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Ratios & Harmonics: a Different Way to Trade

  • #11,281
  • Dec 11, 2014 9:49pm Dec 11, 2014 9:49pm
Hello,

GBP/CAD- 4HR- Possible BAT pattern forming. If it completes as a bat the PRZ would be somewhere between 1.8175 and 1.8200. However I will use discretion before entering short, as it could continue higher at the PRZ.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCADH4.BAT.png Size: 58 KB
  • #11,282
  • Dec 11, 2014 10:21pm Dec 11, 2014 10:21pm
Hello,


CAD/CHF - GARTLEY -4HR
This one is currently at the PRZ.
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHFH4.GARTLEY.png Size: 64 KB
  • #11,283
  • Dec 11, 2014 11:11pm Dec 11, 2014 11:11pm
Hello,

SHARK - BEARISH

NZD/CAD - 1HR- Possible SHARK pattern forming.
If this pattern can complete the PRZ would be around 0.9010 to 0.9020.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADH1.SHARK.png Size: 58 KB
  • #11,284
  • Dec 12, 2014 6:39am Dec 12, 2014 6:39am
This GBP/AUD is a B@tch. 100pips up 100 pips down. Pips gained pips lost. In and out. I am hard headed and only traded long however the fluctuations. The market gave it back but DAM. Its been stalling at my 1 to 1 point so it could go down to structure. I see it moving higher to complete my other 1 to 1 points which falls at a confluence point for both completions then a good drop to structure.

Have a good weekend
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.2.jpg Size: 330 KB
Empower Your Mind
  • #11,285
  • Dec 12, 2014 10:18am Dec 12, 2014 10:18am
Quoting dana2802
Still Learning my eyes for the pattern...is ist correct the pattern i mark? {image}

what do your rules tell you? do you have rules?
  • #11,286
  • Dec 13, 2014 10:12am Dec 13, 2014 10:12am
Good morning traders

I'm currently looking at a nice set up on the GBPNZD - 1 hr.

Set up: ABCD set up into structure and 50% retrace from the highs
Order Flow & Structure: Long Term order flow was Bullish but price made a retracment which had a break below / close below with some significant strength so I'm looking for some more down movement
Bar by Bar: in the second chart

As always, comments or criticism is welcomed.

Set Up:
Attached Image (click to enlarge)
Click to Enlarge Name: Dec 13.png Size: 93 KB


Bar by Bar:
Attached Image (click to enlarge)
Click to Enlarge Name: Dec 13 - Bar by Bar.png Size: 177 KB
  • #11,287
  • Dec 13, 2014 10:24am Dec 13, 2014 10:24am
Quoting Mack2013
Good morning traders I'm currently looking at a nice set up on the GBPNZD - 1 hr. Set up: ABCD set up into structure and 50% retrace from the highs Order Flow & Structure: Long Term order flow was Bullish but price made a retracment which had a break below / close below with some significant strength so I'm looking for some more down movement Bar by Bar: in the second chart As always, comments or criticism is welcomed. Set Up: {image} Bar by Bar: {image}
Its lots of hard work you put in those charts and tips, notes etc, and its truly amazing how ur charts helps me work the way to really understand structure with fibs, thanks
I Have Learned to Take Some Losses to Make Profits
  • #11,288
  • Dec 13, 2014 12:21pm Dec 13, 2014 12:21pm
Hello again

Here is a trade that failed on me earlier this week....

EURCAD – 1 hr
Set Up: Bearish Gartley / ABCD
Structure: RN (1.4200) with a strong Structure above at 1.4300
Order Flow: long term order flow was bearish so my trade was in line with order flow even tho price made a full retracement which was a Bullish sign. The retracement failed to make a break above close above so I thought the Bears still had the strength.
Bar by Bar: see chart 2

Set up:
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.png Size: 145 KB


Bar by Bar:
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD - Bar by Bar.png Size: 197 KB


