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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

  • #6,721
  • Dec 27, 2013 3:31pm Dec 27, 2013 3:31pm
Quoting Muyen
HI Guys how about this for ABCD completion is this going to be treated as exhaustion {image}

Only if you have stopped breathing.....lol Forgive me Muyen for my twisted sense of humor....... I find it is easier to laugh than cry. I see that I am not the only one who has not done well today as my friend Horuxito has also been fooled by the market. These areas of COMPLETE exhaustion are one of the areas that has be handcuffed. Hopefully Mr. Pip will be kind enough to give us insight on this. This and the entry are the difference between profitability and being of the other 95%. If I'm going down I'm going down kicking, let's pray for Mr. Pips wisdom. Happy New Yr.
  • #6,722
  • Dec 27, 2013 3:35pm Dec 27, 2013 3:35pm
Quoting dpaulinla
Mr. Pip, These are exactly the areas that I find most troubling and hard to figure out. As you see in the main retracement it comes to the 38.1-50-68.1 level. After reaching the 61.8 level it makes a higher high and follows with a lower low. It then follows that with a lower high and price action looks to be playing out. 2 bearing candles follow, allowed the second is somewhat weak and then bang......the rug is drug out from under you. You are thinking the bulls are at best going to keep it somewhat in the area and it doesn't happen. This seems...
Paul, it takes some time to put things together look at the most recent video and if we still need some more then I will make more no worries.
If you fail to plan, you plan to fail.
  • #6,723
  • Dec 27, 2013 3:40pm Dec 27, 2013 3:40pm
Quoting dpaulinla
{quote} Only if you have stopped breathing.....lol Forgive me Muyen for my twisted sense of humor....... I find it is easier to laugh than cry. I see that I am not the only one who has not done well today as my friend Horuxito has also been fooled by the market. These areas of COMPLETE exhaustion are one of the areas that has be handcuffed. Hopefully Mr. Pip will be kind enough to give us insight on this. This and the entry are the difference between profitability and being of the other 95%. If I'm going down I'm going down kicking, let's...
There's a reason I don't trade during this time and neither do many market professionals. There are still trade setups but harder to manage as we are dealing with a thin market which produces wild price swings. I will give you my 2 pips worth but post your chart with your entries and I will break it down for you. going to step out for a while but I will work on it when I get back.
If you fail to plan, you plan to fail.
  • #6,724
  • Dec 27, 2013 3:44pm Dec 27, 2013 3:44pm
Yes sir Mr. Pip,
I understand the time constraints this tread already take of your time. I will spend the weekend going over and over your videos. As you might understand seeing some of the requests I have posted I come along after the internet era and have some issues in doing things I've never done or seen done before. Thanks for your time and patience with me. I look forward to learning from you. I also want to wish you and your family a very Happy New Year filled with joy and blessings. I also wish to call out my good friend Horuxito who was more than generous to walk me through some steps. It is people like he and you Mr. Pip who makes this a place we WANT to call home.
  • #6,725
  • Dec 27, 2013 3:52pm Dec 27, 2013 3:52pm
Quoting Mr. Pip
{quote} There's a reason I don't trade during this time and neither do many market professionals. There are still trade setups but harder to manage as we are dealing with a thin market which produces wild price swings. I will give you my 2 pips worth but post your chart with your entries and I will break it down for you. going to step out for a while but I will work on it when I get back.
Excellent video Mr. Pip! and nice music.

I can see how extensions can provide you with an expectation for price during your ongoing trade and for possible areas of exhaustions for taking a counter. I will review this video over and over since it also supports all what we have been talking about ABCD's, retracemens, momentum and, more importantly, expectation.

In the image you posted a few posts back I can see how great you were able to pick that top, to the pip!

We had an intermediate base there to take a smaller extension measurement. But I was wondering, when you don't have a decent retracement. Could we take the 50% of the whole move as an additional measurement? I post an image of the EURUSD of October with an example of what I say, which pin pointed very nicely a confluenced exhaustion turning point. Price rallied from there more than 300 pips to complete the 61.8% retracement of the previous bearish move.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-c.png Size: 54 KB
Best time to plant a tree was 20 years ago, second best is now
  • #6,726
  • Dec 27, 2013 4:00pm Dec 27, 2013 4:00pm
Quoting dpaulinla
Yes sir Mr. Pip, I understand the time constraints this tread already take of your time. I will spend the weekend going over and over your videos. As you might understand seeing some of the requests I have posted I come along after the internet era and have some issues in doing things I've never done or seen done before. Thanks for your time and patience with me. I look forward to learning from you. I also want to wish you and your family a very Happy New Year filled with joy and blessings. I also wish to call out my good friend Horuxito who was...
Thanks Paul!
Best time to plant a tree was 20 years ago, second best is now
  • #6,727
  • Dec 27, 2013 4:13pm Dec 27, 2013 4:13pm
Quoting horuxito
What a day, like any other in the whole year! I had 2 consecutive losses in the EURUSD. The first was taken after an ABCD completion. I didn't noticed the strong momentum and projection of orderflow and that costed dearly. My little soldier died in battle very soon. Thanks to the rules I was taken out fast and didn't suffer beyond unreasonable. After that trade I started to project some fibo extensions to pinpoint areas of exhaustion. There were some nice levels around 1.3820. I planed to average my position from there up to 1.3850 if price reached...

