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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

  • #10,381
  • Sep 11, 2014 1:24pm Sep 11, 2014 1:24pm
Quoting jpnavigate
{quote} After closer inspection, a Gartley if the candle on the BC leg that pierced the 78.6% fib failed to close above. So, where do you expect price to go? Oh, one more thing...per Mr Pip's rules for the thread, would you be so kind as to remove your indicators?
Apologies for the indi's , I'm not very good with computer and just wanted to post quickly hoping it may benefit someone . I am just a learner , I was hoping it would go to the marked area , but don't look like it's gonna get there anytime soon ,although it's getting closer . I made over 100 pips from the two charts (C entries ), and now short on E/cad , fingers crossed .
  • #10,382
  • Sep 11, 2014 1:29pm Sep 11, 2014 1:29pm
Quoting jpnavigate
{quote} Take the trade?
nah, waited for the completion of the BAT's missed the easy ABCD pattern. Damn oh well looking for the next. Nopefully get another opportunity by the end of day
  • #10,383
  • Sep 11, 2014 2:49pm Sep 11, 2014 2:49pm
Quoting fxyogi17
Hey everyone Here is the CAD/JPY that I posted a while ago how do you think its going to play out? {image}
Was the BC leg at least a 61.8% retracement of AB? If so, then you've got yourself a Gartley. Either way, looks like you may get another 1 to 1 move on the XA leg. I say that because the XA leg looks like it was a 1 to 1 of the previous swing. Also, price has rejected, fairly significantly, the 78.6 fib level. This level coincides with a supply zone. Happy trading!

FYI - per Mr. Pip's rules, please get rid of your indicators...at least when you post here.
  • #10,384
  • Sep 11, 2014 2:51pm Sep 11, 2014 2:51pm
Quoting robuk
{quote} Apologies for the indi's , I'm not very good with computer and just wanted to post quickly hoping it may benefit someone . I am just a learner , I was hoping it would go to the marked area , but don't look like it's gonna get there anytime soon ,although it's getting closer . I made over 100 pips from the two charts (C entries ), and now short on E/cad , fingers crossed .
No worries. Just trying to maintain the integrity of the thread. Congrats on the good trades. Are you trading real money or demo (just curious)?
  • #10,385
  • Sep 11, 2014 2:52pm Sep 11, 2014 2:52pm
Quoting Mack2013
{quote} nah, waited for the completion of the BAT's missed the easy ABCD pattern. Damn oh well looking for the next. Nopefully get another opportunity by the end of day
Darn! Mind posting a chart? I'm at work and don't have access to any trading software. Otherwise, I would take a look myself.
  • #10,386
  • Sep 11, 2014 2:57pm Sep 11, 2014 2:57pm
Quoting jpnavigate
{quote} No worries. Just trying to maintain the integrity of the thread. Congrats on the good trades. Are you trading real money or demo (just curious)?
Real Money , but only pennies .
  • #10,387
  • Sep 11, 2014 4:49pm Sep 11, 2014 4:49pm
Hi everyone,

I was dabbling in the 5minute time frame today for the EUR/USD looks like a lot of harmonic patterns in the mix. I was able to bank about 29 pips on an bearish AB=CD Pattern, but I missed a second AB=CD Bullish pattern.

I took profits at the .50 retracement of the total AD, I had initially set it at .618 which would have resulted in about 34 pips. I panicked and got out too early, only to find price pierce my target at .618 an hour or so later.

Hopefully this will bring up the discussion on when to get out of trade and how you do it (scaling).

Also how would you have taken the bullish AB=CD later in the day, and where would you set your profit targets.

Thanks guys happy trading!

P.S sorry about the indicators
Attached Image (click to enlarge)
Click to Enlarge Name: AB=CDquestion.png Size: 113 KB
  • #10,388
  • Sep 11, 2014 4:51pm Sep 11, 2014 4:51pm
Quoting jpnavigate
{quote} Was the BC leg at least a 61.8% retracement of AB? If so, then you've got yourself a Gartley. Either way, looks like you may get another 1 to 1 move on the XA leg. I say that because the XA leg looks like it was a 1 to 1 of the previous swing. Also, price has rejected, fairly significantly, the 78.6 fib level. This level coincides with a supply zone. Happy trading! FYI - per Mr. Pip's rules, please get rid of your indicators...at least when you post here.
Hi JP thanks for the response.

Yes the BC leg was just slightly over a 61.8% retracement of AB leg....I am not sure I understand when you say " looks like you may get another 1 to 1 move on the XA leg. I say that because the XA leg looks like it was a 1 to 1 of the previous swing." an explanation would be greatly appreciated, I spent like 5 hours writing an ethics paper may have used up all my brains resources.

Thanks!
  • #10,389
  • Sep 11, 2014 6:57pm Sep 11, 2014 6:57pm
Quoting fxyogi17
Hi everyone, I was dabbling in the 5minute time frame today for the EUR/USD looks like a lot of harmonic patterns in the mix. I was able to bank about 29 pips on an bearish AB=CD Pattern, but I missed a second AB=CD Bullish pattern. I took profits at the .50 retracement of the total AD, I had initially set it at .618 which would have resulted in about 34 pips. I panicked and got out too early, only to find price pierce my target at .618 an hour or so later. Hopefully this will bring up the discussion on when to get out of trade and how you do it...
Hello hello

Just throwing my 2 cents in there but this would be what I would be thinking (in the Chart). Hindsight is always 20 / 20 and with that sight I would play every set up perfectly . With that being said. I probably would have never got involved in the Bullish AB=CD just because I would of waited for price to go alittle lower into my Kill Zone.

