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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

  • #13,161
  • Feb 16, 2015 7:26am Feb 16, 2015 7:26am
GBPJPY +26 pips (1 @ 10.5 and 1 @ 15.5pips)

Simply following the bearish OF............

Attached Image (click to enlarge)
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Masterrmind.........
Master your Mind then Master your Trades
  • #13,162
  • Feb 16, 2015 7:28am Feb 16, 2015 7:28am
Quoting Matts Micro
{quote} Yer USD maybe havin a day off but at least CAD is currently open for business. Not sure I will bother though. UCad is heading up on the move I wanted to be on I think. I'm up a few pips for the day I may leave it there, I don't like this market atm, imo it doesn't feel "natural". Tomorrow should see a return of liquidity and better trading conditions.
Yes that's the way Mondays go sometimes....really strange!

I managed to grab a few pips out of shorting GJ so I'm about done for the day....

Masterrmind........
Master your Mind then Master your Trades
  • #13,163
  • Feb 16, 2015 8:01am Feb 16, 2015 8:01am
GBPJPY +15 pips up the long side

Again just following OF.......... watching PA

Attached Image (click to enlarge)
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Note: the 26 pip trades were completed previously...........

That's me done for the day...........until tomorrow trade well!

Masterrmind............
Master your Mind then Master your Trades
  • #13,164
  • Feb 16, 2015 4:17pm Feb 16, 2015 4:17pm
Quoting Masterrmind
Currently short NZDUSD [H1 chart] {image} Depending on positive OF to the downside additional entries might be considered (likely) Additional entries would have smaller TP targets based on 382 and 618 fibs however the 1 st trade TP will remain just shy of the 161.8 retracement of the ABCD leg as shown. Asian session entry so an appropriate SL has been used but on the top side of resistance with plenty of breathing space. It is quite reasonable to expect price to carry up a little higher and test this level. AU and GU: still waiting for an appropriate...
UPDATE on NZDUSD trade from yesterday

3 positions opened and all are currently in profit.

The idea is to ride the OF and price down however the progress of the pair was very slow yesterday (Monday) to be expected!

The NU pair will be managed throughout the day as required based on levels, OF and PA considerations.

The biggest obstacle at the moment is yesterdays DO which is providing a level of strong support (need PA to break below it and continue on a downward path)

Masterrmind..............
Master your Mind then Master your Trades
  • #13,165
  • Feb 16, 2015 6:36pm Feb 16, 2015 6:36pm
Looking at shorting opportunities down from the red PRZ zone on the Cable should PA carry that high...........

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Could have traded it aggressively UP but resisted the temptation (much prefer to short it from higher up)

Plan will be to short the cable down to within 5-10 pips of the WP level (PA willing)

Currently long EU (+8.5 pips currently)

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Don't worry about the pattern outlined in blue (hybrid) but rather the extension of the 1st pink leg down and then my entry came after a retest of this level (horizontal blue line)...........

Masterrmind...........
Master your Mind then Master your Trades
  • #13,166
  • Feb 16, 2015 6:45pm Feb 16, 2015 6:45pm
Quoting Masterrmind
Looking at shorting opportunities down from the red PRZ zone on the Cable should PA carry that high........... {image} Could have traded it aggressively UP but resisted the temptation (much prefer to short it from higher up) Currently long EU Masterrmind...........
Looks like good confluence with resistance and fib levels

I saw a long on EU too but I am tentative to buy EU with current fundamentals. The hrly Gartley C buy on EU is tempting but like I said the fundamentals aren't supportive
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #13,167
  • Feb 16, 2015 6:51pm Feb 16, 2015 6:51pm
Quoting Matts Micro
{quote} Looks like good confluence with resistance and fib levels I saw a long on EU too but I am tentative to buy EU with current fundamentals. The hrly Gartley C buy on EU is tempting but like I said the fundamentals aren't supportive
My TP for the EU long was set at 30 pips as shown but I'll see what PA is like around the DO (reversals are always on the cards....)

Masterrmind............
Master your Mind then Master your Trades
  • #13,168
  • Feb 16, 2015 6:57pm Feb 16, 2015 6:57pm
I'm back to looking at the cad. The PA always seems very harmonic. Looking at the low PRZ (ignore top box).
Attached Image (click to enlarge)
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As the lights go by so too do the shadows move
  • #13,169
  • Feb 16, 2015 7:09pm Feb 16, 2015 7:09pm
Quoting Masterrmind
{quote} My TP for the EU long was set at 30 pips as shown but I'll see what PA is like around the DO (reversals are always on the cards....) Masterrmind............
EU closed out @ +14 pips

DO acting as resistance, took the 14 off the table as price showed signs of wanting to hesitate and potentially reverse my position!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 41 KB


Masterrmind
Master your Mind then Master your Trades
  • #13,170
  • Feb 16, 2015 7:17pm Feb 16, 2015 7:17pm
Quoting Masterrmind
{quote} EU closed out @ +14 pips DO acting as resistance, took the 14 off the table as price showed signs of wanting to hesitate and potentially reverse my position! {image} Masterrmind
Nice job, only need to do that a few times a day
As the lights go by so too do the shadows move
  • #13,171
  • Feb 16, 2015 7:24pm Feb 16, 2015 7:24pm
Quoting Matts Micro
{quote} Nice job, only need to do that a few times a day
Yes indeed.......... that's 1 trade in the bag

Will be looking to short GU a little later subject to "activity" in the PRZ zone.......... let's see.

