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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

  • #10,781
  • Nov 12, 2014 8:50pm Nov 12, 2014 8:50pm
Quoting moneyflow21
{quote} I agree with you Mr. Pip and here is what I think you mean (correct me if I am wrong)... I too found out that waiting for specific harmonic patterns to form like Butterfly's, Bats, Crabs, Cyphers and Gartley's is "inefficient" and time consuming like what you say. Instead I realized that it is much better and easier to simply follow the grand ABCD or AB=CD Fibonacci Sequence and just learn to master that with it's swing highs/swing lows and rotations, reversal points, etc. In my humble opinion the ABCD pattern/sequence once fully understood...
Can't wait to hear more.
Damn The Torpedoes, Full Speed Ahead!
  • #10,782
  • Nov 12, 2014 10:32pm Nov 12, 2014 10:32pm
Quoting Mack2013
Hello Mr.Pip Here is something I'm looking at on the Hourly (GBPUSD). Sorry for the mess on the chart Set Up: ABCD Pattern (Complex Pullback in a Bearish market) L/T Order Flow: Definatley Bearish. My kill zone completes below the last source of the NSL which is encouraging. Structure: Kill Zone is in an area of interest. I would label it as an area of challenge. Previous Demand area of a consolidation area can provide an area of selling upon pullback on a breakout. The question I probable should ask myself is; Why would longs take profit at this...
Update on GBPUSD thesis from yesterday

The idea was right but the location of my pivot point was shy by 10-12 pips. Price never reached my kill zone plus I was at work when all the good stuff happened. The price action was perfect too. we had strength going up then a nice rejection of price then price made a weaker double top (No short term order flow HH and weaker momentum)before collapsing. There was a fast pullback from demand being consumed but it failed to penetrate the highs. Good sign.

Anyways, I wasn't able to capitalize.

http://icmarkets.ctrader.com/images/screens/0hNwn.png
  • #10,783
  • Nov 13, 2014 12:07am Nov 13, 2014 12:07am
Quoting Mr. Pip
Harmonics Fact or Fiction???? Train your eyes and learn your markets rhythm. {image}
Definitely a fact. I second that there is a lot of harmonic action on the EU and has witness its movement firsthand. The chart looks really good.

Now, if only I could capitalize on every harmonic sequence.
  • #10,784
  • Nov 13, 2014 12:29am Nov 13, 2014 12:29am
Quoting moneyflow21
{quote} I agree with you Mr. Pip and here is what I think you mean (correct me if I am wrong)... I too found out that waiting for specific harmonic patterns to form like Butterfly's, Bats, Crabs, Cyphers and Gartley's is "inefficient" and time consuming like what you say. Instead I realized that it is much better and easier to simply follow the grand ABCD or AB=CD Fibonacci Sequence and just learn to master that with it's swing highs/swing lows and rotations, reversal points, etc. In my humble opinion the ABCD pattern/sequence once fully understood...
Great to hear more successful traders using this simple yet powerful form of analysis. I have gone through a lot of charts and have seen a LOT of AB=CD harmonics from M1 to Monthly. It's just amazing and sometimes baffling to see how the 'big guys' seem to respect harmonic swings and fib ratios as well (well, there will always be exceptions but whatever.)

Staying tuned for your part two.
  • #10,785
  • Edited 1:33am Nov 13, 2014 1:02am | Edited 1:33am
Goodmorning everybody,

Looking at the GBPAUD.
the first chart shows an zoomed out view. which is showing a bias to the downside.
The second chart shows the zoomed in view. there was an agg C with enough confluence and with shortterm orderflow.
but was too late at the charts to enter. will enter long on an pullback.
long at rejection of the small swing at 38,2. price was not going anywhere. so exited the position with a small profit of one pip
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $GBPAUD (233 Tick) 13-11-2014.jpg Size: 171 KB
Click to Enlarge Name: $GBPAUD (233 Tick) 13-11-2014.2.jpg Size: 189 KB
  • #10,786
  • Nov 13, 2014 3:28am Nov 13, 2014 3:28am
Currently short on the USDCAD off of the M5 chart. The first chart shows an M15 just so I could get a prettier picture of what I was trying to show with out cramming it all together. Price has been on a downward move with some nice harmonics in play. After making a NSL, price retraced almost to the 61.8 but did not quite touch it, so I'm looking for an AB=CD pattern. Price also got into an area with some pretty good resistance/structure that is highlighted by the top blue box. The lower blue box is my PRZ for the completion of the CD leg.

The second chart shows my entry candle. The green candle closed with some indecision having a wick on both ends. The second candle which was my entry candle, closed showing that the bears were stepping in. Leading up to those two candles, you could see the price break down, with some bearish signs. More longer red candles that green.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 60 KB
Click to Enlarge Name: USDCADM5.png Size: 62 KB
Damn The Torpedoes, Full Speed Ahead!
  • #10,787
  • Edited 8:24am Nov 13, 2014 7:06am | Edited 8:24am
Here's my current view for the NU.

1st chart shows the overall view. 2nd shows the analysis itself.

Attached Image (click to enlarge)
Click to Enlarge Name: $NZDUSD (100 Tick) 11_13_2014 (1).png Size: 71 KB

Attached Image (click to enlarge)
Click to Enlarge Name: $NZDUSD (100 Tick) 11_13_2014 (2).png Size: 85 KB


UPDATE:

Entered Long.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Noooo! xD

Attached Image (click to enlarge)
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More charts. Yep.
Mr. Pip, I have gone through some of your posts about graceful exits. I think my scenario would be an example. Should I take one here?
Attached Image (click to enlarge)
Click to Enlarge Name: $NZDUSD (100 Tick) 11_13_2014 (6).png Size: 74 KB
  • #10,788
  • Nov 13, 2014 7:44am Nov 13, 2014 7:44am
What's up Traders! I will look over your post later on today. I just wanted to wish everyone green pips and I really like what I'm seeing from those of you who are posting.