I stopped trading around this time of year a few years ago, forex seems to only get going again around the end of Jan liquidity wise, so be carefull.. Also I avoid trading Asia now which is my day time because of liquidity in the majors, i'll trade AUD/JPY now only at a push
Never said I was Batman,all I'm saying is you'll never see us together.
  • #6,728
  • Dec 27, 2013 5:22pm Dec 27, 2013 5:22pm
Ok, Here is my snub for the day. Took first trade after NY open on London to NY swing looking for aggressive C pullback. Entered at top red arrow (perfect) and took profit at red arrow up around consolidation looking for short pullback off consolidation. First move was about as good as anyone can do..... Second I wait for short pullback thinking the retracement has to go around 50%. I enter again at top of short pull back(patting myself on the back since I am reading price so well) Then short stall.........move tp up to consolidation at get out with pip or 2 then BINGO. Thinking it is a false breakout and not going for I look for 3rd wave reversal since entry was completion of AB=CD.... Now my profits for the morning are in the minus on this trade Short story 37 pips profit now has a 45 pip lean on it an it never come back before close. I have 13 pips before stop loss so any gap up on open (I didn't want to carry the weekend) will stop me out for minus20 pips........ That my friend is how to take it from good to bad. Please feel free to kick my rear as I want to do it myself but can't get my foot to work in the proper angle........ Perhaps I should show my foot some harmonics....lol Your feedback and comments are muusdjpym5-12-27.png (http://www.forexfactory.com/attachment.php?attachmentid=1336526&stc=1&d=1388186552)ch appreciated. Paul
Attached Image (click to enlarge)
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  • #6,729
  • Dec 27, 2013 6:18pm Dec 27, 2013 6:18pm
Quoting dpaulinla
Ok, Here is my snub for the day. Took first trade after NY open on London to NY swing looking for aggressive C pullback. Entered at top red arrow (perfect) and took profit at red arrow up around consolidation looking for short pullback off consolidation. First move was about as good as anyone can do..... Second I wait for short pullback thinking the retracement has to go around 50%. I enter again at top of short pull back(patting myself on the back since I am reading price so well) Then short stall.........move tp up to consolidation at get out...
Hey Paul!
Here are some thoughts with my "Captain Hindsite" glasses on . We can use our review to get our subconscious trained to see this stuff in real time so its actually extremely useful. If you have any other questions feel free to ask. There is a lot of material to go through and much practice to be done. If you are going to be trading live use pennies and don't be hard on yourself as there will be lots of mistakes until experience is gained. Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: $USDJPY (5 Min) 27_12_2013.jpg Size: 100 KB
Finally out of the shadows.
  • #6,730
  • Dec 27, 2013 7:13pm Dec 27, 2013 7:13pm
Quoting Mr. Pip
Here is another video covering exhaustion points and harmonic for market turning points. Post comments or concerns. http://www.youtube.com/watch?v=JsNIrS8rUWE&feature=player_detailpage
Best part of that vid for me was when you stated the impracticality of reaching a full ab=cd due to the obstacles in the way. It is a nice reminder of the freedom of our system and of how to use the information the market gives us properly. Thank you so much for your holiday time. Cheers.
Finally out of the shadows.
  • #6,731
  • Dec 27, 2013 7:35pm Dec 27, 2013 7:35pm
Quoting gaf
{quote} Hey Paul! Here are some thoughts with my "Captain Hindsite" glasses on . We can use our review to get our subconscious trained to see this stuff in real time so its actually extremely useful. If you have any other questions feel free to ask. There is a lot of material to go through and much practice to be done. If you are going to be trading live use pennies and don't be hard on yourself as there will be lots of mistakes until experience is gained. Cheers. {image}
Excellent work John I'm impressed.
If you fail to plan, you plan to fail.
  • #6,732
  • Dec 27, 2013 7:41pm Dec 27, 2013 7:41pm
Thanks Gaf for your input. I nailed the NSH and also the NSL and also anticipated a pullback. I have another service with tic readings and I watch this for my entries and exits although they do not allow me to take pics of charts to share. On the pullback it was somewhat aggressive but plays out it seems at the second candle. I know we are in a bull market but thinking it can't go much higher. The first entry was at a round number and had been rejected several times right after NY open. We have barely got a 38.1 pullback off main swing so I am looking for at least a retest of that. That is where I made my mistake. I think I need to look at longer time frames for set ups rather than look at the 5 min. = 100 tic chart and perhaps use them or my entries. I started off looking at long time frames when I first started trading but I im impatient and have an aggressive personality. These are things I must overcome and I will because I have always succeeded in life and accomplished anything I wanted to accomplish. I think this is something everyone in this tread can do if they just want it bad enough. P.S. I will consider trading for pennies but not very seriously. I take this very seriously and by losing real money it makes you study a whole lot harder........lol Hope you have a Happy New Yr and look forward to your comments to my posts and seeing your own. I can see you have the dedication to succeed.
  • #6,733
  • Dec 27, 2013 7:56pm Dec 27, 2013 7:56pm
I have looked at your new video Mr. Pip and it let's me know. I should perhaps look to longer time frames for my setup and I am perhaps not ready to trade the 5 minute charts because my price action and momentum is not accurate enough. I can nail things to the .000 on entry and exit for a couple times then things go to too..........China Before you know it I'm stuck in a losing trade that has eaten my profits and more. 1-1/2 steps forward then 2 back. After awhile they will eat out your account. Anyway I plan on spending the weekend studying your videos over and over........Thanks for your help
  • #6,734
  • Dec 27, 2013 8:16pm Dec 27, 2013 8:16pm
Quoting Mr. Pip
{quote} Excellent work John I'm impressed.
Thanks Damian! Without your teachings I wouldn't' be able to do any of this. I need to get better at doing this real time especially when I am in a trade but I see definite improvement from weeks ago.
Finally out of the shadows.
  • #6,735
  • Dec 27, 2013 8:16pm Dec 27, 2013 8:16pm
Quoting dpaulinla
I have looked at your new video Mr. Pip and it let's me know. I should perhaps look to longer time frames for my setup and I am perhaps not ready to trade the 5 minute charts because my price action and momentum is not accurate enough. I can nail things to the .000 on entry and exit for a couple times then things go to too..........China Before you know it I'm stuck in a losing trade that has eaten my profits and more. 1-1/2 steps forward then 2 back. After awhile they will eat out your account. Anyway I plan on spending the weekend studying your...
No need to jump to a higher time frame. Trade the time frame that moves at a speed you can keep up with. Remember to hav a realistic expectation comprable to that time frame. Take your time if you miss a setup don't chase it. Rome wasn't built overnight. Be patient with yourself and stay true to your process. Own that chart!
If you fail to plan, you plan to fail.
  • #6,736
  • Dec 27, 2013 10:48pm Dec 27, 2013 10:48pm
Quoting pampaq
{quote} The Scorps: How could I know that the P does not bounce in 61 or 78%, and would continue towards 100%? Anything to avoid reaching my SL? thanks {image}
Main swing formed a large ABCD , followed by double bottom and a deep pullback correction into the long term down trend to 61.8 and 78.6 which is lined with nice structure zone and resistance

