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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

  • #6,941
  • Jan 3, 2014 6:08am Jan 3, 2014 6:08am
Quoting Mr. Pip
Could not resist {image}
Snap... I'm not doing very well at not trading today
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  • #6,942
  • Jan 3, 2014 6:09am Jan 3, 2014 6:09am
Quoting Mr. Pip
Here today to answer questions and see if anyone wants to go over anything before Monday?
I have one question.

We can see here decreasing momentum to the downside and increasing momentum and acceleration to the upside. But still price felt down. I am unable to guess why did that happen. Where I am doing mistake ?
Attached Image (click to enlarge)
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-milkeyway
  • #6,943
  • Jan 3, 2014 6:10am Jan 3, 2014 6:10am
Trying to hit profit
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_3_2014 Update 3.jpg Size: 130 KB
If you fail to plan, you plan to fail.
  • #6,944
  • Jan 3, 2014 6:11am Jan 3, 2014 6:11am
Quoting itinerant
{quote} Snap... I'm not doing very well at not trading today {image}
LOL
If you fail to plan, you plan to fail.
  • #6,945
  • Jan 3, 2014 6:16am Jan 3, 2014 6:16am
Update price is very close to take profit but breaking down.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_3_2014 Update 4.jpg Size: 130 KB
If you fail to plan, you plan to fail.
  • #6,946
  • Jan 3, 2014 6:20am Jan 3, 2014 6:20am
It’s been a while since I posted on this thread. Been lurking for a while but haven’t traded, too busy with other obligations. Now that I have more time I’m ready to get back into it. Nice trade Mr. Pip! I took the same one
"The only thing I’m addicted to right now is winning."
  • #6,947
  • Jan 3, 2014 6:20am Jan 3, 2014 6:20am
Closed at take profit hit 26 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_3_2014 Final.jpg Size: 123 KB
If you fail to plan, you plan to fail.
  • #6,948
  • Jan 3, 2014 6:24am Jan 3, 2014 6:24am
Quoting Mr. Pip
Closed at take profit hit 26 pips. {image}
Nice, I bailed out a little earlier.
So the question is: would you consider price to have accepted the breakout at this point, or do we need more bars to decide?
Price made a strong move down through support, creating a falling 3 the other side of support.
But now it seems to have settled into some sideways congestion.
If it breaks above the old support, breakout failure.
What is your expectation at the moment?
Attached Image (click to enlarge)
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  • #6,949
  • Jan 3, 2014 6:25am Jan 3, 2014 6:25am
Quoting kumaramy
{quote} I have one question. We can see here decreasing momentum to the downside and increasing momentum and acceleration to the upside. But still price felt down. I am unable to guess why did that happen. Where I am doing mistake ? {image}
Overall look at the structure. What was it telling you?
If you fail to plan, you plan to fail.
  • #6,950
  • Jan 3, 2014 6:27am Jan 3, 2014 6:27am
Quoting Good2Cu
It’s been a while since I posted on this thread. Been lurking for a while but haven’t traded, too busy with other obligations. Now that I have more time I’m ready to get back into it. Nice trade Mr. Pip! I took the same one
It was an easy one.
If you fail to plan, you plan to fail.
  • #6,951
  • Jan 3, 2014 6:30am Jan 3, 2014 6:30am
Quoting Mr. Pip
{quote} Overall look at the structure. What was it telling you?
I don't know how to decide the side in sideway market.
-milkeyway
  • #6,952
  • Jan 3, 2014 6:31am Jan 3, 2014 6:31am
Quoting itinerant
{quote} Nice, I bailed out a little earlier. So the question is: would you consider price to have accepted the breakout at this point, or do we need more bars to decide? Price made a strong move down through support, creating a falling 3 the other side of support. But now it seems to have settled into some sideways congestion. If it breaks above the old support, breakout failure. What is your expectation at the moment? {image}
I would trade the pattern completion and manage it aggressively.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_3_2014 Long.jpg Size: 138 KB
If you fail to plan, you plan to fail.
  • #6,953
  • Jan 3, 2014 6:33am Jan 3, 2014 6:33am
Quoting kumaramy
{quote} I don't know how to decide the side in sideway market.
Let structure guide your bias and look to S/D for opportunities.
If you fail to plan, you plan to fail.
  • #6,954
  • Jan 3, 2014 6:35am Jan 3, 2014 6:35am
Quoting Mr. Pip
{quote} I would trade the pattern completion and manage it aggressively. {image}
Thanks for the reply
So I see you're back in long. I've sat this one out
  • #6,955
  • Jan 3, 2014 6:35am Jan 3, 2014 6:35am
Hi Mr. Pip !

Here is an example of GBP trade setup that occured and was very good an ABCD by your rules. I looked at it in real time but didnt jump on this trade because I saw some strong momentum on the D completion point and therefore missed this nice trade. What do you suggest then ? How would you looked at this and was it good for you also to take a long in the 1.272-1.382 PRZ area ? Did I saw this and draw the harmonic legs correctly ? or should I consider also the bigger swing above those 2 also ? Thank you my doctor
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30.png Size: 55 KB
  • #6,956
  • Jan 3, 2014 6:38am Jan 3, 2014 6:38am
Does not look good. This is the downside to D completions they carry higher risk as you are usually going against order flow. Still hanging in there.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 1_3_2014 Long Update 1.jpg Size: 138 KB
If you fail to plan, you plan to fail.
  • #6,957
  • Jan 3, 2014 6:38am Jan 3, 2014 6:38am
Quoting itinerant
{quote} Thanks for the reply So I see you're back in long. I've sat this one out
I don't blame you
If you fail to plan, you plan to fail.
  • #6,958
  • Jan 3, 2014 6:43am Jan 3, 2014 6:43am
Quoting LuisPrinc
Hi Mr. Pip ! Here is an example of GBP trade setup that occured and was very good an ABCD by your rules. I looked at it in real time but didnt jump on this trade because I saw some strong momentum on the D completion point and therefore missed this nice trade. What do you suggest then ? How would you looked at this and was it good for you also to take a long in the 1.272-1.382 PRZ area ? Did I saw this and draw the harmonic legs correctly ? or should I consider also the bigger swing above those 2 also ? Thank you my doctor {image}
It is a good idea to consider the larger as well it adds confluence.
If you fail to plan, you plan to fail.
  • #6,959
  • Jan 3, 2014 6:46am Jan 3, 2014 6:46am
The bears show lots of weakness but the bulls are not capitalizing on the weakness. They better get their act together soon or they will lose the opportunity. Got taken out SL hit for -10.
If you fail to plan, you plan to fail.
  • #6,960
  • Jan 3, 2014 6:48am Jan 3, 2014 6:48am
Quoting Mr. Pip
{quote} Let structure guide your bias and look to S/D for opportunities.
Can you give example with my chart.?
-milkeyway
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