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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

  • #10,601
  • Edited 6:42am Nov 3, 2014 6:00am | Edited 6:42am
Here is a EURUSD trade I am currently in.

Attached Image (click to enlarge)
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There was no 1-1 projection to my entry. I lacked harmonic confluence in my entry area. This trade wasn't a strong one, but I took it anyway with a very low lot size because there was enough confluence (Well, at least that's what I think. >_<).

Another factor that is against me is that I forced the ABCD into the chart. Refer to the image below.

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Click to Enlarge Name: $EURUSD (100 Tick) 11_3_2014 (2).png Size: 86 KB


Well, we'll just see how it'll go later on.
  • #10,602
  • Nov 3, 2014 8:05am Nov 3, 2014 8:05am
Quoting Aj1
Nice to see you back D I am still following your thread, and still trading this way, following the rules you have set out. I have been trading live too, made some pips, and gave them back too. But I still believe in the system you have given us. There are some things that are taking there time to sink in, but I will keep trying. Having you here, and your continued dedication to help us is greatly appreciated. I know that you are busy with not only life, but your business, and I thank you for popping in even to say hello. Regards Aj1
This business has a strong relationship with giving and taking. But the best part is that it is entirely up to us how much we are going to take and give back. We will always have to give back at times and keeping the giving back to only what needs to be given will keep your grass greener.
If you fail to plan, you plan to fail.
  • #10,603
  • Edited 6:21pm Nov 3, 2014 8:36am | Edited 6:21pm
Update to my not so good EU trade:

I'm stuck in a consolidation. A breakout is inevitable, just don't know when exactly.

Attached Image (click to enlarge)
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Update:

Got out on BE.

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  • #10,604
  • Nov 3, 2014 9:41am Nov 3, 2014 9:41am
Hi Mr Pip,

I have just come across your thread and it appears to be exactly what I am looking for. I have noticed ABCD patterns form but only after the fact which doesn't help at all! I am looking forward to reading through the entire thread but would like to thank you for sharing your knowledge with us.
  • #10,605
  • Nov 3, 2014 10:57am Nov 3, 2014 10:57am
A pullback of 78%near MS in uptrend 5M, entering candlestick patterns, hammer and inverted hammer, see, Greetings
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  • #10,606
  • Nov 3, 2014 11:23am Nov 3, 2014 11:23am
Quoting pampaq
A pullback of 78%near MS in uptrend 5M, entering candlestick patterns, hammer and inverted hammer, see, Greetings {image}
Closing and adjusting SL part, when in doubt in BE
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  • #10,607
  • Nov 3, 2014 11:38am Nov 3, 2014 11:38am
Only one trade for me today. My timing wasn't great and price worked against me a bit but overall came out on top with 26.4 green pips. I got out on structure as price was showing more weakness then I wanted to see at that level and the level showed resting buyers in the last two attempts earlier in the day.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPNZD (144 Tick) 11_3_2014.jpg Size: 93 KB
If you fail to plan, you plan to fail.
  • #10,608
  • Nov 3, 2014 12:17pm Nov 3, 2014 12:17pm
http://www.youtube.com/watch?v=41Zjh3AirjU&feature=player_detailpage
If you fail to plan, you plan to fail.
  • #10,609
  • Nov 3, 2014 12:44pm Nov 3, 2014 12:44pm
Quoting Mr. Pip
Only one trade for me today. My timing wasn't great and price worked against me a bit but overall came out on top with 26.4 green pips. I got out on structure as price was showing more weakness then I wanted to see at that level and the level showed resting buyers in the last two attempts earlier in the day. {image}
Hi Mr Pip

that's a really interesting trade that you completed today.

May I ask what gave you the confidence to go short at the 50% level when the preceding order flow from the 30 mins prior to what is shown on your chart was up?

Unless im not reading this correctly the pullback at 10:16 was almost a 78% retracement of the previous upswing starting from 2.065,




Thanks

Regards

Chalky
  • #10,610
  • Nov 3, 2014 1:13pm Nov 3, 2014 1:13pm
The question was asked about a live trading session with everyone. This is still a goal of mine but I don't feel you are quite ready yet. I would like to see more participation and get this thread running at full steam again. I will table the idea for now and see how things go.

I want to raise the point of expectations. Expectations are extremely important to my trading and should be to your trading as well. Do you trade with expectations?

If you do then great if you don't then you probably feel a bit lost at times and have a feel that the market is random and unpredictable. What kind of trader are you? Are your expectation realistic? Do you hold onto or trade with unrealistic expectations?

If you do not know the answers to these questions then you are not in control of your trading and you are trading with emotional baggage which with hurt your account.

