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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

  • #5,341
  • Nov 27, 2013 5:19pm Nov 27, 2013 5:19pm
Quoting Mr. Pip
{quote} I made a video of Nov 13 for you and all but I did not like it. I will redo it and post. It takes lots of time to make, edit and upload a video. Thanks for the patience.
Videos take forever. I used to do vids for guitar teaching; even with scripts and whiteboards it took forever to correct, render etc. Thanks so much for doing this.
Finally out of the shadows.
  • #5,342
  • Edited 6:49pm Nov 27, 2013 6:30pm | Edited 6:49pm
Quoting horuxito
Hello Mr. Pip. This week has been great. I think harmonic expectations are the best way to plan your week and intraday goals. I have incorporated some of the projections to my learning process, particularly the AB = CD's and so far so good. The H4 chart shows what my plan for the week is while the second is current intraday price action in my range bars chart. Week: {image} Day: {image} This is a work in process yet but I wanna thank you for all the great help you are providing to all of us. No matter what strategy you trade at the end you can make...
Intraday expectation met at London close for a nice 20 pip retracement to next day's pivot and 38.2% from the day's high. There's still some preasure to the downside, will wait how it ends up and will try to load my longs to continue with the week plan. My expectation is to see price playing around 1.3530/40. If it gets there and I am convinced of what's going on I'll be happy to go long and target 1.3650. We'll see.
Best time to plant a tree was 20 years ago, second best is now
  • #5,343
  • Nov 27, 2013 6:37pm Nov 27, 2013 6:37pm
Quoting gaf
{quote} Videos take forever. I used to do vids for guitar teaching; even with scripts and whiteboards it took forever to correct, render etc. Thanks so much for doing this.
I agree man. I have done a couple too and they take forever. We all should be very thankful for the time Mr. Pip takes in each of those vids and watch them over and over.

Session example:

http://www.youtube.com/watch?v=jH89gpGxkuE

AB = CD

http://www.youtube.com/watch?v=GrCdDmkJMuY

Swings identification, main and dominant:

http://www.youtube.com/watch?v=319oUEQTm_Y

Agressive C Trades:

http://www.youtube.com/watch?v=aMupwIOLRgk

Reading Price Action:

http://www.youtube.com/watch?v=9nMXyhMgj-A

Order Flow:

http://www.youtube.com/watch?v=u8eGrIvlCBQ
Best time to plant a tree was 20 years ago, second best is now
  • #5,344
  • Nov 27, 2013 6:38pm Nov 27, 2013 6:38pm
Quoting FineForex
{quote} Oh nice I didn't even notice that but I did take a short there while practicing orderflow and expectations. entered because I saw the .3600 holding price down and then a NSL followed by a Lower High giving me a bearish expectation, the next swing was confirmation. Your ABCD lined up perfectly {image}
Yes, it worked out great
Best time to plant a tree was 20 years ago, second best is now
  • #5,345
  • Nov 27, 2013 8:38pm Nov 27, 2013 8:38pm
Quoting FineForex
{quote} looking back on it now there was another one with the same length swing ! clockwork {image}
Very nice work!
If you fail to plan, you plan to fail.
  • #5,346
  • Nov 27, 2013 10:59pm Nov 27, 2013 10:59pm
superstructure. I correctly : stated the cause in LL. please give opinions MR.pips.

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Trading in the zone
  • #5,347
  • Nov 28, 2013 12:15am Nov 28, 2013 12:15am
Hello Mr. Pip.
I watched your video about PA. I would like to know that how would you face/decide the direction when this kind of consolidation happens.
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-milkeyway
  • #5,348
  • Nov 28, 2013 8:36am Nov 28, 2013 8:36am
I want to wish everyone a very Happy Thanksgiving. Whether you celebrate this special holiday or not take time to be thankful to all the people in our lives and for the things we have. I hope and wish many blessings to everyone here on FF and around the world!

I'm going to enjoy my family today. I'll be back tomorrow to answer questions and to post that video.
If you fail to plan, you plan to fail.
  • #5,349
  • Nov 28, 2013 8:49am Nov 28, 2013 8:49am
Quoting kumaramy
Hello Mr. Pip. I watched your video about PA. I would like to know that how would you face/decide the direction when this kind of consolidation happens. {image}
Hey Kumaramy!

How would you use the orderflow that was explained in the video to label short and long term orderflow on that chart? Post the chart with the New Structure Highs (NSH), New Structure Lows (NSL), HH and HL (just like on Hao's chart) and we'll see how we can keep ahead of price.

By the way I can spot a few places where I would trade that chart but we certainly can't trade all the time. Mr. Pip will probably find more but I'm a bit uncertain during ranges so often wait them out.

