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Ratios & Harmonics: a Different Way to Trade

  • #2,761
  • Feb 9, 2013 12:52pm Feb 9, 2013 12:52pm
Quoting Mr. Scott
Nice work, but look at 1hr chart.
hmm, see same thing. i see a crab, but that didnt make it because C was above 61.8. I see an aggressive C but i had that on my chart but the prz leads below that,s o i ignored it... and its not a butterfly, even though the mql4 indicator indicates it, because C went above 50.... though i guess it could still be valid...
  • #2,762
  • Feb 9, 2013 12:56pm Feb 9, 2013 12:56pm
[quote=Starry;6432768]Theres a confluence buy trade on the 15 minute coming up, and a possible abcd short on the 100 tick chart , depending on how far down the current mini bear impulse goes, with the possibility to take profit and then short again and let it run into the lower prz on the 15 minute chart.... I dont think i would short if it broke the blue zone in the tick chart. also, for th e100 tick chart, i would wait for it to pierce the demand zone that it will create by going to the prz, and then retest, just like in the jpy example, i think. will see how it plays out...

Hola Starry
what do you think about the 4 H setup---I understand itīs an agressive ABC buy...
Itīs beem quite a strong drop though, since the beginning of february, hard to stop that bearish momentum..
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  • #2,763
  • Feb 9, 2013 12:58pm Feb 9, 2013 12:58pm
sorry that was a EURUSD 240 min.
  • #2,764
  • Edited 6:36pm Feb 9, 2013 1:06pm | Edited 6:36pm
[quote=cuchuflito;6432786]
Quoting Starry
Theres a confluence buy trade on the 15 minute coming up, and a possible abcd short on the 100 tick chart , depending on how far down the current mini bear impulse goes, with the possibility to take profit and then short again and let it run into the lower prz on the 15 minute chart.... I dont think i would short if it broke the blue zone in the tick chart. also, for th e100 tick chart, i would wait for it to pierce the demand zone that it will create by going to the prz, and then retest, just like in the jpy example, i think....
I personally wouldnt take it, because when theres a hump of a similar size next to the B of the abcd, i usually displace it to that hump, which would project the prz below the current point. I dont know if doing this is right ..... i think its going to meet some strong demand now though

edit: personally i think the hump offset thing is wrong, but im not sure, will see how it plays out! Whats most important is the smaller harmonics lead into whatever zone you created i think
  • #2,765
  • Feb 9, 2013 1:26pm Feb 9, 2013 1:26pm
[quote=Starry;6432793]
Quoting cuchuflito
I personally wouldnt take it, because when theres a hump of a similar size next to the B of the abcd, i usually displace it to that hump, which would project the prz below the current point. I dont know if doing this is right ..... i think its going to meet some strong demand now though
Understand your point!

Check this other perspective though: in EW Terms, WC divides into 5 waves, also look at the time confluence of 0,68 and 0,786 measured from the same original Pivot.So we are at the confluence of fibos in Time and Price...itīs fascinating, the market does not read books though...and I donīt want to push anyone into a trade...just some Weekend drawings.
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  • #2,766
  • Feb 9, 2013 1:51pm Feb 9, 2013 1:51pm
[quote=cuchuflito;6432803]
Quoting Starry

Understand your point!

Check this other perspective though: in EW Terms, WC divides into 5 waves, also look at the time confluence of 0,68 and 0,786 measured from the same original Pivot.So we are at the confluence of fibos in Time and Price...itīs fascinating, the market does not read books though...and I donīt want to push anyone into a trade...just some Weekend drawings.
im actually ignoring elliot for now, but according to harmonic elliot waves, the 5 needs to atleast be a 50% extension, taken from 1 to 3 and offset to 4. Even with your labelling, it wouldnt have been met yet, and would actually fall within my lower prz. Also, since it is a retracement (we suspect), you shouldnt use an impulseive form, except in the A or C leg of a zigzag, or whatever other retracement it looks like... Ive labelled the diagram, but I really have not much experience, so its probably wrong. ill just use harmonics for now! ive done enough of these labellings and got it wrong, clearly need much more experience if i am to use mr. elliots technique, so ill stick to simpler/already in progress of learning.


also leg 4 cant pull back beyond 1.3424 (the b of leg 3), or otherwise count is wrong, maybe its a triple or something, idk !
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  • #2,767
  • Feb 9, 2013 2:01pm Feb 9, 2013 2:01pm
But i think eurusd will go up soon, it might be wise to take a good buy setup on the tick chart, and set it to BE quickly and hold it, just in case. it might get spiked out and then go up, but who k nows.....
  • #2,768
  • Feb 9, 2013 3:18pm Feb 9, 2013 3:18pm
Quoting Bary
#1) There is no such trade as an aggressive B of any pattern. Once you enter the aggressive C of the ABCD you manage it as such until you hit TP or SL. If it turns into a gartly then you’ll get stopped out of the ABCD and you wait for the gartley to complete for next possible entry.
#2) The trade management rules will guide you on what to do. Assuming you haven’t moved your stop to BE then as price retraces against you, move your target fibs to the new C point and manage accordingly.
Hope this helps.
Hi Bary
Thanks for the reply.
Sorry, my terminology "aggressive B" was totally incorrect but maybe I am misunderstanding a basic here or something. In an ABCD pattern there is no point X. Am I correct in saying this point could be either point X or point A, depending on how the pattern develops?
#2) I guess common sense, a stupid question in the first place.

