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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

  • #1,761
  • Jan 20, 2013 9:33pm Jan 20, 2013 9:33pm
Quoting Floyd1
Do you follow instructions from Mr Pip on stops, Starry ?
Still it can happen and you will get stopped out from time to time

I got stopped out also just now ref this rebound - no matter - on to the next one

I prefer the 15 minutes charts - those seem to work best for me anyway
I shouldnt have placed the trade because i didn't have enough capital to trade such a stoploss on my account. smallest lots is 0.01, so i need to just trade 1 minute timeframe and not have 20 pip+ stops while risking 1% of account. next time i will follow my rules on sl, see how it works out.
  • #1,762
  • Jan 20, 2013 9:40pm Jan 20, 2013 9:40pm
Ok, well a lesson there then. I have also made my share of mistakes - still do them
Still, my best trading experiences has been since I joined this tread - thats for sure
  • #1,763
  • Jan 20, 2013 9:49pm Jan 20, 2013 9:49pm
Wow, price slid right through this PRZ. Im quite sure not all PRZs are equal, there must have been a larger harmonic pulse that hadnt completed yet.

PRZ reason: AB = CD, 161.8% AB extension, 61.8% , structure.

Ill bet it will test the prz and then keep going down. unless the prz isnt really a prz, did i do this right mr pip (i guess i didnt use a dominant main swing for the AB = CD though, so its weaker) ? maybe that aggressive C sell will pay off . need to learn about price action in prz. night traders!

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_1_20_2013.png Size: 204 KB
  • #1,764
  • Jan 20, 2013 10:30pm Jan 20, 2013 10:30pm
Hi,
I am trying out a (X) tick chart this morning on the EURUSD and was wondering if this is a Gartley pattern which is attached. Obviously the start of the chart was the beginning of this week. Also, I am not sure what each candlestick represents on this chart. Is there anyone on this forum who would be kind enough to help me out? The platform isn't metatrader.
Many thanks, cheers Ymmit
Attached File(s)
File Type: docx EURUSD 21st Jan.docx   192 KB | 362 downloads
  • #1,765
  • Jan 21, 2013 3:28am Jan 21, 2013 3:28am
I have on the desk of the models, this should be a butterfly, I'm not sure you have set the stop loss well ...

Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 26 KB
  • #1,766
  • Jan 21, 2013 4:31am Jan 21, 2013 4:31am
Again left the trade to early this aggressive C sell

As Mr Pip has stated price has a tendency to slow down when approaching projected price target
That's when the ride can get a bit hairy - I still worry to much that market could take back pips in bag and projection will not be reached entirely

Well - we are learning still
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY(15 minutes)20130121113016.png Size: 35 KB
  • #1,767
  • Jan 21, 2013 4:33am Jan 21, 2013 4:33am
I unfortunately closed to BE, I was ahead by 37 pips, profit was 58 pips, you can try the following PA

Attached Image (click to enlarge)
Click to Enlarge Name: ej3.gif Size: 27 KB
  • #1,768
  • Jan 21, 2013 5:04am Jan 21, 2013 5:04am
Well it happens, friend. Nice chart.
Think it will possibly be up now, from about here
  • #1,769
  • Jan 21, 2013 5:31am Jan 21, 2013 5:31am
I didn't label the pattern or draw the Gartley but I've got the fibs everywhere. I'm hoping this is an aggressive C ?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 15 min.jpg Size: 175 KB
  • #1,770
  • Jan 21, 2013 5:47am Jan 21, 2013 5:47am
I think it could be one Damien
  • #1,771
  • Jan 21, 2013 6:57am Jan 21, 2013 6:57am
Attached Image (click to enlarge)
Click to Enlarge Name: HARMONIC EU - 2013.01.21.jpg Size: 201 KB
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #1,772
  • Jan 21, 2013 6:59am Jan 21, 2013 6:59am
My Gartley for today

http://i46.tinypic.com/2r75ykw.jpg
  • #1,773
  • Jan 21, 2013 7:23am Jan 21, 2013 7:23am
My only concern would be the 38% to BE would only give you a few pips. And perhaps Mr Pip would verify if the XA is not further down to the left of chart. I'm still learning too so I expect to be corrected. But these examples are good practice to examine. Thanks.

