Ratios & Harmonics: a Different Way to Trade | Page 665 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #13,281
  • Feb 24, 2015 5:32am Feb 24, 2015 5:32am
Quoting Masterrmind
{quote} I'm very pleased to see that you took my comments the right way! The easy part is determining the PRZ. The hard part is correctly executing the entry in or near the PRZ. Typically this is the discretionary part which can and almost will be different from 1 trader to the next. It would be nice to have traders enter with the right timing and within a few pips of each other........ Price has continued to come down on the UCAD so a few pips could be there for the taking....however I'm after a different setup for this pair so I'm not...
locked profit for +15 and now on a free ride to where it might take me
  • #13,282
  • Edited 6:03am Feb 24, 2015 5:52am | Edited 6:03am
another trade i took earlier trying to get two patterns in opposite directions ( two animals in one stone), i just want Mr Draghi to come out and say the right words for my trade ... forgive me if it's away from the PA topic but i thought i'll share it with you.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 68 KB
  • #13,283
  • Feb 24, 2015 5:55am Feb 24, 2015 5:55am
I just took 15 pips from the long on the EU.

Entered at the AB=CD completion, RN and structure, then after a strong bull candle. I placed my SL below structure as knew a retest was entirely possible.

Price hung around my entry for a while and then took off towards my TP (placed at the 61.8 of the main swing), but missed it by 0.2 pips and I thought I was going to lose out. This is where I needed to stay strong and moved my SL to BE and did not jump out of the trade. It came to my TP and surpassed it then has now reversed.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-24.02-t3.png Size: 39 KB


I was then considering a short now but holding off as I think this may be a correction before another move up so I will wait on the sidelines for now.
  • #13,284
  • Feb 24, 2015 6:30am Feb 24, 2015 6:30am
Long USDJPY based on Bullish OF and price accepting and not been able to close below the top half of the long bull candle
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.png Size: 45 KB
  • #13,285
  • Feb 24, 2015 6:41am Feb 24, 2015 6:41am
AUDUSD short entry with OF, and based on Fib and structure confluence
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 58 KB
  • #13,286
  • Feb 24, 2015 6:50am Feb 24, 2015 6:50am
Quoting Georji
AUDUSD short entry with OF, and based on Fib and structure confluence {image}
Stopped out on both UJ and AU trades, now i'm waiting to re-enter the AU on a Bat pattern if it gets there
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 62 KB
  • #13,287
  • Edited 7:43am Feb 24, 2015 7:11am | Edited 7:43am
after revaluating my AU losing trade which was stopped out by 1 pip only to reach target and be profitable soon after, i should have been patient and entered on the close of a bear candle instead of being aggressive and enter on the touch of the 61.8% fib, and that was followed by almost a spot on AB=CD completion.
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 56 KB
  • #13,288
  • Feb 24, 2015 7:34am Feb 24, 2015 7:34am
Hey Georji,

Thought I would give my thoughts on the graphs you posted. I do not have those pairs loaded so just going off what I see in the images you have posted.

Quoting Georji
Long USDJPY based on Bullish OF and price accepting and not been able to close below the top half of the long bull candle {image}
On this one I am looking at the PA and bar by bar. It looks like the OF has stalled out and stopped moving up so could be a change in momentum. Also if you look at the smaller swings, you have the 2 bottoms at the same level as price is struggling to go lower but on the high side you have just had a lower high. To me this is telling me that price may be looking to turn and start heading down. I would then be waiting for a nice close on a bear candle to potentially get in.

Quoting Georji
AUDUSD short entry with OF, and based on Fib and structure confluence {image}
With this trade it looks like the fibs and everything are drawn out fine and you could have the expectation that price may react and drop in this area but I am always waiting for a bar by bar confirmation to enter. By the looks of it you have entered on a bull candle so price could likely continue to rise and at least test the highs of the spike from a few candles before.

Hope this helps.
  • #13,289
  • Feb 24, 2015 7:50am Feb 24, 2015 7:50am
Quoting PipTrendz
Hey Georji, Thought I would give my thoughts on the graphs you posted. I do not have those pairs loaded so just going off what I see in the images you have posted. {quote} On this one I am looking at the PA and bar by bar. It looks like the OF has stalled out and stopped moving up so could be a change in momentum. Also if you look at the smaller swings, you have the 2 bottoms at the same level as price is struggling to go lower but on the high side you have just had a lower high. To me this is telling me that price may be looking to turn and start...
i totally agree with you, and it's so frustrating to see that both trades came back my way,, ( wrong candle entry on AU and not giving it more breating room for the SL) well at least i'm still doing really well on the USDCAD short
  • #13,290
  • Feb 24, 2015 7:52am Feb 24, 2015 7:52am
Quoting Georji
I was stopped out by 1 pip on the AU trade earlier and it looks like it is heading back my original direction big time now
I think there is a lot of truth to the adage, "the exit is more important than the entry". And this applies as much for SL as for TP.

