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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

  • #12,221
  • Jan 22, 2015 10:10pm Jan 22, 2015 10:10pm
I have traded basic patterns for most of my trading career ie Wedges, Flags, Head and Shoulders etc and have become not too bad at it. The interesting thing for me learning about Order Flow is from where those basic patterns are derived from. The break out of those patterns seems to be the dumb money of the Order Flow (as Mr Pip pointed out in the latest video). It's just an interesting view when I can see the normal BO I would have traded in the past and been uncertain if it was going to be a fake out and seeing Order Flow in action and understanding why it is breaking out and potentially entered the trade 40% of the move earlier.
As the lights go by so too do the shadows move
  • #12,222
  • Jan 22, 2015 11:33pm Jan 22, 2015 11:33pm
Currently watching this. The only flaw is the BC leg that only reached 61.8 instead of the desired 78.6 which perhaps constitutes the latest spike above level. All the moves however have been very harmonic with a fair bit of confluence at D including the 1.4200 round number.

Just thought I'd mention I am trading this system on low risk until I can find confidence in my setups.
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As the lights go by so too do the shadows move
  • #12,223
  • Jan 23, 2015 12:11am Jan 23, 2015 12:11am
Quoting Mr. Pip
{quote} Thanks for the comments, try the EJ its has decent movement and the spread is not too bad. If spread it an issue stay within the majors look at the AUDUSD NZDUSD
Just saw this. I have a EJ tick chart feed but forgot about heh. I will revisit and at a glance there is good movement, thanks. My spreads for most pairs are pretty good so shouldn't be a prob.
As the lights go by so too do the shadows move
  • #12,224
  • Jan 23, 2015 1:14am Jan 23, 2015 1:14am
Hi Mr pip, please check if I did any mistake on this particular trade. I label each steps with numbering from what I see first until the last step before entering the step.
1st Step: Check to see if there is any STRUCTURE, confluence of FIB, or ABCD
2nd Step: Check the ORDER FLOW (whether price making NSH OR NSL) and have expectation where price is going.
3rd Step: Look at candle close for invitation to entry.
4th Step: If there is follow through of the price, meaning if price closing further toward our expectation then we enter.

Of course, there are other step like setting where our TP, SL and looking at good RR before entry. But I would like to minimise the steps so that it is easier to understand. Thanks.

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  • #12,225
  • Jan 23, 2015 2:02am Jan 23, 2015 2:02am
I was hoping for a last minute Gartley to reverse but it doesn't look like I will get. I realise that the pattern was just above a lot of structure and had a lot of support to break through but I have also read the that is one of characteristics of this pattern; to make a new high/low then to reverse. I apologise Mr Pip if this pattern is outside of the discussion of the topic, I'm just trying to get amongst the nuts and bolts
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As the lights go by so too do the shadows move
  • #12,226
  • Jan 23, 2015 2:35am Jan 23, 2015 2:35am
The spread must have missed my stop by .1 to .2 of pip which is why I know my broker doesn't stop hunt because it's not the first time... still, too close hehe. Finally decided to move after long wait...
It's quiet in this thread during my time zone.... I can hear the crickets
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As the lights go by so too do the shadows move
  • #12,227
  • Jan 23, 2015 3:05am Jan 23, 2015 3:05am
I should have been more prepared with my profit taking, was staring a bit open mouthed when it hit a very strong support, bounced and I thought it was going back to top, I locked in the SL just above and was able to close a little lower a couple of bars later. I'm not fully sure if there is a formula on these patterns as to the profit taking side of things as I haven't read yet (or I just can't remember). Missed a bit of profit at the end due to my idleness, it may have the potential to go a lot lower but am happy with banking pips. R:R 26:56 pips.
(I let it the pass the ABCD TL because I was cheating a little and looking at the move on EU as it was breaking into new lows)
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As the lights go by so too do the shadows move
  • #12,228
  • Jan 23, 2015 3:06am Jan 23, 2015 3:06am
Good morning traders,, i would like to contribute and post my trades and charts analysis.
i need your help please in showing me how to create a screenshot to post a chart, i 'm using Windows 8.1. is there a special program to download or link to a website etc,,

