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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

  • #11,801
  • Jan 13, 2015 11:18am Jan 13, 2015 11:18am
EJ 15 min chart ABCD completed. Came home late to see this setup. So took entry at retrace to structure.

Took 90,4 pips from this setup in 2 parts.

Thanks D

H.
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"The future is already written in the past"
  • #11,802
  • Edited 12:32pm Jan 13, 2015 11:41am | Edited 12:32pm
Took 16 pip from my short, now im long @1.5164 but I don't expect price to make a NSH since it made a NSL on short term order flow. Looking to take profit within PRZ (rectangle). Will manage it manually, hence why my TP is above PRZ.

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EDIT: Just closed my trade, +10 pips. Looking for a short to 1.5145 (1to1 completion)
EDIT2: Went short @1.5173, TP @1.5145, SL @1.5180
EDIT3: Closed trade +10 pips, need to go. All in all two hours of trading and +36 pips.
Rise and rise again until lambs become lions
  • #11,803
  • Jan 13, 2015 11:58am Jan 13, 2015 11:58am
Outside of my hours but could not resist this beauty. Had a really nice trading session today and I can see most of you did to as well. I am really proud of everyone and particularly the progress since the last two videos.
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If you fail to plan, you plan to fail.
  • #11,804
  • Jan 13, 2015 12:17pm Jan 13, 2015 12:17pm
Mr Pip

Your last two videos are just amazing, they have propelled my trading and thought process to another level.
Thanks D

Aj1
  • #11,805
  • Jan 13, 2015 12:42pm Jan 13, 2015 12:42pm
Hey Folks here is a trade I took earlier today EURUSD M15...Entry was at D (Green Arrow) and got stopped out at the 38 Fib of the CD Leg....Was hoping to get some feedback at to whether or not I have the XABCD landmarks plotted correctly....Any and all feedback is welcomed

With thanks,
Mikali
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  • #11,806
  • Jan 13, 2015 1:10pm Jan 13, 2015 1:10pm
Quoting Mr. Pip
Outside of my hours but could not resist this beauty. Had a really nice trading session today and I can see most of you did to as well. I am really proud of everyone and particularly the progress since the last two videos. {image}
mr pipsa quick kind requestif you.come a cross a nice little trade ...could you do a quick.brief video.say maybe only 5 or 10 minsbriefly go thru your analysis and where your checking ratios etc and post it......if peeps watch this short video they can then go to charts and do there.own to.compare.quick short videos.are good
  • #11,807
  • Jan 13, 2015 2:06pm Jan 13, 2015 2:06pm
Quoting Mikali
Hey Folks here is a trade I took earlier today EURUSD M15...Entry was at D (Green Arrow) and got stopped out at the 38 Fib of the CD Leg....Was hoping to get some feedback at to whether or not I have the XABCD landmarks plotted correctly....Any and all feedback is welcomed With thanks, Mikali {image}
Mikali,

You had nothing there but some good structure and ratio confluence. If you are going to grow as a trader my suggestion would be to stop trading what you do not understand. It can be easy to force patterns into the chart. I want to help you but you are heading in the wrong direction. Learn to process the information in your chart.

Structure, Order flow, confluence.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #11,808
  • Jan 13, 2015 2:47pm Jan 13, 2015 2:47pm
Quoting Mr. Pip
{quote} Mikali, You had nothing there but some good structure and ratio confluence. If you are going to grow as a trader my suggestion would be to stop trading what you do not understand. It can be easy to force patterns into the chart. I want to help you but you are heading in the wrong direction. Learn to process the information in your chart. Structure, Order flow, confluence. {image}
Mr. Pip,

Thank you for taking the time to respond to my post...as you may have guessed I am new to your thread and harmonics in general. I respect everything you are doing here to further the knowledgebase of inexperienced traders like myself. I would take-it from your response that I did not have the X,A,B,C,D anchor points plotted correctly. Could you please elaborate as to why I'm heading in the wrong direction.

