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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

  • #4,061
  • May 9, 2013 12:24pm May 9, 2013 12:24pm
Quoting CNTrader
Hey Traders. I Agree never want to rush a trade. Here is an update of what I'm looking at. If we can get through this LTL then we possibly have this potential bullish bat that could lead us back up to test it again. Off for the rest of the morning. Enjoy. have fun, make a great day and may we all make bank!! {image}
Target 1 attained and stops rolled to Break even on remaining. Congrats to all who participated and may we continue to make bank!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4hr.gif Size: 80 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,062
  • May 9, 2013 12:27pm May 9, 2013 12:27pm
Quoting ewgcorp
{quote} Hi CNTrader, thank you for sharing this chart your analysis is insightful and quite remarkable. i missed this completely. best wishes,
My pleasure. Sorry you missed it but there is always another trade around the corner. That's the beauty of this business!!

Enjoy, have fun, make a great day, and may we all make bank!!
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,063
  • May 9, 2013 2:48pm May 9, 2013 2:48pm
Quoting ewgcorp
{quote} Hi Mr. Pip, i am always thankful for your kind support. may i please ask why would discount the 3 drives in this time? best wishes,
Hey ewgcorp,

I'm not Mr. Pip but we only have a pattern completion here and a fib. There are a few other reasons to question this as we have powerful momentum shooting up on each drive. Where are the aggressive bulls? They may appear and rip it away but there is more confluence up in the highlighted area on Mr. Pip's chart. We really don't have any good resistance before then so with current structure pointing up it may try and test up there before it goes down (long term). Cheers.
Finally out of the shadows.
  • #4,064
  • May 9, 2013 3:02pm May 9, 2013 3:02pm
Quoting ewgcorp
{quote} Hi Mr. Pip, i am always thankful for your kind support. may i please ask why would discount the 3 drives in this time? best wishes,
I'm sorry I'm not sure I understand your question. Could you please rephrase it. Thanks.
If you fail to plan, you plan to fail.
  • #4,065
  • May 9, 2013 5:03pm May 9, 2013 5:03pm
mr pip,
what do you consider light structure? Just wondering so that i can use the terminology correctly!

would this, from today, be considered light structure? I would guess light structure is just a horizontal support/resistance line, instead of a zone, that price doesnt necessarily have to close in.

But it could also be a horizontal support/resistance line that isnt as significant, like the bottom of a range when price is approaching the range from below. For example, the light structure example you gave in this picture you posted.


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light structure today?

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your example of light structure, green horizontal line.
  • #4,066
  • May 9, 2013 6:12pm May 9, 2013 6:12pm
What you see here is what I took all last night get. Now letting the last BE run to 133.00 level which hits the overall AB leg on the money. Off to get some sleep. I got my ass handed to me Sun-Mon but made it all back on EJ and GU. I KNOW I KNOW! I plan to bleed GU dry if I play right. My Days of trading operation will be Tue-Fri. Have not quiet figured out hours yet and other business logistics. Off to bed folks as CNTRader says "may we all make bank". Until another post. take care

Edit: Target 1 should say 155 pips not 15
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Empower Your Mind
  • #4,067
  • May 9, 2013 6:34pm May 9, 2013 6:34pm
Quoting Starry
mr pip, what do you consider light structure? Just wondering so that i can use the terminology correctly! would this, from today, be considered light structure? I would guess light structure is just a horizontal support/resistance line, instead of a zone, that price doesnt necessarily have to close in. But it could also be a horizontal support/resistance line that isnt as significant, like the bottom of a range when price is approaching the range from below. For example, the light structure example you gave in this picture you posted. {image} light...
That's is correct. Nice job!
If you fail to plan, you plan to fail.
  • #4,068
  • May 9, 2013 7:44pm May 9, 2013 7:44pm
Hey Traders.... WOW I'm not even sure where to start regarding the comments on the Gbp/Usd short so to avoid getting into a pissing contest I will say just a few things and leave it at that. If you disagree feel free to ignore or put my on iggy or even post your comments I won't respond I'll just get back to trading. I mean absolutely no disrespect to anyone just telling you like I see its.

