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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

  • #11,941
  • Jan 15, 2015 1:43pm Jan 15, 2015 1:43pm
Quoting Mr_Burns
{quote} Hi Wolves77, Regarding long term and short term order flow I use long term for overall expectation and short term for entry/exit points (areas of exhaustion) but I would also like to hear Mr. Pips thoughts on this. Looking at your chart we can see that long term order flow is bullish but the bulls look exhausted (a very deep correction with a strong bear candle). From there bulls only managed to reach structure without making a NSH (9900 area) and then falled over. This tells me that we are in a area of exhaustion and most likely we will...
I sometimes enter on the short term and sometimes take a short counter trade, I did the in the trading video I posted. But most importantly use the short term order flow to manage your position.
If you fail to plan, you plan to fail.
  • #11,942
  • Jan 15, 2015 1:44pm Jan 15, 2015 1:44pm
Quoting honestknave
{quote} For results trading this style only... Tuesday and first half of Wednesday on Demo to get back in the swing(!) of things +58 pips: {image} Second half of Wednesday and today on Real +55 pips: {image}
well done!
If you fail to plan, you plan to fail.
  • #11,943
  • Jan 15, 2015 1:47pm Jan 15, 2015 1:47pm
Quoting PipTrendz
{quote} Yeah me too, keep just watching as the markets are a little crazy at the moment and I am struggling to pull the trigger. EURUSD is a little too volatile for me at the moment, think if I trade it will be a losing one so just watching for now. GBPUSD is looking more likely for a trade at the moment, very much in a range and looking for a NSL on the short term soonish, then I may be looking for a trade if the bulls can gather up some strength.
Today was a real bitch as we had plenty of candle volume but little movements in swings. PA sucked today but no one said it would be easy LOL
If you fail to plan, you plan to fail.
  • #11,944
  • Jan 15, 2015 1:50pm Jan 15, 2015 1:50pm
Quoting Mr. Pip
{quote} That would not be a Gartley.
Thanks Mr. Pip
  • #11,945
  • Jan 15, 2015 1:50pm Jan 15, 2015 1:50pm
Quoting honestknave
Well, a painful day for me after all despite dodging the SNB fiasco. On my real account I have an emergency SL lodged with my broker. It is well out the way because I close my trades manually. Internet went down while the trade was slightly in profit, shortly after entry. When the internet came back again, the emergency SL had been hit. -36 pips rather than the -5 if I had been able to manage the trade myself. But without the emergency SL, and if the internet had been down for longer, it could have been far worse.
Shake it off, put it behind you and recover. Nothing else to do. Be happy that you had a plan in place that saved you from losing more. This should be a lesson to all. We must always be prepared for the worst.
If you fail to plan, you plan to fail.
  • #11,946
  • Jan 15, 2015 2:01pm Jan 15, 2015 2:01pm
Quoting pampaq
{quote} entry {image}
-22 Pips,
I should, be respected breaking the pivot of reference, never gave, so I should have left earlier, finally a negative day, -9, follow and learn. regards
  • #11,947
  • Jan 15, 2015 2:03pm Jan 15, 2015 2:03pm
Quoting pampaq
{quote} -22 Pips, I should, be respected breaking the pivot of reference, never gave, so I should have left earlier, finally a negative day, -9, follow and learn. regards
Today was just tough shake it off, you are doing great!
If you fail to plan, you plan to fail.
  • #11,948
  • Jan 15, 2015 2:12pm Jan 15, 2015 2:12pm
Quoting Mr_Burns
{quote} Hi Wolves77, Regarding long term and short term order flow I use long term for overall expectation and short term for entry/exit points (areas of exhaustion) but I would also like to hear Mr. Pips thoughts on this. Looking at your chart we can see that long term order flow is bullish but the bulls look exhausted (a very deep correction with a strong bear candle). From there bulls only managed to reach structure without making a NSH (9900 area) and then falled over. This tells me that we are in a area of exhaustion and most likely we will...

Thanks c49 and Mattsmicro for your help, all feedback is read and taken onboard

Have to say tho, Mr burns you've hit the nail on the head here, your explanation is exactly what i was looking for but couldn't figure out. It seems so obvious now, but long term orderflow was still bullish. Another fundemental mistake on my behalf, although i don't mind now i've seen it. After saying that i would still have considered the second trade with all the reasons, but would have been more cautious and looked for further confirmation given the circumstances.

nice one. cheers
  • #11,949
  • Jan 15, 2015 2:53pm Jan 15, 2015 2:53pm
Just one trade for me today, very late on, and after readng this thread i think i got lucky missing the bulk of the day.

