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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

  • #9,201
  • Jun 26, 2014 11:35am Jun 26, 2014 11:35am
Quoting Mack2013
GBPUSD Looking at a 1 to 1 completion with some ratio confluence AB 138.6% & 78.6% of the main leg. (Not a gartley tho. C point doesn't close above or touch 61.8 of the main leg. But a Bat is in play) 170.30 seems to be a strong area of resistance (Supply Level) I'm looking for the reversal at the ABCD tho. Its tight. Expectations: If we can get above 170.2, I'm expecting price to pullback around 170.30/35. If price doesn't break 170.2, I'm expecting price to retrace back to 1.7005 {image}
Good work!
If you fail to plan, you plan to fail.
  • #9,202
  • Edited 12:27pm Jun 26, 2014 12:02pm | Edited 12:27pm
Quoting Mr. Pip
{quote} Good work!
Thanks. It seems price is making som Higher lows on each retest so I suspect that the 1.70.20 will eventually fail. GBPUSD's made very few quality opportunities that I felt comfortable to trade today. I'm trying not to overtrade.

I sir, for one, appreciate your time and effort. But is one persons time woth anothers. Honestly probabale not. I owe you alot, you owe me nothing. Eventualy, with time, I expect that I'll be a hugely profitable trader and when I get there, I'll have people like you, FF, headfake, pampaq, kumaramy and others to thank.

Alot of time people dont want to post their expectation, cause they maybe wrong. I probably make enough stupid trades for all us
I've lost enough to send some MM's kid to college. hahahaha. Had to just throw that in there.
  • #9,203
  • Jun 26, 2014 12:06pm Jun 26, 2014 12:06pm
Quoting Mr. Pip
Well looks like some reading but no interest in learning and posting. I can't twist your arms there is a couple of you that contribute and that's about it. I threw out there 4 live calls with 4 wins and thought that it would spark a fire. I guess it's harder to ask traders to think these days and very little people are actually interesting in the power of learning to read the chart properly. Am I wasting my time?????? I definitely have other thing I can be doing....
Dear Mr Pip: A lot more people, a space here, since you've returned, I think many more, go back with a little more time.
Remember you promised teach us, on tickets, to trade. I could touch this issue.
Greetings and thanks. You, has been a brilliant mentor.
  • #9,204
  • Jun 26, 2014 12:29pm Jun 26, 2014 12:29pm
Quoting Mr. Pip
Well looks like some reading but no interest in learning and posting. I can't twist your arms there is a couple of you that contribute and that's about it. I threw out there 4 live calls with 4 wins and thought that it would spark a fire. I guess it's harder to ask traders to think these days and very little people are actually interesting in the power of learning to read the chart properly. Am I wasting my time?????? I definitely have other thing I can be doing....
Hi Mr. Pip,

I just came in from working outside for a short break and saw this. No sir, you are not wasting your time. My lack of posting here comes from my basic belief (respect) that when a quality thread, started and run by a truly talented trader is found, I don't like to clutter it up until I have something of value to share. So those reading it can do so quicker and with less confusion. As I am just beginning to learn from you here, I'm not sure that time has arrived??

I have no ego and as such, no problem looking silly with mistakes. One venture through my own corner here will bare that out I'm sure...

So if you feel it won't clutter the thread for others, I will start posting my thoughts. I do however focus on just the fibs, ratios and PA structure and not so much on "patterns" per say. If that's ok, I'd be happy to join in and be corrected as I learn. Much respect and many thanks.
Ghost Rider - WWTBMD?
  • #9,205
  • Jun 26, 2014 12:36pm Jun 26, 2014 12:36pm
Quoting GiovanniV
Today I have made ​​many mistakes on BAT EURUSD. I have not respected my rules. I did not wait the candle entering the confirmation in advance. I have not complied with the stop loss placing too far compared to the potential profit. I do not have respected myself causing me more than the loss of money the confidence in myself. I did not keep my emotions out of the market allowing my fear to win. Today I have been a real stupid idiot.
Maybe a little inspiration

"I'm on the pursuit of happiness and I know everything that shine ain't always gonna be gold, hey
I'll be fine once I get it, yeah
I'll be good."


https://www.youtube.com/watch?v=7xzU9Qqdqww
  • #9,206
  • Jun 26, 2014 12:50pm Jun 26, 2014 12:50pm
Quoting Mr. Pip
Well looks like some reading but no interest in learning and posting. I can't twist your arms there is a couple of you that contribute and that's about it. I threw out there 4 live calls with 4 wins and thought that it would spark a fire. I guess it's harder to ask traders to think these days and very little people are actually interesting in the power of learning to read the chart properly. Am I wasting my time?????? I definitely have other thing I can be doing....
Mr Pip.