Anyway, the notion that structure or the resistance was light was just laughable to me again nothing against anyone I just had to laugh when I read it. Look there was obviously more then just a pattern and a 50% fib. The charts I posted should have definitely cleared up the bigger picture. Now don't get me wrong price can still go to higher levels like the 61.8 and test the major TL that it broke through in January to put it on track to possibly get to the 1.43 even 1.35 area. I would love to have that opportunity to fade that move at the 1.5780-90's but that's not the point. The point is that the levels on the chart we were at this morning and have been testing for days now several times without the ability to break through was and is solid structure. I challenge all of you to look at your daily and weekly chart and go back as far as 1999 if you want and look at the amount of times this area has come into play where price behavior is forced to interact with this area or zone. It offers a nice trading range that needed to be respected when the price behavior presents as it undoubtedly did. Could price still go up...absolutely but you cannot ignore the analysis that on a bigger picture price can fall and keep falling from these significant levels. That said it doesn't matter to me what it does either way so if you are biased long dont take it personal because its not. I'm gonna make bank either way. Just wanted to address the notion that I believe to be unfounded and price behavior has suggested the same today. Order flow on the day was clearly to the downside. With that said target 1 for me was attained as mentioned earlier with stops to Break Even. Will it continue....Time tells all!! Let me conclude with this. No matter what we all need to trade what we see so if you see it differently or saw it differently then I commend you for sticking to your trade plan and passing on the trade. If you missed it because another trader said they didn't like it then that should only emphasize your need to learn to be independent by doing your due diligence and study and then putting into practice what you are learning buy developing and trading your plan and becoming a Cold Blooded Assassin!! That is all I will say on the matter. I wish everyone success and good health!!.

On a side note remember this? Target 1 attained on the Gartley, Banked profit on one of the shark pattern entries and still holding the other as I said I would add at the Gartley. Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 4hr.gif Size: 68 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,069
  • Edited 10:53pm May 9, 2013 10:20pm | Edited 10:53pm
Quoting Mr. Pip
{quote} I'm sorry I'm not sure I understand your question. Could you please rephrase it. Thanks.

Hi Mr. Pip,

yes. on page 228-230 in Scots Harmonic book. he highlights ideal bearish 3 drive. which i think the chart for GBUS is a mirror image of the ideal. if i may i would like to step into your mind and understand how come you prefer to ignore such a strong pattern.

always thankful for your support.
choose a job you love and you will never have to work a day in your life
  • #4,070
  • Edited 10:53pm May 9, 2013 10:25pm | Edited 10:53pm
Quoting CNTrader
Hey Traders.... WOW I'm not even sure where to start regarding the comments on the Gbp/Usd short so to avoid getting into a pissing contest I will say just a few things and leave it at that. If you disagree feel free to ignore or put my on iggy or even post your comments I won't respond I'll just get back to trading. I mean absolutely no disrespect to anyone just telling you like I see its. Anyway, the notion that structure or the resistance was light was just laughable to me again nothing against anyone I just had to laugh when I read it. Look...
Good Morning CNTrader,

i agree with your view and as i mentioned the BAT i completely missed last time. once again thank you for the chart. ummm...i should also like to mention that previously i have been in the same situation and lost money...so i am hopeful to learn from my past mistake.

i would also like to mention that the candlesticks i also find a little difficult to master, even back in 2007 i spoke to Steve about it and at the time he was still developing candle sticks for forex. the integration of all these tools are possibly a mighty challenge.

kind regards,
choose a job you love and you will never have to work a day in your life
  • #4,071
  • Edited 10:54pm May 9, 2013 10:37pm | Edited 10:54pm
Quoting Mr. Pip
{quote} That's is correct. Nice job!
Hi Mr. Pip,

please accept my apologies for all these questions. would it be possible to have a chart example of heavy structure vs. light structure. i would be extrememly grateful to have a chance to see the difference.

how many variations/types/degrees of structure is possible?.....i hope this is not an open ended question.

best wishes,
choose a job you love and you will never have to work a day in your life
  • #4,072
  • May 10, 2013 2:33am May 10, 2013 2:33am
Quoting ewgcorp
{quote} Hi Mr. Pip, please accept my apologies for all these questions. would it be possible to have a chart example of heavy structure vs. light structure. i would be extrememly grateful to have a chance to see the difference. how many variations/types/degrees of structure is possible?.....i hope this is not an open ended question. best wishes,
you might find it useful too on how fxgroundworks does their structure ratings for each pattern
  • #4,073
  • May 10, 2013 6:10am May 10, 2013 6:10am
Quoting CNTrader
Hey Traders.... WOW I'm not even sure where to start regarding the comments on the Gbp/Usd short so to avoid getting into a pissing contest I will say just a few things and leave it at that. If you disagree feel free to ignore or put my on iggy or even post your comments I won't respond I'll just get back to trading. I mean absolutely no disrespect to anyone just telling you like I see its. Anyway, the notion that structure or the resistance was light was just laughable to me again nothing against anyone I just had to laugh when I read it. Look...
Hey CN!

