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Ratios & Harmonics: a Different Way to Trade

  • #3,301
  • Mar 4, 2013 11:15am Mar 4, 2013 11:15am
Quoting Mr. Pip
[font=Calibri][size=3]In the chart below you can see how the market produced a new structure high (NSH). This is the market speaking to us letting us know there is weakness and intends to climb higher. The bulls were not able to capitalize on this weakness and gave the bears the time they needed to regroup. This is seen by the series of lower highs (LH) and lower lows (LL) that followed. Price then achieved a lower high (oval #1) but this correction had more strength then the previous 3 corrective swings this is a sign that the bears are weakening...
thank you excellent insight into how you view structure! )
  • #3,302
  • Mar 4, 2013 11:18am Mar 4, 2013 11:18am
Quoting Mr. Pip
[font=Calibri][size=3]In the chart below you can see how the market produced a new structure high (NSH). This is the market speaking to us letting us know there is weakness and intends to climb higher. The bulls were not able to capitalize on this weakness and gave the bears the time they needed to regroup. This is seen by the series of lower highs (LH) and lower lows (LL) that followed. Price then achieved a lower high (oval #1) but this correction had more strength then the previous 3 corrective swings this is a sign that the bears are weakening...
Thank you for this awesome post!
Finally out of the shadows.
  • #3,303
  • Mar 4, 2013 11:23am Mar 4, 2013 11:23am
SLW has now danced above the first PRZ and broken it. Suspect it will consolidate a bit, go up, and then go down further. First structure of the main leg is the purple box...

Attached Image (click to enlarge)
Click to Enlarge Name: slw.png Size: 173 KB
  • #3,304
  • Mar 4, 2013 12:33pm Mar 4, 2013 12:33pm
Next SLW PRZ:


Attached Image (click to enlarge)
Click to Enlarge Name: SLW_current.png Size: 175 KB
  • #3,305
  • Edited 2:07pm Mar 4, 2013 12:55pm | Edited 2:07pm
Hmm, on further thought, this is a better, more objecctive according to my experience with EURUSD, analysis of what just happened. An AB = CD which looks weird, that prz/fib cluster was danced in and is now broken. Next, the harmonic offset impulse + 127 extension is what it is now entering in, and i can confidently say i would not trade this ......

SLW chart
Attached Image (click to enlarge)
Click to Enlarge Name: reanalyze_SLW.png Size: 183 KB
  • #3,306
  • Mar 4, 2013 1:37pm Mar 4, 2013 1:37pm
Daily charts? My God, I wouldn't even bother in taking measurements there man. Daily prices/levels are only valuable for looking confluence with things happening right now on more current charts (5M to 1H). But hey, that's my opinion, go ahead and trade the daily! But since I've seen that you come here everyday that means that you are an intraday trader.

Today the EURUSD has been dancing a little and breaking some zones as you say. But in general, all respecting some previous lows that had been established last friday and on Jan 4. My only regret is I didn't take profit where I should when I went long @ 9 am EST and then I just saw how price went downwards against me. When price went up again I manually closed (with half the profit I should had taken 90 minutes earlier) but mostly out of emotion more than with brain.

Right now I'm waiting if price will break some structure high.

Quoting Starry
Hmm, on further thought, this is a better, more objecctive according to my experience with EURUSD, analysis of what just happened. An AB = CD which looks weird, that prz/fib cluster was danced in and is now broken. Next, the harmonic offset impulse + 127 extension is what it is now entering in, and i can confidently say i would not trade this ......

Attachment
Best time to plant a tree was 20 years ago, second best is now
  • #3,307
  • Mar 4, 2013 1:47pm Mar 4, 2013 1:47pm
Hello Mr. Pip,

It would be so great if you share your today's chart from the EURUSD (if you traded that pair of course). Today has been a zigzagging day and it'd be interesting if you show us how you approached such scenario.

Thanks in advance!
Best time to plant a tree was 20 years ago, second best is now
  • #3,308
  • Mar 4, 2013 1:50pm Mar 4, 2013 1:50pm
Here is an ABCD I took this morning on the AU, Got in a little late but it worked out. Just took off some of the position for 55 points and moved the rest to BE+. It was within 6 points of the 1st TP at the 38.2 EXT. of AD anyway.

Attached Image (click to enlarge)
Click to Enlarge Name: AU1.png Size: 55 KB


Take Care
Always Learning
  • #3,309
  • Mar 4, 2013 2:08pm Mar 4, 2013 2:08pm
Quoting horuxito
Daily charts? My God, I wouldn't even bother in taking measurements there man. Daily prices/levels are only valuable for looking confluence with things happening right now on more current charts (5M to 1H). But hey, that's my opinion, go ahead and trade the daily! But since I've seen that you come here everyday that means that you are an intraday trader.

Today the EURUSD has been dancing a little and breaking some zones as you say. But in general, all respecting some previous lows that had been established last friday and on Jan 4. My only regret...
well actually this was a stock chart, didnt mention that! didnt bother with eurusd today, just watching. SLW is going to be in my long term investment portfolio so im watching it closely, and ive been applying (in the past of course) harmonics to daily forex chart (in preparation for the moment that SLW reaches its bottom, fundamentals of other analysists seem to point to a bottom soon by march 27 at latest!), and it works fine there to ,but definitely not useful if one is trading intraday! 15 minute at most, but i haven't used that really still focusing on just ticky tick charts....
  • #3,310
  • Mar 4, 2013 2:13pm Mar 4, 2013 2:13pm
LOL, hadn't noticed it was a stock chart, sorry about that

Quoting Starry
well actually this was a stock chart, didnt mention that! didnt bother with eurusd today, just watching. SLW is going to be in my long term investment portfolio so im watching it closely, and ive been applying (in the past of course) harmonics to daily forex chart (in preparation for the moment that SLW reaches its bottom, fundamentals of other analysists seem to point to a bottom soon by march 27 at latest!), and it works fine there to ,but definitely not useful if one is trading intraday! 15 minute at most, but i haven't used that really still...
Best time to plant a tree was 20 years ago, second best is now
  • #3,311
  • Mar 4, 2013 2:20pm Mar 4, 2013 2:20pm
Quoting JayTrader
Here is an ABCD I took this morning on the AU, Got in a little late but it worked out. Just took off some of the position for 55 points and moved the rest to BE+. It was within 6 points of the 1st TP at the 38.2 EXT. of AD anyway.

