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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

  • #8,941
  • May 23, 2014 9:20pm May 23, 2014 9:20pm
Quoting Mack2013
{quote} Thank you for your response Headfake. I really struggled with this post trade review. I wanted to make sure I understood it correctly. Yeah, there was decent structure. It started with a consolidation period on a large swing then was tested twice with strong rejection. The next area of supply was quit close, just above. Now looking back at it, you’re right. The momentum was to strong. The long range bar with a small body should have been a clue that there was high volatility in price action lowering the probability of success in gauging...
All good, Yes that blue arrow candle would have had me closing that trade and I would have been looking for more rejection

I place stops above or below structure hhs and lls because confirmation failure is usually a bar close above a hh or ll etc.... I will close a trade earlier if price isnt behaving like expected
Never said I was Batman,all I'm saying is you'll never see us together.
  • #8,942
  • May 23, 2014 11:13pm May 23, 2014 11:13pm
Hey all...

I was watching AUD (1H) on Friday and saw a potential bearish bat pattern form.

  1. X - A looked strong
  2. A - B and B - C looked promising
  3. C - D fell apart

This patten could still complete, but I doubt it...

Does anyone know from experience if this pattern was invalidated in anyway (newbie harmonics trader), or it simply didn't work out?

https://charts.mql5.com/4/793/audusd...al-markets.png

Follow me at andrewfx2020 (dot) com
  • #8,943
  • May 24, 2014 9:31am May 24, 2014 9:31am
Quoting headfake
{quote} All good, Yes that blue arrow candle would have had me closing that trade and I would have been looking for more rejection I place stops above or below structure hhs and lls because confirmation failure is usually a bar close above a hh or ll etc.... I will close a trade earlier if price isnt behaving like expected
Got cha. thanks again
  • #8,944
  • Edited 10:23am May 25, 2014 8:35am | Edited 10:23am
eurusd D
emerging 5.0
Stoc oversold + bull div
extension SSA W as support
buy @1.36
tp @1.379
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  • #8,945
  • May 25, 2014 4:30pm May 25, 2014 4:30pm
I look a little further down, Greetings
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  • #8,946
  • May 26, 2014 9:16am May 26, 2014 9:16am
Quoting AussieForexM
Hey all... I was watching AUD (1H) on Friday and saw a potential bearish bat pattern form. X - A looked strong A - B and B - C looked promising C - D fell apart This patten could still complete, but I doubt it... Does anyone know from experience if this pattern was invalidated in anyway (newbie harmonics trader), or it simply didn't work out? {image}
Hey there! The C is lower than the A and that, in my book, would invalidate the pattern.
  • #8,947
  • May 27, 2014 7:02am May 27, 2014 7:02am
Quoting Mack2013
Hello fellow trades. I was looking to get some insight on a particular trade I took May 16, 2014. -My overall bias was Bearish with the long term trend trending Down (not shown). -Price made a Double AB=CD move into strong structure and Round Number (1.8300). (one big AB=CD followed by a confirming smaller AB=CD, marked kill Zone in the first Green Box) -I entered short after conpletion on the confirming bearish bar circled on the chart. Even though Price looked to be gaining momentum, I seen that the two bars respected the 1.83 level and was confident...
did you have resistance in the PRZ?
  • #8,948
  • May 27, 2014 8:25am May 27, 2014 8:25am
A bat pattern has formed in 1hr AUD/NZD
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s
  • #8,949
  • May 27, 2014 8:39am May 27, 2014 8:39am
Potential ABCD Pattern on GBPUSD. Price pierced the 61.8% retracement of the AB leg. I entered a semi-aggressive C entry after an 8hr BEOB closing below structure. The PRZ is at the confluence point of the 100% expansion of the ABC swing, the 138.2% extension of the AB leg, and structure.

Thoughts?
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  • #8,950
  • May 27, 2014 9:11am May 27, 2014 9:11am
Quoting Mack2013
{quote} Nice vid.... Being a trader is definately a thousand times better then operating a shovel or listening to an idiot in a white hat. I would never go back.
better than a shovel? cmon. you can make pro athlete money without working pro athlete hours. banking off the future like a seer strategist. a pro trader has more swag than anyone in my opinon. a person fully in command of their life.

