Ratios & Harmonics: a Different Way to Trade | Page 533 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #10,641
  • Nov 4, 2014 7:31am Nov 4, 2014 7:31am
Quoting amfx
That was my first trade using harmonics. I would appreciate feedback from Mr Pip and others. Did I spot the pattern correctly?
Please don't go after patterns you don't understand focus on what matters. PA and order flow. I rarely trade any of the patterns the ABCD and AB=CD are about the only ones I trade but most of all I trade expectations.
If you fail to plan, you plan to fail.
  • #10,642
  • Nov 4, 2014 7:34am Nov 4, 2014 7:34am
Quoting Mr. Pip
{quote} Well done!!!!!
Thanks

Making me think about the answer was definitely the correct thing to do.

Your help here is invaluable

Regards


Chalky
  • #10,643
  • Nov 4, 2014 7:34am Nov 4, 2014 7:34am
Quoting Chalky600
{quote} I am no expert, but would like to join in this discussion as part of my learning curve. Ive looked at the pattern and it does qualify as a bat from what I can see, it retraced past 38% so moving stop to breakeven assuming that your entry was in the PRZ was the correct thing to do. You got stopped out without a major loss.... cant win them all but you followed the plan, so that's OK. One point though worth discussing is that the pattern was made overnight when the market was quiet, the European session started at 7.00 towards the end of the...
This was not a Bat if I need to provide a chart example I will. The time of day does not matter, completion is completion but again it was not a bat and the trader should have been looking for opportunities to get short not long. Can you or anyone tell me why?
If you fail to plan, you plan to fail.
  • #10,644
  • Nov 4, 2014 7:37am Nov 4, 2014 7:37am
Quoting DizzleFX
Current short that I am in, EU 5 minute chart. My though process on this was that it completed and ABCD pattern to the up side, and now should be heading back in the direction of the overall orderflow to the downside. Im short on a AB=CD. Thoughts? {image} {image}
A bit late on the entrance good luck on your trade!
If you fail to plan, you plan to fail.
  • #10,645
  • Nov 4, 2014 7:42am Nov 4, 2014 7:42am
Quoting YoungCroc
I currently have my eyes on the NZDUSD. Haven't traded it yet. Here is my analysis. Hope I'm doing this right. {image} I will wait for another pullback to the PRZ and look for signs of weakness. My current expectation through is for price to blast through the PRZ as order flow right now is mostly bullish and there was a recent strong momentum upward. Update: Well guess what. My expectation was right. Still not sure if I'm doing this right though. {image}
If you fail to plan, you plan to fail.
  • #10,646
  • Nov 4, 2014 7:45am Nov 4, 2014 7:45am
Quoting DizzleFX
{quote} I definitely don't mind any input. The blue arrow was my entry candle. To me, it was showing weakness and made sense to enter. I did not notice the 1.2500 until after I took the trade. I would have stayed out of this trade had I seen that number. {image}
Situational awareness is very important and considering the context of the setup is also very important. once price failed to make that NSL you needed to protect your trade. Either take what you can or remove risk.
If you fail to plan, you plan to fail.
  • #10,647
  • Nov 4, 2014 7:49am Nov 4, 2014 7:49am
Quoting YoungCroc
{quote} I understand what you mean. Timing entries based on strength and weakness is also difficult for me. I always tend to enter my setups late because of my hesitation on whether my price action and order-flow analysis is correct and I don't have hindsight to help me. I am still learning to 'Trade what I see'. I believe this'll come to me the more I practice and the more I make trades. Experience should help me wash out my fear of the markets and not let it control me and my emotions.
Trading with expectations will help you improve your timing. Ask yourself what kind of correction should I expect? Deep? Shallow? Mid range? then find the structure in that area and wait for price to come to you then find the weakness and rotation.
If you fail to plan, you plan to fail.
  • #10,648
  • Nov 4, 2014 7:52am Nov 4, 2014 7:52am
Quoting Mr. Pip
{quote} This was not a Bat if I need to provide a chart example I will. The time of day does not matter, completion is completion but again it was not a bat and the trader should have been looking for opportunities to get short not long. Can you or anyone tell me why?

Hmm Im confused now

This was what I saw and it did seem to me to fit the profile of a bat
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD0411.JPG Size: 89 KB
  • #10,649
  • Nov 4, 2014 7:53am Nov 4, 2014 7:53am
Well Traders it's great seeing the thread com back to life let's keep growing and moving forward. I am going to do some trading now so I'll get back letter to check in and post. Good luck to all and go get those PIPS!!!!!!
If you fail to plan, you plan to fail.
  • #10,650
  • Nov 4, 2014 8:00am Nov 4, 2014 8:00am
Quoting Chalky600
{quote} Hmm Im confused now This was what I saw and it did seem to me to fit the profile of a bat {image}
Looks like you drew your FIB Retracement incorrectly. The percentages are flip-flopped. The retracement of the main swing is more like 38.2% vs. 61.8%. That ruined the rest of your pattern.
  • #10,651
  • Nov 4, 2014 8:03am Nov 4, 2014 8:03am
Quoting Mr. Pip
{quote} Trading with expectations will help you improve your timing. Ask yourself what kind of correction should I expect? Deep? Shallow? Mid range? then find the structure in that area and wait for price to come to you then find the weakness and rotation.
Yes, and I'm still working on this. I know it's supposed to be simple but I just get confused often when price doesn't follow expectation.

