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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

  • #2,961
  • Feb 16, 2013 11:29pm Feb 16, 2013 11:29pm
i was looking at the nzdusd chart to see what happened, here it is. ive been playing with how to utilize general confluence, using swings from the current main and dominant leg.... i really like having a black background ...

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  • #2,962
  • Feb 16, 2013 11:41pm Feb 16, 2013 11:41pm
Just looking over some charts. Here is a Bearish Butterfly on the EURUSD Daily Chart.
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Chance favors the prepared mind.
  • #2,963
  • Feb 16, 2013 11:52pm Feb 16, 2013 11:52pm
Here is another setup on the 30 minute USDJPY. A possible Long at 61.8% retrace of AB. This would be with overall order flow and would be a possible setup for either a Bearish Gartley or Bearish Crab pattern.
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Chance favors the prepared mind.
  • #2,964
  • Edited 9:47am Feb 17, 2013 9:32am | Edited 9:47am
Heres a chart of gbpjpy daily....

its all about identifying impulses which interact with major structure, and takking the appropriate extensions of them based on how it reacts, and finding confluence among important impulses....
what comes up must come down....

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  • #2,965
  • Feb 17, 2013 9:46am Feb 17, 2013 9:46am
heres a zoomed in view of gbpjpy daily.....

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  • #2,966
  • Feb 17, 2013 10:11am Feb 17, 2013 10:11am
And heres mr pips chart of 1/30, each trade. its about taking the appropriate extension of important impulses (impulses which interact with previous locally large structure/patterns and ones which price recently reacted to (say, in the previous uptrend if it is in a downtrend))

trade 1
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trade 2
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trade 3
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trade 4

edit: woops meant to say take 138-161 extension
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trade 5
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mr pips chart on 1/30
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  • #2,967
  • Feb 17, 2013 10:57am Feb 17, 2013 10:57am
Quoting CNTrader
Hey Traders. Just having a little more fun with the Big brother/Little brother scenario here on the Aud/Usd 1hr chart. Can you identify them correctly? Enjoy and may you all have another fantastic day banking pips. Enjoy and good night to all.
Hey traders here is the update on the multiple big brother little brother patterns I sent out last week. As you can see the first 2 patterns hit targets 1,2,and 3. You will notice 3 more areas of potential entries as the brown and yellow lines outline. If the patterns are not invalidated I will update targets when and if the entries above trigger. Hope you all are enjoying your weekend and may you all have another splendid week of bankable pips
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #2,968
  • Feb 17, 2013 11:41am Feb 17, 2013 11:41am
Quoting CNTrader
Hey traders here is the update on the multiple big brother little brother patterns I sent out last week. As you can see the first 2 patterns hit targets 1,2,and 3. You will notice 3 more areas of potential entries as the brown and yellow lines outline. If the patterns are not invalidated I will update targets when and if the entries above trigger. Hope you all are enjoying your weekend and may you all have another splendid week of bankable pips
Nice work.
How are you calculating your 3 targets?
  • #2,969
  • Feb 17, 2013 7:31pm Feb 17, 2013 7:31pm
i would like to take a moment to thank mr pip. this thread and his method has opened my eyes to the beauty of harmonics as a very viable trading method. thank you, you are a truly wonderful person for taking the time to share this with us
  • #2,970
  • Feb 17, 2013 7:41pm Feb 17, 2013 7:41pm
Quoting Starry
i would like to take a moment to thank mr pip. this thread and his method has opened my eyes to the beauty of harmonics as a very viable trading method. thank you, you are a truly wonderful person for taking the time to share this with us
You are quite welcome. It's always nice to give back.
If you fail to plan, you plan to fail.
  • #2,971
  • Feb 17, 2013 7:42pm Feb 17, 2013 7:42pm
Another one I traded.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #2,972
  • Feb 17, 2013 7:43pm Feb 17, 2013 7:43pm
And another:
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #2,973
  • Feb 17, 2013 9:33pm Feb 17, 2013 9:33pm
I'm starting to do some demo trades to wrap my head around all this. But one question about stops...