Who is in control of your trading?
If you fail to plan, you plan to fail.
  • #10,611
  • Nov 3, 2014 1:23pm Nov 3, 2014 1:23pm
Quoting claytonator
Hi Mr Pip, I have just come across your thread and it appears to be exactly what I am looking for. I have noticed ABCD patterns form but only after the fact which doesn't help at all! I am looking forward to reading through the entire thread but would like to thank you for sharing your knowledge with us.
Me too, I can find ABCD patterns in the past, now I'm focussing on finding them in real time...
I will begin posting soon...
veni vidi vici
  • #10,612
  • Nov 3, 2014 6:35pm Nov 3, 2014 6:35pm
Quoting Chalky600
{quote} Hi Mr Pip that's a really interesting trade that you completed today. May I ask what gave you the confidence to go short at the 50% level when the preceding order flow from the 30 mins prior to what is shown on your chart was up? Unless im not reading this correctly the pullback at 10:16 was almost a 78% retracement of the previous upswing starting from 2.065, Thanks Regards Chalky
I would be happy to but first I would like you to tell me why I was looking for a short in a bull market? Why did my expectations change? The answer is in the order flow. That was a helpful hint.
If you fail to plan, you plan to fail.
  • #10,613
  • Nov 3, 2014 6:37pm Nov 3, 2014 6:37pm
Quoting claytonator
Hi Mr Pip, I have just come across your thread and it appears to be exactly what I am looking for. I have noticed ABCD patterns form but only after the fact which doesn't help at all! I am looking forward to reading through the entire thread but would like to thank you for sharing your knowledge with us.
Welcome aboard! Keep reading through the thread and watch the videos. Start going through charts and they will start to stand out.
If you fail to plan, you plan to fail.
  • #10,614
  • Nov 3, 2014 6:43pm Nov 3, 2014 6:43pm
I am currently having a problem with expectations myself, Mr. Pip. I have watched your order flow video and your live trades where you demonstrated your expectations, and I have learned a lot from those videos, but I am having a hard time putting it into practice so far.

Please kindly look at my EURJPY chart and see if my expectations are correct. I need to know if I'm in the right direction regarding expectations. Thanks.

Attached Image (click to enlarge)
Click to Enlarge Name: $EURJPY (100 Tick) 11_4_2014 (1).png Size: 85 KB


EDIT:

Also, the PRZ is weak imo because the only confluences there are:

I. The AB Fib extensions 127.8 - 138.2
II. 1-1 Harmonic Projection

There is no confluence of structure within the PRZ, though there is a weak one on the 161.8 level.
Am I right in this analysis?
  • #10,615
  • Nov 3, 2014 7:06pm Nov 3, 2014 7:06pm
I have another rookie question. Hope You don't mind sir. Thanks.

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  • #10,616
  • Nov 3, 2014 7:08pm Nov 3, 2014 7:08pm
Quoting YoungCroc
I am currently having a problem with expectations myself, Mr. Pip. I have watched your order flow video and your live trades where you demonstrated your expectations, and I have learned a lot from those videos, but I am having a hard time putting it into practice so far. Please kindly look at my EURJPY chart and see if my expectations are correct. I need to know if I'm in the right direction regarding expectations. Thanks. {image} EDIT: Also, the PRZ is weak imo because the only confluences there are: I. The AB Fib extensions 127.8 - 138.2 II....
Yes, you are correct and so is your expectation. You should expect a deep correction because of the weak new structure low that formed. I would also add that the bears are breaking down and your target may not get hit. It is a good idea that if you see early breakdown of order flow in your intended direction that you prepare according to your rules either lock in profit or at the very least you remove all risk from your trade and get to a breakeven point. does that answer your question? If you need something explained further let me know and I will try again.
If you fail to plan, you plan to fail.
  • #10,617
  • Nov 3, 2014 7:11pm Nov 3, 2014 7:11pm
Quoting YoungCroc
I have another rookie question. Hope You don't mind sir. Thanks. {image}
You are still in a bearish market and taking a long there increases your risk not to mention that it also becomes a lower probability trade. You do have signs of bearish order flow breaking down and a possible bullish rotation. I would manage the trade aggressively if I were you.
If you fail to plan, you plan to fail.
  • #10,618
  • Nov 3, 2014 7:15pm Nov 3, 2014 7:15pm
Quoting Mr. Pip
{quote} Yes, you are correct and so is your expectation. You should expect a deep correction because of the weak new structure low that formed. I would also add that the bears are breaking down and your target may not get hit. It is a good idea that if you see early breakdown of order flow in your intended direction that you prepare according to your rules either lock in profit or at the very least you remove all risk from your trade and get to a breakeven point. does that answer your question? If you need something explained further let me know...

Thanks for your input. I didn't expect a deeper correction after the weak NSL and that was my mistake. I am still getting the hang of this.
  • #10,619
  • Nov 3, 2014 7:18pm Nov 3, 2014 7:18pm
Quoting Mr. Pip
{quote} You are still in a bearish market and taking a long there increases your risk not to mention that it also becomes a lower probability trade. You do have signs of bearish order flow breaking down and a possible bullish rotation. I would manage the trade aggressively if I were you.
Okay. I wasn't planning to trade this setup, just wanted to know the thought process behind it. Thanks sir.
  • #10,620
  • Edited Nov 4, 2014 6:59am Nov 3, 2014 11:16pm | Edited Nov 4, 2014 6:59am
welcome back Mr. Pip,

past few weeks not much happening in forex. well nothing that jumps off the chart and makes me feel confident. so I had a rest waiting for opportunity to reveal itself. forcing trades and over trading is a stressful endeavor. tried it before and lost big time. rest...rest....best medicine after pushing the envelop after a few months I find.

anyhow. just bought EU. expecting a quickie and may change my expectation if charts reveals another story, since long term my expectation is some more downside. at moment seems we have some consolidation with LH and LL.

your input will be highly appreciated,
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