Lessons:
Even though this trade was a loser, I still think I would take the set up again. I was aware of the risk but thought the probabilities were in my favor. I guess I was wrong. Maybe I misread order flow with the strength of the Ascending Triangle and price action. The significances of the Bullish candle highlighted in chart one was the turning point. What do you guys think? Personally I though Long Term Order Flow with harmonics and the gartley was a higher probability trade.
  • #11,289
  • Dec 13, 2014 12:24pm Dec 13, 2014 12:24pm
Quoting TheScorpS
{quote} Its lots of hard work you put in those charts and tips, notes etc, and its truly amazing how ur charts helps me work the way to really understand structure with fibs, thanks
Thanks ScorpS. Hopefully, in time, I will be able to read charts like second nature and think less about the decision making. I'm glad you find the information useful. Have a great weekend
  • #11,290
  • Dec 13, 2014 6:46pm Dec 13, 2014 6:46pm
Quoting Mack2013
{quote} Thanks ScorpS. Hopefully, in time, I will be able to read charts like second nature and think less about the decision making. I'm glad you find the information useful. Have a great weekend
Same as what ScorpS said. Your work you put into those charts help me out as well. Nice work!
Damn The Torpedoes, Full Speed Ahead!
  • #11,291
  • Dec 14, 2014 4:19am Dec 14, 2014 4:19am
Quoting Jamos
Hello, CAD/CHF - GARTLEY -4HR This one is currently at the PRZ. {image}
Hello,

The Gartley pattern seems to be morphing into a Butterfly.
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHFH4.png Size: 54 KB
  • #11,292
  • Dec 14, 2014 4:21am Dec 14, 2014 4:21am
Hello,

GOLD currently has a two pattern confluence. There is a 5-0 on the daily chart and a Gartley pattern on the 4hr.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDDaily5-0.png Size: 57 KB
Click to Enlarge Name: XAUUSDH4gartley.png Size: 60 KB
  • #11,293
  • Dec 14, 2014 4:31am Dec 14, 2014 4:31am
Quoting Mack2013
Hello again Here is a trade that failed on me earlier this week.... EURCAD – 1 hr Set Up: Bearish Gartley / ABCD Structure: RN (1.4200) with a strong Structure above at 1.4300 Order Flow: long term order flow was bearish so my trade was in line with order flow even tho price made a full retracement which was a Bullish sign. The retracement failed to make a break above close above so I thought the Bears still had the strength. Bar by Bar: see chart 2 Set up: {image} Bar by Bar: {image} Lessons: Even though this trade was a loser, I still think I...

Hello,

I believe your bearish bias is very logical. However, the CAD pairs need some fundamental help to pull down the EUR and the USD, maybe a bounce in oil. The other factor is that there are patterns forming on larger time frames that still need to complete.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCADh4CYPHER.png Size: 65 KB
Click to Enlarge Name: EURCADH1CRAB.png Size: 52 KB
Click to Enlarge Name: USDCADDaily.png Size: 51 KB
  • #11,294
  • Dec 14, 2014 6:44am Dec 14, 2014 6:44am
Quoting Mack2013
Good morning traders I'm currently looking at a nice set up on the GBPNZD - 1 hr. Set up: ABCD set up into structure and 50% retrace from the highs Order Flow & Structure: Long Term order flow was Bullish but price made a retracment which had a break below / close below with some significant strength so I'm looking for some more down movement Bar by Bar: in the second chart As always, comments or criticism is welcomed. Set Up: {image} Bar by Bar: {image}
Mack,

Beautiful analysis!
A few weeks ago you told us that you are only trading the higher timeframes because you couldn't get profitable on the lower. How is your profability nowadays? did it get better?
Last week i watched the 610 tick chart and the swings are really clean, looks easier to trade.
  • #11,295
  • Dec 14, 2014 9:36am Dec 14, 2014 9:36am
Quoting DeepakJ
{quote} Mack, Beautiful analysis! A few weeks ago you told us that you are only trading the higher timeframes because you couldn't get profitable on the lower. How is your profability nowadays? did it get better? Last week i watched the 610 tick chart and the swings are really clean, looks easier to trade.
Its better, definately more profitably even though I'm B/E for this month. I still make some mistakes, mostly holding on to losers to long but I dont make as many mistakes as I was trading the 5 min. I found that I have less emotion invested and the higher time frames give me time to contemplate the probabilities. As a newbie, I need the time to make quality decisions. The dailys were to slow. Not enough opportunity for my liking but I still take them if I see them. But the 1 hour is nice. lots of action

