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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

  • #5,981
  • Dec 13, 2013 10:07am Dec 13, 2013 10:07am
So LH on waning bull momentum. I'm not counting them out yet but we may see a more complex correction and a possible weaker attack on S from the bears. The bulls need to step it up or their going to lose.
Finally out of the shadows.
  • #5,982
  • Dec 13, 2013 10:18am Dec 13, 2013 10:18am
Quoting Mr. Pip
Hey trader I will explain the trades in detail later today and post them. I have to take care of some business. It is impossible to do it in real time. Talk to you all later and I hope you notice I was not looking for any patterns just ABCD which is in it's simplest form a harmonic expectation. Good trading everyone!
Excellent trades!

I just came and saw the cable had indeed a strong bearish orderflow, however you were able to capture that nice pullback to the upside
Best time to plant a tree was 20 years ago, second best is now
  • #5,983
  • Edited 12:26pm Dec 13, 2013 10:23am | Edited 12:26pm
Only one trade to finish the week.

I had only been looking for shorts - Mr. Pip's successful long caught me by surprise. Unfortunately, the short I was waiting for turned up when I wasn't at the keyboard!!

I held the trade for longer than Mr. Pip. In which case, it was probably more luck than skill that it played out in my favour! Looking forward to seeing Mr. Pip's explanations for his trades.
Attached Image (click to enlarge)
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  • #5,984
  • Dec 13, 2013 10:28am Dec 13, 2013 10:28am
Ok bulls are still hanging on but volume has dried up. Time for lunch and school prep. Having missed the initial moves up. There are only 3 trades that I would have considered. The overall agro C @9:00 which was aggressive and was against current orderflow and expectations so likely a pass for me. The second was the 10:00 long which was against orderflow but @ a possible strong support and with previous orderflow up and ab=cd correction. There was one @10:49 test of S as it had a small nsh and I was expecting a bounce but the momentum into the test was strong so I probably would have passed this one as well.

Edit: we've now made a LH short term again so the bears will want to try and test S. Have a great weekend all! Cheers.
Finally out of the shadows.
  • #5,985
  • Dec 13, 2013 11:00am Dec 13, 2013 11:00am
Oh Yeah... and expectation met small overall NSH bears are fighting back!
Attached Image (click to enlarge)
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Finally out of the shadows.
  • #5,986
  • Dec 13, 2013 11:03am Dec 13, 2013 11:03am
Quoting Starry
{quote} That makes sense, the emotion is removed by forming an expectation and knowing what will happen if you're expectation is wrong or right. Then there is always a way forward. Thanks!
We'll let the heavy weights decide but for now that is my thesis and suits my scientific brain . Have a wonderful weekend!
Finally out of the shadows.
  • #5,987
  • Dec 13, 2013 11:19am Dec 13, 2013 11:19am
Hi Mr. Pip, thanks for helping us out to understand your way of trading. The last video was especially helpful...

I tried to follow the same and got it right and was able to close at +17 pips profit. I have attached the image file of AUD/USD trade i took this morning.... I hope it was not a fluke as the price had gone against my expectations and corrected deeper; only later for the price to fall... Please find attached sheet and any comments would be valuable.... I think i did well, will try another trade on Monday and see if i can get it right.

I again would like to thank your video. It was really helpful for today's trade as i didn't find myself lost on the price movements...

P.S. I still think i need to work on my entry, as my entry in this trade is not entirely convincing, but i was convinced enough to take the trade...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.png Size: 45 KB
  • #5,988
  • Dec 13, 2013 12:02pm Dec 13, 2013 12:02pm
It's late but...

Attached Image (click to enlarge)
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  • #5,989
  • Dec 13, 2013 12:41pm Dec 13, 2013 12:41pm
Hello everyone,

I see a lot of you are already using Ninja. But for those who still use MT4 I have been developing some tools that will help getting the same feel as Mr. Pip in Ninjatrader. You can go back and see my posts, you'll notice that I have borders in the retangles, and colored fibonacci levels. Anyway, that's still in development

For now I can share a tool I'm sure it will be well received. This indicator read the fibonacci objects that are present in the chart and automatically asign one different color to each of them. This is nice because you want to separate which fibo levels are reading which swing, and doing it manually is a pain.