I for one am very interested in learning how to read the charts properly. As for the chart posted I can see that there was an ABCD
earlier. However after I come home from work at the red line - pricaction is like this in the chart. My problem for not posting at the thread is
I don´t have any expectations of where price will go next if I was to trade this at all. My problem also is how far to go back looking for setups.

So there you have it - I for one am not just a reader, but eagerly take in what you teach. I hope you will continue your fine work and
maybe post some charts of the trades you have taken and the reason why and maybe post them on the thread for all to learn from afterwards.

Kind regards,

Hans
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh1.png Size: 70 KB
"The future is already written in the past"
  • #9,207
  • Jun 26, 2014 12:58pm Jun 26, 2014 12:58pm
Quoting Mack2013
{quote} Don’t be too hard on yourself, GiovanniV. But remember the feeling. Remember it, and use it as a reminder that you never want to feel like that again. Discipline is hard. I've struggled with the same thing. Sometimes you hang on to a loser and it reverses but sometimes it keeps running. Then emotions let loose. It may seem funny, but I’ve actually was screaming at my monitor and shaking it, telling myself that I'm not going to sell. I'll show the market and the puppet behind it.... Hahaha! What a delusion. Lol "Life is a strange and ruthless...


Thanks Mack
  • #9,208
  • Jun 26, 2014 1:06pm Jun 26, 2014 1:06pm
Quoting FineForex
{quote} whats your current expectations on gbpusd ?
I'm just wondering, is the first NSH that you indicate valid, as although there is a new high, we arent getting the close above the prior high.

Just aksing.
  • #9,209
  • Edited 1:33pm Jun 26, 2014 1:12pm | Edited 1:33pm
Well Price is at my Kill Zone. The swing up has been weak but there has been zero committment from the bears. It's like watching 2 kittens wrestle.

I took it short, expecting a pullback. Lets see if we can get some activity from the bears. If none, I'll exit and wait for more committment.

First target is 170.20/225 but I'm looking for a move back down to the 170.05

http://icmarkets.ctrader.com/images/screens/Sr5wn.png
  • #9,210
  • Jun 26, 2014 2:02pm Jun 26, 2014 2:02pm
HI all,
AUDUSD
C in supply zone
What do you think?



http://i1243.photobucket.com/albums/...ps1e706015.jpg

Alternative scenario
http://i1243.photobucket.com/albums/...ps820af798.jpg
  • #9,211
  • Jun 26, 2014 2:38pm Jun 26, 2014 2:38pm
Quoting Mr. Pip
Well looks like some reading but no interest in learning and posting. I can't twist your arms there is a couple of you that contribute and that's about it. I threw out there 4 live calls with 4 wins and thought that it would spark a fire. I guess it's harder to ask traders to think these days and very little people are actually interesting in the power of learning to read the chart properly. Am I wasting my time?????? I definitely have other thing I can be doing....
absolutely no Mr.Pip!
the time you spend with us is very very valuable!
  • #9,212
  • Jun 26, 2014 2:43pm Jun 26, 2014 2:43pm
Mr. Pip
I would like to break away from the concept of multi time frame analysis but I can not.
I would only use the 15-minute chart but am always tempted to look at the 4h or daily.
Often get to the point of not understand anything!

How can I learn to use a single time frame?
  • #9,213
  • Jun 26, 2014 2:50pm Jun 26, 2014 2:50pm
checking my trade in stop loss is not that they are almost all come from settings limit order.
Studying the book of Scott Carney, he says, after entering the T-BAR.

