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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

  • #11,641
  • Jan 8, 2015 9:55am Jan 8, 2015 9:55am
Quoting jpnavigate
{quote} So price did retrace to the golden zone? I was thinking that with the bullish momentum price would only retrace to 38.2%, 50% max.
Well it touched the 61,8%. But an expectation has to be supported by supply/demand. in this case the demand was around the golden zone. which was a retracement i was not willing to wait for.
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  • #11,642
  • Jan 8, 2015 9:56am Jan 8, 2015 9:56am
Quoting Mr. Pip
So how is trading coming along for most? Still some entry jitters? Are the markets getting easier to work with? How awesome is it to be able to forecast and predict what price will do next with accuracy? Come on let it out. Pat yourself in the back or kick yourself lets hear it?
Out of my last 6 trades, I've got 5 winners and 1 loser. I still need to force myself to trade with expectation though. I've had a tendency recently to focus more on being right versus letting the trade play out. Of the winners, 2 were with expectations...the others weren't.
  • #11,643
  • Jan 8, 2015 9:57am Jan 8, 2015 9:57am
Quoting DeepakJ
{quote} Well it touched the 61,8%. But an expectation has to be supported by supply/demand. in this case the demand was around the golden zone. which was a retracement i was not willing to wait for. {image}
Makes perfect sense. Your expectations proved correct. Good job!
  • #11,644
  • Jan 8, 2015 9:59am Jan 8, 2015 9:59am
Quoting Mr. Pip
So how is trading coming along for most? Still some entry jitters? Are the markets getting easier to work with? How awesome is it to be able to forecast and predict what price will do next with accuracy? Come on let it out. Pat yourself in the back or kick yourself lets hear it?
Mr. Pip,

it has gotten easier. my expectations are working out. But still get confused sometimes by short and longterm orderflow. I did watch the webinar already a few times, but this is remains a issure for me.
  • #11,645
  • Jan 8, 2015 9:59am Jan 8, 2015 9:59am
Quoting Mr. Pip
So how is trading coming along for most? Still some entry jitters? Are the markets getting easier to work with? How awesome is it to be able to forecast and predict what price will do next with accuracy? Come on let it out. Pat yourself in the back or kick yourself lets hear it?

Mr Pip

I have to say that since your webinar, my trading has really come along. My expectations, and trade management are all coming along wonderfully.
It's been a real revelation, I understand strength and weakness. I really appreciate it.
Thanks D

Aj1
  • #11,646
  • Jan 8, 2015 10:04am Jan 8, 2015 10:04am
Quoting Mikali
{quote} Hello L.Fibonacci and thanks for your response, Yes it was the M30 the screen-capture was in my original post (see copy below). I was just looking for some feedback as to whether I was plotting a valid PRZ. Thanks again, Mikali {image}
Hello Mikali,

I don't normally respond to your initial question not to be an ass but because I don't want traders to become dependent on someone else to confirm a pattern or setup. I would be doing you a disservice if you don't know what you are looking at. This may not be you but most traders want to run before they can walk and thus the high failure rate in this business.

You had posted your question and touched on the dynamics surrounding that particular setup, that would have been an entirely different scenario. I don't where you are with structure, order flow and don't want to mislead you into a setup that has a low chance of working out.

I encourage you to post but build your case we want to help but in the past traders have misused the information and then blasted the person that was only trying to help and at the end of the day the dumb ass was the person who didn't do their homework.
If you fail to plan, you plan to fail.
  • #11,647
  • Jan 8, 2015 10:06am Jan 8, 2015 10:06am
Quoting DeepakJ
{quote} Mr. Pip, it has gotten easier. my expectations are working out. But still get confused sometimes by short and longterm orderflow. I did watch the webinar already a few times, but this is remains a issure for me.
Great feedback I am planning to record a live trading session as mention and I will be sure to address this. Thanks this is the kind of feedback I need so that I can focus in the right direction.
If you fail to plan, you plan to fail.
  • #11,648
  • Jan 8, 2015 10:07am Jan 8, 2015 10:07am
Quoting Aj1
{quote} Mr Pip I have to say that since your webinar, my trading has really come along. My expectations, and trade management are all coming along wonderfully. It's been a real revelation, I understand strength and weakness. I really appreciate it. Thanks D Aj1
Anytime AJ
If you fail to plan, you plan to fail.
  • #11,649
  • Jan 8, 2015 10:12am Jan 8, 2015 10:12am
Quoting jpnavigate
{quote} Out of my last 6 trades, I've got 5 winners and 1 loser. I still need to force myself to trade with expectation though. I've had a tendency recently to focus more on being right versus letting the trade play out. Of the winners, 2 were with expectations...the others weren't.
Hang in there looks like you are getting better.
If you fail to plan, you plan to fail.
  • #11,650
  • Jan 8, 2015 10:13am Jan 8, 2015 10:13am
Quoting Mr. Pip
So how is trading coming along for most? Still some entry jitters? Are the markets getting easier to work with? How awesome is it to be able to forecast and predict what price will do next with accuracy? Come on let it out. Pat yourself in the back or kick yourself lets hear it?
Been trading GBPUSD 233T and been able to make some nice predictions but still have a minor loss today. This is mainly because I was a bit too eager to get in and didn't wait for PA to show me my prediction was right. Atm Im short GBPUSD and now finally price seems to go my way . Overall I think I just need to be a bit more patient and wait for price to enter PRZ and observe PA closely once it does.

