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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

  • #13,081
  • Feb 13, 2015 5:37am Feb 13, 2015 5:37am
Quoting Masterrmind
{quote} The intention was to get a few pips out of the trade but in the end I was happy to get out of it really. Better trades around the corner.......... Good luck with your trade...........can't lose as you say so that's perfect! Masterrmind.............
Cheers mate. Can't lose? That lesson has come and gone a long time ago haha.

I am about to B.E. as there is a bit of structure to get through to get to my profit region.

Here is my road map for anyone interested (a bit busy, pls ask if any questions)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 26.png Size: 71 KB
As the lights go by so too do the shadows move
  • #13,082
  • Feb 13, 2015 5:40am Feb 13, 2015 5:40am
Quoting Matts Micro
{quote} Good post honestknave I have being trading EU today too with a good results (+46 on the pair today) I agree the OF has being turning from the bulls to the bears. The first hint for me was with the lack of a new high on the news release of Germany's better than expected numbers on GDP. The Hrly rising TL was then broken for the bears to come in (which happened by some pretty big orders I think). I am also watching that 50% Fib level and have a st PRZ just under it, it is being hit as I type. The wick touched my PRZ (again lol)...
Thanks Matts Micro,

Nice trading on EU! I've only taken a couple of scalps today until this trade.

There is a lot of confluence marked up in the lower blue box, so predictably we're currently running a retracement. I'm not convinced the retracement will have the power to push back through that round number. Possibly just the AB=CD completes at the RN, major 23 fib and the minor 50 fib (not marked but confluent) then the bears continue south.

Well, that's the theory...
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  • #13,083
  • Feb 13, 2015 5:42am Feb 13, 2015 5:42am
Quoting honestknave
{quote} Thanks Matts Micro, Nice trading on EU! I've only taken a couple of scalps today until this trade. There is a lot of confluence marked up in the lower blue box, so predictably we're currently running a retracement. I'm not convinced the retracement will have the power to push back through that round number. Possibly just the AB=CD completes at the RN, major 23 fib and the minor 50 fib (not marked but confluent) then the bears continue south. Well, that's the theory... {image}
Nice analysis.
I think we are on the same path which is a good sign.
As the lights go by so too do the shadows move
  • #13,084
  • Feb 13, 2015 5:46am Feb 13, 2015 5:46am
Quoting Matts Micro
{quote} Cheers mate. Can't lose? That lesson has come and gone a long time ago haha. I am about to B.E. as there is a bit of structure to get through to get to my profit region. Here is my road map for anyone interested (a bit busy, pls ask if any questions) {image}
Looks like a great place to short the EU

618 of the leg down
DO line and
close to previous support (turning to resistance)

Masterrmind...........
Master your Mind then Master your Trades
  • #13,085
  • Feb 13, 2015 5:46am Feb 13, 2015 5:46am
Quoting honestknave
{quote} Thank you Jamos, that's very kind Nevertheless, I will try to keep my posts as educational as possible from now on. This is a short trade I'm currently in on EU. Long term orderflow had been bullish, however their strength started to break down. There are many clues to that, but an obvious one was the lack of projection on the last HH (marked yellow). The bulls then made progressively worse comebacks (marked in white) before price keeled over and fell down the stairs like a slinky. Price stalled out in the golden zone, which would be...
That is a hugely beneficial and educational post. Thankyou for the time you have taken with both your explanation and your chart.
  • #13,086
  • Feb 13, 2015 6:04am Feb 13, 2015 6:04am
Quoting Masterrmind
{quote} Looks like a great place to short the EU 618 of the leg down DO line and close to previous support (turning to resistance) Masterrmind...........
Cheers for DO, didn't see that
Got taken +6, didn't want to go home with nothing. The structure above is compact so difficult to break, it may still get up there but not worried about the long, more worried about entering short, don't like being in no-mans-land.
As the lights go by so too do the shadows move
  • #13,087
  • Feb 13, 2015 6:08am Feb 13, 2015 6:08am
Quoting Matts Micro
{quote} Cheers mate. Can't lose? That lesson has come and gone a long time ago haha. I am about to B.E. as there is a bit of structure to get through to get to my profit region. Here is my road map for anyone interested (a bit busy, pls ask if any questions) {image}
huh? there is a line going one way and a line going the other way, then a couple of fib. levels, I am lost amongst the subjectivity of the analysis. At what point would an angled trend line be considered ambiguous?. What aspects of the analysis are the more important ones that I should consider?.
  • #13,088
  • Feb 13, 2015 6:11am Feb 13, 2015 6:11am
Quoting Matts Micro
{quote} Cheers for DO, didn't see that Got taken +6, didn't want to go home with nothing. The structure above is compact so difficult to break, it may still get up there but not worried about the long, more worried about entering short, don't like being in no-mans-land.
Shorting it is the way to go!

Red News USD UoM Preliminary sentiment due out in <50 minutes

Lets follow the PA and strike when the irons hot!

