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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

  • #12,401
  • Jan 26, 2015 1:47pm Jan 26, 2015 1:47pm
Quoting Matts Micro
Hit my PRZ. The bulls are strong atm though so not giving it huge amount of room. Risk 6 pips {image}

Found today difficult with a few up and down trades. I am still learning this method but I need to continue my old system as well or else my account wont progress. I generally trade in the direction of my old system but try to find the entries using order flow and the other skills Mr Pip is showing us. I've been on the AU with the expectation that the selling will continue due to TA and with a bit of fundamental analysis too. Pity PA hasn't wanted to play along however hehe. A part of my TA are the 9 hrly inside bars that broke below with Monday open. Then the BO of the hrly falling TL suggested the bulls were up for a fight. At this point I have two opposing signals (amongst others) but at the very least I was expecting a pullback from the bullish BO after a few candles to return to base.... but it hasn't happened, still. There were a few setups with a nice Gartley and other order flow movements that suggested I was going to get the correction but every time the bulls jumped back on board. I'm not entirely sure why, perhaps the AU is being used as a safe haven at this time but the move is also mirrored in other pairs... perhaps just a difficult time to trade with the fundamentals. Anyhows all I'm pointing at is sometimes in this market things seem obvious but the complete opposite ends up happening. I haven't had a bad day nor a good but just a very long one

I decided to leave one of my order flow trades open due to unreached profit but instead position myself for the move that I am expecting to come. It is still a fairly low risk for expectations (18 pips).


Quoting Mr. Pip
{quote} You are good keep working it out!
Thanks Mr Pip, I still have a lot to get through but it is by no means a choir and enjoy making my way through the thread
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As the lights go by so too do the shadows move
  • #12,402
  • Jan 26, 2015 3:22pm Jan 26, 2015 3:22pm
Quoting Mr. Pip
{quote} 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.
Yes sir. I will do that. Thank you again for your time. Tonete
  • #12,403
  • Jan 26, 2015 3:35pm Jan 26, 2015 3:35pm
Quoting L.Fibonacci
{quote} 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...
I respect and understand what you are saying. Thank you, really. I'm sure your indicator is very helpful and there will be people interested. However, we want to learn how to trade from scratch and with a blank chart. Then maybe some day count on this awesome looking software to speed things up. In all honesty thank you. And of corse you can help. Get in this thread and give it a try with a blank chart! You would be surprised the things you can learn from Mr. Pip. Good luck to you L. Fibonacci. Tonete
  • #12,404
  • Jan 26, 2015 5:05pm Jan 26, 2015 5:05pm
bat
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  • #12,405
  • Jan 26, 2015 7:48pm Jan 26, 2015 7:48pm
This area has been a major area of S/R. Looking at a possible AB=CD. If the bears come out to play, this could be a good area to look for shorts. WATCHING!
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Damn The Torpedoes, Full Speed Ahead!
  • #12,406
  • Edited 9:20pm Jan 26, 2015 9:09pm | Edited 9:20pm
Waiting for PA to confirm the swing but so far looks like further downside.

Edit: entered with 12 pip risk.
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As the lights go by so too do the shadows move
  • #12,407
  • Jan 26, 2015 9:57pm Jan 26, 2015 9:57pm
Hit SL's on my AU trades from yesterday. I tightened the risk to one BE and the other -12 (plus the horrible swap of AU shorts). Just got taken from the knife catching EJ too... going well hehe. I thought it maybe a possibility due to the shorter retracement of the BC leg (61.8 instead of desired 78.6). I may try re-entering at the 161.8 of the XA leg with very tight risk.
As the lights go by so too do the shadows move
  • #12,408
  • Jan 26, 2015 10:22pm Jan 26, 2015 10:22pm
Got taken again for -6 again... tough day/week

I think my AU trades were influenced by the weather in the US that is probably driving the US dollar down, which is the unexplained movement I couldn't get around yesterday. When all else fails, blame the weather

Edit: Was taken by .4 of a pip and yesterday was taken on the AU by .2 before a large move too.... really need to work on that trade management...
As the lights go by so too do the shadows move
  • #12,409
  • Jan 27, 2015 1:46am Jan 27, 2015 1:46am
I think some of the lessons on setting expectations and how to observe the correct price rotation are awesome. The single most valuable resource being the recorded live session, and Mr Pip does it all for free. I recently cancelled my memberships to other paid sites because they were unable to prove their claims of success. I have learned more from Mr Pip for free.

I now trade only the AUD/JPY during the Asian sessions, (or USD/JPY sometimes). The AUD/JPY often gives nice harmonic moves during the session. The chart is from today, and it went a bit further than expected due to some fundamental support. During the management part of the trade I now say to myself "have the facts of my case changed?". I did not exit because of upcoming news, as I have usually done in the past only to then miss the majority of the move that I am trading.

Thankyou for every bit of effort Mr Pip.
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  • #12,410
  • Jan 27, 2015 3:01am Jan 27, 2015 3:01am
Quoting Jamos
I think some of the lessons on setting expectations and how to observe the correct price rotation are awesome. The single most valuable resource being the recorded live session, and Mr Pip does it all for free. I recently cancelled my memberships to other paid sites because they were unable to prove their claims of success. I have learned more from Mr Pip for free. I now trade only the AUD/JPY during the Asian sessions, (or USD/JPY sometimes). The AUD/JPY often gives nice harmonic moves during the session. The chart is from today, and it went a...