This may have been answered before, but I can't find it in the thread.

I'm trading the 5 min charts - but I think I remember reading that the stop placement outlined in the ABCD rules of engagement (10 pips +- 161.8% extension) was designed for a 1 hr chart. So how many pips do you advise to use for a 5 min chart?
  • #2,974
  • Feb 17, 2013 10:50pm Feb 17, 2013 10:50pm
Quoting nomadic123
I'm starting to do some demo trades to wrap my head around all this. But one question about stops...

This may have been answered before, but I can't find it in the thread.

I'm trading the 5 min charts - but I think I remember reading that the stop placement outlined in the ABCD rules of engagement (10 pips +- 161.8% extension) was designed for a 1 hr chart. So how many pips do you advise to use for a 5 min chart?
Agree, 10 pips could be too much if you are trading the 1M or 5M chart. Some will tell you 1 pip, I use 2. But you also have to consider the spread.

This is how spread works:

Most charts present their bars at Bid price. The price line is always according to that price (if you checkbox the property to also draw the demand line you will see that is always above, at Ask).

If you take a Sell Order you Open at Bid Price, that means that every exit (SL, BE and any other TP targets) will be at Ask Price, which is the same that Bid Price plus Spread.

If you take a Buy Order (specially a pending order) you Open at Ask Price, and every exit will be at Bid (no spread calculations needed).

Conclusion:

Exits at Ask price (if you exit a Sell Order):

StopLoss and Targets = FiboLine + Spread + NumberOfPips

Exits at Bid Price (if you exit a Buy Order):

StopLoss and Targets = FiboLine + NumberOfPips
Best time to plant a tree was 20 years ago, second best is now
  • #2,975
  • Feb 17, 2013 11:00pm Feb 17, 2013 11:00pm
I want to thank Mr. Pip too.

I think is great that more people are starting to feel confident about their trading.

The truth is that just by taking a look back to the charts and videos that Mr. Pip has shared we can learn so much! Probably that's the reason why any other pattern has been presented yet. The ABCD is amazing and the Gartley is pretty much that, with the only difference that we have a previous leg XA (2 C trades before the PRZ, one less aggresive than the other ^_^).

Hope you all guys have a nice demo/real trading this week!
Best time to plant a tree was 20 years ago, second best is now
  • #2,976
  • Feb 17, 2013 11:22pm Feb 17, 2013 11:22pm
Quoting horuxito
Agree, 10 pips could be too much if you are trading the 1M or 5M chart. Some will tell you 1 pip, I use 2. But you also have to consider the spread.

This is how spread works:

Most charts present their bars at Bid price. The price line is always according to that price (if you checkbox the property to also draw the demand line you will see that is always above, at Ask).

If you take a Sell Order you Open at Bid Price, that means that every exit (SL, BE and any other TP targets) will be at Ask Price, which is the same that Bid Price plus Spread.

If...

Thanks for the help!
  • #2,977
  • Feb 17, 2013 11:25pm Feb 17, 2013 11:25pm
Ok so here is my first try at an ABCD pattern. What do you think?

Its the USD/EUR 5 min. Entered short at the red arrow for aggressive C cell - with order flow.

Did I get the ABCD part right? I marked them on the chart.
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  • #2,978
  • Feb 18, 2013 1:34am Feb 18, 2013 1:34am
How about this one?

Is this a proper ABCD? Aggressive C Cell buy.

NZD/USD 1 HR.
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  • #2,979
  • Feb 18, 2013 5:37am Feb 18, 2013 5:37am
And another one.

Am I picking these correctly?

ABCD. EUR/USD. 5m. Aggressive C Cell Buy.
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  • #2,980
  • Feb 18, 2013 5:41am Feb 18, 2013 5:41am
Mr Pip. I have a PA question on the CHY/JPY 233 tick chart. Price has closed within the 618-786 fib retracement of previous swing high and low. If we wait for price action to move up past the 50% mark of the red candle entering the aggressive C buy zone then the entry will fall outside your rules but if we don't then there wont be confirmation of strength for entry. How would you approach this trade? ...Thanks
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