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Ratios & Harmonics: a Different Way to Trade

  • #12,521
  • Jan 29, 2015 3:53am Jan 29, 2015 3:53am
Well done Deepak.
  • #12,522
  • Edited 6:16am Jan 29, 2015 4:13am | Edited 6:16am
Entered short on EURJPY @133.319, ABCD completion, expecting a retracement to 61.8 (133.89)
On the longer term (not shown in chart) we reversed in the golden zone so if PA and STOF (Short Term Order Flow) confirms we could look for a bigger ABCD to the downside, expectation 132.

Attached Image (click to enlarge)
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EDIT: Added bigger picture
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Nice to see you look at it with the same expectation Matt, should confirm my trade

EDIT2: didn't work out -10
Rise and rise again until lambs become lions
  • #12,523
  • Jan 29, 2015 4:33am Jan 29, 2015 4:33am
Morning All

Cable 1 Min short in the Golden Zone.
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  • #12,524
  • Jan 29, 2015 5:05am Jan 29, 2015 5:05am
Stops to BE
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  • #12,525
  • Jan 29, 2015 5:09am Jan 29, 2015 5:09am
profit target hit +18 pips
  • #12,526
  • Jan 29, 2015 5:33am Jan 29, 2015 5:33am
Quoting Aj1
Morning All Cable 1 Min short in the Golden Zone. {image}
Annoyed with myself a little, I was looking at the exact same thing, golden zone and structure. Think the news and the jump up into the GZ and then the reaction back down made me hesitate, then it was too late

Nicely traded by you though
  • #12,527
  • Jan 29, 2015 6:28am Jan 29, 2015 6:28am
Thanks PipT.

I am currently looking at the Eu 5 min.
Looking to short with Orderflow, in the targeted area, lets see what happens.
Attached Image (click to enlarge)
Click to Enlarge Name: eur 5min.PNG Size: 67 KB
  • #12,528
  • Jan 29, 2015 6:48am Jan 29, 2015 6:48am
Hi,

I am Yu. I've recently started do harmonic trading since finding this great thread.
First of all, I really appreciate Mr.Pip's and the other contributors of this thread.

I may ask a ridiculous question, but I truly want to get harmonic way of trading.
I believed that there were two Gartleys to trade, but the points of D were 1.618 extensions. I lost little confidence to identify and execute my trades.

If possible, please give me a comments or tell me any posts to review.
I have red 100 posts and watched DCASTFX's (Mr.Pip's) videos.

Thank you for your time and Good trading.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJP 5min.PNG Size: 108 KB
  • #12,529
  • Edited 9:29am Jan 29, 2015 7:20am | Edited 9:29am
Long EURJPY, looking for AB=CD to 133.97, price retraced into structure as well as the 61.8 zone.

Attached Image (click to enlarge)
Click to Enlarge Name: JPY (-).png Size: 67 KB


EDIT: Out BE & reentered. Out of the trade, looks like bears are taking over in the golden zone.
EDIT2: Hm, expectations were met even though price choose a really ugly looking way.
Rise and rise again until lambs become lions
  • #12,530
  • Jan 29, 2015 8:25am Jan 29, 2015 8:25am
I am long GBP/USD, based on consolidation around the .382 of a longer term upswing confluent with at least some previous structure, and seeing PA rejection of the level. Am away from my computer now but will post a chart later showing how it plays out for good or ill.
  • #12,531
  • Jan 29, 2015 8:29am Jan 29, 2015 8:29am
Quoting Aj1
Stops to BE {image}
Where did you initially have your stop placed? Looks like there was a huge bullish surge to the 78.6 retracement.
  • #12,532
  • Jan 29, 2015 9:09am Jan 29, 2015 9:09am
Quoting Yuyu.K
Hi, I am Yu. I've recently started do harmonic trading since finding this great thread. First of all, I really appreciate Mr.Pip's and the other contributors of this thread. I may ask a ridiculous question, but I truly want to get harmonic way of trading. I believed that there were two Gartleys to trade, but the points of D were 1.618 extensions. I lost little confidence to identify and execute my trades. If possible, please give me a comments or tell me any posts to review. I have red 100 posts and watched DCASTFX's (Mr.Pip's) videos. Thank you...
More videos are available on youtube under Damian Castilla. I believe this subset of videos represents the evolution of this thread.

As you journey through the thread (around page 300 or so) you'll start to notice less emphasis being placed on patterns and more emphasis being placed on price action, structure, and order flow analysis.

So, where do Harmonics fit in? Harmonics are excellent for developing your expectations. Successful trading is all about high probabilities. The confluence of harmonics, structure, and price action increases the probability for price to move in line with your expectations. Anyway, invest in yourself by taking the time to learn price action, structure, and order flow analysis. Here's to wishing you many green pips!
  • #12,533
  • Jan 29, 2015 9:10am Jan 29, 2015 9:10am
Quoting jpnavigate
{quote} Where did you initially have your stop placed? Looks like there was a huge bullish surge to the 78.6 retracement.
Stops were 3 pips above 88.6, 1.5158

Aj1
  • #12,534
  • Jan 29, 2015 9:22am Jan 29, 2015 9:22am
-26.7 pips. Perhaps this was a trade I should not have entered?
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  • #12,535
  • Jan 29, 2015 9:30am Jan 29, 2015 9:30am
Argh rubbish day today!! Missed one trade, had 2 that got taken out after I moved stops just above entry (+2 & +3) and then a losing trade against OF -14 so a total of -9 pips on the day. Going to call it a day now as have other commitments, will try to post charts later.
  • #12,536
  • Jan 29, 2015 9:42am Jan 29, 2015 9:42am
Quoting PipTrendz
Argh rubbish day today!! Missed one trade, had 2 that got taken out after I moved stops just above entry (+2 & +3) and then a losing trade against OF -14 so a total of -9 pips on the day. Going to call it a day now as have other commitments, will try to post charts later.

Never mind PipT. I have had just the one trade today. Been waiting all day for the EU 5min to come into my sights. But it is not behaving. So still on the sidelines.

Regards
Aj1
  • #12,537
  • Jan 29, 2015 10:39am Jan 29, 2015 10:39am
Quoting Aj1
{quote} Stops were 3 pips above 88.6, 1.5158 Aj1
Good job! I would have placed my stop about 5-10 pips above the entry, which would have resulted in me getting taken out.
  • #12,538
  • Jan 29, 2015 11:15am Jan 29, 2015 11:15am
USD/JPY hourly. Price currently at convergence of a shorter term one to one (marked on chart in black) and longer term trendline. I am just itching to short, but hesitate because of momentum. I think I may just watch this one. It should be instructive however it plays out.

Attached Image (click to enlarge)
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  • #12,539
  • Jan 29, 2015 11:36am Jan 29, 2015 11:36am
Quoting beepbop2015
USD/JPY hourly. Price currently at convergence of a shorter term one to one (marked on chart in black) and longer term trendline. I am just itching to short, but hesitate because of momentum. I think I may just watch this one. It should be instructive however it plays out. {image}
Or you could see if it rises above the trendline which would make it technically overbought and try shorting then - just my own opinion, but I'm still learning.
  • #12,540
  • Jan 29, 2015 11:41am Jan 29, 2015 11:41am
Quoting Vince1954
{quote} Or you could see if it rises above the trendline which would make it technically overbought and try shorting then - just my own opinion, but I'm still learning.
Don't usually reply to my self, but I think I am probably wrong about my overbought statement. That only applies when an uptrend line is breached, not a downtrend.
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