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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

  • #2,121
  • Jan 25, 2013 7:14am Jan 25, 2013 7:14am
Quoting Mr. Pip
I look for the confluence of the harmonics not just one. The smaller ones help guide you to the bigger ones. Trade what you see and try to forget what you think it's going to do. I only have one trade today for 33 waiting for this PRZ.
Also, how do you scale your ninja charts? The price is at the very top of my screen, while yours has some space at the top.
  • #2,122
  • Jan 25, 2013 7:17am Jan 25, 2013 7:17am
Quoting Starry
Hey, im waiting for that too. Do you ever find that you keep deleting potential PRZs? or, once a prz is defined, do you always keep it up on your chart?
Once it has done it's duty I delete it and sometimes it gets redrawn depending on what price does. I like clean charts so I tend to delete lots of things.
If you fail to plan, you plan to fail.
  • #2,123
  • Jan 25, 2013 7:24am Jan 25, 2013 7:24am
Quoting Starry
Also, how do you scale your ninja charts? The price is at the very top of my screen, while yours has some space at the top.
Go to the price scale on the far right, with the mouse over the scale you click the mouse and contract the bars. If you do not want to contract and just want to scroll the chart with the mouse over the price scale press control on your key board and you can scroll up or down while it is pressed. sounds complicated but it's not.
If you fail to plan, you plan to fail.
  • #2,124
  • Jan 25, 2013 7:43am Jan 25, 2013 7:43am
Quoting Mr. Pip
Go to the price scale on the far right, with the mouse over the scale you click the mouse and contract the bars. If you do not want to contract and just want to scroll the chart with the mouse over the price scale press control on your key board and you can scroll up or down while it is pressed. sounds complicated but it's not.
thanks, thats perfect! much better
  • #2,125
  • Jan 25, 2013 7:46am Jan 25, 2013 7:46am
watching this prz.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_1_25_watch_prz.jpg Size: 134 KB
  • #2,126
  • Jan 25, 2013 7:47am Jan 25, 2013 7:47am
Quoting jb19
@Mr. Pip

i had a similar set-up on the GY earlier today, but got stopped out 0,8 pips before it reversed, how do you place your stops?
http://s8.postimage.org/ukl0g4yol/gpyyen1min.png (http://postimage.org/image/emcaq04gh/full/) [url=http://postimage.org/]

and how would you place stops on the EU trade?
Well there are some considerations you have take into account. This pair has a lot of volatility and tight stops will work against you. you have to place it where you know you are wrong. with this pair I would recommend that if your PRZ includes the 161 ext. that you place your stop a couple of pips past the 200 ext if your PRZ includes the the 138 and not past that you place it on the other side of the 161 by a couple of pips. Do some testing and see how it works out prior to any risk of captiol.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPJPY (1 Min) 1_25_2013.jpg Size: 117 KB
If you fail to plan, you plan to fail.
  • #2,127
  • Jan 25, 2013 7:50am Jan 25, 2013 7:50am
Quoting Starry
watching this prz.

Attachment
Also watching the prz below it. probably wont trade the prz above it.


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_prz_watch2.jpg Size: 157 KB
  • #2,128
  • Jan 25, 2013 7:57am Jan 25, 2013 7:57am
Quoting Mr. Pip
Once it has done it's duty I delete it and sometimes it gets redrawn depending on what price does. I like clean charts so I tend to delete lots of things.
mr pip,
For example, would you delete this prz now since we have a leg that extends past it?

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_Delete_prz.jpg Size: 129 KB
  • #2,129
  • Jan 25, 2013 7:59am Jan 25, 2013 7:59am
Quoting Mr. Pip
Here is the spreadsheet
Thanks for the MM excel


Twinsummit
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #2,130
  • Jan 25, 2013 8:02am Jan 25, 2013 8:02am
Quoting Starry
mr pip,
For example, would you delete this prz now since we have a leg that extends past it?

Attachment
maybe update it to this?

Attached Image (click to enlarge)
Click to Enlarge Name: udpated_prz.jpg Size: 125 KB
  • #2,131
  • Jan 25, 2013 8:02am Jan 25, 2013 8:02am
Quoting Mr. Pip
http://www.forexfactory.com/attachment.php?attachmentid=1124020&d=1359128933
Should we not use this low

http://img832.imageshack.us/img832/9383/delwq.png
  • #2,132
  • Jan 25, 2013 8:46am Jan 25, 2013 8:46am
Quoting Starry
mr pip,
For example, would you delete this prz now since we have a leg that extends past it?

Attachment
Which one you have a few on there? Look at mine came within 2 pips of my entry and reversed. It happens
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_25_2013.jpg Size: 110 KB
If you fail to plan, you plan to fail.
  • #2,133
  • Jan 25, 2013 8:50am Jan 25, 2013 8:50am
Quoting zola320
Should we not use this low

http://img832.imageshack.us/img832/9383/delwq.png
You can use that low to add some confluence if you wanted to.
If you fail to plan, you plan to fail.
  • #2,134
  • Jan 25, 2013 8:51am Jan 25, 2013 8:51am
Quoting Mr. Pip
It was an agressive C buy opportunity of a smaller ABCD with major comfluence. Well done! Perhaps you didn't see this but hopefully now you will.
Pardon my ignorance but how is this an aggressive C buy? The retrace stopped before 61 and didn't touch it. Shouldn't it at least retrace till 61 for a C?
  • #2,135
  • Jan 25, 2013 8:52am Jan 25, 2013 8:52am
Quoting Mr. Pip
Which one you have a few on there? Look at mine came within 2 pips of my entry and reversed. It happens
What i mean is, would you have displaced the leg as shown in the picture to move the prz higher? Since the leg poked outsize of your prz?

edit: unless you only use impulse legs that have a retracement to the 61% line.

Attached Image (click to enlarge)
Click to Enlarge Name: prz2.jpg Size: 136 KB
  • #2,136
  • Jan 25, 2013 9:01am Jan 25, 2013 9:01am
Alright, good day. Traded for 4 hours and analyzed for 1 hour. Keepp this up and i will have many screen hours for this technique. See you later!
  • #2,137
  • Jan 25, 2013 9:03am Jan 25, 2013 9:03am
Quoting forextrader9
Pardon my ignorance but how is this an aggressive C buy? The retrace stopped before 61 and didn't touch it. Shouldn't it at least retrace till 61 for a C?
Take a look a my chart
Attached Image (click to enlarge)
Click to Enlarge Name: $EURJPY (240 Min) 1_25_2013.jpg Size: 98 KB
If you fail to plan, you plan to fail.
  • #2,138
  • Jan 25, 2013 9:11am Jan 25, 2013 9:11am
Quoting Mr. Pip
Take a look a my chart
ok got you, thanks. The smaller swing touched 76 but didn't close below it. Thanks.
  • #2,139
  • Jan 25, 2013 9:12am Jan 25, 2013 9:12am
Quoting Starry
What i mean is, would you have displaced the leg as shown in the picture to move the prz higher? Since the leg poked outsize of your prz?

edit: unless you only use impulse legs that have a retracement to the 61% line.

Attachment
These are the swings I considered and the ext of those.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (1 Min) 1_25_2013.jpg Size: 86 KB
If you fail to plan, you plan to fail.
  • #2,140
  • Jan 25, 2013 9:15am Jan 25, 2013 9:15am
Quoting forextrader9
ok got you, thanks. The smaller swing touched 76 but didn't close below it. Thanks.
It is not suppose to close below the 78.6 this invalidates everything. Why do you use 76?
If you fail to plan, you plan to fail.
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