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Ratios & Harmonics: a Different Way to Trade

  • #10,101
  • Aug 7, 2014 11:01am Aug 7, 2014 11:01am
Quoting chotabheem
GBPNZD M5 ab=cd (38.2%) aggressive C short. (noted in Black line segments) short entered at 1.98975. {image} (am also observing a legit ABCD in the making, and a long at the agro C but still I guess the short in ab=cd (38.2%) should hold). (noted in orange line segments)
GBPNZD M5 ab=cd (38.2%) aggressive C short update,

Price has reached the 50% of the CD leg, SL adjusted to BE,

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I follow only one person and his strategies...
  • #10,102
  • Aug 7, 2014 1:15pm Aug 7, 2014 1:15pm
Quoting chotabheem
{quote} update 2 on the GBPCHF M5 abcd call :- abcd aggressive C short, completed 100% of the CD leg. (entered at 1.53320 and closed at 1.52800). {image} {image} {image}
Nice trade - was trying to see where it actually went. And it reversed right at 127 level. Amazing. Good trade call Chotabheem

Regards,

Hans
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"The future is already written in the past"
  • #10,103
  • Aug 7, 2014 1:28pm Aug 7, 2014 1:28pm
Quoting hansma
{quote} Nice trade - was trying to see where it actually went. And it reversed right at 127 level. Amazing. Good trade call Chotabheem Regards, Hans {image}
thanks, yeah I saw that 127 reversal too, that was really nice.
I follow only one person and his strategies...
  • #10,104
  • Aug 7, 2014 6:00pm Aug 7, 2014 6:00pm
Hey guys,

I just joined the thread I've been going through the videos and I am drawn to this type of trading. I was wondering if anyone could give me advice on the follow drawing I am trying to set up an AB=CD, I don't care if the pattern comes to fruition, I just want to know if my "possible D" at the 1.272 expansion of BC is correct.

Thanks!!
Attached Image (click to enlarge)
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  • #10,105
  • Aug 7, 2014 7:40pm Aug 7, 2014 7:40pm
Quoting fxyogi17
Hey guys, I just joined the thread I've been going through the videos and I am drawn to this type of trading. I was wondering if anyone could give me advice on the follow drawing I am trying to set up an AB=CD, I don't care if the pattern comes to fruition, I just want to know if my "possible D" at the 1.272 expansion of BC is correct. Thanks!! {image}
If so, expect a 127%, especially if you see the confluence between the ratios. very important, for me, is the support and YL DZ left.
greetings
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  • #10,106
  • Aug 7, 2014 7:45pm Aug 7, 2014 7:45pm
Hi there Pampaq,

Sorry I am not familiar with the YL and DZ, could you elaborate briefly??
  • #10,107
  • Aug 7, 2014 7:56pm Aug 7, 2014 7:56pm
Quoting chotabheem
GBPNZD M5 ab=cd (38.2%) aggressive C short. (noted in Black line segments) short entered at 1.98975. {image} (am also observing a legit ABCD in the making, and a long at the agro C but still I guess the short in ab=cd (38.2%) should hold). (noted in orange line segments)
It could be, see, Greetings
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  • #10,108
  • Aug 7, 2014 8:21pm Aug 7, 2014 8:21pm
Hello Traders,

Update on my trade, Locked in 20 pips as I almost got filled on the ABCD completion. Another beautiful simple profitable trade. Expectations are powerful and I encourage everyone to use them and as I'm typing my profit target got hit. Would not look to trade the completion as price is accelerating. Will look for longs around 1.6790 where the butterfly completes.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $GBPUSD (144 Tick) 8_7_2014.jpg Size: 133 KB
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If you fail to plan, you plan to fail.
  • #10,109
  • Aug 7, 2014 8:26pm Aug 7, 2014 8:26pm
Nice 30 pips trade on 5 lots.

It was my only trade of the day as I was tied up in the morning.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (144 Tick) 8_7_2014 3.jpg Size: 129 KB
If you fail to plan, you plan to fail.
  • #10,110
  • Edited Aug 8, 2014 6:45am Aug 7, 2014 9:12pm | Edited Aug 8, 2014 6:45am
Quoting Mr. Pip
Hello Traders, Update on my trade, Locked in 20 pips as I almost got filled on the ABCD completion. Another beautiful simple profitable trade. Expectations are powerful and I encourage everyone to use them and as I'm typing my profit target got hit. Would not look to trade the completion as price is accelerating. Will look for longs around 1.6790 where the butterfly completes. {image} {image}
We're in, we'll see, greetings, teacher

+24 Pips, part at 38% and let them run up to 61%, Greetings.
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  • #10,111
  • Aug 7, 2014 9:21pm Aug 7, 2014 9:21pm
Quoting Mr. Pip
Nice 30 pips trade on 5 lots. It was my only trade of the day as I was tied up in the morning. {image}
Nice trade. I took that one as well but exited when price started to stall out at 1.68275. +16 pips. Had to do some drywall so I couldn't monitor. Take what I can get.

