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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

  • #9,141
  • Jun 24, 2014 11:53am Jun 24, 2014 11:53am
Quoting Mack2013
{quote} Looks like I'm late to the party. {image}
What's up Mack
If you fail to plan, you plan to fail.
  • #9,142
  • Jun 24, 2014 11:54am Jun 24, 2014 11:54am
Quoting Mack2013
{quote} Looks like I'm late to the party. {image}
Bravo!!!!!
If you fail to plan, you plan to fail.
  • #9,143
  • Jun 24, 2014 11:55am Jun 24, 2014 11:55am
Quoting Mr. Pip
{quote} Nice work Mr. Scott can you tell me more. I wish I could get some more participation here.
Thank you Mr. Pip,

Going to be heading out for a few, but looks like you just got it.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #9,144
  • Jun 24, 2014 11:56am Jun 24, 2014 11:56am
Quoting Mr. Scott
{quote} Thank you Mr. Pip, Going to be heading out for a few, but looks like you just got it.
yeah looked at your chart well done!
If you fail to plan, you plan to fail.
  • #9,145
  • Jun 24, 2014 12:06pm Jun 24, 2014 12:06pm
My expectation on this correction is for price to stay below 1.6985 area on the Cable
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (233 Tick) 6_24_2014.jpg Size: 159 KB
If you fail to plan, you plan to fail.
  • #9,146
  • Jun 24, 2014 12:16pm Jun 24, 2014 12:16pm
Where is price going? what would be the expectation.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 6_24_2014 2.jpg Size: 164 KB
If you fail to plan, you plan to fail.
  • #9,147
  • Jun 24, 2014 12:21pm Jun 24, 2014 12:21pm
Mr. Pip.

As far for your projected up targets, am I correct in assuming that the targets will be a measurement of the completed AB-CD leg
if price goes down there ?. The first target will be the 61,8 and the following if price goes up 127/138 area ?

Regards,

Hans
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 59 KB
"The future is already written in the past"
  • #9,148
  • Jun 24, 2014 12:26pm Jun 24, 2014 12:26pm
Quoting Mr. Pip
Where is price going? what would be the expectation. {image}
I see 2 possabilities. both involve Price traveling to the 1.36 handle. I would monitor the strength on approach to modify my expectations as needed. The reason I expect price to give up some more Upwards terriotory is the PA strength from the Bulls on the current swing

sorry my charting package doesn't have arrows. I guess it wasn't in the budget

http://icmarkets.ctrader.com/images/screens/Ymfnn.png
  • #9,149
  • Jun 24, 2014 12:33pm Jun 24, 2014 12:33pm
Quoting hansma
Mr. Pip. As far for your projected up targets, am I correct in assuming that the targets will be a measurement of the completed AB-CD leg if price goes down there ?. The first target will be the 61,8 and the following if price goes up 127/138 area ? Regards, Hans {image}
There is a basic expectation for price to complete at least a 1:1 harmonic move but that alone isn't enough. We must look to find the confluence in the area that will help us determine where price should reverse. Price tends to follow the path of least resistance most of the time and the stronger the barrier (most confluence) the better the probability that price will turn there.