Additionally I played a little with the descriptions so we now read 4 digits instead of 5 in these levels. This makes the mental calculations easier. At the end of the day1 pip is the 4th digit not the 5th. (and 2 instead of 3 in the case of JPY pairs)

The descriptions will look like "61.8% (1.6308)"

In my case I don't use Ninja even though I know is visually better and you can get better feeds for one reason. There are a lot of things you can code in MT4, not necessarily indicators, but some trade management tools, alerts, etc. I even have my platform talking to me. There is this nice woman voice telling me "Euro high, euro low, cable high, cable low", wheneve I get one new bar in my range bars charts

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm3.png Size: 40 KB


Enjoy!
Attached File(s)
File Type: mq4 #fibo_colors.mq4   5 KB | 468 downloads
Best time to plant a tree was 20 years ago, second best is now
  • #5,990
  • Dec 13, 2013 1:20pm Dec 13, 2013 1:20pm
Quoting kumaramy
{quote} I am currently out of ideas. I need someone expert to share examples with me. How would you find pattern in 1hr timeframe for GBPUSD at this stage of price action?
Your focus is in the wrong place. You need to forget about patterns and focus on order flow and ratio confluence areas. This is what will make everything else easier to trade.

Trying to trade these patterns without understanding the dynamics of price action or knowing how to properly read a chart is like crossing the street with your eyes close. It just doesn't work. Slow down clear your mind and start reading the chart. Have an expectation as to what should happen next. There are no shortcuts here and you do have to do your home work.
If you fail to plan, you plan to fail.
  • #5,991
  • Dec 13, 2013 1:29pm Dec 13, 2013 1:29pm
Quoting IenDzi
Wow, everywhere is harmonics, I haven't seen this earlier. The hard thing is order flow. In this moment, does order flow go down or up? What I think, in short term it is down, because of lower lows, but in longer term it is 38.2% of Fibonacci. {image} What about video, it is awesome, you need to have lots of experience to analyze market like this. This was the video, when your expectations was right. It would be interesting, how to manage trade, when expectations becomes wrong.

I posted a live trade maybe last week that I cut short because expectation changed it took the whole day of following it and having an expectation and also adjusting. Look for it go through my post and you will find it faster.
If you fail to plan, you plan to fail.
  • #5,992
  • Dec 13, 2013 1:31pm Dec 13, 2013 1:31pm
Hai Fellow traders,

good evening to you all.

I am new to this trade. Oflate, I became interested in trading Harmonics, but dont know how to proceed.

I invite your valuable suggestions on How to about trading the Harmonics.

Hope to receive guidance through you,

with warm regards,

Pandupr2
  • #5,993
  • Dec 13, 2013 1:32pm Dec 13, 2013 1:32pm
Quoting kumaramy
{quote} Very nice video Mr. Pip. Thanks. Currently due to focusing a lot on PA. I forget little bit about harmonics. I mean it is becoming difficult me to find patterns as I focused on PA. I request you if you put image with confluence daily, I can notice the repeated thing done by you each time. As per example of my Finance Account teacher, he was giving us question to write in notebook. Then, he was started solving it with telling us which item to put in which column ( debit or credit) and why to put it. So, daily he and we were solving the questions...
Hi Kumaramy