Remember this always:

It doesn't get easier

You just get better!!!!!
If you fail to plan, you plan to fail.
  • #10,789
  • Nov 13, 2014 8:05am Nov 13, 2014 8:05am
Just entered short at GBPAUD.
weakness on the bull side. Litlle worried because price failed to make an NSL.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPAUD (144 Tick) 13-11-2014.jpg Size: 166 KB
  • #10,790
  • Nov 13, 2014 8:24am Nov 13, 2014 8:24am
http://www.youtube.com/watch?v=ujMP41Rphzc&feature=player_detailpage
If you fail to plan, you plan to fail.
  • #10,791
  • Nov 13, 2014 11:09am Nov 13, 2014 11:09am
Harmonics in action (edit: EU 1M). Still learning to trust what I'm seeing...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 20 KB
  • #10,792
  • Nov 13, 2014 12:53pm Nov 13, 2014 12:53pm
Today's Harmonics EU
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (233 Tick) 11_13_2014.jpg Size: 122 KB
If you fail to plan, you plan to fail.
  • #10,793
  • Nov 13, 2014 12:55pm Nov 13, 2014 12:55pm
Quoting Mack2013
{quote} Update on GBPUSD thesis from yesterday The idea was right but the location of my pivot point was shy by 10-12 pips. Price never reached my kill zone plus I was at work when all the good stuff happened. The price action was perfect too. we had strength going up then a nice rejection of price then price made a weaker double top (No short term order flow HH and weaker momentum)before collapsing. There was a fast pullback from demand being consumed but it failed to penetrate the highs. Good sign. Anyways, I wasn't able to capitalize. {image}...
Can't catchem all good work!
If you fail to plan, you plan to fail.
  • #10,794
  • Nov 13, 2014 12:56pm Nov 13, 2014 12:56pm
Quoting YoungCroc
{quote} Definitely a fact. I second that there is a lot of harmonic action on the EU and has witness its movement firsthand. The chart looks really good. Now, if only I could capitalize on every harmonic sequence.
That is tough but train your eyes and you will catch more then you miss.
If you fail to plan, you plan to fail.
  • #10,795
  • Nov 13, 2014 12:59pm Nov 13, 2014 12:59pm
Quoting DizzleFX
Currently short on the USDCAD off of the M5 chart. The first chart shows an M15 just so I could get a prettier picture of what I was trying to show with out cramming it all together. Price has been on a downward move with some nice harmonics in play. After making a NSL, price retraced almost to the 61.8 but did not quite touch it, so I'm looking for an AB=CD pattern. Price also got into an area with some pretty good resistance/structure that is highlighted by the top blue box. The lower blue box is my PRZ for the completion of the CD leg. The second...
Very nice Dizzle.
If you fail to plan, you plan to fail.
  • #10,796
  • Nov 13, 2014 1:03pm Nov 13, 2014 1:03pm
Quoting YoungCroc
Here's my current view for the NU. 1st chart shows the overall view. 2nd shows the analysis itself. {image} {image} UPDATE: Entered Long. {image} {image} Noooo! xD {image} More charts. Yep. Mr. Pip, I have gone through some of your posts about graceful exits. I think my scenario would be an example. Should I take one here? {image}
Sorry I was not reading when you posted. I hope it worked out the only thing is that price broke structure to the down side before testing your demand area that is a concern. It would not have kept me out of the trade since longer term expectations were still in play but a sign what price might struggle a bit to the upside.
If you fail to plan, you plan to fail.
  • #10,797
  • Nov 13, 2014 1:04pm Nov 13, 2014 1:04pm
Quoting DeepakJ
Just entered short at GBPAUD. weakness on the bull side. Litlle worried because price failed to make an NSL. {image}
Nice did it work out?
If you fail to plan, you plan to fail.
  • #10,798
  • Nov 13, 2014 1:18pm Nov 13, 2014 1:18pm
Hi Mr Pip,

I am extremely new to Harmonic trading but I have been following your thread with extreme interest for the past couple of weeks and have just finished reading Scott Carney's first volume in Harmonic trading (I now have the 2nd volume to read).

I have this afternoon been studying various charts and must admit am struggling to see many harmonics. This is understandable however would you mind helping me analyse this potential trade set up on the EURUSD 1hour chart?

I believe I have spotted a Bearish Deep Crab pattern starting to form. Point D is where the 1.618 XA projection sits and it also sits on an extreme BC projection of 2.0 which I understand is the minimum requirement for a BC projection for this structure. The point B retracement came in at 0.886 and point C came in at 0.786. I have scrolled back through the chart and can see point D also appears to sit at a nice area of resistance (was once support) and could perhaps be a continuation of the bearish move.

Below is a screenshot of my chart but could you please let me know if I am anlaysing this corectly?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 180 KB
  • #10,799
  • Nov 13, 2014 1:26pm Nov 13, 2014 1:26pm
Hello Mr Pip

D fantastic chart of the harmonics in the EU today, but how do YOU go about trading them?


Aj1
  • #10,800
  • Nov 13, 2014 1:26pm Nov 13, 2014 1:26pm
Quoting Mr. Pip
{quote} If I may suggest that you forget about the indicators. If you really want to master this skill train your eyes to read the chart. Indicators are tools and although I use tools like Fib and lines too many tools are a handicap and force you to stay in the shadows.
Thankyou Mr Pip

i will certainly work hard to achieve your suggestion

so love this thread and its contributors

all so helpful to each other.

for me the community is a family to help each other.

"Caring is sharing"
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