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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

  • #12,621
  • Feb 2, 2015 9:11am Feb 2, 2015 9:11am
Been sat on the sidelines most of the day just watching and looking for trades. I am most certainly trying to get myself more reasons to enter a trade before hitting go. I seem to have been making mistakes and losing trades and realising why when it is too late. Plus I can see after the trade the reasons why it went bad and most of the time it is from things that I should have seen.

To my first trade, long on the EURUSD, price corrected and longer term OF was also bullish. I waited for entry which possibly lost me a few pips but I wanted to make sure. My entry was after an initial move in my direction and then a small correction before price indicated it wanted to go up again.

Set my TP at the previous high. Been noticing lots of prices stuck in a range so was happy to get out then for a 36 pip profit.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPEUR-02.02-t1.png Size: 44 KB
  • #12,622
  • Edited 10:40am Feb 2, 2015 9:14am | Edited 10:40am
Quoting pampaq
Entering long, greetings, and control {image}
Taking a part by mR, when in doubt go on BE greetings
Leaving, + 20 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM5ctrldetomandounaparte.png Size: 61 KB
  • #12,623
  • Feb 2, 2015 9:18am Feb 2, 2015 9:18am
Quoting beepbop2015
Hi Matt, Thanks for looking at my chart and sharing your thoughts. I think you are right that a break above the PRZ would be a good confirmation at this point-- as it is, price is now sinking lower again. And it has been dancing around in the PRZ for some little while. I just don't have a good feeling about this one at this point, so I am going to pass it up and head to sleep, but I'm already curious to see what it will have done by the morning, lol. Happy trading!
Hope you had a good sleep. Your trade is doing alright... though as I said a sec ago, very slow. It is moving in right direction now though so should reach target. There could be some confluence for a C sell if it reaches target too.
As the lights go by so too do the shadows move
  • #12,624
  • Feb 2, 2015 9:26am Feb 2, 2015 9:26am
I think the USD/JPY had some fundamental help. I have been monitoring this trade for too long and was starting to lose patience. After a lot of consolidation throughout the Asian session it decided to drop.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY2M15.png Size: 44 KB
  • #12,625
  • Feb 2, 2015 9:30am Feb 2, 2015 9:30am
Thanks! Yes it is very interesting to see that one looks like it is playing out after all-- although I'm still glad I'm not in it because of the glacial movement.

Awesome to see some trades that have worked out well posted here today! I went long GBP/JPY about three hours ago. I was in profit, but not to the extent I wanted to see if price was really going to move, so I tightened the stop loss way up and got taken out for -7. Not so great, but it could have been worse. If I had exited when price first began to stall instead of hoping it would continue to move I could have come away with about an almost 30 pip profit, but hindsight is 20/20. I must keep working on price action and trade management!
  • #12,626
  • Feb 2, 2015 9:40am Feb 2, 2015 9:40am
Quoting beepbop2015
Thanks! Yes it is very interesting to see that one looks like it is playing out after all-- although I'm still glad I'm not in it because of the glacial movement. Awesome to see some trades that have worked out well posted here today! I went long GBP/JPY about three hours ago. I was in profit, but not to the extent I wanted to see if price was really going to move, so I tightened the stop loss way up and got taken out for -7. Not so great, but it could have been worse. If I had exited when price first began to stall instead of hoping it would continue...
Mr Pip's rules works nicely with the B.E. @ the 38.2 then TP at the 61.8. Not sure if it hit that level on your trade but it's worth checking out and testing anyway.

My geppy PRZ got tapped then left dead in the water
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #12,627
  • Feb 2, 2015 9:47am Feb 2, 2015 9:47am
Watching PA if it enters my PRZ (currently looks like a double top).
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #12,628
  • Feb 2, 2015 10:07am Feb 2, 2015 10:07am
I think I may have been pre-emptive on this one. Also my R:R is a little less than 1:1 :/

Edit: I have decided to decrease the risk to 1.5027. I think will be knocked out but may enter at another zone lower.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 22.png Size: 75 KB
As the lights go by so too do the shadows move
  • #12,629
  • Feb 2, 2015 10:10am Feb 2, 2015 10:10am
Quoting PipTrendz
Been sat on the sidelines most of the day just watching and looking for trades. I am most certainly trying to get myself more reasons to enter a trade before hitting go. I seem to have been making mistakes and losing trades and realising why when it is too late. Plus I can see after the trade the reasons why it went bad and most of the time it is from things that I should have seen. To my first trade, long on the EURUSD, price corrected and longer term OF was also bullish. I waited for entry which possibly lost me a few pips but I wanted to make...

