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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

  • #2,141
  • Jan 25, 2013 11:21am Jan 25, 2013 11:21am
Quoting Mr. Pip
These are the swings I considered and the ext of those.
k thanks.
  • #2,142
  • Jan 25, 2013 12:11pm Jan 25, 2013 12:11pm
successful harmonics is much harder than i thought, because even just choosing main and dominant there are so many przs too choose from, if not defined carefully .
  • #2,143
  • Jan 25, 2013 12:12pm Jan 25, 2013 12:12pm
Had time to look around the charts before the market closed and ran across a potential Bullish Bat. Are my eyes on target? Have a good weekend everyone.
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Empower Your Mind
  • #2,144
  • Jan 25, 2013 12:15pm Jan 25, 2013 12:15pm
Quoting Starry
successful harmonics is much harder than i thought, because even just choosing main and dominant there are so many przs too choose from, if not defined carefully .
For example, this is a short i traded. I was like, small harmonics leading into the 50% retracement, perfect!. but no, it had to pierce through it. What did i do wrong here? i ignored the large impulse before, which would've pierced my prz?

And i didn't take the 61.8 aggressive C for some reason.

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  • #2,145
  • Jan 25, 2013 2:12pm Jan 25, 2013 2:12pm
Quoting Starry
For example, this is a short i traded. I was like, small harmonics leading into the 50% retracement, perfect!. but no, it had to pierce through it. What did i do wrong here? i ignored the large impulse before, which would've pierced my prz?

And i didn't take the 61.8 aggressive C for some reason.

Attachment
IMHO the swings your drawing on are to small to consider. 1st = 14 pips, 2nd = 11, 3rd = 10.
It makes your TP and SL to small. My personnel requirement is at least 15 pips.
Also the 1st two closed below 78 so not valid.
I was trading the same chart and never even considered those swings.
Barry
  • #2,146
  • Jan 25, 2013 2:33pm Jan 25, 2013 2:33pm
Quoting Bary
IMHO the swings your drawing on are to small to consider. 1st = 14 pips, 2nd = 11, 3rd = 10.
It makes your TP and SL to small. My personnel requirement is at least 15 pips.
Also the 1st two closed below 78 so not valid.
I was trading the same chart and never even considered those swings.
Thanks, that makes sense, theyre too small. I guess i was trying to let smaller harmonicslead me into the retracements of the bigger swing, but i guess that wont work, though it is interesting that it sort of reacted. But why does closing below the 78 make it invalid (for confluence)? I must have missed that, for example in a bat, it goes to the 78.6 line.
  • #2,147
  • Jan 25, 2013 3:01pm Jan 25, 2013 3:01pm
Hi Mr.Pip

One more addition to your long and growing list of Admirers....Hope a layman as me will get to learn much around...Thanks for the thread...

Irfan
  • #2,148
  • Jan 25, 2013 3:20pm Jan 25, 2013 3:20pm
Quoting Mr. Pip
It is not suppose to close below the 78.6 this invalidates everything. Why do you use 76?
I am sorry, I meant 78.6.
  • #2,149
  • Jan 25, 2013 4:51pm Jan 25, 2013 4:51pm
Quoting Bary
IMHO the swings your drawing on are to small to consider. 1st = 14 pips, 2nd = 11, 3rd = 10.
It makes your TP and SL to small. My personnel requirement is at least 15 pips.
Also the 1st two closed below 78 so not valid.
I was trading the same chart and never even considered those swings.
Nice Job Barry, in addition to this you didn't take a step back to see if you missed anything. Take the time to find the main and dominant swing. It will simplify everything.
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If you fail to plan, you plan to fail.
  • #2,150
  • Jan 25, 2013 4:53pm Jan 25, 2013 4:53pm
Quoting shirfan99
Hi Mr.Pip

One more addition to your long and growing list of Admirers....Hope a layman as me will get to learn much around...Thanks for the thread...