As I write this price found support @1.5080 again, I might get stopped out but overall I still think bulls look more and more exhausted.

EDIT: Just as I finished bulls took me out (ouch).
Rise and rise again until lambs become lions
  • #11,651
  • Jan 8, 2015 10:24am Jan 8, 2015 10:24am
Quoting Mr_Burns
{quote} Been trading GBPUSD 233T and been able to make some nice predictions but still have a minor loss today. This is mainly because I was a bit too eager to get in and didn't wait for PA to show me my prediction was right. Atm Im short GBPUSD and now finally price seems to go my way . Overall I think I just need to be a bit more patient and wait for price to enter PRZ and observe PA closely once it does. As I write this price found support @1.5080 again, I might get stopped out but overall I still think bulls look more and more exhausted....
Hang in there keep reading have patience and wait for price to come to you! Take the trade on your terms not the markets.
If you fail to plan, you plan to fail.
  • #11,652
  • Jan 8, 2015 10:31am Jan 8, 2015 10:31am
Quoting Mr. Pip
{quote} Hang in there looks like you are getting better.
Getting much better. I attribute my development to your teaching. So, I'm forever indebted to you.
  • #11,653
  • Jan 8, 2015 10:51am Jan 8, 2015 10:51am
Quoting Mr. Pip
{quote} Hang in there keep reading have patience and wait for price to come to you! Take the trade on your terms not the markets.
Thanks!

So lets learn from my mistake:

  1. Failed to identify the increase in bullish momentum
  2. Price returned to 1.5080 a couple of times without breaking through which it should if I was right (last time isn't shown in the picture)
  3. Late entry, I got in @1.5080 which I shouldn't (emotional entry since it felt like I was missing the opportunity)

Since price initially went with me I felt reassured that my prediction was correct. Maybe I should've gone out once price came back up and formed a weak NSH?
Was there anything else I missed?

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Rise and rise again until lambs become lions
  • #11,654
  • Jan 8, 2015 11:43am Jan 8, 2015 11:43am
Quoting Mr_Burns
{quote} Thanks! So lets learn from my mistake: Failed to identify the increase in bullish momentum Price returned to 1.5080 a couple of times without breaking through which it should if I was right (last time isn't shown in the picture) Late entry, I got in @1.5080 which I shouldn't (emotional entry since it felt like I was missing the opportunity) Since price initially went with me I felt reassured that my prediction was correct. Maybe I should've gone out once price came back up and formed a weak NSH? Was there anything else I missed? {image}
Not really and it's also great that you reexamine your trades specially the losing one to see if any mistakes were made and if there wasn't then next and if there was then learn from them and next.
If you fail to plan, you plan to fail.
  • #11,655
  • Jan 8, 2015 11:56am Jan 8, 2015 11:56am
Quoting Mr_Burns
{quote} Thanks! So lets learn from my mistake: Failed to identify the increase in bullish momentum Price returned to 1.5080 a couple of times without breaking through which it should if I was right (last time isn't shown in the picture) Late entry, I got in @1.5080 which I shouldn't (emotional entry since it felt like I was missing the opportunity) Since price initially went with me I felt reassured that my prediction was correct. Maybe I should've gone out once price came back up and formed a weak NSH? Was there anything else I missed? {image}
I would have been inclined to take that trade as well, especially after the strong bearish candle. And, I would have held onto the trade until I saw the formation of the HL around the 1.5080 level, which was close to your entry, correct? Anyway, HL indicates the bulls have shown up and intend to take price higher.
  • #11,656
  • Jan 8, 2015 1:24pm Jan 8, 2015 1:24pm
todays trade was a loser, but not sure if my analysis was off or if it was just the market.

