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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

  • #2,621
  • Feb 5, 2013 6:38pm Feb 5, 2013 6:38pm
I switched to a M1 chart and ended up chancing a short at 1.03983

I wasn't confident as I HAD tried to predict instead of waiting for confirmation.
when the big drop occurred I panicked and closed @ 1.03801.

I obviously closed early but am happy that it didn't shoot up instead of down.

Now to try and plot the PRZ

cheers
Attached Image (click to enlarge)
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  • #2,622
  • Feb 5, 2013 8:01pm Feb 5, 2013 8:01pm
Quoting Starry
haha it all has a structure I want to know how structure can bias how i trade, because i still think choosing which leg is dominant vs main is rather subjective, so i hope to make this more objective with harmonic elliots counts! the irony. i console myself with the fact that its fun and i do keep a journal of all my thoughts (and thus mistakes and successes)

So => Insteaad of dominant/main legs, i plan to use harmonic elliot structures. I know, i wouldnt know if it works if i only trade for a day, but thats ok as its interesting and i do...

It is quite normal to jump around from one system to another, and enhance a system, when a person is still a beginner trader or demo trader or just not doing that well at trading.

There are other threads that combines Elliot Wave and Harmonic that would be more appropriate to do such posting there.
EW is an interesting topic.

For this thread, just keep the charts and posts that is relevant showing cleaner Ratios & Harmonics.

You will see later on that the trading rules posted here by Mr. Pip is rather robust and useful for your trading especially in using just the simple Main Swing and Dominant Swing as a guideline .
  • #2,623
  • Feb 5, 2013 8:06pm Feb 5, 2013 8:06pm
Quoting mm3934
I switched to a M1 chart and ended up chancing a short at 1.03983

I wasn't confident as I HAD tried to predict instead of waiting for confirmation.
when the big drop occurred I panicked and closed @ 1.03801.

I obviously closed early but am happy that it didn't shoot up instead of down.

Now to try and plot the PRZ

cheers
I was looking for a Crab to form... I haven't taken the long because only the BC projection was tested.

If it had made the XA or 1.618AB = CD then I would have been happier.

Let's see where it goes
Attached Image (click to enlarge)
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  • #2,624
  • Feb 5, 2013 8:21pm Feb 5, 2013 8:21pm
Can everyone see clearly where is the Main Swing for EUR/USD M15 for Tue 5-Feb-2013?

Is that Main Swing in the Busy Active session?

Is that Main Swing the Lowest Low and the Highest High at that point of time for that day?

Is it Objective enough how to identify the Main Swing?

Is it possible that you trade a pattern after the Main Swing and the trade can still hit your Stop Loss?

Is it possible that you trade a pattern after a pattern after the Main Swing and the trade can also hit your Take Profit?

What pattern within this Main Swing would you like to take?


From the Chart, everyone can clearly see the Main Swing is Up for the day.
The ideal ABC-Long, entering at C-Point is around 1.3505, marked by the Blue circles, which happened to coincide with the 61.8%.

Now you refer back to the Word document "Advance Pattern Reference Guide", and see that the ABCD-pattern coincides also with C-point at 61.8%.
Wow Amazing, right ??

Did I take that the Long at C-point at 61.8%?
No, because I was waiting for a further retracement to around 78.6% and 88.6%. I missed out on the entry!!

Did I take any Long?
Yes, I took a Long earlier on at the Red Up Arrow (around 1.349x) due to Reversal Ratio and Price Action, and exit at the Red Tick (around 1.359x) for 100-pips profit.

This is an objective way of looking at the Main Swing, even though I choose not to take the 61.8% entry.


Hope more others will still post their charts.


Attached Image (click to enlarge)
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  • #2,625
  • Feb 5, 2013 11:06pm Feb 5, 2013 11:06pm
Hello all,
could someone please comment on this EU H1 chart

I believe I have plotted correctly and identified a possible Bearish Bat

As price has consolidated for quite a period is it still a valid pattern even though it now looks messy?

thanks for any advice

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_USD_Hourly_snapshot.png Size: 63 KB
  • #2,626
  • Feb 5, 2013 11:50pm Feb 5, 2013 11:50pm
Quoting profitpips
I've been reading this thread but I'm still quite unfamiliar with harmonics so apologies for asking such a basic question which probably is already discussed, but where do you put your stoploss in butterfly and crab patterns?
This is how I do it , you may want to do your own testing, I look left and put it above any previous structure I can find, if there's structure but it gives me an inverted risk to reward I don't take the trade. If there's no structure I then use a 2 times ATR (7 period) stop.
  • #2,627
  • Feb 6, 2013 4:52am Feb 6, 2013 4:52am
Bat on EurUsd, TP hit for 10 pips
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  • #2,628
  • Feb 6, 2013 7:12am Feb 6, 2013 7:12am
Missed this great opportunity because i got stopped out at be, and i was like surely itll still go up!
lol

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  • #2,629
  • Feb 6, 2013 7:24am Feb 6, 2013 7:24am
Quoting iceman777
I can attach a pdf with some of his charts but once you know the rules of engagement his visuals provide much needed information. Also, check him out on youtube by searching his username, DCASTFX.