I commend you for holding on.
  • #10,112
  • Aug 7, 2014 10:00pm Aug 7, 2014 10:00pm
Quoting pampaq
{quote} We're in, we'll see, greetings, teacher {image}
to BE and to sleep, Greetings
  • #10,113
  • Aug 7, 2014 10:04pm Aug 7, 2014 10:04pm
Quoting pampaq
{quote} to BE and to sleep, Greetings
good luck
  • #10,114
  • Aug 8, 2014 3:21am Aug 8, 2014 3:21am
GBPCAD M5

ab=cd 78.6%(and an abcd in M1 towards the completion of the ab=cd 78.6%)

Attached Image (click to enlarge)
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I follow only one person and his strategies...
  • #10,115
  • Aug 8, 2014 3:37am Aug 8, 2014 3:37am
Quoting Mr. Pip
Nice 30 pips trade on 5 lots. It was my only trade of the day as I was tied up in the morning. {image}
Hi Mr. Pip,
I would like to ask you with much curiosity.
1.Why did you entered short at the 50% retracement and not between 61.8 and 78.6 % retracement as it should be in an C Aggresive trade.
2. Why did you put your SL around the 88.6% level and not above X point as per your rules ?
3. How about those trades like this that you trade at the 50% level, how you decide where to put your SL ?

Many many many thanks !
  • #10,116
  • Aug 8, 2014 4:28am Aug 8, 2014 4:28am
Quoting chotabheem
GBPCAD M5 ab=cd 78.6%(and an abcd in M1 towards the completion of the ab=cd 78.6%) {image}
update :- the abcd in M1 achieved it's 61.8% tp and then price tanked down and created a new low.

SL is placed below previous structure in H1 at 1.83380.

Attached Image (click to enlarge)
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I follow only one person and his strategies...
  • #10,117
  • Aug 8, 2014 7:39am Aug 8, 2014 7:39am
Quoting chotabheem
{quote} update :- the abcd in M1 achieved it's 61.8% tp and then price tanked down and created a new low. SL is placed below previous structure in H1 at 1.83380. {image}
sl taken out at 1.83380 and then price blasted upwards, another perspective on this pair would be nice, someone plz..
(typical SL should have been at 161.8% but I entered a bit late so I had to place the SL below the structure). Something must've gone wrong as price dug way below my expected PRZ, twice.

Attached Image (click to enlarge)
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I follow only one person and his strategies...
  • #10,118
  • Aug 8, 2014 7:49am Aug 8, 2014 7:49am
hello Mr.Pip,

could you please provide some rules of engagement for ab=cd. Especially the stoploss part. The whole ab=cd move could be unorthodox but some orientation on this would really be helpful. So, far I have been taking a reasonable stoploss, (stoploss below a previous structure at the same time giving an 1:1.5 RR), but if you could shed more light on this it would really be nice.
I follow only one person and his strategies...
  • #10,119
  • Aug 8, 2014 7:57am Aug 8, 2014 7:57am
Quoting chotabheem
{quote} sl taken out at 1.83380 and then price blasted upwards, another perspective on this pair would be nice, someone plz.. (typical SL should have been at 161.8% but I entered a bit late so I had to place the SL below the structure). Something must've gone wrong as price dug way below my expected PRZ, twice. {image}
The GBPCAD is a real mover. It likes to sleep then BAM!!! Whips both ways as Supply and Demand hit the market on news events. Call it stop hunting or whatever but I've notice this to happen alot on this pair. Price is to easy to move. I use to trade it. Really good signals (as PA goes) and follows the harmonics well but I couldn't take the pain of having my stops further then ussual.
  • #10,120
  • Aug 8, 2014 8:02am Aug 8, 2014 8:02am
Quoting LuisPrinc
{quote} Hi Mr. Pip, I would like to ask you with much curiosity. 1.Why did you entered short at the 50% retracement and not between 61.8 and 78.6 % retracement as it should be in an C Aggresive trade. 2. Why did you put your SL around the 88.6% level and not above X point as per your rules ? 3. How about those trades like this that you trade at the 50% level, how you decide where to put your SL ? Many many many thanks !
Hello Princ,

Quote
1.Why did you entered short at the 50% retracement and not between 61.8 and 78.6 % retracement as it should be in an C Aggresive trade.

There was a small ABCD ending at an area of structure. Price also showed weakness and hesitation. My expectation was a LH and then a NSL in accordance with the order flow and the larger pattern completion point. Refer to the first chart below and the arrow. Use the short term order flow to help you time your entry it confirms the longer term order flow.

Quote
2. Why did you put your SL around the 88.6% level and not above X point as per your rules ?

There is no X point where my trade was. There was the C leg of the overall pattern. Refer to second chart. I was trading harmonics on the way to the pattern completion. I do not sit around and wait for them to complete anymore. I take advantage of the shorter term order flow to maximize the efficiency of the patterns.

My SL was set there because If my analysis was correct then price should not be trading above the 78.6 I also had some thing to do and was not going to be watching it so risk control was important.

Quote
3. How about those trades like this that you trade at the 50% level, how you decide where to put your SL ?

That is a good question. Generally when you trade harmonic patterns there are simple clear areas where we place a protective stop. But how do we address trades outside or within the patterns we trade? For me the stop should go above or below the point that confirms your analysis is no longer valid and all of the reasons why you entered that trade are lo longer there. In short put it in an area you know price should not be trading at if your analysis is correct.
Attached Image(s) (click to enlarge)
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If you fail to plan, you plan to fail.
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