That's the plan anyway

Masterrmind............
Master your Mind then Master your Trades
  • #13,089
  • Feb 13, 2015 6:15am Feb 13, 2015 6:15am
Quoting Matts Micro
{quote} Cheers for DO, didn't see that Got taken +6, didn't want to go home with nothing. The structure above is compact so difficult to break, it may still get up there but not worried about the long, more worried about entering short, don't like being in no-mans-land.
Too many traders neglect the obstacles on the chart

They are a "must" to know no matter what style of trading.

Pivots, S+R, DO, BRN's - price will most likely react in some way to these levels more often than not

EU - watch out for the direction it takes?

Masterrmind............. :nerd:
Master your Mind then Master your Trades
  • #13,090
  • Feb 13, 2015 6:24am Feb 13, 2015 6:24am
Quoting Masterrmind
{quote} Shorting it is the way to go! Red News USD UoM Preliminary sentiment due out in <50 minutes Lets follow the PA and strike when the irons hot! That's the plan anyway Masterrmind............
1.14 didn't let us in, looks like it could be on its way. I will look for a pullback for entry. Don't like being so close to news, I like some head room.

Edit: Looks like was just a stop hunt....
As the lights go by so too do the shadows move
  • #13,091
  • Feb 13, 2015 6:36am Feb 13, 2015 6:36am
Quoting Matts Micro
{quote} 1.14 didn't let us in, looks like it could be on its way. I will look for a pullback for entry. Don't like being so close to news, I like some head room. Edit: Looks like was just a stop hunt....
A little bit of a false start prior to the news release

Masterrmind............
Master your Mind then Master your Trades
  • #13,092
  • Feb 13, 2015 6:36am Feb 13, 2015 6:36am
I'm in aggressively. It may of been too early but tired of seeing it disappear from the zone fast heh

Now just need some downside for headroom before news. MyFxBook says news released at 22:55 (23:00 on FF)?

GU not helping matters.... it's heading topside.
As the lights go by so too do the shadows move
  • #13,093
  • Feb 13, 2015 6:48am Feb 13, 2015 6:48am
News spikes will probably clear all stops
As the lights go by so too do the shadows move
  • #13,094
  • Feb 13, 2015 6:49am Feb 13, 2015 6:49am
Quoting Matts Micro
I'm in aggressively. It may of been too early but tired of seeing it disappear from the zone fast heh Now just need some downside for headroom before news. MyFxBook says news released at 22:55 (23:00 on FF)? GU not helping matters.... it's heading topside.
I'm looking at UJ too

Busy time ...........

Masterrmind...............
Master your Mind then Master your Trades
  • #13,095
  • Feb 13, 2015 6:53am Feb 13, 2015 6:53am
Quoting Masterrmind
{quote} I'm looking at UJ too Busy time ........... Masterrmind...............
Nice chart, yes it looks good
As the lights go by so too do the shadows move
  • #13,096
  • Feb 13, 2015 7:08am Feb 13, 2015 7:08am
This is my second entry of the day - helped by news. Any comments, questions or advice welcome.
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  • #13,097
  • Feb 13, 2015 7:08am Feb 13, 2015 7:08am
Quoting Matts Micro
I'm in aggressively. It may of been too early but tired of seeing it disappear from the zone fast heh Now just need some downside for headroom before news. MyFxBook says news released at 22:55 (23:00 on FF)? GU not helping matters.... it's heading topside.
out -15. Still up 50-60 pips for this pair so not worried. That will prob do me for the night. Time to have a beer

Have a good weekend all and don't forget to release your mind from the markets and enjoy
As the lights go by so too do the shadows move
  • #13,098
  • Edited 7:32am Feb 13, 2015 7:12am | Edited 7:32am
Quoting Matts Micro
{quote} out -15. Still up 50-60 pips for this pair so not worried. That will prob do me for the night. Time to have a beer Have a good weekend all and don't forget to release your mind from the markets and enjoy
Same to you Matts...great way to finish off the trading week...post charts soon.

EU +42 pips (4 trades)

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UJ +8 pips

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[+50 pips]

Have a great weekend everyone.....see you all next week!

Masterrmind.............
Master your Mind then Master your Trades
  • #13,099
  • Feb 13, 2015 7:41am Feb 13, 2015 7:41am
Quoting Masterrmind
{quote} Same to you Matts...great way to finish off the trading week...post charts soon. EU +42 pips (4 trades) {image} UJ +8 pips {image} [+50 pips] Have a great weekend everyone.....see you all next week! Masterrmind.............

What were your reasons for entering and exiting these trades?
  • #13,100
  • Feb 13, 2015 8:56am Feb 13, 2015 8:56am
Quoting Masterrmind
{quote} Same to you Matts...great way to finish off the trading week...post charts soon. EU +42 pips (4 trades) {image} UJ +8 pips {image} [+50 pips] Have a great weekend everyone.....see you all next week! Masterrmind.............
Was just doing my documentation. It works out to be a little less than I thought than my calculations on the go but still a good day. It worked out to be 43 pips. The news trade hurt me and I took a little bit more than I thought. I knew it was the wrong thing to do because trading like that prior to news to me is gambling on a good number, but not to worry. Also another internal struggle was the trailing SL on the second last trade, I knew there was strong resistance above and considered the possibility of a strong pullback. Still we are all experts in hindsight heh.

Have a good weekend.
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
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