I found with the higher TF's that I might not be at the computer because I juggle trading with a night job and a family so I jump the gun a little and i'm not able to monitor my trades all the time so I take conservative price targets. One in hand is better then two in the bush.

eventually, in time, when my skills get better and I have a bigger payroll, I'll be looking to transfer to trading full time. I enjoy it more.
  • #11,296
  • Dec 14, 2014 9:55am Dec 14, 2014 9:55am
Quoting Jamos
{quote} Hello, I believe your bearish bias is very logical. However, the CAD pairs need some fundamental help to pull down the EUR and the USD, maybe a bounce in oil. The other factor is that there are patterns forming on larger time frames that still need to complete. {image} {image} {image}
I would have to agree with you. I try to stay away from the fundamentals tho. I keep in touch with hot topics to stay informed but I try to keep my personal belief away from what price action is telling me. Its to hard to decypher the bull$%&* from the truth on CNBC. Hell, if a whole team of economist cant figure it out then how can I. Some of those guys are really smart people, alot smarter then me. I do keep an eye on key economic data to be released but for the most part I just watch price. Not sure if this is a flaw in my trading yet, time will tell. And if it is, I'll adapt and overcome.

I haven't really traded the crab, its not in my plan. Mostly because I haven't done the backtesting for this strategy. But I was wondering how you find it? Good win % and profitable? Any draw backs that you've noticed? Do you trade just a classic crab or have you modified the rules
  • #11,297
  • Dec 14, 2014 1:40pm Dec 14, 2014 1:40pm
Quoting Mack2013
What do you guys think? Personally I though Long Term Order Flow with harmonics and the gartley was a higher probability trade.
I would have looked at a higher timeframe, the H4 or Daily.. then I would have seen the following (see screenshots)
Only looking at the H1 timeframe this would have been a valid trade indeed..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 129 KB

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 101 KB
  • #11,298
  • Dec 15, 2014 2:59am Dec 15, 2014 2:59am
AB=CD
Reason for enter was at resistance lvl
reason for exit support lvl (plus had to boy to bed
just over 32pips
thats +7% goal was +2% (I aim for 2% a day)
So goal Hit

https://charts.mql5.com/6/491/eurusd...tware-corp.png
  • #11,299
  • Edited 7:32am Dec 15, 2014 3:46am | Edited 7:32am
Goodmorning everybody,

here my first trade of the day on USDJPY. also using the 610tick chart.
Enterd long in the purple circle at 118.34. It was an AB=CD completion at structure with weakness. still in the trade and at BE+5

Attached Image (click to enlarge)
Click to Enlarge Name: $USDJPY (610 Tick) 15-12-2014.jpg Size: 200 KB


Got taken out. had my SL just below the Resistance area. still nice, 39 pips profit.
Attached Image (click to enlarge)
Click to Enlarge Name: $USDJPY (610 Tick) 15-12-2014.2.jpg Size: 166 KB
  • #11,300
  • Dec 15, 2014 4:03am Dec 15, 2014 4:03am
Quoting Mack2013
{quote} Its better, definately more profitably even though I'm B/E for this month. I still make some mistakes, mostly holding on to losers to long but I dont make as many mistakes as I was trading the 5 min. I found that I have less emotion invested and the higher time frames give me time to contemplate the probabilities. As a newbie, I need the time to make quality decisions. The dailys were to slow. Not enough opportunity for my liking but I still take them if I see them. But the 1 hour is nice. lots of action I found with the higher TF's that...
Great to hear Mack,

i'm in the same boat: slowly leaning towards a higher timeframe then the 233 tick. 60m is to slow for me. Will trade the 610t this week.
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