Theres alot of wise words in this post. Don't get discouraged PipTrendz. With Time, you will make less and less mistakes. I think your on the right track. it just takes time.
  • #12,630
  • Feb 2, 2015 10:16am Feb 2, 2015 10:16am
Quoting Matts Micro
I think I may have been pre-emptive on this one. Also my R:R is a little less than 1:1 :/ Edit: I have decided to decrease the risk to 1.5027. I think will be knocked out but may enter at another zone lower. {image}
Got knocked out -15. Didn't re-enter due to acceleration of PA through my next PRZ.
As the lights go by so too do the shadows move
  • #12,631
  • Feb 2, 2015 10:24am Feb 2, 2015 10:24am
Quoting Mack2013
{quote} Theres alot of wise words in this post. Don't get discouraged PipTrendz. With Time, you will make less and less mistakes. I think your on the right track. it just takes time.
Cheers Mack!

Well here was my second trade of the day. I moved the SL quite aggressively as my boy was due to be dropped off so wanted to get into a risk free trade asap. Got taken out when price came back up then went down to easily hit my TP. If I hit my TP it could have been 27 pips or even more but I don't know as wasn't around to trade. So ended with 8 pips + 36 from earlier, 44 pips is a very good day

My entry was at the completion of a 1:1 move and the top nearing some support. Got clear indication as a strong reaction down then entered. Not a big win but knowing my decision and read was right is the most rewarding thing here.

Attached Image (click to enlarge)
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  • #12,632
  • Feb 2, 2015 10:43am Feb 2, 2015 10:43am
Quoting pampaq
{quote} Taking a part by mR, when in doubt go on BE greetings Leaving, + 20 Pips {image}
Leaving, + 20 Pips
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM5salidaparaforo.png Size: 66 KB
  • #12,633
  • Feb 2, 2015 10:57am Feb 2, 2015 10:57am
Looking to see if PA can reach this PRZ. It looks like it may of already shifted to the topside but it is too much risk for me to trade from there. If it reaches the PRZ it should quite a powerful push up consisting of 2x 61.8 and a 78.6 fib and is at structure.

The chart is a bit busy soz.
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As the lights go by so too do the shadows move
  • #12,634
  • Edited 11:50am Feb 2, 2015 11:33am | Edited 11:50am
Shorted EU.
Edit: re-uploaded pic, didn't work 1st time.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #12,635
  • Feb 2, 2015 11:49am Feb 2, 2015 11:49am
Quoting Matts Micro
Shorted EU. {image}
@BE
As the lights go by so too do the shadows move
  • #12,636
  • Feb 2, 2015 11:53am Feb 2, 2015 11:53am
Quoting Matts Micro
{quote} @BE
.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #12,637
  • Feb 2, 2015 12:23pm Feb 2, 2015 12:23pm
+37 Pips bullish mmtum
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  • #12,638
  • Feb 2, 2015 12:27pm Feb 2, 2015 12:27pm
Quoting Matts Micro
{quote} @BE
Out at B.E. as I thought would happen with a minor Gartley heading for completion. I wont be up to trade it though.

Was a good day, now all I need is to do is replicate a couple of hundred times hehe.
As the lights go by so too do the shadows move
  • #12,639
  • Feb 2, 2015 1:55pm Feb 2, 2015 1:55pm
Seems like everyone has been trading well today

Quoting Matts Micro
{quote} Out at B.E. as I thought would happen with a minor Gartley heading for completion. I wont be up to trade it though.
I'm currently long on this, but the bulls need to pull something out the bag sharp or I'll be closing manually.
Price is really struggling to push through the 1.13500 coupled with 61.8AB=CD
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM100.png Size: 23 KB
  • #12,640
  • Feb 2, 2015 9:22pm Feb 2, 2015 9:22pm
Quoting honestknave
Seems like everyone has been trading well today {quote} I'm currently long on this, but the bulls need to pull something out the bag sharp or I'll be closing manually. Price is really struggling to push through the 1.13500 coupled with 61.8AB=CD {image}
You took profit on this? If not it must of been close. Good trade
As the lights go by so too do the shadows move
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