Respectfully,
Mikali
  • #11,809
  • Jan 13, 2015 2:51pm Jan 13, 2015 2:51pm
Hi Mr pip or any other experienced trader,

This is my first attempt into harmonics. I'm a compleet beginner and still reading this thread. Does this seem allright to you?
Thank you

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veni vidi vici
  • #11,810
  • Jan 13, 2015 3:07pm Jan 13, 2015 3:07pm
Quoting mansan
Hi Mr pip or any other experienced trader, This is my first attempt into harmonics. I'm a compleet beginner and still reading this thread. Does this seem allright to you? Thank you {image}
Mr. Pip, myself, or any other trader on this thread won't disservice you by providing you our analysis without you first providing some of your own. Tell us what you see. Pay the price to learn to read price action (PA) and order flow.
  • #11,811
  • Jan 13, 2015 3:10pm Jan 13, 2015 3:10pm
Quoting Mikali
{quote} Mr. Pip, Thank you for taking the time to respond to my post...as you may have guessed I am new to your thread and harmonics in general. I respect everything you are doing here to further the knowledgebase of inexperienced traders like myself. I would take-it from your response that I did not have the X,A,B,C,D anchor points plotted correctly. Could you please elaborate as to why I'm heading in the wrong direction. Respectfully, Mikali
The wrong direction - missing the forest for the trees. Focusing on the patterns and properly annotating the XABCD points is doing just that - missing the forest for the trees. Learn to read price action (PA) and order flow. Harmonics and fibs help you with your expectations.
  • #11,812
  • Jan 13, 2015 3:24pm Jan 13, 2015 3:24pm
I took a quick short on GBPJPY as it made a pivot high at 78% retracement of the most recent high. I closed out quite quickly with 5 pips profit because I realised that in terms of the main swing, there could still be quite a lot of retracement to go.
  • #11,813
  • Jan 13, 2015 3:32pm Jan 13, 2015 3:32pm
Quoting Mikali
{quote} Mr. Pip, Thank you for taking the time to respond to my post...as you may have guessed I am new to your thread and harmonics in general. I respect everything you are doing here to further the knowledgebase of inexperienced traders like myself. I would take-it from your response that I did not have the X,A,B,C,D anchor points plotted correctly. Could you please elaborate as to why I'm heading in the wrong direction. Respectfully, Mikali
It's not that you had them identified incorrectly. It's that they do not qualify on any pattern. Tell me what pattern you thought you were looking at and I will show you the proper way to identify and where the pattern would have become invalid. Fair enough?
If you fail to plan, you plan to fail.
  • #11,814
  • Jan 13, 2015 3:39pm Jan 13, 2015 3:39pm
Quoting mansan
Hi Mr pip or any other experienced trader, This is my first attempt into harmonics. I'm a compleet beginner and still reading this thread. Does this seem allright to you? Thank you {image}
I could analyse this chart but I think you learn more and faster if you first provide us with what you see and what you expect price will do. Give us your thoughts and we take it from there.

I would recommend anyone who is struggling to write down with their own words what order flow, price action, structure and confluence is. Post it here so we can discuss it. You'll find all answers in Mr. Pips youtube channels: DCASTFX (https://www.youtube.com/channel/UCYMMaQVL85vGxjy2ffRgC5A) and Damian Castilla (https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w).

Good Luck!
Rise and rise again until lambs become lions
  • #11,815
  • Jan 13, 2015 3:44pm Jan 13, 2015 3:44pm
Quoting Vince1954
I took a quick short on GBPJPY as it made a pivot high at 78% retracement of the most recent high. I closed out quite quickly with 5 pips profit because I realised that in terms of the main swing, there could still be quite a lot of retracement to go.
Be sure to include a chart when you post about your trade. It helps us understand what you were seeing.
  • #11,816
  • Jan 13, 2015 3:46pm Jan 13, 2015 3:46pm
Quoting Mr_Burns
{quote} I could analyse this chart but I think you learn more and faster if you first provide us with what you see and what you expect price will do. Give us your thoughts and we take it from there. I would recommend anyone who is struggling to write down with their own words what order flow, price action, structure and confluence is. Post it here so we can discuss it. You'll find all answers in Mr. Pips youtube channels: DCASTFX (https://www.youtube.com/channel/UCYMMaQVL85vGxjy2ffRgC5A) and Damian (https://www.youtube.com/channel/UCw8CjBPrQlRH7jbiRbQcc1w)...
  • #11,817
  • Edited 4:17pm Jan 13, 2015 4:04pm | Edited 4:17pm
Quoting mansan
Hi Mr pip or any other experienced trader, This is my first attempt into harmonics. I'm a compleet beginner and still reading this thread. Does this seem allright to you? Thank you {image}
I would def recommend reading all this thread, i know 600 pages seems intimidating and will take a couple of months but its worth it.

