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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

  • #6,741
  • Dec 27, 2013 11:36pm Dec 27, 2013 11:36pm
Quoting TheScorpS
{quote} 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 {image}
I think actual S/R key level of EURGBP is at my SL.
There is high probability to test that level and hit my SL.
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-milkeyway
  • #6,742
  • Dec 27, 2013 11:52pm Dec 27, 2013 11:52pm
Hello Mr. Pip.
It is good to trade when market gives corrections like 61.8% fib, testing previous LH as support when uptrend, etc.

But, when goes upside without testing previous LH, or without giving big retracement like 61%, how do you trade it ?
Thanks
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-milkeyway
  • #6,743
  • Dec 28, 2013 12:06am Dec 28, 2013 12:06am
Quoting kumaramy
S/R key level {image}

Hi I think if you zoom out and look at it from bigger TF you will see some thing like gartley forming share your exp with us on this because i keep seeing big swing and on this

Muyen
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  • #6,744
  • Dec 28, 2013 12:11am Dec 28, 2013 12:11am
Quoting Muyen
{quote} Hi I think if you zoom out and look at it from bigger TF you will see some thing like gartley forming share your exp with us on this because i keep seeing big swing and on this Muyen {image}
Yes. I have those levels as target in mind. http://www.forexfactory.com/showthread.php?p=7175135#post7175135
http://www.forexfactory.com/showthread.php?p=7174254#post7174254
-milkeyway
  • #6,745
  • Dec 28, 2013 12:55am Dec 28, 2013 12:55am
Quoting kumaramy
Hello Mr. Pip. It is good to trade when market gives corrections like 61.8% fib, testing previous LH as support when uptrend, etc. But, when goes upside without testing previous LH, or without giving big retracement like 61%, how do you trade it ? Thanks {image}
Amit please! Come on!

Last Mr. Pip's video was all about it, exhaustion! and the nice picture he posted prior to that.

Today he brought an amazing topic to the table. He is precisely waiting for questions from us to go deeper on it. Please, I ask you all to realize the power of fibonacci extensions. We are talking about pin pointing the tops and bottoms where price is more likely to reverse, something that even goes beyond PRZ's. If we master this subject all those RSI, MACD, envelopes, bollinger bands and all that crap that is suppose to measure OBOS markets, will go directly to the trash bin.

Mastering this, and with a sound money management in place, we could even forecast where price might stall after FOMC releases.

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You need to master these extensions as well. The orange one represents a bigger structure so the 127.2% is a nice target. In the short time scale we projected a second extension and here we have to look for exhaustion that comes in around the 138.2% and 161.8%, but since the 127.2% of the bigger one is already in place, we can reduce our zone for a confluence of both the 127 and 138 taken from the different 2 measurements.

Keep it up Amit my friend, and watch Mr. Pip's video on turning points over and over!
Best time to plant a tree was 20 years ago, second best is now
  • #6,746
  • Dec 28, 2013 12:59am Dec 28, 2013 12:59am
Quoting horuxito
{quote} Amit please! Come on! Last Mr. Pip's video was all about it, exhaustion! and the nice picture he posted prior to that. Today he brought an amazing topic to the table. He is precisely waiting for questions from us to go deeper on it. Please, I ask you all to realize the power of fibonacci extensions. We are talking about pin pointing the tops and bottoms where price is more likely to reverse, something that even goes beyond PRZ's. If we master this subject all those RSI, MACD, envelopes, bollinger bands and all that crap that is suppose to...
What is mean by exhaustion ?
-milkeyway
  • #6,747
  • Dec 28, 2013 1:00am Dec 28, 2013 1:00am
Quoting horuxito
{quote} Amit please! Come on! Last Mr. Pip's video was all about it, exhaustion! and the nice picture he posted prior to that. Today he brought an amazing topic to the table. He is precisely waiting for questions from us to go deeper on it. Please, I ask you all to realize the power of fibonacci extensions. We are talking about pin pointing the tops and bottoms where price is more likely to reverse, something that even goes beyond PRZ's. If we master this subject all those RSI, MACD, envelopes, bollinger bands and all that crap that is suppose to...
Did i already done that here? http://www.forexfactory.com/showthread.php?p=7176718#post7176718
-milkeyway
  • #6,748
  • Dec 28, 2013 1:03am Dec 28, 2013 1:03am
Quoting horuxito
{quote} Amit please! Come on! Last Mr. Pip's video was all about it, exhaustion! and the nice picture he posted prior to that. Today he brought an amazing topic to the table. He is precisely waiting for questions from us to go deeper on it. Please, I ask you all to realize the power of fibonacci extensions. We are talking about pin pointing the tops and bottoms where price is more likely to reverse, something that even goes beyond PRZ's. If we master this subject all those RSI, MACD, envelopes, bollinger bands and all that crap that is suppose to...
I don't understand the spoken english well. I understand written english better. I watched that video but can you elaborate in in post? I am dying to learn.
-milkeyway
  • #6,749
  • Dec 28, 2013 1:13am Dec 28, 2013 1:13am
Quoting kumaramy
{quote} What is mean by exhaustion ?
Exhaustion means price cannot go any further since it's tired to continue. The bulls in this case did everything they had to do and the bears were ready to take over. We had an over bought market here. The key element is the appropriate measurement of the extensions. You must select relevant highs and lows in order to build a strong case. If you don't take a step back you probably are taking a little portion of the structure so you could even expect a 200% extension to play out, like mirroing or reproducing that range at the other side of the rally.
Best time to plant a tree was 20 years ago, second best is now
  • #6,750
  • Dec 28, 2013 1:15am Dec 28, 2013 1:15am
Quoting horuxito
{quote} Exhaustion means price cannot go any further since it's tired to continue. The bulls in this case did everything they had to do and the bears were ready to take over. We had an over bought market here. The key element is the appropriate measurement of the extensions. You must select relevant highs and lows in order to build a strong case. If you don't take a step back you probably are taking a little portion of the structure so you could even expect a 200% extension to play out, like mirroing or reproducing that range at the other side of...
can you add me on skype : amithapase
-milkeyway
  • #6,751
  • Dec 28, 2013 1:25am Dec 28, 2013 1:25am
Quoting kumaramy
{quote} can you add me on skype : amithapase
I guess I have plenty of enthusiasm but still have a long way to walk here I will add you, but for now, time to go to bed
Best time to plant a tree was 20 years ago, second best is now
  • #6,752
  • Dec 28, 2013 3:35am Dec 28, 2013 3:35am
Quoting horuxito
{quote} Amit please! Come on! Last Mr. Pip's video was all about it, exhaustion! and the nice picture he posted prior to that. Today he brought an amazing topic to the table. He is precisely waiting for questions from us to go deeper on it. Please, I ask you all to realize the power of fibonacci extensions. We are talking about pin pointing the tops and bottoms where price is more likely to reverse, something that even goes beyond PRZ's. If we master this subject all those RSI, MACD, envelopes, bollinger bands and all that crap that is suppose to...
Hey Nice explanation by Mr. Pip. our exceptions were too similar ! http://www.forexfactory.com/showthread.php?p=7172067#post7172067
-milkeyway
  • #6,753
  • Edited 5:07am Dec 28, 2013 4:52am | Edited 5:07am
EURCHF High probable test level.
Increasing O/F to upside.
Increasing MOM to upside