Gah. Got to watch that order flow video again, and again.
  • #10,652
  • Nov 4, 2014 8:04am Nov 4, 2014 8:04am
Quoting Chalky600
{quote} Hmm Im confused now This was what I saw and it did seem to me to fit the profile of a bat {image}
Although it appears to be a bat it is not keep it clean and learn to identify the proper X or anchor leg.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 11_4_2014.jpg Size: 106 KB
If you fail to plan, you plan to fail.
  • #10,653
  • Nov 4, 2014 8:04am Nov 4, 2014 8:04am
Quoting jpnavigate
{quote} Looks like you drew your FIB Retracement incorrectly. The percentages are flip-flopped. The retracement of the main swing is more like 38.2% vs. 61.8%. That ruined the rest of your pattern.
OOPS



Thanks for that,

Must have a dodgy software package LOL ........
  • #10,654
  • Nov 4, 2014 8:09am Nov 4, 2014 8:09am
Quoting Mr. Pip
{quote} Although it appears to be a bat it is not keep it clean and learn to identify the proper X or anchor leg. {image}
Question, Mr. Pip. There was a LL before the low of the anchor leg that you pointed out. Won't that be our X?
  • #10,655
  • Nov 4, 2014 8:16am Nov 4, 2014 8:16am
Don't know if any of you trade the German DAX

But heres my analysis of todays price action, with an uncompleted potential pattern

heres hoping that im not upside down on anything

Regards

Chalky
Attached Image (click to enlarge)
Click to Enlarge Name: DAX 4-11.JPG Size: 120 KB
  • #10,656
  • Nov 4, 2014 8:20am Nov 4, 2014 8:20am
Quoting YoungCroc
{quote} Question, Mr. Pip. There was a LL before the low of the anchor leg that you pointed out. Won't that be our X?
I'll wait for Mr. Pip to comment on the LL; however, while reading this entire thread, have you come across the trading rules? I have to keep refreshing my memory on those. Anyway, you don't know whether or not you have have an XA leg until Point "C" forms.
  • #10,657
  • Nov 4, 2014 8:23am Nov 4, 2014 8:23am
Quoting Chalky600
Don't know if any of you trade the German DAX But heres my analysis of todays price action, with an uncompleted potential pattern heres hoping that im not upside down on anything Regards Chalky {image}
Might have a Gartley forming. Where's your PRZ? And, what other confluence do you see happening around that area?
  • #10,658
  • Nov 4, 2014 8:31am Nov 4, 2014 8:31am
Quoting jpnavigate
{quote} I'll wait for Mr. Pip to comment on the LL; however, while reading this entire thread, have you come across the trading rules? I have to keep refreshing my memory on those. Anyway, you don't know whether or not you have have an XA leg until Point "C" forms.
You mean Mr. Pip's rules of engagement? As I have read through this thread he has his rules for only two patterns so far. The ABCD and the Gartley. There was an early post from him though with his rules regarding the Bat.

EDIT:

Mr. Pip, I hope you don't mind me sharing these. I know you said that we shouldn't focus on patterns and should focus more on order flow and expectations on price (and that's what I'm focusing on) but I'm just digging some buried treasure.
Attached Image (click to enlarge)
Click to Enlarge Name: Bat_desc.jpg Size: 132 KB
Attached File(s)
File Type: doc DCASTFX RULES OF ENGAGEMENT GARTLEY.doc   316 KB | 352 downloads
File Type: doc DCASTFX ADVANCE PATTERNS RULES OF ENGAGEMENT ABCD.doc   231 KB | 256 downloads
  • #10,659
  • Nov 4, 2014 8:34am Nov 4, 2014 8:34am
Quoting jpnavigate
{quote} Might have a Gartley forming. Where's your PRZ? And, what other confluence do you see happening around that area?
I was thinking of the round number resistance at 9300 if it gets there should make a decent low risk short entry

Time will tell I guess
  • #10,660
  • Nov 4, 2014 8:39am Nov 4, 2014 8:39am
Update on the NZDUSD trade:

Attached Image (click to enlarge)
Click to Enlarge Name: $NZDUSD (100 Tick) 11_4_2014 (5).png Size: 86 KB



Update:

Practicing my expectations on price. Any feedback would be welcome.

Attached Image (click to enlarge)
Click to Enlarge Name: $NZDUSD (100 Tick) 11_4_2014 (6).png Size: 94 KB
50 traders viewing now