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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

  • #12,381
  • Edited 11:03am Jan 26, 2015 9:32am | Edited 11:03am
Short EURUSD, expected a retest but no break of NSH and now I expect a retest and potentially a weak NSL.
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Should note that this is a bit aggressive and we could potentially see a retest (ie a double top on a shorter perspective) but ideally break structure @1.1250 before that.

And congrats on a really nice trade pampaq

EDIT: Stopped out, -15, should've waited for a confirmation from short term order flow for this trade.
Rise and rise again until lambs become lions
  • #12,382
  • Jan 26, 2015 9:35am Jan 26, 2015 9:35am
In short again... deceleration into 61.8AB=CD with structure

Attached Image (click to enlarge)
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Edit: looks like we're in the same trade, Mr_Burns
  • #12,383
  • Jan 26, 2015 10:03am Jan 26, 2015 10:03am
Quoting DeepakJ
Goodmorning everybody, This is my progress so far. I put all my thoughts on the chart. Let me know if it clear like this Any comments are appreciated {image}
Good job. I liked that you waited until price was moving more in line with your expectations before committing to a trade and I believe your exit was correct.
  • #12,384
  • Jan 26, 2015 10:10am Jan 26, 2015 10:10am
Quoting pampaq
{quote} Tp fully met, everything in place, re testing PRZ and then 38% and 61% was given. I hope we have been able to take advantage. +160 pips regards {image} {image}
Cha ching!

Good job
  • #12,385
  • Jan 26, 2015 10:25am Jan 26, 2015 10:25am
Quoting pampaq
Another trade in usdcad is a sell limit, Greetings {image} {image}
+25 Adjust sl, area MS
  • #12,386
  • Jan 26, 2015 10:29am Jan 26, 2015 10:29am
Hit my PRZ. The bulls are strong atm though so not giving it huge amount of room. Risk 6 pips
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As the lights go by so too do the shadows move
  • #12,387
  • Jan 26, 2015 10:47am Jan 26, 2015 10:47am
Quoting honestknave
In short again... deceleration into 61.8AB=CD with structure {image} Edit: looks like we're in the same trade, Mr_Burns
Update: out at +14. Missed the deceleration into support and exited late as price broke away.

Previous trade out at +10, also late.

Kudos to all you guys that regularly post live trades - I've found it very difficult to keep on top of trading and annotate live charts etc.

Calling it a day, having spent most of it shorting a bullish market. All in all, a salmon day:
https://www.youtube.com/watch?v=kS_K61mEKdo
  • #12,388
  • Jan 26, 2015 11:38am Jan 26, 2015 11:38am
Quoting L.Fibonacci
{quote} Just sharing some good, in my opinion, harmonic patterns. It's not and indicatior - just the way to search all kinds of markets for good harmonic trades. i understand you like it rough, but maybe some of us don't. At the end it's all about finding the best harmonic patterns. And BTW since you posting MT4 screenshots, are you a Metatrader distributor?
L. Fibonacci it is nice that you are trying to help with a what seems cool indocator, but the rules of this thread are clear and simple by the person who started the thread Mr. Pip: no indicators. Simply a blank chart. That way you will learn how to trade the real way. It is his thread and his opinion. Period. (Plus, we are learning a more refined way to qualify for harmonic patterns that have a higher % of success in here. And Matts, keep on posting man. I think you are on the right track! Tonete
  • #12,389
  • Jan 26, 2015 11:53am Jan 26, 2015 11:53am
Quoting Mack2013
{quote} Good job. I liked that you waited until price was moving more in line with your expectations before committing to a trade and I believe your exit was correct.

One of the hardest things to do when trading: Waiting. If gets boring sometimes but we have to be patience.
  • #12,390
  • Jan 26, 2015 12:02pm Jan 26, 2015 12:02pm
Quoting Tonete
{quote} Dear Mr. Pip: First of all, I would like to thank you for all the time, honesty and superb first class teachings in regards to this clean chart Forex trading strategy/approach. I can't thank you enough for bringing true light to most of us frustrated traders. I believe this thread has been the biggest eye-opener I have gone through over the span of a year and a half full with 3 to 4 hours of daily studying and lagging indicators. Bottom line is I WILL NOT STOP until I can read the markets in a near fashion as yours. Although my intend is...
I understand exactly what you are saying and appreciate your comment. The ROE to every pattern is posted in the attachments section. Both a visual and the exact rules and trade management. I want and encourage anyone at any lever to post and ask questions. We are here to help and it's also the only measure we have that lets us know if the information is being absorbed correctly.

