Barry
Ratios & Harmonics: a Different Way to Trade
- #2,386
- Jan 29, 2013 5:38pm Jan 29, 2013 5:38pm
- Joined Nov 2008 | Status: Trader | 2,141 Posts
thx Bary, don't know if it will get there but if it does, there's no need to think twice....
- #2,390
- Edited 7:05pm Jan 29, 2013 6:43pm | Edited 7:05pm
- | Joined Feb 2011 | Status: Trader | 1,204 Posts
Thank you Mr.pips for all of your dedication toward this thread.
i took an agressive C trade for NZDUSD 1 HR ( I only trade 1 hr)
but got sl hit. is it the right way of trading? or did I measure the wrong main trend?
(square is where i entered, and blue line is where SL was. )
Thank you once again.
Jhfx
Why did i utilize the last swing down? Because, according to the theory of harmonics, impulses are related by the fib ratios, and if you have a large swing right to the left, you should use that as a factor in confluence, since its really near current price action. If you did this prz, and then the 61.8 of the smaller swing, you would see that this prz has more confluence and is also quite near the other zone.
edit: oh yeah, and you're entry also had confluence of the 50% of the larger swing. so you did have three factors, 61.8 and 50, and structure. and im not sure if it was structure, though it did pause there before going down, the main structure was a little up there.
I dont think you did anything wrong, besides putting stop at wrong place. I dont know how my pip would handle this, but if you want tighter stops, you should look for confluence other than a simple 61.8. See chart.
Why did i utilize the last swing down? Because, according to the theory of harmonics, impulses are related by the fib ratios, and if you have a large swing right to the left, you should use that as a factor in confluence, since its really near current price action. If you did this prz, and then the 61.8 of the smaller swing, you would...
this is a hard system for me...i start my demo with $100 and got 140 and back to 75, and back to 100... 70~140 this is my range of an account...funnny
better work harder to break that 140! and not break 70...
thank you!
- #2,397
- Jan 30, 2013 2:16am Jan 30, 2013 2:16am
- Joined Nov 2008 | Status: Trader | 2,141 Posts
Talking about Steve Copan.
He was one of the first to apply the 0,886 fibo. Itīs a special number, sometimes, if you get a bounce from a 0,886, like in an agressive ABC, it tends to bounce strong and far..just play around any chart, including dayly and weekly....some of the biggest moves and crashes in the Dow history, happened often , sometimes to the pip, at a 0,886 fibo.
Also thereīs confluences of time and price, both at 0,886, they tend to be very very powerfull...:nerd:
Just some "magical stuff" here to add to the fun..
He was one of the first to apply the 0,886 fibo. Itīs a special number, sometimes, if you get a bounce from a 0,886, like in an agressive ABC, it tends to bounce strong and far..just play around any chart, including dayly and weekly....some of the biggest moves and crashes in the Dow history, happened often , sometimes to the pip, at a 0,886 fibo.
Also thereīs confluences of time and price, both at 0,886, they tend to be very very powerfull...:nerd:
Just some "magical stuff" here to add to the fun..
- #2,398
- Edited 4:16am Jan 30, 2013 2:58am | Edited 4:16am
Talking about Steve Copan.
He was one of the first to apply the 0,886 fibo. Itīs a special number, sometimes, if you get a bounce from a 0,886, like in an agressive ABC, it tends to bounce strong and far..just play around any chart, including dayly and weekly....some of the biggest moves and crashes in the Dow history, happened often , sometimes to the pip, at a 0,886 fibo.
Also thereīs confluences of time and price, both at 0,886, they tend to be very very powerfull...:nerd:
Just some "magical stuff" here to add to the fun..
Entry is a science, exit is an art.