just sayin atleast think its the coolest thing ever lol don't relate as above a dude with a shovel
  • #8,951
  • May 27, 2014 9:14am May 27, 2014 9:14am
Quoting dargane
Potential ABCD Pattern on GBPUSD. Price pierced the 61.8% retracement of the AB leg. I entered a semi-aggressive C entry after an 8hr BEOB closing below structure. The PRZ is at the confluence point of the 100% expansion of the ABC swing, the 138.2% extension of the AB leg, and structure. Thoughts? {image}
an enter anywhere close to the B point is way too late if your trying to take agro C down. it needs to be taken at the top of C or else risk/reward situation is a messy one. takes lots of chart time to get the feel for when C's are happening

also mega structure here price could turn around before continuing downwards, if in fact that's what it wants to do
  • #8,952
  • May 27, 2014 9:22am May 27, 2014 9:22am
Quoting dargane
Potential ABCD Pattern on GBPUSD. Price pierced the 61.8% retracement of the AB leg. I entered a semi-aggressive C entry after an 8hr BEOB closing below structure. The PRZ is at the confluence point of the 100% expansion of the ABC swing, the 138.2% extension of the AB leg, and structure. Thoughts? {image}
yeah done in hindsight but you have an obvious ABCD with fib retracement and ext.

scale down in timeframe for a set up like this
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  • #8,953
  • May 27, 2014 9:35am May 27, 2014 9:35am
A potential bullish bat pattern may form in 30 mins EUR/USD.
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s
  • #8,954
  • May 27, 2014 9:41am May 27, 2014 9:41am
Quoting shahidfx
A potential bullish bat pattern may form in 30 mins EUR/USD. {image}
watch out
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  • #8,955
  • May 27, 2014 9:47am May 27, 2014 9:47am
Quoting FineForex
{quote} better than a shovel? cmon. you can make pro athlete money without working pro athlete hours. banking off the future like a seer strategist. a pro trader has more swag than anyone in my opinon. a person fully in command of their life. just sayin atleast think its the coolest thing ever lol don't relate as above a dude with a shovel
Absolutely. I totally agree being a trader is a thousand times better. What’s even better is that I enjoy trading. I don't enjoy digging a trench. In my opinion, spending 12 hrs. on a shovel is a waste of a life.
  • #8,956
  • May 27, 2014 9:54am May 27, 2014 9:54am
Quoting Mack2013
{quote} Absolutely. I totally agree being a trader is a thousand times better. What’s even better is that I enjoy trading. I don't enjoy digging a trench. In my opinion, spending 12 hrs. on a shovel is a waste of a life.
its fun man. this learning curve is definitely more painful than learning most other things, something I definitely underestimated at first. but when it works I don't know of anything cooler
  • #8,957
  • May 27, 2014 9:57am May 27, 2014 9:57am
Quoting Mack2013
{quote} Absolutely. I totally agree being a trader is a thousand times better. What’s even better is that I enjoy trading. I don't enjoy digging a trench. In my opinion, spending 12 hrs. on a shovel is a waste of a life.
s
  • #8,958
  • May 27, 2014 10:03am May 27, 2014 10:03am
Quoting FineForex
{quote} watch out {image}
A point to be noted thanks.
s
  • #8,959
  • May 27, 2014 10:37am May 27, 2014 10:37am
Quoting FineForex
{quote} did you have resistance in the PRZ?
yeah there was some structure that I thought had some significance. GBPCAD May 16, 2014. Its the Blue Box. I used a 30 min chart so its clear but my entry was on the 5 min.

I had 2 very close Demand Levels. the One in Blue but then there was one right above it (which I didn't mark)

With Headfakes assistance , I think I know where I went wrong.

"Now looking back at it, you’re right. The momentum was to strong. The long range bar with a small body should have been a clue that there was high volatility in price action lowering the probability of success in gauging either direction. I think I was faked out when the long ranged bar closed below the 1.8300 handle. Also the deep projection creating a HH, as you mentioned, was definitely a clue."



Headfake also mentioned that when price decided to make a HH in the Long term order flow, I should have been more cautious. Price was talking, but I wasn't listening. Expensive lesson that I’m still trying to learn.

I think I have a good grasp with the methodology of price action, structure, order flow and harmonics but sometimes I make some stupid mistakes. Mostly emotional or impulsive. My biggest issue is how to keep my losses as small as possible. I wouldn't mind increase my win rate as well. I still have a lot to learn.

http://icmarkets.ctrader.com/images/screens/Prknn.png
  • #8,960
  • May 27, 2014 10:39am May 27, 2014 10:39am
Quoting Mack2013
{quote} yeah there was some structure that I thought had some significance. GBPCAD May 16, 2014. Its the Blue Box. I used a 30 min chart so its clear but my entry was on the 5 min. With Headfakes assistance , I think I know where I went wrong. "Now looking back at it, you’re right. The momentum was to strong. The long range bar with a small body should have been a clue that there was high volatility in price action lowering the probability of success in gauging either direction. I think I was faked out when the long ranged bar closed below the 1.8300...
how do you feel in terms of coordinating short term and long term orderflow?

understanding this really pushed me forward
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