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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

  • #5,361
  • Nov 29, 2013 8:56am Nov 29, 2013 8:56am
See this is how I understand harmonic strategy.

Both skyblue lines are similar length.
Both red lines are similar length
both pink lines are similar length.

EU current rate is @61% fib of main swing of 1st red line. As well as previous selling level also same. So, I am expecting EU would fall around 3670 fall until complete swing length of 2nd red line (expecting has no base). 2nd red line has potential previous buying zone. So, there is high probability that it may fall until that level with completing length of 2nd red line.

This is how I think. And it looks that there is lack of knowledge of identifying orderflow. When i would enter sell around 3670 i would not confident that it will fall because my thinking is baseless without knowledge of big players and orderflow even i can draw ab = cd. I watched video by Mr. pip about orderflow but I would need more videos from him to understand about it deeply.
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-milkeyway
  • #5,362
  • Nov 29, 2013 9:21am Nov 29, 2013 9:21am
Quoting kumaramy
{quote} 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.
.382
.5
.618
.786
.886
1.272
1.13
1.618

As an exercise to let me know you have read up on the fibs we use please tell me which one above is incorrect and please replace it with the correct one. I'm trying to help you but if you haven't read the thread I'm going to stop. Cheers.
Finally out of the shadows.
  • #5,363
  • Nov 29, 2013 9:30am Nov 29, 2013 9:30am
Quoting kumaramy
See this is how I understand harmonic strategy. Both skyblue lines are similar length. Both red lines are similar length both pink lines are similar length. EU current rate is @61% fib of main swing of 1st red line. As well as previous selling level also same. So, I am expecting EU would fall around 3670 fall until complete swing length of 2nd red line (expecting has no base). 2nd red line has potential previous buying zone. So, there is high probability that it may fall until that level with completing length of 2nd red line. This is how I think....
If you did the exercise I did on the Euro H4 chart it would help you see other things that support or don't support going short there. Look at Mr. Pip's charts and start to put in the structure and orderflow elements i.e. how is momentum changing, how is depth changing, how is projection changing and you will have more weapons in your arsenal. This takes time. I have been studying intensely since March and I'm just now starting to get the confidence in my expectations.
Finally out of the shadows.
  • #5,364
  • Nov 29, 2013 9:41am Nov 29, 2013 9:41am
Quoting gaf
{quote} .382 .5 .618 .786 .886 1.272 1.13 1.618 As an exercise to let me know you have read up on the fibs we use please tell me which one above is incorrect and please replace it with the correct one. I'm trying to help you but if you haven't read the thread I'm going to stop. Cheers.
I was missing the point . dot in level column of fib properties.

Levels :

0
0.236
0.382
0.5
0.618
1
1.618
2.618
4.236

I have these levels in my mt4.

And i think .886 is wrong one.
-milkeyway
  • #5,365
  • Nov 29, 2013 9:42am Nov 29, 2013 9:42am
Ok this is what I'm talking about. On range days I get spooked out at the boundaries. The approach always looks so strong which makes me hesitate and then I miss my trades. In this case we haven't quite gotten to the support I want to see tested. This makes me leary of a trap but we have short term orderflow changing, we have small structural arguments. we have failure to go lower after great projection.

BUT we have agressive selling into this area. We have a small range so buying at the bottom against current middle term orderflow into R overhead is risky.

The second entry is a bit difficult as now we have structure but a spike down to clean stops or to start a new leg for a breakdown of the range. We've made a tiny new structure low on decent momentum. Weighing everything at these points makes me hesitate and I have trouble sorting it out in real time. After the trade has passed I can pull up 50 reasons to take it but at the time the variables are harder to sort out.

Anyone have thoughts on how they handle this?

