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Ratios & Harmonics: a Different Way to Trade

  • #5,841
  • Dec 11, 2013 11:33pm Dec 11, 2013 11:33pm
Quoting horuxito
{quote} Well, it's very clear what is going on (asuming your chart is not monthly but M15). The bulls reached a supply area with acceleration and the bears took over and the bulls were not willing to fight that battle anymore. The supply acted as a very strong resistance level. If you zoom in your picture a little to weekly you will see that you almost had a perfect gartley, but since BC was not perfect, the all you could expect was a AB=CD, however you needed price reaching at least the 138.2% extension when you were going from the 50% retracement....
Yes. Pattern shows us that there is bearish zone. But Mr. Pip also told to keep eyes on PA. And see what happened to PA immediately after PRZ. Candles ABCD closed above 50% of itself. So, what does this mean ? Should we keep selling even the PA of candles A B C D are indicating bulls power ?
-milkeyway
  • #5,842
  • Dec 11, 2013 11:43pm Dec 11, 2013 11:43pm
Quoting kumaramy
{quote} Ok. If you want me to see lower time frame then see this. This is 1 hr AUDCHF. Candle b closed above 50% of itself. Candle a closed above 50% of itself this means bulls are active more than bears. But after candle a see what happened. So, how to get rid of this type of price action this is my question. No matter what timeframe is it. {image}
What is your price action reading edge?

We all need to find one.

Sometimes you are not going to get that PA reading in the chart you are taking the trade. You just will see a huge bear candle followed by a huge bullish candle, and the pattern guess what, worked. But to had read the PA you needed to zoom in the action a little.

Read my signature, it says "Time does not exist".

Mr. Pip for example he uses 233 tick charts, because he is more interested in what the price is telling him in moments of great volume.

I don't trade volume charts but my edge is volatility, this means that I'm only interested in how price is changing. I personally don't care about time, it doesn't make any difference in my trading. If I have great volatility I will get a lot of bars in 1 hour whilst I'll maybe get only 1 during 4 hours when price isn't moving.

There is not one right way or perfect way but you need to find one that gives you an edge. Okay, if you want to read price action, why don't you see what's going on in the micro structure of time, say M15 or even M5. Or why don't you get rid of time and play with Tick charts or Range Bars Charts?

I presented one nice chart some minutes ago and I will post it again and then compare it with the same one but using H1. Now you tell me if I have an edge or not. I use range bars charts.

H1 chart:

Attached Image (click to enlarge)
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Range Bars Chart: (nice patterns, everything in order, nice price action reading)

Attached Image (click to enlarge)
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I don't promote any charts in particular, but if you are interested about volatily bars maybe you'd like this video:

http://www.youtube.com/watch?v=lX4TMom0E88
Best time to plant a tree was 20 years ago, second best is now
  • #5,843
  • Dec 12, 2013 12:21am Dec 12, 2013 12:21am
Ok, the barrier of the multi-year highs in the EURUSD has been broken with price reaching 1.3810.

The bulls are in control. The asian session rejected that high but with price still trying to push higher. Right now is consolidated in a strong supply area (red rectangle) trading at the 618-786 of the most recent dominant swing. Will price break that high and push to 1.3825 or will we see a bullish reaction until price gets to 1.3762? These are the questions right now in an attempt to read what's happening from a harmonic stand point.

Attached Image (click to enlarge)
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Best time to plant a tree was 20 years ago, second best is now
  • #5,844
  • Dec 12, 2013 12:45am Dec 12, 2013 12:45am
Gday people, waiting for london to wake up with this one..
Attached Image (click to enlarge)
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Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,845
  • Dec 12, 2013 12:50am Dec 12, 2013 12:50am
Quoting headfake
Gday people, waiting for london to wake up with this one..{image}
I am with bears right now.
-milkeyway
  • #5,846
  • Dec 12, 2013 12:58am Dec 12, 2013 12:58am
Quoting kumaramy
{quote} I am with bears right now.
where are you short from?
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,847
  • Dec 12, 2013 1:09am Dec 12, 2013 1:09am
Quoting headfake
{quote} where are you short from?
Technically we should short from 1.6436. I am not short from that higer area. I am short from 6360 and it is very risky. The trade is in DEMO.
-milkeyway
  • #5,848
  • Dec 12, 2013 1:11am Dec 12, 2013 1:11am
im long at 1.6366
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,849
  • Dec 12, 2013 1:12am Dec 12, 2013 1:12am
Quoting headfake
im long at 1.6366

Yes. Last 4 candles of 1hr time frame are with you.
-milkeyway
  • #5,850
  • Dec 12, 2013 1:18am Dec 12, 2013 1:18am
get past 6370 we're rockin
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,851
  • Dec 12, 2013 1:20am Dec 12, 2013 1:20am
Quoting headfake
get past 6370 we're rockin
I am waiting for 4 hrs candle confirmation. Price is @ 61% fib.
Attached Image (click to enlarge)
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-milkeyway
  • #5,852
  • Dec 12, 2013 1:22am Dec 12, 2013 1:22am
Quoting kumaramy
{quote} I am waiting for 4 hrs candle confirmation. Price is @ 61% fib.
not sure were your coming from can u post a chart
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,853
  • Dec 12, 2013 1:28am Dec 12, 2013 1:28am
Quoting kumaramy
{quote} I am waiting for 4 hrs candle confirmation. Price is @ 61% fib. {image}

what for long or short?
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,854
  • Dec 12, 2013 1:33am Dec 12, 2013 1:33am
Quoting headfake
{quote} what for long or short?
For long

1] Fibo. Retracement
2] Price action. (Earlier Candles behavior i.e. high, low close, rejection. bulls bears Battle)
3] Harmonic pattern (swing Ratio)
-milkeyway
  • #5,855
  • Dec 12, 2013 1:41am Dec 12, 2013 1:41am
Quoting kumaramy
{quote} For long 1] Fibo. Retracement 2] Price action. (Earlier Candles behavior i.e. high, low close, rejection. bulls bears Battle) 3] Harmonic pattern (swing Ratio)

make ur freaking mind up
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,856
  • Dec 12, 2013 1:54am Dec 12, 2013 1:54am
Quoting headfake
im long at 1.6366
made the 38 retrace stop is at BE currently +25
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,857
  • Dec 12, 2013 2:00am Dec 12, 2013 2:00am
now 1.6400 is next barrier to get past looking pretty strong currently
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,858
  • Dec 12, 2013 2:11am Dec 12, 2013 2:11am
closed trade 1.6414 +45
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,859
  • Dec 12, 2013 2:16am Dec 12, 2013 2:16am
Quoting Mr. Pip
Great job guys had to step away for a bit and now again. I will work on that video later today lots going on here right now just an update on that Bat still in and down lets see if we can get a nice rejection off of the 1.3800 on the retest. We have made a NSH overall which is not good but we will see what plays out.
im exicited to see the video
  • #5,860
  • Dec 12, 2013 2:40am Dec 12, 2013 2:40am
Quoting headfake
Gday people, waiting for london to wake up with this one..{image}
Attached Image (click to enlarge)
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Never said I was Batman,all I'm saying is you'll never see us together.
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