I closed the short as price became exhausted. The price then formed a pattern (alternate bat) where the CD leg 1.13 extension of the XA leg formed a confluence zone. The various confluences changed the facts of my case from a short bias to a long bias. I then waited for the downward move to lose its momentum and entered long. It was a risky trade so I am monitoring very closely. Although I am still slightly unsure as to when to look for price rotation or when to respect order flow. The trade had good confluences which created my case.
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  • #12,411
  • Jan 27, 2015 3:59am Jan 27, 2015 3:59am
Quoting Tonete
{quote} I respect and understand what you are saying. Thank you, really. I'm sure your indicator is very helpful and there will be people interested. However, we want to learn how to trade from scratch and with a blank chart. Then maybe some day count on this awesome looking software to speed things up. In all honesty thank you. And of corse you can help. Get in this thread and give it a try with a blank chart! You would be surprised the things you can learn from Mr. Pip. Good luck to you L. Fibonacci. Tonete
thanks. I'll be watching this thread. maybe I'll find some additional improvements to my POV
  • #12,412
  • Jan 27, 2015 5:22am Jan 27, 2015 5:22am
A quiet morning on the thread.

Currently short EURUSD.

The immediate order flow had been bearish after price failed to hold above 1.1300 (breakout failure).

Entered on the pullback to 1.1300 which coincided with 38.2 fibs.

Initial SL was just above major 23.6 fib, above Monthly Support and Weekly Pivot (which price had been interacting with).

Price has now moved towards the golden zone of the major swing which started at Frankfurt open. Keeping a close eye on the trade for signs of the longer term bullish order flow resuming.
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  • #12,413
  • Jan 27, 2015 5:26am Jan 27, 2015 5:26am
Currently in a st order flow/C buy. If PA reaches to the XA 78.6 I think it is a confirmed Bat.
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As the lights go by so too do the shadows move
  • #12,414
  • Jan 27, 2015 5:36am Jan 27, 2015 5:36am
Quoting honestknave
A quiet morning on the thread. Currently short EURUSD. The immediate order flow had been bearish after price failed to hold above 1.1300 (breakout failure). Entered on the pullback to 1.1300 which coincided with 38.2 fibs. Initial SL was just above major 23.6 fib, above Monthly Support and Weekly Pivot (which price had been interacting with). Price has now moved towards the golden zone of the major swing which started at Frankfurt open. Keeping a close eye on the trade for signs of the longer term bullish order flow resuming. {image}
Update: closed out at +20 pips.
Price didn't convince me that it has the strength to push further down.
A descending triangle was on the cards, but my suspicion is that the bullish order flow may soon resume. This caused me to exit.
Attached Image (click to enlarge)
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  • #12,415
  • Jan 27, 2015 5:37am Jan 27, 2015 5:37am
First trade of the day - long EURJPY on M5 after retracing from SH to 61.8% and making a bullish candle. Then closed at -10 pips 2 candles later when price reversed against me with demand apparently disappearing.
https://charts.mql5.com/6/834/eurjpy...-capital-3.png
  • #12,416
  • Jan 27, 2015 5:45am Jan 27, 2015 5:45am
Yeah a bit slow on here as are the markets so far.

Took this risky trade on the GBPUSD against order flow.

The pair have been bullish over yesterday but the momentum had slowed but the market was still in quite a tight range. There was some previous structure at the initial swing up then this corrected to the golden zone and I was looking initially for a 1:1 completion up close to the RN. That said as I was against OF I wanted to manage it tight and try to take some profit, with the risk of leaving some pips on the table, but I can cope with that.

Decided to close the trade when price hit the structure and slowed, so happy to walk away with 12 pips. Time for some food

Attached Image (click to enlarge)
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Also on a side note. The entry may look a little random, but the issue is my chart still not picking up all the ticks for some reason. My entry was at the end of a bull candle but then when I reloaded (was messing with timeframes) it loaded and what I originally saw as 1 candle was now showing as about 3-4.

Here is an example of what I am talking about from a trade yesterday.

Live trading chart (not making as many candles)
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Then a chart after I reloaded with loads more candles.

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Strange!!
  • #12,417
  • Jan 27, 2015 5:46am Jan 27, 2015 5:46am
Hello, There is 2nd part of HT entry strategies article @ www.fxentourage com
I found it interesting and helpfull
  • #12,418
  • Jan 27, 2015 6:09am Jan 27, 2015 6:09am
Quoting honestknave
{quote} Update: closed out at +20 pips. Price didn't convince me that it has the strength to push further down. A descending triangle was on the cards, but my suspicion is that the bullish order flow may soon resume. This caused me to exit. {image}
Nice, Im also on the sidelines and waiting for the bulls to take over. Really slow atm.
Rise and rise again until lambs become lions
  • #12,419
  • Jan 27, 2015 6:13am Jan 27, 2015 6:13am
Quoting Mr_Burns
{quote} Nice, Im also on the sidelines and waiting for the bulls to take over. Really slow atm.
Yes, that awful grind in the hour before NY open
I've reloaded long already, but will be managing it aggressively in case I've jumped the gun. There may be another bearish drive deeper into the golden zone first.
Attached Image (click to enlarge)
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  • #12,420
  • Jan 27, 2015 6:15am Jan 27, 2015 6:15am
Quoting Matts Micro
Currently in a st order flow/C buy. If PA reaches to the XA 78.6 I think it is a confirmed Bat. {image}
TP +20. PA in the PRZ for Bat, waiting for a candle confirmation for entry.
As the lights go by so too do the shadows move
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