade these these two patterns seem a lot easier.....now to practice.

Thanks
Ezzy
If you fail to plan, you plan to fail.
  • #1,738
  • Jan 19, 2013 7:21pm Jan 19, 2013 7:21pm
Quoting Starry
Just for fun, ive been practicing copying impulse waves on sharp turnarounds, and defining przs that way. i have no clue how valid this is. heres euraud, 15 minute.

maybe theres a harmonic way to more cleanly describe this phenomenon of similar impulse wave sizes.


Attachment
Hey bud stick to main and dominant swings. You are going to mess up this way. It's okay to do this for added validation of a PRZ but this approach will give you too many PRZ and most of them will not be valid.
If you fail to plan, you plan to fail.
  • #1,739
  • Jan 19, 2013 8:17pm Jan 19, 2013 8:17pm
Mr. Pip,

I've been for several days follow your thread and found that it's verry helping for my learning on trading ; your explanation is clear and easy to follow, video is great and document is absolutly open my eyes to see a pattern on the chart...for all of that I want to say than you verry much

I just want to ask something Mr. Pip ; on your explanation about Aggressive C Buys/Sells, you put a note that "Taking an entry against order flow offers a lower probability trade and exposes you to greater risk" ; Could you eplain what is "order flow" means ???
It's maybe over demanding, but if you have a time to explain it, could you make it with some picture (or video maybe), for clearify your means about "order flow" terms.

Over all, thanks for your wonderfull charity job in here, really helping me and others newbie, GBU
  • #1,740
  • Edited Jan 20, 2013 2:13am Jan 19, 2013 10:07pm | Edited Jan 20, 2013 2:13am
If EU able to break and close above D next week, we might expect up trend continuation. But if EU able to touch B 1.3139 or 61.8%, TP reached.
Will EU respect AB=CD

Let's see where EU heading


Twinsummit
Attached Image (click to enlarge)
Click to Enlarge Name: HARMONIC EU - 2013.01.18.jpg Size: 202 KB
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
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