If I may make a suggestion regarding what your trying to do, you seem to be getting a bit overloaded information wise, so maybe a little exercise for next week..stay away from forums and for a few hours at least every day watch a price chart preferably 5mins tf on one currency cross.. Do this for 1 week with no outside influences.. Keep it simple and just watch the price action... do this and I guarantee a few things will click.. let us know how you get on in a week
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,994
  • Dec 13, 2013 1:33pm Dec 13, 2013 1:33pm
Quoting juliuy
{quote} I can really related to Gary's word. Thanks Gary for saying this out. I had to be seed. On my side, no words to express my appreciation for your work Mr. Pip. It feels like finally someone is really decent in Forex world. I followed the thread in the beginning, then became too busy with my new job, and now after a year I I came back to the thread, and about to finish reading it, mostly Mr. Pip's posts. Sometimes I read till 3 am at night until too tired to continue. Thank you! Julius
Really glad you're here and hope I am able to make you a better trader.
If you fail to plan, you plan to fail.
  • #5,995
  • Dec 13, 2013 1:36pm Dec 13, 2013 1:36pm
Quoting Mr. Pip
{quote} Your focus is in the wrong place. You need to forget about patterns and focus on order flow and ratio confluence areas. This is what will make everything else easier to trade. Trying to trade these patterns without understanding the dynamics of price action or knowing how to properly read a chart is like crossing the street with your eyes close. It just doesn't work. Slow down clear your mind and start reading the chart. Have an expectation as to what should happen next. There are no shortcuts here and you do have to do your home work.

you replied too while i was writing
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,996
  • Dec 13, 2013 1:55pm Dec 13, 2013 1:55pm
Quoting horuxito
Hello everyone, I see a lot of you are already using Ninja. But for those who still use MT4 I have been developing some tools that will help getting the same feel as Mr. Pip in Ninjatrader. You can go back and see my posts, you'll notice that I have borders in the retangles, and colored fibonacci levels. Anyway, that's still in development For now I can share a tool I'm sure it will be well received. This indicator read the fibonacci objects that are present in the chart and automatically asign one different color to each of them. This...

nice work I'll try it in my mt4 thanks for sharing, can you make the woman say ur name too ? that would be cool lol!!
Never said I was Batman,all I'm saying is you'll never see us together.
  • #5,997
  • Dec 13, 2013 1:56pm Dec 13, 2013 1:56pm
Quoting kumaramy
{quote} No. The true student would learn and try to notice why that trade is taken. He can show and talk about the previous swings where the trade was taken and closed. It's not necessary to show live trades.
I have no patience for comments like this and for Traders that are looking for shortcuts.

I'm here and some of my friends and colleagues as well to help you progress but you have to put in the effort. Your comment shows total lack of respect for the work we are putting in here.

We are doing our part now you must do yours.

I can tell you have not read through the material and you are looking for shortcuts. Common sense should tell you that the level of detail you are asking me to provide on each trade is not possible on the time frame that I trade furthermore most of it should be known to you if you would have done your part.

I am not here to spoon feed you when you can feed yourself and should do so. Don't take not comment as insulting nor that I am picking on you. I hope if anything it motivates you and light a fire in your butt to be accountable and take responsibility to become a market professional if that is your goal.

I will help you grow if you want but you must listen and work, you must read and study and I will ask you to leave smart ass comment like the one you made a few days back at the door before coming into my house.

That I was getting too busy to answer your question. Remember? Don't do that shit again.
If you fail to plan, you plan to fail.
  • #5,998
  • Dec 13, 2013 2:03pm Dec 13, 2013 2:03pm
Quoting PipTrendz
{quote} Yep me too!! Great start to the day Mr Pip, great work!! I took the GBPUSD but got in a little late so only took 10 pips (lunch again!!). I am also going short on the EURUSD as a completed Bat pattern and an aggro C following the downwards trend. Lets see how this pans out as had 2 losers today and 2 winners although the losers far outweighed the winners! Just need a couple of good trades and I may BE for the day but will only trade if they are there, I will not chase them down
Lunch is hurting you LOL. Wait for price only indicators chase it.
If you fail to plan, you plan to fail.
  • #5,999
  • Dec 13, 2013 2:16pm Dec 13, 2013 2:16pm
Quoting gaf
{quote} We'll let the heavy weights decide but for now that is my thesis and suits my scientific brain . Have a wonderful weekend!
Excellent work today John! How did it feel? Keep at it and you will soon become a Jedi Master as well. Way to put in the screen time and homework. This is how I way able to learn this but over a much longer period of time as it was just me. Remember to stay ahead of price.

Really proud!
If you fail to plan, you plan to fail.
  • #6,000
  • Dec 13, 2013 2:38pm Dec 13, 2013 2:38pm
NzdUsd-M15 nothing for a Friday evening, but may be for a Monday opening?
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