Buyer's side.
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-milkeyway
  • #6,754
  • Dec 28, 2013 5:03am Dec 28, 2013 5:03am
If tests 1206. I will be with bulls Gold.
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-milkeyway
  • #6,755
  • Edited 5:42am Dec 28, 2013 5:14am | Edited 5:42am
US Oil :
1st Bar by bar analysis then short.
TP 98.80
98.80 is high probable test level
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-milkeyway
  • #6,756
  • Edited 9:39am Dec 28, 2013 5:42am | Edited 9:39am
GBPCHF test level 4584.
Update. Test observation then choosing the side.
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-milkeyway
  • #6,757
  • Dec 28, 2013 8:02am Dec 28, 2013 8:02am
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 agree with you, I enter with a Buy Limit at 0.8885.
Now I'm working to see my mistake. Annex to the graph, if possible, you and Mr. Pip tell me if this incorrect.
It's hard the way of learning. But with good teachers should be possible.
Thank you very much.
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  • #6,758
  • Dec 28, 2013 9:44am Dec 28, 2013 9:44am
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}

Hey ScorpS! Your read was bang on. You did get a shallow pullback it just failed. I probably would have wanted a double top or at least another bar on this one. However sometimes you have to just pounce if you get a good signal in your zone.

The projection did increase on the previous leg of the small abcd so although the bulls are deeper than expected and aggressive we also have to realize that orderflow is still currently with the bears. The previous big down swing also had great projection so that adds to the argument.

Sorry for the chopped chart. My ninjatrader doesn't' want to load more than 3 days of bars.
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Finally out of the shadows.
  • #6,759
  • Dec 28, 2013 9:59am Dec 28, 2013 9:59am
Quoting gaf
{quote} Hey ScorpS! Your read was bang on. You did get a shallow pullback it just failed. I probably would have wanted a double top or at least another bar on this one. However sometimes you have to just pounce if you get a good signal in your zone. The projection did increase on the previous leg of the small abcd so although the bulls are deeper than expected and aggressive we also have to realize that orderflow is still currently with the bears. The previous big down swing also had great projection so that adds to the argument. Sorry for the chopped...
You nailed it gaf , this is exactly what I saw and expected, was watching the circled area, but no long signal appeared for taking long , so a push to the down side was more likely appear since the long term order flow is bearish
I Have Learned to Take Some Losses to Make Profits
  • #6,760
  • Dec 28, 2013 10:08am Dec 28, 2013 10:08am
Quoting pampaq
{quote} I agree with you, I enter with a Buy Limit at 0.8885. Now I'm working to see my mistake. Annex to the graph, if possible, you and Mr. Pip tell me if this incorrect. It's hard the way of learning. But with good teachers should be possible. Thank you very much. {image}
I think you are good to go, there is is this demand zone convergence with PRZ and completion of the longer ABCD
I Have Learned to Take Some Losses to Make Profits
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