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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

  • #10,661
  • Nov 4, 2014 8:45am Nov 4, 2014 8:45am
Quoting Chalky600
{quote} 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
Have you discovered the FIB Extension tool yet? Add the FIB Extension measurement of the AB leg to see if the 1-to-1 completion coincides with the 127.2 extension. Just looking at your chart, I would say that it does. Also, you have structure (supply zone) around that area. So, you have a lot of confluence: 1) 1-to-1 completion; 2) RN; 3) Structure; and 4) 127.2 extension of AB. That is a good area to short...if it makes it there.
  • #10,662
  • Nov 4, 2014 8:47am Nov 4, 2014 8:47am
Quoting YoungCroc
{quote} 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. {file} {file} {image}
Here's the comprehensive one.

Attached File(s)
File Type: pdf DCAST CAPITAL ADVANCE PATTERNS RULES OF ENGAGEMENT (1).pdf   316 KB | 407 downloads
  • #10,663
  • Nov 4, 2014 9:42am Nov 4, 2014 9:42am
Looks like an AB=CD was the way to go
Attached Image (click to enlarge)
Click to Enlarge Name: DAX 4-11.JPG Size: 161 KB
  • #10,664
  • Nov 4, 2014 10:17am Nov 4, 2014 10:17am
And for forecasting the extension of the AB= CD it stopped exactly at 168% extension

Just wish I could see them better in advance rather than hindsight,
Attached Image (click to enlarge)
Click to Enlarge Name: DAX 4-11.JPG Size: 74 KB
  • #10,665
  • Nov 4, 2014 10:46am Nov 4, 2014 10:46am
Quoting Chalky600
Looks like an AB=CD was the way to go {image}
The CD leg breaking through Point "B" makes this a good ABCD pattern.
  • #10,666
  • Nov 4, 2014 10:57am Nov 4, 2014 10:57am
Quoting jpnavigate
{quote} The CD leg breaking through Point "B" makes this a good ABCD pattern.
Agree

This was on a larger timescale though and needed patience which I am lacking.

I Know Mr Pip trades the 244 Tick Chart which is what I was mainly focussing on and managed a few scalps within the pattern so all was not lost

I still find it amazing how accurate some of these turning points are.
  • #10,667
  • Nov 4, 2014 11:19am Nov 4, 2014 11:19am
Quoting Chalky600
{quote} Agree This was on a larger timescale though and needed patience which I am lacking. I Know Mr Pip trades the 244 Tick Chart which is what I was mainly focussing on and managed a few scalps within the pattern so all was not lost I still find it amazing how accurate some of these turning points are.
I struggle with patience as well. And, it is amazing how accurate these turning points are.
  • #10,668
  • Nov 4, 2014 11:50am Nov 4, 2014 11:50am
D you have given a great deal. And I thank you for that. And you are still GIVING BACK.

Aj1

{quote} 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.[/quote]
  • #10,669
  • Nov 4, 2014 7:06pm Nov 4, 2014 7:06pm
Well Traders today was a losing day for me a big -50 on GBPNZD can't always win tomorrow is another day. Good night! Talk again tomorrow!
If you fail to plan, you plan to fail.
  • #10,670
  • Nov 5, 2014 1:41am Nov 5, 2014 1:41am
Hi Mr Pip

Is there a daily process that you use when choosing a particular pair to trade or do you just scan through a set number each day?

Chalky
  • #10,671
  • Edited 7:34am Nov 5, 2014 3:34am | Edited 7:34am
Another exercise on expectation and order flow that I am doing on the EURUSD.

Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (100 Tick) 11_5_2014 (1).png Size: 82 KB


UPDATE: Entered short.

Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (100 Tick) 11_5_2014 (2).png Size: 76 KB


UPDATE: Exited at BE.
  • #10,672
  • Nov 5, 2014 3:50am Nov 5, 2014 3:50am
Quoting YoungCroc
Another exercise on expectation and order flow that I am doing on the EURUSD. {image}
Nice Chart Croc

Ive had a quick look, theres some confluence around the 12470-80 area

Possibly a butterfly??

maybe due for a push up though, are you planning to buy it ?
Attached Image (click to enlarge)
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  • #10,673
  • Nov 5, 2014 3:58am Nov 5, 2014 3:58am
Having a decent day here

Just took 34 points from DAX

It came back to my entry for 61% -78% pullback from a main swing.

If no one else is interested in the indeces then I will stop posting my trade ideas for the DAX, however I am using Harmonic setups.