No offense taken, believe me your trading skills are awesome as you have shown time and again. You guys are long term traders so I'm only stating what I saw on EW's chart. From that chart alone (I don't care if the queen of England has sold or bought 200 times to the left ) I saw better R and confluence in the upper levels on the posted chart. Now the long term abcd could fire off and complete without traveling up to the mentioned levels its very possible. A 50% retrace shows that the bulls are in control so maybe I'm completely wrong. I don't have a dog in the fight so I really don't care. I was just trying to help with the explanation of that particular chart.

I have opportunities to make bank 2-5 times a day on the frame I trade so maybe things work different with harmonics and patterns on the higher TF.

At any rate I was not offended by your comments and still think you're awesome! May we all make bank. Cheers.
Finally out of the shadows.
  • #4,074
  • May 10, 2013 6:15am May 10, 2013 6:15am
Quoting CNTrader
Hey traders, here is a look at the potential Big Picture lol. Just having some fun on the weekly chart. Have I mentioned I love this stuff?!! Enjoy!! Don't worry they already told me I was crazy when I said Usd/Jpy was going to 95's and above when it was down in the 70's. You can check my post history for that one haha. Anyway I dont have a clue whats going on lol and I dont care where it goes as long as I make bank in either direction. Make a fantastic day and may we all make bank Yeeeaaaah booooiiiii!!! {image}
Hey traders remember this? Here is an update: (disregard the words bearish bat that there from a lower time frame)

Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!!
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,075
  • May 10, 2013 6:22am May 10, 2013 6:22am
Quoting gaf
{quote} Hey CN! No offense taken, believe me your trading skills are awesome as you have shown time and again. You guys are long term traders so I'm only stating what I saw on EW's chart. From that chart alone (I don't care if the queen of England has sold or bought 200 times to the left ) I saw better R and confluence in the upper levels on the posted chart. Now the long term abcd could fire off and complete without traveling up to the mentioned levels its very possible. A 50% retrace shows that the bulls are in control so maybe I'm completely...
That's awesome Gaf glad to hear you weren't offended and it sounds like your doing some banking as well on your own
My style is trading multiple TF I have no set TF i stick to. I do however like to look at the big picture higher TF and then execute on the lower. But if i see opportunity on the lower as well I will execute like a cold blooded assassin lol. Heck I'll scalp every now and then on a 1m chart just for fun hahaha. Anyway as all I always say and this goes for everyone: Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!!
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,076
  • May 10, 2013 6:40am May 10, 2013 6:40am
Quoting CNTrader
On a side note remember this? Target 1 attained on the Gartley, Banked profit on one of the shark pattern entries and still holding the other as I said I would add at the Gartley. Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!! {image}
Target 2 attained!! Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!!
Attached Image (click to enlarge)
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Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,077
  • May 10, 2013 6:50am May 10, 2013 6:50am
Hey guys,

Little bit of bank for me today. This was a harder one for me to take as I'm still a novice trader but I forced myself to keep it until the lower high R:R about 1:1. It went much further but I'm very happy that my order execution is better than last week so I'm progressing.

Hope you all have a fantastic weekend. See you on the flip side. Cheers.
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Finally out of the shadows.
  • #4,078
  • May 10, 2013 7:21am May 10, 2013 7:21am
1, 2, 3! The magic of 3 lol
Also isnt it weird that lines defined 2 hours before can then be temporarily obeyed? I guess the market likes repeating itself....

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  • #4,079
  • May 10, 2013 7:38am May 10, 2013 7:38am
Quoting CNTrader
{quote} Target 1 attained and stops rolled to Break even on remaining. Congrats to all who participated and may we continue to make bank!! {image}
Target 2 slightly adjusted and attained. Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4hr.gif Size: 81 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #4,080
  • May 10, 2013 7:42am May 10, 2013 7:42am
Quoting gaf
Hey guys, Little bit of bank for me today. This was a harder one for me to take as I'm still a novice trader but I forced myself to keep it until the lower high R:R about 1:1. It went much further but I'm very happy that my order execution is better than last week so I'm progressing. Hope you all have a fantastic weekend. See you on the flip side. Cheers. {image}
Nice trading Gaf wtg

Hey Traders here is what I'm currently involved with on the Aud/Usd and some other areas that will have my attention keeping in mind the weekly chart opportunities I posted above. Chart should be self explanatory. Enjoy, make a great day, have fun, do your due diligence, and may we all make Bank!!

I'm done here today so everyone Make a Fantastic Weekend Too!!!
Attached Image (click to enlarge)
Click to Enlarge Name: audusd 4hr.gif Size: 107 KB
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