Thanks
  • #12,229
  • Jan 23, 2015 3:12am Jan 23, 2015 3:12am
Quoting Georji
Good morning traders,, i would like to contribute and post my trades and charts analysis. i need your help please in showing me how to create a screenshot to post a chart, i 'm using Windows 8.1. is there a special program to download or link to a website etc,, Thanks
hi you can use the snipping tool included in windows. just search in apps
follow the flow
  • #12,230
  • Jan 23, 2015 3:12am Jan 23, 2015 3:12am
Quoting Georji
Good morning traders,, i would like to contribute and post my trades and charts analysis. i need your help please in showing me how to create a screenshot to post a chart, i 'm using Windows 8.1. is there a special program to download or link to a website etc,, Thanks
It depends on the trading platform you are using. I use MT4 and if I right click on the screen it will have an option to save the picture. I imagine most trading platforms would have this ability. If you want to just save what's on your screen though you can just push the PrtSc button on your keyboard, go to paint, right click and select paste.
As the lights go by so too do the shadows move
  • #12,231
  • Jan 23, 2015 3:22am Jan 23, 2015 3:22am
Quoting Matts Micro
{quote} It depends on the trading platform you are using. I use MT4 and if I right click on the screen it will have an option to save the picture. I imagine most trading platforms would have this ability. If you want to just save what's on your screen though you can just push the PrtSc button on your keyboard, go to paint, right click and select paste.
my problem is that i don't have Microsoft documents of any sort on this system to be a able to paste a screenshot to it, so i need any other web based solution.. I use Ninja trader and Market scope by FXCM
  • #12,232
  • Jan 23, 2015 3:23am Jan 23, 2015 3:23am
Quoting pampaq
{quote} Honesknavet: My Two Cents, we should expect a clear setup, in this case, the swing upward, breaking the last bearish pivot, and then makes a 1to1, ab = cd, traders, after this take profits, and generally, we have a pullback, 38% and 61%, then return to the main trend, to an area of clear MR. There, in that area of MR, evaluate, strength and weakness, we analyze the strength of the resistance, a single pivot, area closures and overlapping openings, etc. And we evaluate the strength of the trend, there comes the projection and deep. In those...
Some great points there pampaq, thank you
  • #12,233
  • Jan 23, 2015 3:28am Jan 23, 2015 3:28am
Quoting honestknave
{quote} I trade almost exclusively EURUSD now, but I used to follow more pairs. My criteria used to be decent volatility coupled with harmonic compliance. You might want to take a look at USDJPY, AUDUSD and NZDUSD. Please bear in mind that I haven't traded those pairs for a while, and the nature of any pair changes over time. Hope that helps
Sorry Mr.Pip, I only just noticed that we posted at the same time which made my comment somewhat superfulous
  • #12,234
  • Jan 23, 2015 3:33am Jan 23, 2015 3:33am
first trade got stopped out for -10.3 pip re-entered and got stopped out for +9.4 pip so down about 1 pip at the mo

https://charts.mql5.com/6/802/gbpusd...ce-limited.png
  • #12,235
  • Jan 23, 2015 3:34am Jan 23, 2015 3:34am
Quoting Georji
{quote} my problem is that i don't have Microsoft documents of any sort on this system to be a able to paste a screenshot to it, so i need any other web based solution.. I use Ninja trader and Market scope by FXCM
Hello Georji,

NinjaTrader has this functionality built in. You just need to right-click on the chart like so:

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  • #12,236
  • Jan 23, 2015 3:50am Jan 23, 2015 3:50am
With all this central banks activity trading is very volatile and I stayed away for a few days
Now today on the French stock index we had a confluenceof fibs ,marketstructure and a 1:1
I entered but after a few bars tgere was a lack of ongoing momentum and closed at a measly + 1 point
Afterwards the market tried again and still looks like it wants to continue upwards but with little conviction.
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  • #12,237
  • Jan 23, 2015 3:51am Jan 23, 2015 3:51am
Quoting honestknave
{quote} Hello Georji, NinjaTrader has this functionality built in. You just need to right-click on the chart like so: {image}
Thank you very much,, i will try it later,, off to work now
  • #12,238
  • Jan 23, 2015 4:04am Jan 23, 2015 4:04am
LL expect LH, LH @61.8 took ab=cd at the close of the second bearish candle, see how it plays out
https://charts.mql5.com/6/802/gbpusd...-limited-2.png
  • #12,239
  • Jan 23, 2015 4:05am Jan 23, 2015 4:05am
Was busy reviewing last trade and missed the C sell of the next move. There seems to be a little confluence at D with recent lows.
(not marked but also close to the AB 127 extension).
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As the lights go by so too do the shadows move
  • #12,240
  • Jan 23, 2015 4:21am Jan 23, 2015 4:21am
Good Morning Traders,

Here is my first trade of the day USDJPY M5 AB=CD
Point B @ 38 Fib of the XA Leg confluence with prior structure my expectation of bullish bias
Point C @ 78.6 of the AB Leg with confluence of prior structure....I did consider aggressive C Sell but decided not as it was counter trend to XA Leg
Point D was confluence 127 Fib extension of AB Leg and 127 Fib extension BC Leg

SL @ 118.00 Round Number
TP @ 50 Fib of AB Leg of structure (not by the rules as BE at 38 Fib of AD and TP @ 61 Fib)

RR 1 :2.5 Banked 27.4 Fibs (charts below)

I look forward to all comments and feedback on this trade.

Respectfully and with thanks,
Mikali
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