I was unable to find your place on the chart so I took a crappy looking consolidation and placed 3 possible trades on it. The first is garbage and I would not take it even though I know there is a chance for a deeper retrace of the long term swing. The R:R sucks, you're buying into possible Support but I have an expectation of price to go lower.

The second trade is good as its hopefully continuing long term orderflow.

The third is against overall orderflow but we have hints that short term wants to go lower and that this may be a range. Why can't the bulls push higher? Projection on the overall big swings has shrunk etc.

I'm not advocating any of these trades are good other than the one with orderflow but this exercise is to keep ahead of price. Mr. Pip may kick my ass for missing certain aspects on this chart but I want to keep things simple (I didn't label everything) and hopefully you can now take your chart, analyze it and post it for us to learn from. Listening to my views won't help you learn to have expectations. You have to do this millions of times for all sorts of charts.

I have the most difficulty at trend changes and fading ranges. They still kick my ass as I have trouble weighing whats important at these areas. For instance in my chart below we made an overall NSH and a HL but short term orderflow made a nsl on great momentum with even shorter term orderflow making a hh, hl hh. So we are expecting a possible deep pullback on the longterm orderflow, we have made a nsl on shorter term with great momentum, the smaller term orderflow had made an abcd retracement on weaker momentum stalling at structure. This is why I may consider going short here.

This took a long time to write up and I had many distractions. Hopefully my labeling is correct. You must now post your chart so that we may all learn from it.

@ Mr. Pip: I hope I didn't screw this example up. I still have problems reading choppy markets and don't trade the H4 so any insight or ass kicking for mistakes are welcome . Thanks all.
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Finally out of the shadows.
  • #5,350
  • Nov 28, 2013 9:17am Nov 28, 2013 9:17am
Quoting Mr. Pip
I want to wish everyone a very Happy Thanksgiving. Whether you celebrate this special holiday or not take time to be thankful to all the people in our lives and for the things we have. I hope and wish many blessings to everyone here on FF and around the world! I'm going to enjoy my family today. I'll be back tomorrow to answer questions and to post that video.
Happy Thanksgiving! Don't overdose on Turkey. Enjoy your family. Cheers.
Finally out of the shadows.
  • #5,351
  • Nov 28, 2013 3:28pm Nov 28, 2013 3:28pm
Quoting Mr. Pip
I want to wish everyone a very Happy Thanksgiving. Whether you celebrate this special holiday or not take time to be thankful to all the people in our lives and for the things we have. I hope and wish many blessings to everyone here on FF and around the world! I'm going to enjoy my family today. I'll be back tomorrow to answer questions and to post that video.
This thread and your time are definitely some of the things I am grateful for.

Mr. Pip bless your family and everyone else here in FF participating in this journey
  • #5,352
  • Nov 28, 2013 4:31pm Nov 28, 2013 4:31pm
Good day Mr. Pip

I'm am really interested in learning how to trade Harmonics,
i would just like to ask, is the a pre-requisite skill set or knowledge that s needed before learning from this forum?
or would i be able to understand everything as I go along ?

Thank you for making this thread, I really appreciate the opportunity

Happy trading
  • #5,353
  • Nov 28, 2013 11:17pm Nov 28, 2013 11:17pm
My stops are getting hit every time. Market also going against my position direction. I don't understand where I am doing mistake
I don't know much about following things :
Fib
Pivots.
-milkeyway
  • #5,354
  • Nov 29, 2013 1:06am Nov 29, 2013 1:06am
Quoting kumaramy
My stops are getting hit every time. Market also going against my position direction. I don't understand where I am doing mistake I don't know much about following things : Fib Pivots.
What's your stoploss size?

I see you've been posting EU H4 charts lately. As you know, EU has been extremelly bullish these days. Since the orderflow is telling you the trend is bullish you should only be taking agressive C trades (61.8 or 50.0 retracements) only in the direction of the uptrend. You might help yourself with a moving average to see that or simply trace some trendlines in your chart.

I must be honest, I've been shorting the EU this week but only after I see some AB = CD completions and I'm satisfied with the style of swing trading (extremes) that I like, I need to see some divergences going on too, but that's another story. You need to know the daily pivot and the daily support/resistance levels, because there is more likely to see a correction, and also be awared of the average daily range (for example if the EU ADR(10) is 80 pips and you are observing the rally of the day with 70 pips). If you are at a figure that satisfies you, you might trade against the trend, but only in valid price reversal zones. This takes time to master. In general you should always go in the direction of the trend.

Another thing you can do, knowing that the trend is bullish is to project every new swing starting from the most recent retracement level (see my picture). If you get many projections telling you the same story, you know there is the place where the bears are going to meet and do something. I will be a happy bear if todays price gets to 1.3640.