Having an expectation even on the correction lets you know if price is strengthening or weakening for or against your expectation an that is very important when it comes down to decision making.
If you fail to plan, you plan to fail.
  • #9,150
  • Jun 24, 2014 12:35pm Jun 24, 2014 12:35pm
Quoting Mr. Pip
Where is price going? what would be the expectation. {image}
First post here. Sorry no patterns drawn. Please excuse the ma's, just a little thing I'm working on. The fibs are what I go by.
Attached Image (click to enlarge)
Click to Enlarge Name: !t-eurusdmm233.png Size: 93 KB
Ghost Rider - WWTBMD?
  • #9,151
  • Jun 24, 2014 12:37pm Jun 24, 2014 12:37pm
Quoting Mr. Pip
{quote} This is not a Bat pattern per the rule I use your first correction did not achieve a min 50%. that is not to say that we do not have a good possible long coming up on the cable. You see this is why since the beginning I said not to focus on the patterns but to focus on what the chart is telling you. Just because there is not a pattern doesn't mean there is not a good trading opportunity. Let me ask this out loud why would I consider a long in the cable around 1.6950 and the answer is not the round number(but it does add confluence ).
Sorry Mr. Pip, I came in too late. Could've participated. I was too much in my head with the patterns and was trying to FIT the pattern. I will loosen up a bit and try to bring in all the other factors suggested by you. (confluence, structures, price making its way through the path of least resistance, and then the patterns). I am stumbling hard, but will keep at it. Thanks.
I follow only one person and his strategies...
  • #9,152
  • Jun 24, 2014 12:39pm Jun 24, 2014 12:39pm
Quoting Mack2013
{quote} I see 2 possabilities. both involve Price traveling to the 1.36 handle. I would monitor the strength on approach to modify my expectations as needed. The reason I expect price to give up some more Upwards terriotory is the PA strength from the Bulls on the current swing sorry my charting package doesn't have arrows. I guess it wasn't in the budget {image}
in the budget that was a good one!!! I agree with your expectation, price should at the very least come back to the 1.3600 structure area but it's overall intention might be to get higher to 1.3610 area. I expect for price to stay bearish overall and attempt to take out the lows.
If you fail to plan, you plan to fail.
  • #9,153
  • Jun 24, 2014 12:41pm Jun 24, 2014 12:41pm
Quoting albchr
{quote} First post here. Sorry no patterns drawn. Please excuse the ma's, just a little thing I'm working on. The fibs are what I go by. {image}
At minimum you are correct.
If you fail to plan, you plan to fail.
  • #9,154
  • Jun 24, 2014 12:43pm Jun 24, 2014 12:43pm
Quoting chotabheem
{quote} Sorry Mr. Pip, I came in too late. Could've participated. I was too much in my head with the patterns and was trying to FIT the pattern. I will loosen up a bit and try to bring in all the other factors suggested by you. (confluence, structures, price making its way through the path of least resistance, and then the patterns). I am stumbling hard, but will keep at it. Thanks.
You will only fail if you give up!
If you fail to plan, you plan to fail.
  • #9,155
  • Jun 24, 2014 12:45pm Jun 24, 2014 12:45pm
Quoting Mr. Pip
{quote} At minimum you are correct.
If it crosses 3600 I'd expect 3610/15. Don't see it much more than that at this point.
Ghost Rider - WWTBMD?
  • #9,156
  • Jun 24, 2014 12:46pm Jun 24, 2014 12:46pm
Quoting Mr. Pip
{quote} There is a basic expectation for price to complete at least a 1:1 harmonic move but that alone isn't enough. We must look to find the confluence in the area that will help us determine where price should reverse. Price tends to follow the path of least resistance most of the time and the stronger the barrier (most confluence) the better the probability that price will turn there. Having an expectation even on the correction lets you know if price is strengthening or weakening for or against your expectation an that is very important when...
Hi Mr Pip.

I think I get most of what your saying - however I have to translate it into my own language since english is not my native language. Could I ask you
to post a chart with your above explanation on it. I learn much better from pictures. Of course only if you have time for it to do so.

Thank you

Hans
"The future is already written in the past"
  • #9,157
  • Jun 24, 2014 12:48pm Jun 24, 2014 12:48pm
Quoting albchr
{quote} If it crosses 3600 I'd expect 3610/15. Don't see it much more than that at this point.
Completely agree!
If you fail to plan, you plan to fail.
  • #9,158
  • Jun 24, 2014 12:52pm Jun 24, 2014 12:52pm
Quoting Mr. Pip
{quote} Completely agree!
Thank you Mr. Pip. That's very comforting to know. I have quietly lurked and studied your thread since Mr. Scott directed me here. Much to learn yet but many thanks for the wonderful work you do and share here.
Ghost Rider - WWTBMD?
  • #9,159
  • Jun 24, 2014 1:03pm Jun 24, 2014 1:03pm
Quoting hansma
{quote} Hi Mr Pip. I think I get most of what your saying - however I have to translate it into my own language since english is not my native language. Could I ask you to post a chart with your above explanation on it. I learn much better from pictures. Of course only if you have time for it to do so. Thank you Hans
Trading is about expectations and probabilities. We expect for price to behave in accordance with basic expectations. The most basic of expectations is for swings to have equal distance moves the majority of the time. You will of come across abnormal circumstances from time to time but for the most part this is true of the markets whatever they may be. Once you have figured this out, it become somewhat easy to have a realistic and achievable target.

The order flow making up that swing or swing will help you determine whether you should extend your target or cut it short.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPNZD (233 Tick) 6_24_2014 1.jpg Size: 204 KB
If you fail to plan, you plan to fail.
  • #9,160
  • Jun 24, 2014 1:07pm Jun 24, 2014 1:07pm
Well I wasn't expecting that much of strength from the Bulls

After that much strength, my expectation is for some movemnt up. The wick is almost a 1/3 of the candle so I'm expecting a retest of candle highs (1.36200)

http://icmarkets.ctrader.com/images/screens/cmfnn.png
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