But this would of been the perfect Play. Oh yeah, I would of been conservative with my price targets just because of the weak reaction to start the Bullish swing to profit targets and the Bullish swing has a lot of fight in it so its pretty weak. Its unclear who would be the winner. The probability of the Bulls fighting to target 2's is unlikely, better to play the odds.

Sorry if my charts confusing. theres alot of information. But in summary the 2 bullish bars with rejections would of been good triggers just the risk to reward sucks better to wait for a good entry rather then chase price.

https://www.tradingview.com/x/7SG2kPil/
  • #10,390
  • Sep 11, 2014 7:13pm Sep 11, 2014 7:13pm
Quoting jpnavigate
{quote} Darn! Mind posting a chart? I'm at work and don't have access to any trading software. Otherwise, I would take a look myself.
Sorry for the delay, I left for the gym (to work out my frustration kickboxing ). This is what I was pretty much looking at. I took out all the the fibs to make it clearer. But Price was pretty bullish and the Pullback was looking weak. I was looking for long entries but missed the most obvious ABCD (in Blue). Oh well. Theres always tomorrow

https://www.tradingview.com/x/6XdLSMVC/
  • #10,391
  • Sep 11, 2014 8:10pm Sep 11, 2014 8:10pm
Quoting robuk
{quote} Real Money , but only pennies .
Sweet!
  • #10,392
  • Sep 12, 2014 5:23am Sep 12, 2014 5:23am
I would very much appreciate if someone could help me with this . On the chart which would be the correct ' X ' position ?
Attached Image (click to enlarge)
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  • #10,393
  • Sep 12, 2014 6:35am Sep 12, 2014 6:35am
Quoting robuk
I would very much appreciate if someone could help me with this . On the chart which would be the correct ' X ' position ?{image}
Remember, to identify the main swing, find the lowest low and the highest high of the move. I would say that this new bullish uptrend is the leg you want to focus on.
  • #10,394
  • Sep 12, 2014 6:36am Sep 12, 2014 6:36am
Quoting robuk
I would very much appreciate if someone could help me with this . On the chart which would be the correct ' X ' position ?{image}
Hell robuk,
My knowledge is far from vast on these patterns but I thought I would chip in with my view.
There is no 'X' position on your chart (yet). You have 3 swings on your chart: swing 2 exceeds swing 1, and swing 3 exceeds swing 2. 'X' is identifiable when 'B' is seen as a swing high or low between specific fibs of the preceding swing and does not exceed 'X'. As each of the swings is bigger than the one preceding it, there is no 'X'.
Would anyone please educate me if I'm wrong.
Kan
Thanks for your help, warmth and straight talking Heather.
  • #10,395
  • Sep 12, 2014 7:06am Sep 12, 2014 7:06am
Quoting Kanderpro
{quote} Hell robuk, My knowledge is far from vast on these patterns but I thought I would chip in with my view. There is no 'X' position on your chart (yet). You have 3 swings on your chart: swing 2 exceeds swing 1, and swing 3 exceeds swing 2. 'X' is identifiable when 'B' is seen as a swing high or low between specific fibs of the preceding swing and does not exceed 'X'. As each of the swings is bigger than the one preceding it, there is no 'X'. Would anyone please educate me if I'm wrong. Kan
Good job! I would add that the new bullish swing nullifies the previous two swings. We have to wait and see what kind of retracement will occur from this bullish swing now. But, overall, you're right, there isn't an "X" yet.
  • #10,396
  • Sep 12, 2014 7:33am Sep 12, 2014 7:33am
Quoting robuk
I would very much appreciate if someone could help me with this . On the chart which would be the correct ' X ' position ?{image}
Thanks for replies . I don't think I explained the question too well . So, ignoring the right hand side of the chart and just looking at the two boxes and the subsequent downswing on the left , which ( if any ) of the two boxes would be correct for placing X.
  • #10,397
  • Sep 12, 2014 7:52am Sep 12, 2014 7:52am
Quoting robuk
{quote} Thanks for replies . I don't think I explained the question too well . So, ignoring the right hand side of the chart and just looking at the two boxes and the subsequent downswing on the left , which ( if any ) of the two boxes would be correct for placing X.
You really don't know whether you have an X or an A until the C point forms. So, ignoring the latest bullish impulse, see my chart below. Your point 1 is either X or A.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB
  • #10,398
  • Sep 12, 2014 8:08am Sep 12, 2014 8:08am
Quoting jpnavigate
{quote} You really don't know whether you have an X or an A until the C point forms. So, ignoring the latest bullish impulse, see my chart below. Your point 1 is either X or A. {image}
Yes , thanks , I know that already ,but I am asking -- if one of my boxes does turn out ultimately to be X , which is the correct point to draw the fibo from , box 1 or 2 ?
  • #10,399
  • Sep 12, 2014 8:23am Sep 12, 2014 8:23am
Quoting robuk
{quote} Yes , thanks , I know that already ,but I am asking -- if one of my boxes does turn out ultimately to be X , which is the correct point to draw the fibo from , box 1 or 2 ?
Apologies for the confusion. Box 1.
  • #10,400
  • Sep 12, 2014 8:34am Sep 12, 2014 8:34am
Quoting jpnavigate
{quote} Apologies for the confusion. Box 1.
Thankyou , I know these patterns have so be so accurate .
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