Thanks again
  • #2,769
  • Feb 9, 2013 3:31pm Feb 9, 2013 3:31pm
Quoting forexhammer
Hi Bary
Thanks for the reply.
Sorry, my terminology "aggressive B" was totally incorrect but maybe I am misunderstanding a basic here or something. In an ABCD pattern there is no point X. Am I correct in saying this point could be either point X or point A, depending on how the pattern develops?
#2) I guess common sense, a stupid question in the first place.

Thanks again
yep. you start with the left, then you can get the middle, or it can morph into something like the rightmost side , which is a gartley, or it could be another 5 point pattern...

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  • #2,770
  • Feb 10, 2013 4:46am Feb 10, 2013 4:46am
Gartley -EUR/NZD
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  • #2,771
  • Feb 10, 2013 4:55am Feb 10, 2013 4:55am
mr pip,
do you find that price usually retraces before going in your favor in an aggressive c sell/buy? do you wait instead for the first break of significant supply/demand? It seems the 38.2% of the BC trade will suffocate the trade when there is nearby significant supply/demand...

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  • #2,772
  • Feb 10, 2013 5:12am Feb 10, 2013 5:12am
been reading up on trading this way.. i understand all the fib points, supply/demand, areas.. it's very hard for me to understand the rest.. but harmonics is a very intriguing idea
  • #2,773
  • Feb 10, 2013 9:17am Feb 10, 2013 9:17am
Quoting allisonmagic
been reading up on trading this way.. i understand all the fib points, supply/demand, areas.. it's very hard for me to understand the rest.. but harmonics is a very intriguing idea
which part, the patterns and confluence?
  • #2,774
  • Feb 10, 2013 9:19am Feb 10, 2013 9:19am
iceman777, thank you again for your reply and help.. and sorry for late reply .. I was away from the thread for a couple of days.. Please do you have an analysis image for butterfly pattern the ssme way like rhe bat according to Mr. Pip rules..? Thanks in advance
  • #2,775
  • Feb 10, 2013 9:34am Feb 10, 2013 9:34am
Quoting Starry
mr pip,
do you find that price usually retraces before going in your favor in an aggressive c sell/buy? do you wait instead for the first break of significant supply/demand? It seems the 38.2% of the BC trade will suffocate the trade when there is nearby significant supply/demand...

Attachment
I have seen that many times also. How close it comes to your BE stop depends on your fill price also. But unless you make your own rules for that situation, you have to stick to the existing rules. Sticking to the rules will make you more profit in the long run.
Also there are times when price hits the 38 but if you move your SL to BE it's to close to PA so I end up giving it a little room.
Each trader will have to trade the aggressive C with what ever rules they're comfortable with. Lots of experience will help!
Barry
  • #2,776
  • Feb 10, 2013 9:36am Feb 10, 2013 9:36am
Quoting allisonmagic
been reading up on trading this way.. i understand all the fib points, supply/demand, areas.. it's very hard for me to understand the rest.. but harmonics is a very intriguing idea
Review all of Mr Pips posts and charts. He does a great job with examples talking about harmonics.
Barry
  • #2,777
  • Feb 10, 2013 9:37am Feb 10, 2013 9:37am
Quoting Starry
actually, thinking about it, i would draw my prz like this. I should place the impulse leg at the top of the wick, because that has more confluence.
Attachment


perfection now to see what happens!
Attachment doesn't work....whoops got it now!
Barry
  • #2,778
  • Feb 10, 2013 9:39am Feb 10, 2013 9:39am
Quoting allisonmagic
been reading up on trading this way.. i understand all the fib points, supply/demand, areas.. it's very hard for me to understand the rest.. but harmonics is a very intriguing idea
studying his charts helped me alot. heres a pdf, with the pictures and a link to the page of each of his charts and a number at the top displaying the post number. i think i got most of them



Attached File(s)
File Type: pdf Mr Pip Charts.pdf   2.1 MB | 1,312 downloads
  • #2,779
  • Feb 10, 2013 9:41am Feb 10, 2013 9:41am
Quoting Bary
I have seen that many times also. How close it comes to your BE stop depends on your fill price also. But unless you make your own rules for that situation, you have to stick to the existing rules. Sticking to the rules will make you more profit in the long run.
Also there are times when price hits the 38 but if you move your SL to BE it's to close to PA so I end up giving it a little room.
Each trader will have to trade the aggressive C with what ever rules they're comfortable with. Lots of experience will help!
definitely, maybe if there is a significant zone, buy on the retrace or something!
  • #2,780
  • Feb 10, 2013 9:50am Feb 10, 2013 9:50am
Quoting Starry
studying his charts helped me alot. heres a pdf, with the pictures and a link to the page of each of his charts and a number at the top displaying the post number. i think i got most of them



Attachment
Good job on the PDF. It is a must for newbees and even the veterans to review once in a while.
Maybe add that to post 1.
Barry
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