Forget the patterns and learn to read the chart master the order flow and trading in general will become a lot easier.
If you fail to plan, you plan to fail.
  • #12,391
  • Jan 26, 2015 12:03pm Jan 26, 2015 12:03pm
Quoting Tonete
{quote} L. Fibonacci it is nice that you are trying to help with a what seems cool indocator, but the rules of this thread are clear and simple by the person who started the thread Mr. Pip: no indicators. Simply a blank chart. That way you will learn how to trade the real way. It is his thread and his opinion. Period. (Plus, we are learning a more refined way to qualify for harmonic patterns that have a higher % of success in here. And Matts, keep on posting man. I think you are on the right track! Tonete
Sure mate, you are 100% right. Maybe I look on it in a bit different way then you guys. Finding patterns is one thing, and fine tunning the entries based on other meaningful aspects like price behavior at the PRZ, support and resistance levels... the other. Software like Formationseeker is plain making your life easier, at the same time you can add or adjust your measurements on that platform as well - you get your base and you can keep twicking.
I just like innovation and evolution - make our lives much easier, let you have more time for your family and hobbies, etc.
Harmonic trading is awesome. No metter how you find your patterns as long as you make money right - that's why we are here.
Respect to learning and rough drawings, and Mr.Pip. If I can be of any help let me know
  • #12,392
  • Jan 26, 2015 12:10pm Jan 26, 2015 12:10pm
Trying that short again, currently -1. A little concerned about the likelihood of this one playing out here. Perhaps I should have waited to enter later after the appearance of a more decisive bearish candle. Time will tell.

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  • #12,393
  • Jan 26, 2015 12:22pm Jan 26, 2015 12:22pm
Quoting Mack2013
{quote} You`re exactly right. You read PA very well, Matts. I guess my question would be. Should I have taken the second trade at all and if so, should I have adjusted stops to candle high (tighten stops) when there was no follow through? I think I kind of answered my own questions but wouldn`t mind some reassurance. Trade management is one of my weak points. I second guess my stop placements. I hate taking bigger loses then necessary.
The question is not whether the trade should have been taken or not anyone can argue reasons for taking or dismissing trades. What is important is that you saw an opportunity and you took it.

Always ask yourself does this traded offer proper risk reward? Do I have a strong enough case to risk capital? And lastly how aggressively do I need manage this setup? Stop goes where you know price should not be.
If you fail to plan, you plan to fail.
  • #12,394
  • Jan 26, 2015 12:34pm Jan 26, 2015 12:34pm
Quoting Matts Micro
Mr Pip if you think I am posting too much pls let me know and I will dim it back a bit. I was just looking back over the last page and all I can see is my name and looks a bit like spam heh
You are good keep working it out!
If you fail to plan, you plan to fail.
  • #12,395
  • Jan 26, 2015 12:40pm Jan 26, 2015 12:40pm
Quoting L.Fibonacci
{quote} Just sharing some good, in my opinion, harmonic patterns. It's not and indicatior - just the way to search all kinds of markets for good harmonic trades. i understand you like it rough, but maybe some of us don't. At the end it's all about finding the best harmonic patterns. And BTW since you posting MT4 screenshots, are you a Metatrader distributor?
Easy tiger, there will be no rocks thrown in my pond! We all need to get along. I encourage and expect traders to know what they decide to trade. Just because a pattern presents it self does not mean its trad-able. Shortcuts do not make life easier some shortcuts lead you off a cliff.
If you fail to plan, you plan to fail.
  • #12,396
  • Jan 26, 2015 12:44pm Jan 26, 2015 12:44pm
Quoting jpnavigate
{quote} Not taking sides here; however, Matts Micro and L. Fibonacci...let's keep this thread professional. Thanks!
Yes please guys there are many ways to skin a cat those that want to stay in the shadows are free to do so.
If you fail to plan, you plan to fail.
  • #12,397
  • Jan 26, 2015 12:45pm Jan 26, 2015 12:45pm
Quoting PipTrendz
Well this is another annoying trade for me, been on this trade for 2 hours. Price was moving sideways but short term order flow was bullish. Price reacted in the golden zone for an ABCD to the upside so I entered after a strong bullish candle. My initial SL was at 1.5005 but then I moved it down to 1.5000 for the RN and thought that price should hold. This proved to be a good decission as price hit a low of 1.5005 so would have been taken out. Then price made a good jump before I was taken out and I finally moved my SL to BE+2. Then price came down...
I think you did fine.
If you fail to plan, you plan to fail.
  • #12,398
  • Jan 26, 2015 12:48pm Jan 26, 2015 12:48pm
Quoting honestknave
On the topic of patterns... My charts used to be a like a zoo. Bats, butterflies, crabs, sharks. You name it, I had probably forced it onto a chart somewhere at some point. Then I started to think about the significance of these patterns. What makes them work, at least some of the time? Each pattern is a combination of swings. This combination is telling you a rough story about strength and weakness. In the absence of any other technique, it does an OK job. But ratios don't tell the whole story. Order flow, structure, context, momentum, acceleration...
If you fail to plan, you plan to fail.
  • #12,399
  • Jan 26, 2015 1:34pm Jan 26, 2015 1:34pm
Quoting Mr. Pip
{quote} The question is not whether the trade should have been taken or not anyone can argue reasons for taking or dismissing trades. What is important is that you saw an opportunity and you took it. Always ask yourself does this traded offer proper risk reward? Do I have a strong enough case to risk capital? And lastly how aggressively do I need manage this setup? Stop goes where you know price should not be.
And lastly how aggressively do I need manage this setup?
I just wanna highlight this question because I and probably a few others could use some more knowledge on trade management. For example let's say your against short term order flow but with long term, do you give that trade more room and vice versa? Maybe you addressed all the aspects in the latest video, will have a look at it again.
Rise and rise again until lambs become lions
  • #12,400
  • Jan 26, 2015 1:47pm Jan 26, 2015 1:47pm
Ratios and divergences.
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