I took an aggressive 'c'. After another NSL i was expecting price to pullback into the golden zone and a (slightly messy) previous structure.
Price did that, so monitoring bar by bar i entered on the completion of the second doji as the bulls seemed to be getting pushed back in that area.

My TP was an expectation of an ABCD 1:1 completion into structure, which was also a 61.8 retracement of the Main swing.
However, price just pushed on through the golden zone and tested the earlier structure high.

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  • #11,657
  • Jan 8, 2015 2:09pm Jan 8, 2015 2:09pm
Quoting Wolves77
todays trade was a loser, but not sure if my analysis was off or if it was just the market. I took an aggressive 'c'. After another NSL i was expecting price to pullback into the golden zone and a (slightly messy) previous structure. Price did that, so monitoring bar by bar i entered on the completion of the second doji as the bulls seemed to be getting pushed back in that area. My TP was an expectation of an ABCD 1:1 completion into structure, which was also a 61.8 retracement of the Main swing. However, price just pushed on through the golden...
Hindsight is always 20/20; however, I would have waited to see more bearish confirmation prior to entering this trade. I think your expectations were sound, you just entered prematurely. The dojis signify indecision. So, in reality there was a 50/50 chance price could either go higher or lower. In this case, it went higher. The failure to form a NSH is in line with the fact that price previously created a NSL. At the point where price failed at the prior high, I would have entered that trade. Be patient and keep up the good work!
  • #11,658
  • Jan 8, 2015 2:31pm Jan 8, 2015 2:31pm
Quoting Mr. Pip
So how is trading coming along for most? Still some entry jitters? Are the markets getting easier to work with? How awesome is it to be able to forecast and predict what price will do next with accuracy? Come on let it out. Pat yourself in the back or kick yourself lets hear it?
I'm lovin the fact that all markets and all time frames seem to follow these rules, just my opinion, but this takes basic price action/structure trading to a whole new level.
My problem seems to be timing, a lot of the time i.m slightly out of synch with the market, if i can explain by showing you 2 trades on the DAX today. (I know this is FOREX factory lol, but the dax is the only market i can realistically trade on a 5 min time frame due to the spread)

The market was bullish overall, there was a strong move with large momentum and projection, so my plan was to wait for a shallow pullback to structure and go long
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price retraced and i went long on bullish strength
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The bulls were rejected twice and looked like they couldn't push higher and eventually came back to stop me out.
however, there were now three LH's so when price had retraced into the golden zone my expectation was now for price to go lower, so i went short on the bearish candle
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problem is, price went and did this. a 150 point move north.
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I just feel that my analysis is slightly off and a better trader would have caught that move.
Still, overall i'm very happy with this way of trading, so its onwards and upwards as always.

Cheers
  • #11,659
  • Jan 8, 2015 2:32pm Jan 8, 2015 2:32pm
Quoting Mr. Pip
Not really and it's also great that you reexamine your trades specially the losing one to see if any mistakes were made and if there wasn't then next and if there was then learn from them and next.
Ok thanks! On to the next one.

Quoting jpnavigate
{quote} I would have been inclined to take that trade as well, especially after the strong bearish candle. And, I would have held onto the trade until I saw the formation of the HL around the 1.5080 level, which was close to your entry, correct? Anyway, HL indicates the bulls have shown up and intend to take price higher.
Yes that's correct.
Rise and rise again until lambs become lions
  • #11,660
  • Jan 8, 2015 2:41pm Jan 8, 2015 2:41pm
Quoting jpnavigate
{quote} Hindsight is always 20/20; however, I would have waited to see more bearish confirmation prior to entering this trade. I think your expectations were sound, you just entered prematurely. The dojis signify indecision. So, in reality there was a 50/50 chance price could either go higher or lower. In this case, it went higher. The failure to form a NSH is in line with the fact that price previously created a NSL. At the point where price failed at the prior high, I would have entered that trade. Be patient and keep up the good work!
Cheers for the feedback, i think your right about the second entry. rather than wondering what went wrong i should have re assessed and that would have been a great place to go short. just to mention tho, i just used the word doji cause it was short on the chart lol, the initial entry was more to do with price being rejected in the grey zone rather than the candle itself.
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