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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

  • #2,261
  • Jan 28, 2013 4:25am Jan 28, 2013 4:25am
butterfly...

Attached Image (click to enlarge)
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  • #2,262
  • Jan 28, 2013 4:29am Jan 28, 2013 4:29am
Giving GBP/CHF a crack at going long:

Reason:

Daily - ABCD pattern
- PA reached 1.272 fib extension of AB

30 Min - ABCD patternhttp://images.forexfactory.net/misc/thread_attach.gif
- PA reached 1.272 fib extension of AB
- Price reached 78.6 fib of previous swing

SL : 1.4552
Entry : 1.4579
Target : 1.4850 (618 fib retracement of Daily AD minus 20 pips)
Risk : 27 pips
R:R : 1:10

Am I too ambitious?

Considering to take partial profits @ completion of first ABCD pattern on 30 min chart and let the rest ride.

Whats everyones analogy on this pair?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 5 GBPCHF DAILY.PNG Size: 88 KB
  • #2,263
  • Jan 28, 2013 5:53am Jan 28, 2013 5:53am
lol. right in the morning i dreamed i had made the right analysis, and it seemed so realistic. i saw the price before me, but i knew it was fake. but guess what! lucky me, i got it look at that price bounce!
mwahhaa
k back to trading.

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  • #2,264
  • Edited 6:31am Jan 28, 2013 6:06am | Edited 6:31am
Quoting Connected
Please can you name some indi that are successful in showing these patterns if possible? thank you
indicators dont show general areas of confluence and also dont show nested patterns which lead more strength to an area of confluence. you should learn it by eye.

its also much more satisfying
  • #2,265
  • Jan 28, 2013 6:51am Jan 28, 2013 6:51am
Quoting Connected
guys any ideas on which indicators may help us see the harmonic patterns? I have ZUPv92 on my charts which seems great, also I am trying KorHarmonics at present, which isnt showing many patterns the ZUP is showing. Thanks
Believe me that after a lot of testing ,, Visual indicator ( ie; your own eyes) is the best on the market
  • #2,266
  • Edited 7:11am Jan 28, 2013 6:58am | Edited 7:11am
todays first trade, it completed 2-3 min after i opened the platform, so a nice start to the day!
http://s14.postimage.org/lmbe5k7sh/EY1min.png (http://postimage.org/image/gawhkulpp/full/)
the red line is the 50% fib of the high at 122.90 to the low, and the blue is the 61,8% of the high at 122.60 these two converges with the 1.27 ab ext. and the 1.27 ext. of BC of the ABCD and some other harmonics, plus some nice structure.
  • #2,267
  • Jan 28, 2013 8:04am Jan 28, 2013 8:04am
Still waiting for first trade at top prz....

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  • #2,268
  • Jan 28, 2013 8:05am Jan 28, 2013 8:05am
Quoting jb19
todays first trade, it completed 2-3 min after i opened the platform, so a nice start to the day!
http://s14.postimage.org/lmbe5k7sh/EY1min.png (http://postimage.org/image/gawhkulpp/full/)
the red line is the 50% fib of the high at 122.90 to the low, and the blue is the 61,8% of the high at 122.60 these two converges with the 1.27 ab ext. and the 1.27 ext. of BC of the ABCD and some other harmonics, plus some nice structure.
nice!
eurjpy is doing nicely today
  • #2,269
  • Jan 28, 2013 8:14am Jan 28, 2013 8:14am
Quoting Starry
Still waiting for first trade at top prz....

Attachment
I still don't understand why you're using 1.3424-1.3473 for Fib Ext.
Mine are at 1.3424-1.3478
Barry
  • #2,270
  • Jan 28, 2013 8:16am Jan 28, 2013 8:16am
Im still confused on how to trade main/dominant.

I thought the main was going down, so i didn't enter the up trade based on the main leg being up.

The main? is what i thought was the main leg.

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  • #2,271
  • Jan 28, 2013 8:17am Jan 28, 2013 8:17am
Attached Image (click to enlarge)
Click to Enlarge Name: HARMONIC EU - 2013.01.28.jpg Size: 195 KB
Trade what you SEE, don't trade what you FEEL. Be Smart! - (Webadoi)
  • #2,272
  • Jan 28, 2013 8:24am Jan 28, 2013 8:24am
Quoting Starry
Im still confused on how to trade main/dominant.

I thought the main was going down, so i didn't enter the up trade based on the main leg being up.

The main? is what i thought was the main leg.

Attachment

You might see clearer if you use a longer timeframe chart or a longer tick chart.

Try it out and see if there is a difference.
  • #2,273
  • Jan 28, 2013 8:31am Jan 28, 2013 8:31am
Quoting Starry
Im still confused on how to trade main/dominant.

I thought the main was going down, so i didn't enter the up trade based on the main leg being up.

The main? is what i thought was the main leg.

Attachment
If you look further back you could make a case for main swing down before the spike up.
Attached Image (click to enlarge)
Click to Enlarge Name: EU swings.jpg Size: 135 KB
Barry
  • #2,274
  • Jan 28, 2013 8:32am Jan 28, 2013 8:32am
hmm i guess. im trying to stick to just tick chart though.
  • #2,275
  • Jan 28, 2013 8:36am Jan 28, 2013 8:36am
I sincerely hope it will hit my prz go price!2.5 hours and no trade...

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  • #2,276
  • Jan 28, 2013 8:36am Jan 28, 2013 8:36am
another butterfly...

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  • #2,277
  • Jan 28, 2013 8:37am Jan 28, 2013 8:37am


Quoting foxybunny
You might see clearer if you use a longer timeframe chart or a longer tick chart.

Try it out and see if there is a difference.
not euphoria follower
  • #2,278
  • Jan 28, 2013 8:42am Jan 28, 2013 8:42am
Quoting fiovit
another butterfly...

Attachment
darn it, missed it. i was doing an extension of XA and it didn't meet specs of 127 so didnt enter.
  • #2,279
  • Jan 28, 2013 8:58am Jan 28, 2013 8:58am
Quoting fiovit
another butterfly...

Attachment
I appreciate that:

  1. We haven't covered butterflies in this thread yet; and
  2. Mr. Pip uses slightly different ratios for his formation (even though other formations could be perfectly valid in other systems)

but does that fail the 'Mr. Pip' butterfly formation? The BC leg seems too long...

  • #2,280
  • Jan 28, 2013 9:06am Jan 28, 2013 9:06am
Quoting ewgcorp
Hi Mr. Pip,


please find attached EUR/JPY 1H.

1). ENTRY: Short - at E ?? TRENDLINE (50% FIB).(EXIT/CLOSED position at 38.20% FIB)

2). TRENDLINE BREACH - long or short? i wanted short - lucky i did nto take the trade.

Thanking you for you kind guidance.
It looks like you are labeling swing highs and lows A, B, C, D, E this is not the way to identify patterns or harmonics. What you are doing is basically trading S/R which is also a safe and profitable way to trade if you have some price action experience. Look at my enty off of using your pair and timeframe from a harmonic point of view.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
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