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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

  • #8,161
  • Feb 10, 2014 10:41am Feb 10, 2014 10:41am
Quoting IenDzi
{quote} It's for everyone in this thread, who has some thoughts. I have difficulties with entries, in pattern trading it's easy to enter, at D completion, but when there is no pattern, that becomes hard to me.
I don't trade this pair but looking at the chart it just hit a daily high at the 50 round number and is right above the 61.8 retracement on the hourly chart. I would have thought that a good place to look to go short. Just my opinion from a quick glance at the chart.
  • #8,162
  • Feb 10, 2014 10:49am Feb 10, 2014 10:49am
Sorry IenDzi,
It was the daily chart where I had laid out the fibs. It is just past the 61.8 retracement on the daily. To me though it does look like a good short opportunity there at the 1.3650. Just my opinion, I am not a pro nor do I follow this pair.
  • #8,163
  • Feb 10, 2014 4:46pm Feb 10, 2014 4:46pm
Quoting kumaramy
{quote} Both have touched 61 {image}
Dunno, must be my eye. You went down to LTF to check, and that is a great thing thanks, but even then it was short by cca 6 pips on B=61,8% of XA.
It should not be subjective though, unless our X was different (?)
Well then you took it as a gartley at a demand level? Then you are having a profit of 30-35 pips? Great. Most of the time better safe than sorry, however at this level there is a nice demand for sure. I think here must be a lot o differences between people even using the "same" methods.
Let me know how you conclude after a sleepy day in the market
BTW it has hit the B level of the HP again, likely to have it as a resistance and bounce...in case you are long, just secure yourself!

Tnx
  • #8,164
  • Feb 10, 2014 8:42pm Feb 10, 2014 8:42pm
Mr. Pip,
How do you deal with a day or days when the markets just go sideways in a 20-25 pip range? I have been dealing with this for some time with the pair I trade. A good trade set up seems to come maybe once a week rather than a couple times a day. Just curious what a professional trader does. Thanks in advance.




Paul
  • #8,165
  • Feb 10, 2014 10:04pm Feb 10, 2014 10:04pm
Quoting kumaramy
Entered long aj and nj. I will tell the confluence later. Let me see if this works. {image} {image}
Sorry I couldn't tell the confluence.
Attached Image(s) (click to enlarge)
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-milkeyway
  • #8,166
  • Feb 10, 2014 10:15pm Feb 10, 2014 10:15pm
Quoting kumaramy
{quote} Sorry I couldn't tell the confluence. {image} {image} {image} {image}
Red swing had lots of rejections from the downside so the swing became weak. Also had sharp rejections at bottom.
Green swing didn't have much rejections compared to red swing. So the swing was stronger than red.
Attached Image (click to enlarge)
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-milkeyway
  • #8,167
  • Feb 10, 2014 10:19pm Feb 10, 2014 10:19pm
Quoting kumaramy
{quote} Sorry I couldn't tell the confluence. {image} {image} {image} {image}
It had bullish structure with increasing strength to the upside also broke the red trend line channel.
Attached Image (click to enlarge)
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-milkeyway
  • #8,168
  • Feb 10, 2014 10:46pm Feb 10, 2014 10:46pm
Quoting lobogabor
{quote} Dunno, must be my eye. You went down to LTF to check, and that is a great thing thanks, but even then it was short by cca 6 pips on B=61,8% of XA. It should not be subjective though, unless our X was different (?) Well then you took it as a gartley at a demand level? Then you are having a profit of 30-35 pips? Great. Most of the time better safe than sorry, however at this level there is a nice demand for sure. I think here must be a lot o differences between people even using the "same" methods. Let me know how you conclude after a sleepy...
I don't have trade on this pair.
-milkeyway
  • #8,169
  • Edited 11:28pm Feb 10, 2014 11:14pm | Edited 11:28pm
ABCD trade that I am in right now. Gonna only get 1:1 on this one.
EDIT: TP hit!
Attached Image (click to enlarge)
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Damn The Torpedoes, Full Speed Ahead!
  • #8,170
  • Feb 10, 2014 11:33pm Feb 10, 2014 11:33pm
Just entered short AN. Before confluence let me see if this works. By the way confluence are same as previous.
Attached Image (click to enlarge)
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-milkeyway
  • #8,171
  • Feb 10, 2014 11:42pm Feb 10, 2014 11:42pm
Quoting kumaramy
Just entered short AN. Before confluence let me see if this works. By the way confluence are same as previous. {image}
Closed short AN with -6 bcoz strength and weakness is against the trade.
-milkeyway
  • #8,172
  • Edited 8:24am Feb 11, 2014 7:49am | Edited 8:24am
Shorted AJ and NJ. Confluence here (http://www.forexfactory.com/showthread.php?p=7274059#post7274059)
Attached Image(s) (click to enlarge)
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-milkeyway
  • #8,173
  • Feb 11, 2014 7:51am Feb 11, 2014 7:51am
Quoting kumaramy
Shorted AJ and NJ. Confluence same as previous. {image} {image}
AJ SL moved to BE.
-milkeyway
  • #8,174
  • Feb 11, 2014 7:56am Feb 11, 2014 7:56am
Quoting kumaramy
Shorted AJ and NJ. Confluence same as previous. {image} {image}
AJ NJ both SL moved to BE.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: nzdjpym5.png Size: 34 KB
-milkeyway
  • #8,175
  • Feb 11, 2014 8:05am Feb 11, 2014 8:05am
Quoting kumaramy
Shorted AJ and NJ. Confluence same as previous. {image} {image}
Should I closed them?? NO. Not until next confluence.
They will be closed either at BE or either at next confluence.
Attached Image (click to enlarge)
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-milkeyway
  • #8,176
  • Feb 11, 2014 8:23am Feb 11, 2014 8:23am
Quoting kumaramy
Shorted AJ and NJ. Confluence same as previous. {image} {image}
Confluence:
Attached Image (click to enlarge)
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-milkeyway
  • #8,177
  • Feb 11, 2014 8:34am Feb 11, 2014 8:34am
Possible short but not entering this trade.
Attached Image (click to enlarge)
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-milkeyway
  • #8,178
  • Feb 11, 2014 8:35am Feb 11, 2014 8:35am
I got in EURUSD.
Attached Image (click to enlarge)
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  • #8,179
  • Feb 11, 2014 8:42am Feb 11, 2014 8:42am
Quoting kumaramy
{quote} Confluence: {image}
Just some more thoughts, regarding "Dumb Money Tried to Long"
Some of that order flow will not be people entering long, but exiting shorts i.e. perhaps they shorted earlier on, saw price move against them, then closed out as price returned to near their entry point.
  • #8,180
  • Feb 11, 2014 8:44am Feb 11, 2014 8:44am
Quoting IenDzi
I got in EURUSD. {image}
I'm actually short on EURUSD at the moment. I think it still has some short mileage left, but I'll be keeping the stops tight.
Earlier, I managed to short the top of the swing (there was clear deceleration on the tick chart, but it is not so clear on time chart). I then exited at the first retracement.

Edit: just saw there is some high impact news coming... I'll be exiting at BE if I can (in the next 10 mins)
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