I hope this helps anyone looking to be organized. I can't click a button before I have a plan in place and the things that Mr. Pip has provided we are all forever indebted to.
Thanks a Lot Iceman,

I also have to "fight" with my time to follow up and what you did here was a ver good Idea and help !
  • #2,630
  • Feb 6, 2013 8:00am Feb 6, 2013 8:00am
Harmonics




http://www.youtube.com/watch?feature=endscreen&NR=1&v=DFMVdnoBHCI
  • #2,631
  • Feb 6, 2013 9:01am Feb 6, 2013 9:01am
Testing the 61.8. but ill wait for a break of the box and then a retest, with the upper part of box holding

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  • #2,632
  • Feb 6, 2013 9:06am Feb 6, 2013 9:06am
Hello Trades just popping in to say hello and that I've been real busy with life business and taxes. I hope to get back in here real soon. It is impossible for me to catch up and also see that some have started to make changes. That is really discouraging you were on a good and healthy path. this takes time to develop the skill set. I guess this is the reason many traders never master this business and so many fail. They never take the time to master the technique. The basic skills I have taken the time to show you will take where you all want to go but you have to put in the effort and master them. I'll pop in and out and hopefully next week will have more time to get things back on track if there is still intrest is the basic system.

Here are today's trades.

The first chart shows what I was looking at which got me in the first trade and the second chart is a zoomed in view of my three trades for the day.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 2_6_2013.jpg Size: 99 KB
Click to Enlarge Name: $EURUSD (233 Tick) 2_6_2013 2.jpg Size: 109 KB
If you fail to plan, you plan to fail.
  • #2,633
  • Feb 6, 2013 9:12am Feb 6, 2013 9:12am
Quoting Floyd1
Harmonics




http://www.youtube.com/watch?feature=endscreen&NR=1&v=DFMVdnoBHCI
wasn't just harmonics but confluence of 3 majors too ,,,
  • #2,634
  • Feb 6, 2013 9:21am Feb 6, 2013 9:21am
Quoting Mr. Pip
Hello Trades just popping in to say hello and that I've been real busy with life business and taxes. I hope to get back in here real soon. It is impossible for me to catch up and also see that some have started to make changes. That is really discouraging you were on a good and healthy path. this takes time to develop the skill set. I guess this is the reason many traders never master this business and so many fail. They never take the time to master the technique. The basic skills I have taken the time to show you will take where you all want to...
yes absolutely the interest is still here and can't wait for you to be back and resume your post and your journey with us to put everyone back on track,, feels like staggered sheep without their shepperd
  • #2,635
  • Feb 6, 2013 9:48am Feb 6, 2013 9:48am
Quoting Mr. Pip
Hello Trades just popping in to say hello and that I've been real busy with life business and taxes. I hope to get back in here real soon. It is impossible for me to catch up and also see that some have started to make changes. That is really discouraging you were on a good and healthy path. this takes time to develop the skill set. I guess this is the reason many traders never master this business and so many fail. They never take the time to master the technique. The basic skills I have taken the time to show you will take where you all want to...
yes definitely very interested, it helps to keep showing examples of how you trade now and then (which you do!) to keep us on track. but i also like wandering a bit...
  • #2,636
  • Feb 6, 2013 9:49am Feb 6, 2013 9:49am
Quoting Georji
yes absolutely the interest is still here and can't wait for you to be back and resume your post and your journey with us to put everyone back on track,, feels like staggered sheep without their shepperd
Agreed Buddy

I for one will be putting in the work needed to master harmonics - Elliot Waves, Indicators etc are all well and good but do not really belong in this tread
All we need is Mr Pip's tradingrules. Learn them - no matter how long it takes each individual - and all will be well
I can honestly say my trading has changed forever already
  • #2,637
  • Feb 6, 2013 10:03am Feb 6, 2013 10:03am
I think there was a good reason to take the trade, even if it was only the 50%, though ive been burned before at the 50%!

Attached Image (click to enlarge)
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  • #2,638
  • Feb 6, 2013 10:22am Feb 6, 2013 10:22am
That last CD took time to develope but is really harmonic with the previous AB swing. I would have traded that one too, althought I don't know why you are saying 50%. I think you are considering a bigger TF, which is good, but we need to place our stops considering the current TF and the ratio that made us took that trade.

Quoting Starry
I think there was a good reason to take the trade, even if it was only the 50%, though ive been burned before at the 50%!

Attachment
Best time to plant a tree was 20 years ago, second best is now
  • #2,639
  • Feb 6, 2013 10:34am Feb 6, 2013 10:34am
Quoting horuxito
That last CD took time to develope but is really harmonic with the previous AB swing. I would have traded that one too, althought I don't know why you are saying 50%. I think you are considering a bigger TF, which is good, but we need to place our stops considering the current TF and the ratio that made us took that trade.
true, i guess im considering too big a swing on the 100 tick chart, when i got burned the big swing was right next to price action.... and i shorted with a very small abcd into the 50% retracement of that swing, so this is different.
  • #2,640
  • Feb 6, 2013 10:42am Feb 6, 2013 10:42am
cant move to BE yet, cause i gotta go, will see how it does.... later
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