Chalky
Attached Image (click to enlarge)
Click to Enlarge Name: DAX 5-11.JPG Size: 119 KB
  • #10,674
  • Edited 4:34am Nov 5, 2014 4:20am | Edited 4:34am
Quoting Chalky600
{quote} Nice Chart Croc Ive had a quick look, theres some confluence around the 12470-80 area Possibly a butterfly?? maybe due for a push up though, are you planning to buy it ? {image}
I haven't traded any butterflies yet, but here's my take. At first look it does seem like a butterfly when drawn into the chart but take note that if you turn left, there are LL's so I think your anchor leg is forced. Also, I wouldn't expect any reversal now on your projected PRZ because the bears right now are very angry imo. They keep on pushing the price down with little to no breaks. My expectation might change if there is a sudden strong reversal up but as of now, I would expect it to go down to the 1.2450 area at least.

This is my analysis. Could be wrong as I am just learning as well.

EDIT: I just looked at your chart again and I was mistaken. Your pattern didn't qualify as a butterfly at all. Your AB should be at least a 78.6 retracement of XA.
  • #10,675
  • Nov 5, 2014 4:25am Nov 5, 2014 4:25am
Quoting YoungCroc
{quote} I haven't traded any butterflies yet, but here's my take. At first look it does seem like a butterfly when drawn into the chart but take note that if you turn left, there are LL's so I think your anchor leg is forced. Also, I wouldn't expect any reversal now on your projected PRZ because the bears right now are very angry imo. They keep on pushing the price down with little to no breaks. My expectation might change if there is a sudden strong reversal up but as of now, I would expect it to go down to the 1.2450 area at least. This is my...
I haven't traded any Butterflies either

I just drew what I saw and then looked at a cheat sheet to see if it fitted anything

You may be correct on the anchor leg. but going back in the chart 475 was prior support...

Good luck
  • #10,676
  • Nov 5, 2014 4:33am Nov 5, 2014 4:33am
Looking at something similar to YoungCroc on the EU M15. Price needs to make it up to my 38.2 fib for me to even consider taking a a short. Yellow line is the main swing. Almost my bed time, hopefully something happens before then.
Attached Image (click to enlarge)
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Damn The Torpedoes, Full Speed Ahead!
  • #10,677
  • Nov 5, 2014 6:20am Nov 5, 2014 6:20am
Quoting YoungCroc
{quote} I haven't traded any butterflies yet, but here's my take. At first look it does seem like a butterfly when drawn into the chart but take note that if you turn left, there are LL's so I think your anchor leg is forced. Also, I wouldn't expect any reversal now on your projected PRZ because the bears right now are very angry imo. They keep on pushing the price down with little to no breaks. My expectation might change if there is a sudden strong reversal up but as of now, I would expect it to go down to the 1.2450 area at least. This is my...
Ok thanks, whether its a Butterfly, Flutterby or just two triangles there is harmonic confluence and a price support around the 2470-2480 area so I would maybe expect some sort of support.

I think its worth posting and chatting through these setups as part of a learning curve

Regards
  • #10,678
  • Nov 5, 2014 7:08am Nov 5, 2014 7:08am
Quoting Chalky600
Hi Mr Pip Is there a daily process that you use when choosing a particular pair to trade or do you just scan through a set number each day? Chalky
No I like just sticking to a pair doesn't matter which one lately I've been trading the GBPNZD because of it's range. The pair is also hard to tame at times. My loss yesterday happened in minutes thanks to news but that's life.

Today I'm trading old faithful EURUSD as of now up 12.0 for the day so far on the 144T. I think I will stay on this pair for a while it's very easy to trade. and with a .2 pip spread can't be beat
If you fail to plan, you plan to fail.
  • #10,679
  • Nov 5, 2014 7:15am Nov 5, 2014 7:15am
Quoting Chalky600
Having a decent day here Just took 34 points from DAX It came back to my entry for 61% -78% pullback from a main swing. If no one else is interested in the indeces then I will stop posting my trade ideas for the DAX, however I am using Harmonic setups. Chalky {image}
Post away it does not matter what you trade a chart is a chart.
If you fail to plan, you plan to fail.
  • #10,680
  • Nov 5, 2014 7:23am Nov 5, 2014 7:23am
Controlling the price action in MS, expecting abcd or complete pullback, we will measure the strength and weakness of bearish and bullish segments, to establish an entry.
Cheers, see
Attached Image (click to enlarge)
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