Analyzed 6 pairs before trading started today so there are a few trades waiting on the back burner (based on PA, hitting my zones etc)

Let's strive for a profitable trading day

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #13,172
  • Feb 16, 2015 8:54pm Feb 16, 2015 8:54pm
EU trade I exited from for 14 pips profit earlier would have hit TP if left alone for 30 pips.

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PA (observations and hesitations always play a role in the decision making process since reversals at the wrong time can hurt you if you let them)

It's not always easy to set and forget..........

I'm satisfied with my trade management although on most of my trades (not all) the initially set TP's are hit.

Temptation might be to set and forget but I prefer to watch PA and captain the ship through the treacherous waters and take profit as applicable.

Each chart should always be analyzed on its own merits including changes in the OF.

It is a journey of expectations and making the right decision with profit being the major factor but also controlling any losses.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #13,173
  • Feb 16, 2015 9:07pm Feb 16, 2015 9:07pm
waiting for confirmation of EA bulls.
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As the lights go by so too do the shadows move
  • #13,174
  • Feb 16, 2015 9:13pm Feb 16, 2015 9:13pm
Quoting Masterrmind
EU trade I exited from for 14 pips profit earlier would have hit TP if left alone for 30 pips. {image} PA (observations and hesitations always play a role in the decision making process since reversals at the wrong time can hurt you if you let them) It's not always easy to set and forget.......... I'm satisfied with my trade management although on most of my trades (not all) the initially set TP's are hit. Temptation might be to set and forget but I prefer to watch PA and captain the ship through the treacherous waters and take profit as applicable....
As long as R:R levels are acceptable it is a smart way to trade. This time it hit your TP levels but next time it could just as easily reverse to leave with you with nothing. It was a good trade
As the lights go by so too do the shadows move
  • #13,175
  • Feb 16, 2015 9:25pm Feb 16, 2015 9:25pm
Quoting Matts Micro
{quote} As long as R:R levels are acceptable it is a smart way to trade. This time it hit your TP levels but next time it could just as easily reverse to leave with you with nothing. It was a good trade
After many years of looking at charts you kind of get a feel for price action BUT you are right you never can predict the "unusual" reversal and so you always have to protect your position (s) as much as possible.

If you don't ...... you might get bitten and no-one likes to be bitten!

Masterrmind..........
Master your Mind then Master your Trades
  • #13,176
  • Feb 16, 2015 9:29pm Feb 16, 2015 9:29pm
Quoting Matts Micro
waiting for confirmation of EA bulls. {image}
Now you made me analyze the EA............

Happy you did............ look for the bulls to pour in and nail it!

Multiple confluences evident on 2 chart TF's (M30 and H1)

Wait for the green light..........haha.....

Looking good!

Masterrmind.............
Master your Mind then Master your Trades
  • #13,177
  • Feb 16, 2015 9:37pm Feb 16, 2015 9:37pm
Quoting Masterrmind
{quote} Now you made me analyze the EA............ Happy you did............ look for the bulls to pour in and nail it! Multiple confluences evident on 2 chart TF's (M30 and H1) Wait for the green light..........haha..... Looking good! Masterrmind.............
Yer it actually goes quite deep to how many bull signals I have on many tf's. It's one of those trades that if it loses I will be scratching my head, it's happened before though and as we know nothing is certain.
As the lights go by so too do the shadows move
  • #13,178
  • Feb 16, 2015 9:45pm Feb 16, 2015 9:45pm
Quoting Matts Micro
waiting for confirmation of EA bulls. {image}
EA (M30)

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB


Nice pullback right to the WP overlaying the 50 fib.... then BAM.... down for a 1:1 extension.....nice!

Looking for the long entry...........indeed!

Masterrmind...........
Master your Mind then Master your Trades
  • #13,179
  • Feb 16, 2015 10:07pm Feb 16, 2015 10:07pm
Quoting Masterrmind
{quote} EA (M30) {image} Nice pullback right to the WP overlaying the 50 fib.... then BAM.... down for a 1:1 extension.....nice! Looking for the long entry...........indeed! Masterrmind...........
Yah, it looks interesting on the larger TF's too. It's a busy chart but bulls looking good

I will try for st trades but keep this chart for lt OF
Attached Image (click to enlarge)
Click to Enlarge Name: euraud 35.png Size: 64 KB
As the lights go by so too do the shadows move
  • #13,180
  • Feb 16, 2015 10:14pm Feb 16, 2015 10:14pm
H Masterrmind,
may I ask what is the big candle on the right hand side of the chart?
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