Attached Image (click to enlarge)
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  • #11,950
  • Jan 15, 2015 6:11pm Jan 15, 2015 6:11pm
Quoting Wolves77
Just one trade for me today, very late on, and after readng this thread i think i got lucky missing the bulk of the day. {image}
Nicely done!
If you fail to plan, you plan to fail.
  • #11,951
  • Jan 15, 2015 8:48pm Jan 15, 2015 8:48pm
Quoting Mr. Pip
{quote} Shake it off, put it behind you and recover. Nothing else to do. Be happy that you had a plan in place that saved you from losing more. This should be a lesson to all. We must always be prepared for the worst.
Absolutely - adapt and advance
  • #11,952
  • Jan 16, 2015 2:09am Jan 16, 2015 2:09am
Could potentially be a Gartley with the pullback of BC (or AB if Gartley) being 61.8 but the green line of 78.6 is a daily fib so I am expecting further movement up.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #11,953
  • Jan 16, 2015 2:55am Jan 16, 2015 2:55am
Quoting Matts Micro
Could potentially be a Gartley with the pullback of BC (or AB if Gartley) being 61.8 but the green line of 78.6 is a daily fib so I am expecting further movement up. {image}
Of course it's probably a gartley (forehead slaps self). It's a bit like a rubber band winding up and the last leg hasn't been completed yet. I have increased my risk on this trade below the 78.6 fib (of BC), a bit higher than I like but should be good reward if it pays off. If not.. next trade.
As the lights go by so too do the shadows move
  • #11,954
  • Jan 16, 2015 3:19am Jan 16, 2015 3:19am
Pity I worked it out too late, would have taken profit on the BC leg and then entered a low risk trade on the tweezer formation spot on the 78.6 fib at D. It's been a learning experience though.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #11,955
  • Jan 16, 2015 4:45am Jan 16, 2015 4:45am
Quoting Matts Micro
Pity I worked it out too late, would have taken profit on the BC leg and then entered a low risk trade on the tweezer formation spot on the 78.6 fib at D. It's been a learning experience though. {image}
Well that setup failed...
EU just collapsed for some reason. If I have my pattern wrong please let me know
As the lights go by so too do the shadows move
  • #11,956
  • Jan 16, 2015 5:15am Jan 16, 2015 5:15am
Got myself off to a winning start for the day. Just took this on completion of an ABCD and into an area of support. Took profit at 50% of the swing as against order flow and managed this one aggressively.

+10 pips

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  • #11,957
  • Jan 16, 2015 5:19am Jan 16, 2015 5:19am
Quoting Matts Micro
{quote} Well that setup failed... EU just collapsed for some reason. If I have my pattern wrong please let me know
I am still learning harmonic.
but for EU, I will not trade long for whatever pattern formed, this currency is too bearish.
will seek pattern to short instead.
just my 0.00001 cent
  • #11,958
  • Jan 16, 2015 5:27am Jan 16, 2015 5:27am
Quoting Idkurv
{quote} I am still learning harmonic. but for EU, I will not trade long for whatever pattern formed, this currency is too bearish. will seek pattern to short instead. just my 0.00001 cent
Thanks and yah I agree
I was just looking for a quick retrace (not long term). The AU has climbed steadily of late but imo it is just so it can be shorted from a higher level with a possible rate cut not too far away. It was just a matter of who fell harder.
As the lights go by so too do the shadows move
  • #11,959
  • Jan 16, 2015 5:44am Jan 16, 2015 5:44am
Well that is annoying!! Exited this trade as didn't like that price was struggling and spiking a little too much for my liking. Look that that yellow line at the bottom, that was my TP and it hit it to the pip

I guess at least I can see that my expectation was correct, plus this is not a real money account so nothing lost.

Attached Image (click to enlarge)
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Edit: Missed my buying op too by typing this post out, schoolboy error right there, would have been 10 pips up so far
  • #11,960
  • Jan 16, 2015 6:45am Jan 16, 2015 6:45am
Just placed a losing trade

My entry was based on price slowing and had produced a slightly higher low than previously so I believed price may be turning. Price went against me straight away but then returned and got to 7-8 pips profit. At this point I moved my SL to BE but then thought I wanted to give it more room and put it back below structure. This was my error here I think. As I was against OF I should have managed aggressively and at least had it at -2 or BE.

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