Ratios & Harmonics: a Different Way to Trade

Quoting DizzleFX

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Took a counter trend trade on the GU M5 chart. Price has been on a HUGE downward move and is looking for a little relief to the upside. My expectation is nothing more than a completion of and AB=CD pattern. Once in my PRZ I expect price to continue downward. Since this is a counter trend trade, I have been aggressive with my stop loss. In the picture I had already reduced some risk by moving my SL to just under the CD leg. As of now I am at BE. My entry candle was the second green bar on the CD leg. The CD leg also completes in an area of structure...

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Quoting DeepakJ

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Looking for an possible short EU. Price is approaching with strength. So will wait for further confirmation Update 1: Shorted EU. On a LH. Update 2: as for now bears not taking control. price drifting. Update 3: Price made an nsl on the shortterm orderflow. will get to minor resistance soon (1.2458) Update 4: Moved SL to BE on touch of 38,2%. price broke minor resistance. now heading toward RN. Update 5: price retracing. expecting to the 50% of the swing Update 6: taken out on BE {image} {image}

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Quoting honestknave

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Hello DeepakJ, Just an observation, as I took the same trade. EU has been keeping a very steady rhythm today - the downward pulses are marked up in cyan on the chart. They're about 18 pips today. You can see that your trade moved perfectly in line with the market's pulse. Perhaps a little more breathing room could have turned a BE into a profit? {image}

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Quoting DizzleFX

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Mr. Pip and any of you other traders out there that use FXCM, how do you like the new pricing model they use. Suppose to be super tight spreads with a commission charge. Just curious, thinking about giving them a try.

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Quoting DizzleFX

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Had 2 trades today, both fully meeting my expectation. On my first trade I exited early, on the first bearish bar. I new I was against long term order flow, so thought it was a good place to exit. I would have been hit at BE had I not closed my position. Price then went right into my PRZ and backed down (see post #10819). My second trade was back in the direction of long term order flow, to the down side. After price hit my PRZ from my first trade, it went down and made a NSL then retraced and left me with an aggressive C entry on an AB=CD pattern....

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Quoting Aj1

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Mr Pip Thanks for rotation explanation wonderfully set out. I have a question. I was watching the EU on the 1 min. Trying out would you suggested, when I came across this reversal, red arrow. Watching it live at the time, there is a big bear power candle, price then does not close below this for 3 candles, then there is a rejection to the downside. Normally I would take this as a sign that price may reverse. But it continues sideways, then dropped again. {image}

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Quoting DeepakJ

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{quote} Mr. Pip, That rotation chart you posted yesterdat is gold just like your other charts!! I have that chart on my second monitor and still study it. tried it today on my trades. It is an amazing feeling when you have expectations and they are being met. looks like your are in control of the market. I noticed when i have expectations i dont manage my trades with emotions. At the moment EU is hitting my TP if i had been in the trade. No problem, next week there will be enough pips on the table.

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Quoting jpnavigate

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A failed EU trade I took this morning. Context of the trade: 1) Main swing is bearish; 2) Retracement of the main swing reached 61.8%, forming possible AB leg; 3) Retracement of AB leg also reached 61.8%; 4) had a nice reaction; 5) then a retest of the 61.8% level. The second retest and bullish reaction had me expecting the completion of a CD leg, so once I saw the pullback from that bullish move, I decided to enter on any bullish indication. Chart 1 shows the high-level view; Chart 2 shows my entry. Ultimately, I entered the trade and price seemed...

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Quoting LuisPrinc

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Mr. Pi,p that is great explanation as also in your videos that I studied. This time I like to show how I see this setup and also indicating about situation when on C AGGRESIVE SETUP price touch the 61.8 and was unable to close above....That said would be maybe an indication of greater probability to reverse from there as in today`s case. Thank you very much and I would like to have some feedback on this and continue the journey with you on the side. 1. Is it very important to see a close below 78.6 to qualify changing of orderflow ? 2. I see that...

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Quoting claytonator

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Update on my CADCHF trade. I set my profit target just below the AB=CD pattern completion (as shown by the magenta line). The profit target was reached however I got a little lucky as the CAD news announcement pushed price to my required level. This being said price was just short of my Take Profit before the event so I am very happy with the trade. Everything moved exactly as expected. While the trade was only 36 pips it has added a lot of confidence in the harmonic trading way. I very much look forward to your further teachings Mr Pip and am very...

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Quoting Mack2013

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{quote} My broker does the same. It works well untill you become super active / over trading. Also, for a long time I was bearly making profit and I found that the commissions were eating me up. I dont have that problem now that I'm doing alittle bit better. Sorry just seen that Mr.Pip answered your question

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Quoting Chalky600

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Thought I would share my 2 trades for today as I haven't contributed much and think that they are both in keeping with the thread- first trade With Rotation in Mind I entered the first trade here at 61.8% retracement test when I saw weakness step in. It went into profit and I went out setting stop at break even (They almost got me LOL) and limit just above 127% extension, trade closed automatically & left me happy but wishing id gone for more ... (greedy I know) Second trade after waiting for a 61.8% retrace test that never happened I missed the...

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Quoting DeepakJ

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Mr. Pip, Thank you for the lessons and inspiration this week. Going to celebrate the weekend, if i have still some braincells left by monday i will be back.

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Quoting Aj1

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Mr Pip Thank you for your continued guidance, I really appreciate it, there was something you had said earlier that is now becoming true. It's not that it's becoming easier. It's because we are getting better. And that's what's happening to me, I am becoming better, I still have a long way to travel, but thanks to you, I am getting there. Thanks D Regards Aj1

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Quoting Mr. Pip

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{quote} I have mixed feeling on it. It maybe just something to get use to. The pricing is better but its more difficult when figuring out your true BE. They should have figure that in to the charts P/L everyone Knows exactly what they are going to pay in and out so why not make your Pip marker the net so you can have an accurate BE point. Like I said something to get use to.

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Quoting Mr. Pip

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Well Traders, Looks like I caught up and also looks like your trading is improving. Does it feel like the market is not in control of you anymore? Are those crystal balls better polished? I was hoping to see more rotation examples to let me know you got the concept and are practicing it well but seeing the overall comments and trades I can see that it helped you find some confidence on pulling that trigger. I am very happy and pleased with the progress and contribution all of you make. We are all and will forever be students of this business. One...

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