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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

  • #2,781
  • Feb 10, 2013 11:49am Feb 10, 2013 11:49am
Nice Job! Thanks!



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
Best time to plant a tree was 20 years ago, second best is now
  • #2,782
  • Feb 10, 2013 12:22pm Feb 10, 2013 12:22pm
Quoting horuxito
Nice Job! Thanks!

You're welcome! I keep all my notes and journals in onenote, useful tool.
  • #2,783
  • Feb 10, 2013 1:13pm Feb 10, 2013 1:13pm
heres my view on eurusd h4, updated it, lots of confluence. perfection but it is at a swap line, so could go up a bit (or alot!)...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_h4_prz.png Size: 209 KB
  • #2,784
  • Feb 10, 2013 1:15pm Feb 10, 2013 1:15pm
Quoting Starry
which part, the patterns and confluence?

mostly recognizing patterns
  • #2,785
  • Feb 10, 2013 1:37pm Feb 10, 2013 1:37pm
Quoting allisonmagic
mostly recognizing patterns
Its useful to review the tick charts after you trade and see what patterns you missed. Rinse and repeat. It just takes some practice, i havent really made it but im getting there.... Make sure you understand simple examples first (the basic concepts), before looking at charts.
  • #2,786
  • Feb 10, 2013 1:41pm Feb 10, 2013 1:41pm
Dear Mr, Pip,

i trust you are doing well.

i was hoping you may offer some details regarding the ratios and difference between a bearish gartley vs. bat? to me these look identical. are they the same?

thanking in in advance for your kind clarification,
choose a job you love and you will never have to work a day in your life
  • #2,787
  • Feb 10, 2013 1:53pm Feb 10, 2013 1:53pm
Quoting ewgcorp
Dear Mr, Pip,

i trust you are doing well.

i was hoping you may offer some details regarding the ratios and difference between a bearish gartley vs. bat? to me these look identical. are they the same?

thanking in in advance for your kind clarification,
The ratios are different....

Take a look at the pattern guide
Attached File(s)
File Type: docx DCASTFX Advance Pattern Reference Guide.docx   609 KB | 493 downloads
  • #2,788
  • Feb 10, 2013 2:23pm Feb 10, 2013 2:23pm
Hi Starry,

thanking you for taking the time. oh, my the attachment you sent has provided so much clarification.

I truly am grateful.
choose a job you love and you will never have to work a day in your life
  • #2,789
  • Feb 10, 2013 2:50pm Feb 10, 2013 2:50pm
Some important technical considerations

There are some things that have not been discussed when establishing the Stop Loss and Take Profit whether we are Buying or Selling.

Most charts display the current BID PRICE. That means that when we draw our Fibonacci levels we are considering those bid prices. The difference between the BID and the ASK price is the spread. That's why in a Sell you could be taken out of the trade before the chart price equals the stop loss you had established or, on the other hand, you could travel beyond the take profit or other stuff like that.

When we BUY the Open Price will be ASK (Bid+Spread) and the Close Price will be BID.

When we SELL the Open Price is BID and the Close Price is ASK (Bid+Spread).

Minimum Ask price is equal to the minimum bar price (Low) plus spread.
Maximum Ask price is equal to the maximum bar price (High) plus spread.
Minimum Bid price is equal to the minimum bar price (Low).
Maximum Bid price is equal to the maximum bar price (High).

I am saying all this becasue if the chart is showing bid prices and we measure our levels with that price (bid), if we are proyecting for example a 5 pips Take Profit of a 61.8% retracement, we need to consider those 2 pips of spread, and be awared that there is only 3 net pips profit. Probably you will disregard some trades since you wouldn't cover the spread, or the risk to reward ratio wouldn't be sufficient.

You guys might manage all this correctly, but I had to review many concepts again. I hope this be helpful to some of you.

