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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

  • #2,001
  • Jan 23, 2013 4:47pm Jan 23, 2013 4:47pm
EURJPY H1 - Potential Gartley Buy setup
Attached Image (click to enlarge)
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"I don't always trade markets, but when I do, I prefer harmonics."
  • #2,002
  • Jan 23, 2013 6:05pm Jan 23, 2013 6:05pm
Heres a trade im taking on GU.

I've got a Buy limit waiting. I will watch PA for TP. However im expecting a move to at least if GU rallies 1.5944.
  • #2,003
  • Jan 23, 2013 6:06pm Jan 23, 2013 6:06pm
Graphs
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu buy 1.23.13 harmonic.gif Size: 32 KB
Click to Enlarge Name: gu buy 1.23.13 harmonic d.gif Size: 37 KB
  • #2,004
  • Jan 23, 2013 7:45pm Jan 23, 2013 7:45pm
Quoting Starry
BC is basically the same as extending AB, you just get another fib number. a retracement + an extension is good. Or the completion of abcd and another smaller ab = cd or whatever pattern at the completion point of the larger abcd. Or the completion of the c point (i.e. a retracement) along with the completion of a smaller ab = cd (an extension)
If you fail to plan, you plan to fail.
  • #2,005
  • Jan 23, 2013 8:01pm Jan 23, 2013 8:01pm
Quoting ymmit
Hi Mr Pip and everyone,

I am in a different time zone to most people on this thread, so my day is just about to start and I also have a day job. My trading time is when London opens (at night here downunder). I really appreciate your comments and diagrams. The comments on confluence and Price Zone have been valuable. My area of trading weakness is how to enter the price resistance zone. In some diagrams there might be just one bar within 61.8 and an entry has been made,(Agressive C I believe), whilst other times a number of bars show a clear area...
Look at this major confluence example. This is the type of trade where entering on a limit order would not be a problem on this much confluence I would enter blindly.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPJPY (1 Min) 1_23_2013.jpg Size: 104 KB
If you fail to plan, you plan to fail.
  • #2,006
  • Jan 23, 2013 8:15pm Jan 23, 2013 8:15pm
Pattern Complete and entry
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Click to Enlarge Name: $GBPJPY (1 Min) 1_23_2013.jpg Size: 125 KB
If you fail to plan, you plan to fail.
  • #2,007
  • Jan 23, 2013 8:27pm Jan 23, 2013 8:27pm
You see even major confluence fails and even I lose trades every now and then got stopped out for a 14 pip loss.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPJPY (1 Min) 1_23_2013.jpg Size: 76 KB
If you fail to plan, you plan to fail.
  • #2,008
  • Jan 23, 2013 8:34pm Jan 23, 2013 8:34pm
its almost a butterfly now. it morphed
  • #2,009
  • Jan 23, 2013 8:38pm Jan 23, 2013 8:38pm
Quoting Starry
its almost a butterfly now. it morphed
Not per the rules I follow the butterfly needs to have at least a 78.6correction of XA. This did not do that.
If you fail to plan, you plan to fail.
  • #2,010
  • Jan 23, 2013 8:41pm Jan 23, 2013 8:41pm
Quoting Mr. Pip
Not per the rules I follow the butterfly needs to have at least a 78.6correction of XA. This did not do that.
k. up she goes! that gbpjpy is a beast
  • #2,011
  • Jan 23, 2013 8:41pm Jan 23, 2013 8:41pm
Well Traders,

I'll catch you tomorrow. Have a good night or day and good hunting.
If you fail to plan, you plan to fail.
  • #2,012
  • Jan 23, 2013 8:42pm Jan 23, 2013 8:42pm
Quoting Starry
k. up she goes! that gbpjpy is a beast
Sure is.
If you fail to plan, you plan to fail.
  • #2,013
  • Jan 23, 2013 9:12pm Jan 23, 2013 9:12pm
A nice looking Gartley during Asian session.
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 38 KB
  • #2,014
  • Edited 10:38pm Jan 23, 2013 10:12pm | Edited 10:38pm
This is a EJ AB=CD aggressive C (well...kind of) 4 hour which I took a while a go and it appears to be finally materializing.

In the past, I am fairly sure I wouldn't have taken the trade around the highlighted area. I actually didn't catch the trade in that area, I still need to work on my timing / trading psych. But I love how harmonics works, and allowed me to enter with a very interesting R:R. I am taking profit just before 127% extension, but it is probably smarter to look at 161%
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 17 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #2,015
  • Jan 23, 2013 11:36pm Jan 23, 2013 11:36pm
Thank you for your wonderful post. You intro video was clearly presented and very illuminating, I have been studying the ebook High Probability Trading Stratigies. This was posted by an astute trader in another post, ( I apologize to that poster for the lack of proper reference ). The books' system touches on fib extensions. I must say your posting was much clearer as to the concept behind fib extensions. Another element touched on in the attached ebook has to do with applying those same fib extension levels to the time scale, overlaid on price extension charts. The concept of finding high probability time periods, using fib extensions to the time scale, would appear to compliment your studies. I am just now begining to experiment with these tools and am grateful to you for opening this door.
I would be curious to know if anyone finds the attached ebook's reference to fib extensions of timing of price changes relevant to the topic.
Attached File(s)
File Type: pdf High Probability Trading Strategies.pdf   7.2 MB | 86,566 downloads
  • #2,016
  • Jan 24, 2013 1:15am Jan 24, 2013 1:15am
Quoting kyurem
had to be very patient on that one.
Scaled out 1/3 of my position....on this first targeted area.
The other 2/3 are BE for next targets @88.95 and @89.25
Beautiful Bat !
targets 2 and 3 are also hit...
Attached Image (click to enlarge)
Click to Enlarge Name: BAT-usdjpy-H1-20130123_ok.jpg Size: 128 KB
  • #2,017
  • Jan 24, 2013 2:47am Jan 24, 2013 2:47am
Many thanks Mr Pip, much appreciated.

cheers
Ymmit
  • #2,018
  • Jan 24, 2013 3:01am Jan 24, 2013 3:01am
Here goes, first trade posted on this thread. Short EUR/AUD:

Reason : 618 fib retracement of swing high (1.2737) and swing low (1.2568)
: ABCD completion
: 1.272 extension of AB

SL : 1.2702
Entry : 1.2670
Target: 1.2615 (5 pips above 618 retracement of ABCD)
Risk : 32 pips
Target : 55 pips
R:R : 1.718

(think I'm going against orderflow but we'll see how the trade pans out).
Attached Image (click to enlarge)
Click to Enlarge Name: 3.EURAUD A.PNG Size: 95 KB
  • #2,019
  • Edited 4:28am Jan 24, 2013 4:14am | Edited 4:28am
Mr Pip, is it right to assume that every SWING could be a potential start for a new Pattern? and even if it is a part of an already in progress pattern?
  • #2,020
  • Jan 24, 2013 5:34am Jan 24, 2013 5:34am
Quoting Mr. Pip
You see even major confluence fails and even I lose trades every now and then got stopped out for a 14 pip loss.
Hola Mr. Pip
I almost would say I´m glad you got stopped out...cause your trading and teaching are so awsome they are almost unreal...

Keep up the good work and thank you again...

...and of course hope you recover that loss real fast...
I´m so glad at least some people are getting a bite from the big Boys and Brokers...


By the way, system´s... working for me....!!!!!
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