About pivots and S/R levels, I particularly like the Fibonnaci Zones treatment explained by Robert Krauz in his essay "High Probability Fibonacci Zones Analysis" http://www.fibonaccitrader.com/journals/FTJ14.pdf (I have attached one indicator you can use for the purpose)

See Mr. Pip's AB=CD video, that is a must.

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Attached File(s)
File Type: ex4 HPFZ.ex4   15 KB | 711 downloads
Best time to plant a tree was 20 years ago, second best is now
  • #5,355
  • Nov 29, 2013 1:21am Nov 29, 2013 1:21am
Quoting horuxito
{quote} What's your stoploss size? I see you've been posting EU H4 charts lately. As you know, EU has been extremelly bullish these days. Since the orderflow is telling you the trend is bullish you should only be taking agressive C trades (61.8 or 50.0 retracements) only in the direction of the uptrend. You might help yourself with a moving average to see that or simply trace some trendlines in your chart. I must be honest, I've been shorting the EU this week but only after I see some AB = CD completions and I'm satisfied with the style of swing...
The problem is i don't understand the order flow and where the big players moving the market.
-milkeyway
  • #5,356
  • Nov 29, 2013 7:34am Nov 29, 2013 7:34am
Quoting kumaramy
{quote} The problem is i don't understand the order flow and where the big players moving the market.
We can't help you unless you read and post some charts with your analysis. It looks like you don't want to do the studying so we can't help you until you at least understand the basic terms. Did you do the exercise on the 4H euro like I suggested? It took me a while to post my chart so before I post anything else I would like to see what you come up with to see if I can help you further. Cheers.
Finally out of the shadows.
  • #5,357
  • Edited 8:11am Nov 29, 2013 8:00am | Edited 8:11am
Quoting gaf
{quote} We can't help you unless you read and post some charts with your analysis. It looks like you don't want to do the studying so we can't help you until you at least understand the basic terms. Did you do the exercise on the 4H euro like I suggested? It took me a while to post my chart so before I post anything else I would like to see what you come up with to see if I can help you further. Cheers.
This is mt4. What numbers to put in LEVEL ?
Attached Image
-milkeyway
  • #5,358
  • Nov 29, 2013 8:11am Nov 29, 2013 8:11am
Quoting gaf
{quote} We can't help you unless you read and post some charts with your analysis. It looks like you don't want to do the studying so we can't help you until you at least understand the basic terms. Did you do the exercise on the 4H euro like I suggested? It took me a while to post my chart so before I post anything else I would like to see what you come up with to see if I can help you further. Cheers.
Along with all the videos posted by Mr. Pip, we also need knowledge of orderflow. There is no problem with understanding AB=CD. But the problem is with understanding the overflow and big players. I watched many video on youtube regarding orderflow. But still it doesn't seem that i have got something from videos about overflow. It seems i need something to understand the orderflow and that can be an experience. But don't know how much experience i will need ? And how would I track orderflow and big players. I read on many websites that big players only plays at support and resistance level. But i don't think it is sufficient information about big players and orderflow.
-milkeyway
  • #5,359
  • Nov 29, 2013 8:23am Nov 29, 2013 8:23am
Quoting kumaramy
{quote} Along with all the videos posted by Mr. Pip, we also need knowledge of orderflow. There is no problem with understanding AB=CD. But the problem is with understanding the overflow and big players. I watched many video on youtube regarding orderflow. But still it doesn't seem that i have got something from videos about overflow. It seems i need something to understand the orderflow and that can be an experience. But don't know how much experience i will need ? And how would I track orderflow and big players. I read on many websites that big...
Sorry Kumaramy, I have already told you that the videos on the web do not describe orderflow as we use it here. This not volume spread analysis, buying in demand or whatever everyone else considers orderflow. Mr. Pip has told you already what fibs to use in post 5324. You should be able to find this information many times in this thread. Please have a read and then I'll be able to help you. Until then I'm not going to be able to answer your questions as you wont' know what I'm talking about. Take your time its a really good read. Cheers.
Finally out of the shadows.
  • #5,360
  • Nov 29, 2013 8:32am Nov 29, 2013 8:32am
Quoting gaf
{quote} Sorry Kumaramy, I have already told you that the videos on the web do not describe orderflow as we use it here. This not volume spread analysis, buying in demand or whatever everyone else considers orderflow. Mr. Pip has told you already what fibs to use in post 5324. You should be able to find this information many times in this thread. Please have a read and then I'll be able to help you. Until then I'm not going to be able to answer your questions as you wont' know what I'm talking about. Take your time its a really good read. Cheers....
The levels given by mr. pip is not working correctly for my mt4. That is why considering if you are user of mt4 your will give me levels for mt4 i asked the question.
-milkeyway
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