Quoting Damien1881
I didn't label the pattern or draw the Gartley but I've got the fibs everywhere. I'm hoping this is an aggressive C ?Attachment
  • #1,774
  • Jan 21, 2013 8:19am Jan 21, 2013 8:19am
Quoting freeway51
My Gartley for today

http://i46.tinypic.com/2r75ykw.jpg
Congrats

Twinsummit
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #1,775
  • Jan 21, 2013 8:49am Jan 21, 2013 8:49am
Quoting redpip61
My only concern would be the 38% to BE would only give you a few pips. And perhaps Mr Pip would verify if the XA is not further down to the left of chart. I'm still learning too so I expect to be corrected. But these examples are good practice to examine. Thanks.
Thanks redpip , your correct I didn't move my stop to quickly but am a break even +1 now . I see X as structure and adding confluence to the PRZ but having a prz between 88 and 100 % of X to A may invalidate the Gartley pattern I'm not sure?
  • #1,776
  • Jan 21, 2013 9:04am Jan 21, 2013 9:04am
Quoting Starry
I shouldnt have placed the trade because i didn't have enough capital to trade such a stoploss on my account. smallest lots is 0.01, so i need to just trade 1 minute timeframe and not have 20 pip+ stops while risking 1% of account. next time i will follow my rules on sl, see how it works out.
try OANDA, no lots limitation, just units...you can adjust your risk size to the cent....I test strategies, literally risking (exactly), 1 Euro...when I feel comfortable, I go back to my usual 1% risk of the account...again exactly...
No matter if your account is a 100 bucks or a million...same proportions.
After that, I can go to my excell and get my RR value...exactly...

By the way, Iīm by no means a "friend " of OANDA or any other broker...they will happily run your stops like most of them.
Other sweet practices: put a TP order, it runs through but wonīt trigger...then it runs back and triggers your stop...another nice little game they play on news spikes...you could have a stop on BE, they might fill you, 10 pips or so on red...er.... slippage right...!!!
FOREX is the only Casino where the roulette getīs tilted here and there....thatīs why broker boy loves the retailler so dearly..

Thatīs why Mr. Pip goes 10 pips or so above the "normal" stop area...where all the sitting ducks are waiting to get shot.
  • #1,777
  • Jan 21, 2013 9:07am Jan 21, 2013 9:07am
Quoting Damien1881
Thanks redpip , your correct I didn't move my stop to quickly but am a break even +1 now . I see X as structure and adding confluence to the PRZ but having a prz between 88 and 100 % of X to A may invalidate the Gartley pattern I'm not sure?
I think based on your timeframe and chart the BE would be around the 9925 with a TP @ 9915, however if you were fortunate (which in this game so few are) this might be the A-B leg of a pattern. Worst case scenario is this is the B-C leg of an AB=CD. Too early to tell.

One thing in your favour is there was a lot of confluence and resistance around your entry point.
  • #1,778
  • Jan 21, 2013 10:04am Jan 21, 2013 10:04am
This is the graph where I out to BE, now I see it has reached the first profit

Attached Image (click to enlarge)
Click to Enlarge Name: ej4.gif Size: 26 KB
  • #1,779
  • Jan 21, 2013 10:38am Jan 21, 2013 10:38am
Quoting Starry
Interesting stuff. I took the chart of USDCAD and drew the vertical length of some swings (which were pretty much vertical anyways) and one diagonal. So basically harmonics is saying that the vertical length of waves are related by the fib ratios. looks good, you have to be careful to draw clean swings which dont have more than a 38.2% retracement in them , and also draw the swings from where the swing actually starts moving alot, because you dont want to measure the vertical distance that noise adds, only the vertical distance the impulses move....
I'm sorry but I am not following what you are trying to do here. What you call noise is price action as well.
If you fail to plan, you plan to fail.
  • #1,780
  • Jan 21, 2013 10:45am Jan 21, 2013 10:45am
Quoting liemo
Hi Mr Pip. Would like to pick your mind. Below GBP/AUD 1hr chart show 2 ABCD patterns completing around the same area, both reaching the 1.272 of AB extension.

Smaller abcd => Price and time of ab=cd are the same.
Larger ABCD => Time of AB=CD is different.

1) How would you approach this trade, would you trade the smaller or larger ABCD pattern?

2) (If you answered smaller abcd to question 1) If both large and small ABCD are the same in price and time, how would you trade this setup? Would your target be 618% retracement of the larger or...
I wouls trade the larger one the smaller adds strength to the PRZ. A correction of the larger pattern to the 61% would be the trade totake the 38% breakeven would protect you in the event order flow holds.
If you fail to plan, you plan to fail.
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