Attachment

Take Care


We had that nice bullish engulfing bar in the PRZ. (AUDUSD H1 chart). Good PA.
  • #3,312
  • Mar 4, 2013 3:13pm Mar 4, 2013 3:13pm
Quoting horuxito
Hello Mr. Pip,

It would be so great if you share your today's chart from the EURUSD (if you traded that pair of course). Today has been a zigzagging day and it'd be interesting if you show us how you approached such scenario.

Thanks in advance!
I looked at the market today but stayed out as no party was commited during the time I trade. Lets see if tomorrow is any better.
If you fail to plan, you plan to fail.
  • #3,313
  • Mar 4, 2013 3:21pm Mar 4, 2013 3:21pm


Quoting Mr. Pip
I looked at the market today but stayed out as no party was commited during the time I trade. Lets see if tomorrow is any better.
Best time to plant a tree was 20 years ago, second best is now
  • #3,314
  • Mar 4, 2013 10:13pm Mar 4, 2013 10:13pm
BAT forming?
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-03-05 at 12.11.59 PM.png Size: 29 KB
  • #3,315
  • Mar 5, 2013 12:57am Mar 5, 2013 12:57am
MR Pip i was wondering what you trade mostly in time frames, do you trade 233 tick instead of trading a 5 min or 1 min time frame are the completely different, the reason i ask is my mt4 platform does not allow tick charts and i haven't got the finances to change to another broker that does therefore if I'm looking for basic abcd patterns that are quicker like on a 233 tick chart would i trade a 1min or 5min instead i think has been asked before but there are so many posts i struggled to find it,
  • #3,316
  • Mar 5, 2013 1:28am Mar 5, 2013 1:28am
Hi Everyone,

Ist time to actually post a chart. It is for AUSUSD 1 Hr Chart. Would like to know if this looks right?. I have Two D points cause not sure if it will be Gartley or ABCD yet till price reaches the first D. Then watch price to see its reaction in the first box to decide on Gartley and what to do. ie. close or let it run to the next D point. What do you all think?

Thanks to all and a big thanks to Mr. PIP.

Attached Image (click to enlarge)
Click to Enlarge Name: 05.03.13 AUSUSD.jpg Size: 266 KB
It's not about how much you make, it's about how much you don't lose
  • #3,317
  • Mar 5, 2013 2:16am Mar 5, 2013 2:16am
Quoting Mr. Pip
[font=Calibri][size=3]In the chart below you can see how the market produced a new structure high (NSH). This is the market speaking to us letting us know there is weakness and intends to climb higher. The bulls were not able to capitalize on this weakness and gave the bears the time they needed to regroup. This is seen by the series of lower highs (LH) and lower lows (LL) that followed. Price then achieved a lower high (oval #1) but this correction had more strength then the previous 3 corrective swings this is a sign that the bears are weakening...
Hi Mr. Pip,

a special thank you for your kind clarification.

Regards,
Chad
choose a job you love and you will never have to work a day in your life
  • #3,318
  • Mar 5, 2013 2:21am Mar 5, 2013 2:21am
Quoting martyhype
Hi Everyone,

Ist time to actually post a chart. It is for AUSUSD 1 Hr Chart. Would like to know if this looks right?. I have Two D points cause not sure if it will be Gartley or ABCD yet till price reaches the first D. Then watch price to see its reaction in the first box to decide on Gartley and what to do. ie. close or let it run to the next D point. What do you all think?

Thanks to all and a big thanks to Mr. PIP.

Attachment
For the moment it looks like an aggresive C
Thatīs all you have, in my humble oppinion..so far it doesnīt close beyond 78,6!
I might jump on it...
  • #3,319
  • Mar 5, 2013 2:37am Mar 5, 2013 2:37am
Thanks Cuchuflito,

Your wright. What was I talkin about Gartley for? still will need to complete C and D to become poss. Gartley. Only Agg. C. Will need to be carefull with that 78.6 Price going back up to test it again.

Well will continue observation. Thanks again though.

Quoting cuchuflito
For the moment it looks like an aggresive C
Thatīs all you have, in my humble oppinion..so far it doesnīt close beyond 78,6!
I might jump on it...
It's not about how much you make, it's about how much you don't lose
  • #3,320
  • Mar 5, 2013 2:45am Mar 5, 2013 2:45am
Quoting martyhype
Hi Everyone,

Ist time to actually post a chart. It is for AUSUSD 1 Hr Chart. Would like to know if this looks right?. I have Two D points cause not sure if it will be Gartley or ABCD yet till price reaches the first D. Then watch price to see its reaction in the first box to decide on Gartley and what to do. ie. close or let it run to the next D point. What do you all think?

Thanks to all and a big thanks to Mr. PIP.

Attachment
Ive been looking at this for a couple days i was expecting it counter against the 200 approx ema, so 61.8 to 78% of that dominant swing great chart analysis i will chasing CD leg of this as well ill post my chart within the next day or so
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