Irfan
Good to have you.
If you fail to plan, you plan to fail.
  • #2,151
  • Jan 25, 2013 4:55pm Jan 25, 2013 4:55pm
Quoting Starry
Thanks, that makes sense, theyre too small. I guess i was trying to let smaller harmonicslead me into the retracements of the bigger swing, but i guess that wont work, though it is interesting that it sort of reacted. But why does closing below the 78 make it invalid (for confluence)? I must have missed that, for example in a bat, it goes to the 78.6 line.
You're right about the confluence. I was just thinking of the ABCD would be invalid. Using the harmonic from the pattern is correct.
Barry
  • #2,152
  • Jan 25, 2013 5:03pm Jan 25, 2013 5:03pm
Quoting Mr. Pip
Nice Job Barry, in addition to this you didn't take a step back to see if you missed anything. Take the time to find the main and dominant swing. It will simplify everything.
makes sense. i will keep this in mind on monday
  • #2,153
  • Jan 25, 2013 6:02pm Jan 25, 2013 6:02pm
Quoting Bary
You're right about the confluence. I was just thinking of the ABCD would be invalid. Using the harmonic from the pattern is correct.
How are you doing with harmonics, if you dont mind me asking?
  • #2,154
  • Jan 25, 2013 7:40pm Jan 25, 2013 7:40pm
Hey guys, I know you are much more forward than I! Therefore, I needed your view!
EUR_USD 1 Day
Thanks!

I take this opportunity of thanking Mr. Pip, because I have done done several trades a day! Thing would not happen if not for what I have learned here!

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  • #2,155
  • Jan 25, 2013 7:52pm Jan 25, 2013 7:52pm
Quoting Mr. Pip
I use the smooth ratio MM system I posted it is based not on %. This is a much superior formula which gives you the best of both worlds, maximum protection when needed and excellent growth.
thanks
  • #2,156
  • Jan 25, 2013 8:53pm Jan 25, 2013 8:53pm
Mr Pip ,
This AB=CD only just touches the 38.2, would you see this as a valid set up, Is it a trade you would consider, does the retracement level indicate more bearish strength and less likely to reverse, I like the confluence , the only thing I don't see is structure and question that if price action shows an entry at this PRZ where to put my stop?

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  • #2,157
  • Edited 9:24pm Jan 25, 2013 9:02pm | Edited 9:24pm
could be lower.... she just broke potential support and trying to break another support ( potential B ) again. could be seen clearly in your chart

better seeing a whole not one leg/partially only


time will tell

* no straight line ... just jump after clear rejection ( clear support/ resistant ) not based on ratio only......... or just wanna sl hunter only in PRZ
Quoting Damien1881
Mr Pip ,
This AB=CD only just touches the 38.2, would you see this as a valid set up, Is it a trade you would consider, does the retracement level indicate more bearish strength and less likely to reverse, I like the confluence , the only thing I don't see is structure and question that if price action shows an entry at this PRZ where to put my stop?

Attachment
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not euphoria follower
  • #2,158
  • Jan 25, 2013 9:39pm Jan 25, 2013 9:39pm
Quoting iqyu5an
could be lower.... she just broke potential support and trying to break another support ( potential B ) again. could be seen clearly in your chart

better seeing a whole not one leg/partially only


time will tell

* no straight line ... just jump after clear rejection ( clear support/ resistant ) not based on ratio only......... or just wanna sl hunter only in PRZ
Couldnt agree more
.
  • #2,159
  • Jan 25, 2013 9:49pm Jan 25, 2013 9:49pm
Quoting iqyu5an
could be lower.... she just broke potential support and trying to break another support ( potential B ) again. could be seen clearly in your chart

better seeing a whole not one leg/partially only


time will tell

* no straight line ... just jump after clear rejection ( clear support/ resistant ) not based on ratio only......... or just wanna sl hunter only in PRZ
Thanks Igyu5an,
I didn't even look at that but instead a potential reversal to continue the direction of the trend (going with longer term order flow).
  • #2,160
  • Jan 25, 2013 10:31pm Jan 25, 2013 10:31pm
Quoting Mr. Pip
http://www.youtube.com/watch?v=aMupwIOLRgk&feature=player_embedded#!
Hello Mr. Pip, pardon me if this is already covered. In this video, at about 13:07, you say it is a ABCD pattern. How can it be one when price went all the way up above A before it crossed B in it's retracement? It bounced off below 76.8, came down and again went all the way up before crossing the B. So technically, it closed above 76.8 on it's retracement. Thank you.
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