in the meantime, here's a checklist i found helpful as i was going through the thread and wrote it down, thanks to 'Mack2013'

1. Long Term Orderflow
2. Short Term Orderflow
3. Ratio Confluence
4. AB = CD / ABCD
5. Structure (supply/demand)
6. Price Action (bar by bar analysis)

Mr Pip has provided video's and examples of all these key areas.
  • #11,818
  • Jan 13, 2015 4:16pm Jan 13, 2015 4:16pm
Quoting Mr_Burns
{quote} I find myself nodding in agreement with your analysis Also I think Mr. Pip touched this area in his latest video that sometimes you take an entry that is less than ideal because you need the confirmation that price wants to move in your direction. Update on my current trade: Locked in 10 pips.
cheers for the feedback, always good to have a fresh pair of eyes. btw your absolutely right about that second entry, before mr. pips vid i would never have taken that in a million years. the candles were compacted when i posted the chart but at the time that white candle looked HUGE, lol
oh, and congrats on that last trade
  • #11,819
  • Jan 13, 2015 6:14pm Jan 13, 2015 6:14pm
Quoting Mr. Pip
{quote} It's not that you had them identified incorrectly. It's that they do not qualify on any pattern. Tell me what pattern you thought you were looking at and I will show you the proper way to identify and where the pattern would have become invalid. Fair enough?
Hi Mr. Pip,

Thank you so much for your feedback....my original chart I thought I had identified an ABCD structure/pattern...but after your post I went back to the beginning of the thread (currently on page 24) and can see that it doesn't fit the criterion in your first charts.....I have re-done the chart to where I believe an ABCD would have been confirmed.

AB Leg(dominant swing) was the 50 Fib of XA (main swing)
BC Leg closed below the 78.6 Fib of AB
D (PRZ) I believe should have been at the 161.8 Fib extension of the AB (Dominant Swing)....I see now that if I use the AB length to project CD it falls short of the 127 Fib extension of AB

I suppose I must be missing how to confirm the simple patterns of ABCD, AB=CD which from what I have read thus far presents the foundation to harmonics.

Mr. Pip I certainly will take you up on your offer to illustrate where I went wrong and in turn promise to re-read and re-read some more this thread.

Respectfully and with great thanks,
Mikali
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  • #11,820
  • Jan 13, 2015 7:52pm Jan 13, 2015 7:52pm
Quoting Mikali
{quote} Hi Mr. Pip, Thank you so much for your feedback....my original chart I thought I had identified an ABCD structure/pattern...but after your post I went back to the beginning of the thread (currently on page 24) and can see that it doesn't fit the criterion in your first charts.....I have re-done the chart to where I believe an ABCD would have been confirmed. AB Leg(dominant swing) was the 50 Fib of XA (main swing) BC Leg closed below the 78.6 Fib of AB D (PRZ) I believe should have been at the 161.8 Fib extension of the AB (Dominant Swing)....I...
The way you drew the first chart my impression was that you believed it to be some sort of Butterfly or Crab as those are the only two that contain an X to A to B to C to D 5 points where D extends past X. I would have never thought from your first chart that you believed that to be an ABCD as there are only 4 points in that pattern. This is what I mean when I say to stop trying to run before you can walk.

I know they look really cool an luring but lets understand them before we trade them or try to identify them. I see you are at the beginning of the thread and you anxious to start practicing please slow down and I encourage you to post and participate but focus on what will make you a great trader. understand how to process the information on the chart first so that when a pattern or other type of setup becomes present you can know whether it is worth trading of dismissing. Watch my you tube videos they will help you fast track a bit then it's chart time and more chart time. Look up DCASTFX and Damian Castilla on youtube.
If you fail to plan, you plan to fail.
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