Mr. Pip, can you make me an example of a T-BAR?
What exactly should the price for you to come into the market?
  • #9,214
  • Jun 26, 2014 2:54pm Jun 26, 2014 2:54pm
Quoting Mr. Pip
Well the EURO also hit target, both trades from last night nailed with extreme precision. I'm not making this statement to brag about the abilities to read the chart but to make a point. My point is simple. Everything I said yesterday in my analysis and today did not change even when price struggled a bit in the EURO why is that? My approach remains the same as when we first started and I also always have an expectation of what should happen next. This is by far the most important tool you could ever develop as a trader. Having an...
Can you explain this concept with other examples?
  • #9,215
  • Jun 26, 2014 3:00pm Jun 26, 2014 3:00pm
Mr.Pip,
I have some questions for you that for me are very important.
1. Which is the first thing you do when you turn on the monitor in the morning?
2. How many hours do you work and when you take a break?
3. Which are the questions you ask yourself in front of a chart?
4. When you're in front of a graph, which are in order of importance to analyze things (trends, patterns, etc.)?
5. Well as the rules of the patterns that you have given us, there are others that you use for yourself?
6. Which are your rules for aggressive order on C?
  • #9,216
  • Jun 26, 2014 3:20pm Jun 26, 2014 3:20pm
Quoting Mr. Pip
Well looks like some reading but no interest in learning and posting. I can't twist your arms there is a couple of you that contribute and that's about it. I threw out there 4 live calls with 4 wins and thought that it would spark a fire. I guess it's harder to ask traders to think these days and very little people are actually interesting in the power of learning to read the chart properly. Am I wasting my time?????? I definitely have other thing I can be doing....
I have been happy to follow this thread in the background, its been a very long time since i posted for a multitude of reasons. Discovering Harmonics thanks to this thread has been the missing piece to my style of trading, am very much a technical trader. i do hope Mr Pip continues this thread. To show my support, here is one of my trades. Its taken me ages to work this out so please bare with me,

I hope its clear from the picture, this is a Gbp.Jpy trade based on the 4hr time frame, entry is based on the completion of an ab=cd pattern. I closed one lot of 97 pips at the 38.2 fib and left the other to run on, stop has been moved, and its now a free trade.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 16 KB


The second image is base on the 1hour time, Gbp.Jpy, i did not take this trade, i was fast asleep at the time, but i still want to point it out, as i did notice it, but i rarely place limit orders, it would have helped my bank balance but we cant catch them all... This was a completion of the abcd pattern.
Attached Image
  • #9,217
  • Jun 26, 2014 3:37pm Jun 26, 2014 3:37pm
Quoting Mack2013
Well Price is at my Kill Zone. The swing up has been weak but there has been zero committment from the bears. It's like watching 2 kittens wrestle. I took it short, expecting a pullback. Lets see if we can get some activity from the bears. If none, I'll exit and wait for more committment. First target is 170.20/225 but I'm looking for a move back down to the 170.05 {image}
Well, I got stopped out. Lower my stops to B/E then New swing High for +4 pips. Oh well. off to the dentist now
  • #9,218
  • Jun 26, 2014 4:29pm Jun 26, 2014 4:29pm
Quoting GiovanniV
Mr. Pip I would like to break away from the concept of multi time frame analysis but I can not. I would only use the 15-minute chart but am always tempted to look at the 4h or daily. Often get to the point of not understand anything! How can I learn to use a single time frame?
All you need to do is zoom out. All you need is there. Then zoom in to your desired view and engage.

When you zoom out you can see what is most important (Trend, Structure Analysis, Key S/R or S/D). Assess longer term possible harmonic formations and order flow expectations and locate the main swing currently in play. Then zoom in and look for your PRZ above and below current price. your next step is the most difficult, to sit there and wait for price to come to you. You should only consider trading outside of your predetermined PRZ if there is significant order flow that might suggest price will not reach your PRZ.
If you fail to plan, you plan to fail.
  • #9,219
  • Jun 26, 2014 4:30pm Jun 26, 2014 4:30pm
Quoting Mack2013
{quote} Well, I got stopped out. Lower my stops to B/E then New swing High for +4 pips. Oh well. off to the dentist now
Good luck with the dentist
If you fail to plan, you plan to fail.
  • #9,220
  • Jun 26, 2014 4:41pm Jun 26, 2014 4:41pm
Quoting GiovanniV
checking my trade in stop loss is not that they are almost all come from settings limit order. Studying the book of Scott Carney, he says, after entering the T-BAR. Mr. Pip, can you make me an example of a T-BAR? What exactly should the price for you to come into the market?
I don't use the T-bar show me a chart example and I will give you my feedback.
If you fail to plan, you plan to fail.
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