Cheers!
Best time to plant a tree was 20 years ago, second best is now
  • #2,790
  • Feb 10, 2013 7:15pm Feb 10, 2013 7:15pm
Hello Traders,

Just popping in to say hello and to show you why I do not care about news. As you can see from the chart attached the market and news respected ratios, structure, and maybe harmonics just not quite there yet. I did not take those trades I do not trade the higher timeframes but wanted to point them out. Enjoy the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (30 Min) 2_10_2013.jpg Size: 107 KB
If you fail to plan, you plan to fail.
  • #2,791
  • Feb 10, 2013 8:42pm Feb 10, 2013 8:42pm
Quoting Mr. Pip
Hello Traders,

Just popping in to say hello and to show you why I do not care about news. As you can see from the chart attached the market and news respected ratios, structure, and maybe harmonics just not quite there yet. I did not take those trades I do not trade the higher timeframes but wanted to point them out. Enjoy the chart.
hey thanks mr pip, good to see you
  • #2,792
  • Feb 10, 2013 9:29pm Feb 10, 2013 9:29pm
Hello Mr. Pip.

Good to see you. It's great what you say about not worrying too much about the news.
Best time to plant a tree was 20 years ago, second best is now
  • #2,793
  • Feb 11, 2013 1:08am Feb 11, 2013 1:08am
Quoting horuxito
Some important technical considerations

There are some things that have not been discussed when establishing the Stop Loss and Take Profit whether we are Buying or Selling.

Most charts display the current BID PRICE. That means that when we draw our Fibonacci levels we are considering those bid prices. The difference between the BID and the ASK price is the spread. That's why in a Sell you could be taken out of the trade before the chart price equals the stop loss you had established or, on the other hand, you could travel beyond...
You are right and thereīs more to that!!
for example OANDA has
OPen Ask, Open Average, Open Bid, High Average, etc...they are all hidden under Price Overlay...and they "fluctuate" (manipulation).
It gets complex, the point is you will usually see your stop being executed right away, but your Take Profit might run sometimes even a few pips and not get triggered...then come back and hit your stop...
The differences on big pairs are minor except on news times..and of course those discrepancies are always against you..Big boys own the shop
Thatīs why I saw a post from Mr. Pip saying he does it all manually...thatīs the best...lotīs of work though..
  • #2,794
  • Feb 11, 2013 4:40am Feb 11, 2013 4:40am
memorize this pattern guys, eurusd does it alot, i swear it does it atleast once on the tick chart every day!. 127-138 extension from low to a place where it is consolidating!

Attached Image (click to enlarge)
Click to Enlarge Name: 127_extension.png Size: 188 KB
  • #2,795
  • Edited 5:27am Feb 11, 2013 5:03am | Edited 5:27am
bounce from 127 extension, retest of broken blue line, goes down from there? not trading now, but ill see....
woops messed that up lol
Attached Image (click to enlarge)
Click to Enlarge Name: 127_extension_live.png Size: 159 KB

edit: price hasnt yet finished the abcd on the 30 minute, so it might go down to 1.3325 or so. im not sure if noncompleted patterns count as an argument though, im farely sure it doesn't , anyways....
  • #2,796
  • Feb 11, 2013 6:01am Feb 11, 2013 6:01am
Quoting CNTrader
GU 1hr big brother/Little brother
Update: Gbp/Usd target 3 almost attained.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 1hr.jpg Size: 87 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,797
  • Feb 11, 2013 6:05am Feb 11, 2013 6:05am
Quoting CNTrader
Here is a look at Aud/Usd big brother little brother scenario on 1hr chart. Have a wonderful day and may everyone make bank!
Here is an update to the Aud/Usd on 15m chart with a bullish Bat pattern completion
Attached Image (click to enlarge)
Click to Enlarge Name: au 15m.jpg Size: 128 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,798
  • Feb 11, 2013 7:03am Feb 11, 2013 7:03am
I really wanted instant gratification on this one. missed that it was a bat, instead of general confluence, or would've shorted higher and moved to breakeven

i am going to monitor 15 minute metatrader harmonic pattern indicator in addition to tick chart...


Attached Image (click to enlarge)
Click to Enlarge Name: short_yeah.png Size: 200 KB
  • #2,799
  • Feb 11, 2013 7:29am Feb 11, 2013 7:29am
took profit at 10 pips

Attached Image (click to enlarge)
Click to Enlarge Name: tp.png Size: 188 KB
  • #2,800
  • Feb 11, 2013 7:49am Feb 11, 2013 7:49am
Hi Starry, like you mentioned in your previous post, you could have shorted higher. At the high point there was a nice ab=cd completion and price action reversed beautifully.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 11-2-2013.jpg Size: 112 KB
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