All this confluence adds to the expectation that price may find this area a lot of seller to push the market with main trend but my expectation was that pa could make a shallow pullback not sinking as what happened later and this is what I try to improve
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
  • #6,737
  • Dec 27, 2013 11:02pm Dec 27, 2013 11:02pm
Quoting TheScorpS
{quote} Main swing formed a large ABCD , followed by double bottom and a deep pullback correction into the long term down trend to 61.8 and 78.6 which is lined with nice structure zone and resistance All this confluence adds to the expectation that price may find this area a lot of seller to push the market with main trend but my expectation was that pa could make a shallow pullback not sinking as what happened later and this is what I try to improve {image}
I am holding my long to cover it close to BE.
-milkeyway
  • #6,738
  • Dec 27, 2013 11:05pm Dec 27, 2013 11:05pm
Quoting TheScorpS
{quote} Main swing formed a large ABCD , followed by double bottom and a deep pullback correction into the long term down trend to 61.8 and 78.6 which is lined with nice structure zone and resistance All this confluence adds to the expectation that price may find this area a lot of seller to push the market with main trend but my expectation was that pa could make a shallow pullback not sinking as what happened later and this is what I try to improve {image}
What you think about EURGBP 1hr ? i am long @8358
-milkeyway
  • #6,739
  • Dec 27, 2013 11:28pm Dec 27, 2013 11:28pm
S/R key level
Attached Image (click to enlarge)
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-milkeyway
  • #6,740
  • Dec 27, 2013 11:30pm Dec 27, 2013 11:30pm
Quoting kumaramy
{quote} What you think about EURGBP 1hr ? i am long @8358
looking at PA at the moment, there is structure supporting the traded, with 161.8 AB=CD completion and 61.8 confluence of bigger ABCD , so if market fails to break below 61.8 and 78.6 and close below, I think you are good to go, concern is looking at momentum and projection, pa could continue bearish specially the market didn't retrace much before completing the CD leg, just retraced to 23.6 indication that pa is making indeed a deeper projection and stronger momentum
Attached Image (click to enlarge)
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I Have Learned to Take Some Losses to Make Profits
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