I know Mr. Pip sees more in these situations so I welcome schooling in ranges . Thanks all
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Finally out of the shadows.
  • #5,366
  • Nov 29, 2013 9:48am Nov 29, 2013 9:48am
Quoting kumaramy
{quote} I was missing the point . dot in level column of fib properties. Levels : 0 0.236 0.382 0.5 0.618 1 1.618 2.618 4.236 I have these levels in my mt4. And i think .886 is wrong one.
Nope but it isn't used all the time so you are correct the other one was the 1.13 we use 1.382. You can chuck the 2.618 and 4.236 along with the .236 as they will clutter up your screen. There are other patterns that use these but keep it simple for now. You will get to a point where you won't need fibs and that is very freeing. I still use them if I'm unsure. Cheers.
Finally out of the shadows.
  • #5,367
  • Nov 29, 2013 10:04am Nov 29, 2013 10:04am
Quoting gaf
{quote} Nope but it isn't used all the time so you are correct the other one was the 1.13 we use 1.382. You can chuck the 2.618 and 4.236 along with the .236 as they will clutter up your screen. There are other patterns that use these but keep it simple for now. You will get to a point where you won't need fibs and that is very freeing. I still use them if I'm unsure. Cheers.
What do you mean by chuck ? should i suppose to delete those levels ?
-milkeyway
  • #5,368
  • Nov 29, 2013 10:15am Nov 29, 2013 10:15am
Quoting kumaramy
{quote} What do you mean by chuck ? should i suppose to delete those levels ?

Yes its slang for get rid of sorry about that
Finally out of the shadows.
  • #5,369
  • Nov 29, 2013 10:49am Nov 29, 2013 10:49am
Hello Traders,

I'm my day has gotten a bit complicated today with the family. I plan on catching up later today and answer questions thanks to everyone who has chipped in to help other traders.
If you fail to plan, you plan to fail.
  • #5,370
  • Nov 29, 2013 1:52pm Nov 29, 2013 1:52pm
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Quoting headfake
{image}

Limit order didnt trigger by a pip
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,371
  • Nov 29, 2013 1:56pm Nov 29, 2013 1:56pm
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Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,372
  • Nov 29, 2013 10:44pm Nov 29, 2013 10:44pm
Quoting headfake
{image} {quote} Limit order didnt trigger by a pip
Hi

Where was your limit order set, was it at 61.8 of AB leg, I mean looking at the chart I see an entry on 61.8 pa fails to close above this structure almost forming double tops

Also I would like to thank Mr.Pip for the great video , it truly makes you open your thoughts for new way of looking at charts, convergence, projections, momentum.. etc
I Have Learned to Take Some Losses to Make Profits
  • #5,373
  • Nov 29, 2013 10:52pm Nov 29, 2013 10:52pm
Hi gaf

Heres how I interpret your chart, this is how I understand it so far, hope am correct tho

I don't have a way to view the chart you posted since I cant open ninja trader, tried too but couldn't
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I Have Learned to Take Some Losses to Make Profits
  • #5,374
  • Nov 29, 2013 11:50pm Nov 29, 2013 11:50pm
USDCHF monthly fails to break 61% fib. So as per my analysis i see @5543 as per abcd pattern. Correct me if i am doing wrong analysis. This is how I am doing with Harmonic strategy.
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-milkeyway
  • #5,375
  • Nov 30, 2013 12:51am Nov 30, 2013 12:51am
.
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-milkeyway
  • #5,376
  • Nov 30, 2013 1:50am Nov 30, 2013 1:50am
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-milkeyway
  • #5,377
  • Nov 30, 2013 3:16am Nov 30, 2013 3:16am
Quoting TheScorpS
{quote} Hi Where was your limit order set, was it at 61.8 of AB leg, I mean looking at the chart I see an entry on 61.8 pa fails to close above this structure almost forming double tops Also I would like to thank Mr.Pip for the great video , it truly makes you open your thoughts for new way of looking at charts, convergence, projections, momentum.. etc

Hi im not sure what you mean with the double tops , the arrows my limit
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Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,378
  • Edited 8:14am Nov 30, 2013 6:01am | Edited 8:14am
Quoting headfake
{quote} Hi im not sure what you mean with the double tops , the arrows my limit{image}
apology , my misunderstanding, I though you were entering the aggressive C sell of the AB leg for the completion of ABCD

Anyway , been reading the thread and I reached page 150 and saw a post by Mr.Pip and it has the same price action and order flow movement as the AUD/USD 1H chart that Mr.Pip used in the last order follow video but in this time its the 5M chart which can show how price action and harmonic movement are repeatable over and over again

Thank you Mr.Pip
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I Have Learned to Take Some Losses to Make Profits
  • #5,379
  • Nov 30, 2013 8:41am Nov 30, 2013 8:41am
Quoting headfake
{quote} Hi im not sure what you mean with the double tops , the arrows my limit{image}
I do not understand why you chose it as limit points ?.
Trading in the zone
  • #5,380
  • Nov 30, 2013 8:55am Nov 30, 2013 8:55am
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-milkeyway
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