This is a personal preference, but I like to manage my exits dynamically. I'll typically have a line in the sand (previously discussed as the point where my expectation is proven wrong), but as price approaches it I watch the bar unfold. Price hitting the line with force is generally a bad sign which makes it a good time to exit. However, if price approaches the line weakly or hesitantly and is not showing any particular inclination to smash through it I sometimes give the trade a little more breathing room.

Obviously, this does have the potential to bite and requires a substantial amount of discretion.

Some people will use the bar close for their decision making. In a way, using the close is another technique for building in breathing room for any transient price excursions.
  • #13,291
  • Feb 24, 2015 7:56am Feb 24, 2015 7:56am
Quoting Georji
after revaluating my AU losing trade which was stopped out by 1 pip only to reach target and be profitable soon after, i should have been patient and entered on the close of a bear candle instead of being aggressive and enter on the touch of the 61.8% fib, and that was followed by almost a spot on AB=CD completion. {image}
Yeah that was my take on it.

Do you know what that is? Emotion in your trading, I know because I do it all the time!! It is like you have the expectation and wait for the price to get to a zone. I think part of me thinks I have been waiting for this and you do not want to miss it when it goes. So when it hits and then price starts heading down straight away a bit of panic kicks in and a quick buy/sell is placed and boom it is a loser!!

Also another thing to think about, something that is giving me a few more losers than I should, is placing your SL in the right place. I lost a trade yesterday as my SL was within and NOT below structure. If I had placed it below structure (which was a previous low in a PRZ and I should have expected a possible retest) then a loss of 15 would have been a gain of about 20!!

With what Mr Pip says you should have your SL above the structure, so for your trade could have been at the .7780. I know I don't like giving too much back so I would be more likely to put it where I think it should not retrace past, some cases around the 78.6 or a little higher.
  • #13,292
  • Feb 24, 2015 8:01am Feb 24, 2015 8:01am
Quoting honestknave
{quote} I think there is a lot of truth to the adage, "the exit is more important than the entry". And this applies as much for SL as for TP. This is a personal preference, but I like to manage my exits dynamically. I'll typically have a line in the sand (previously discussed as the point where my expectation is proven wrong), but as price approaches it I watch the bar unfold. Price hitting the line with force is generally a bad sign which makes it a good time to exit. However, if price approaches the line weakly or hesitantly and is not showing...
  • #13,293
  • Feb 24, 2015 8:06am Feb 24, 2015 8:06am
Well that was annoying, I was long on the EU and price was looking to head up and I had it managed tight (5 pip SL) and then price jumped and I thought it hit my TP but my station didn't close the trade?? Then price went down and I had moved to BE so got taken out!!

12 pips lost there!!

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-24.02-t4.png Size: 31 KB
  • #13,294
  • Edited 8:18am Feb 24, 2015 8:07am | Edited 8:18am
Quoting PipTrendz
{quote} Yeah that was my take on it. Do you know what that is? Emotion in your trading, I know because I do it all the time!! It is like you have the expectation and wait for the price to get to a zone. I think part of me thinks I have been waiting for this and you do not want to miss it when it goes. So when it hits and then price starts heading down straight away a bit of panic kicks in and a quick buy/sell is placed and boom it is a loser!! Also another thing to think about, something that is giving me a few more losers than I should, is placing...
i am usually good with placing my SL, but in that case i was trying to be too clever, but my opponent ( the market) is way ahead .
so now i will be on the side line until both Draghi and Yellen do their bits and get out of the market's way,, so i'm of to walk the dogs
  • #13,295
  • Feb 24, 2015 9:33am Feb 24, 2015 9:33am
Following the structure, and bearish mmtum, we were able to +69 pips until YL and S1.
regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSDM52402ENTRY.png Size: 53 KB
Click to Enlarge Name: XAUUSDM52402TP.png Size: 56 KB
  • #13,296
  • Feb 24, 2015 9:38am Feb 24, 2015 9:38am
Quoting pampaq
Following the structure, and bearish mmtum, we were able to +69 pips until YL and S1. regards {image} {image}
Nice quick trade benefiting from the news. I got caught on the wrong side of the news (for a change!!), got into a trade and thought the news was not for a while, stayed in to see what would happen and of course it went against me.

Market is still jumping about so going to call it a day. Finished -15 pips after the news caught me out. I WILL have a green day tomorrow!!
  • #13,297
  • Feb 25, 2015 3:29am Feb 25, 2015 3:29am
My first trade of the day hit my normal daily target in one

My entry was with OF and I waited a little later for entry, partly down to the time I got to my laptop and partly to make sure price was not going to stall out again at the previous highs.

My expectation was a 1:1 completion of the smaller and larger AB=CD pattern (on separate image), so I put my TP a little lower to make sure I caught it. Price spiked at the London open and missed my TP by 0.6 pips and dropped 10 pips which had me a little worried but I still had the same expectation and thought price should retest those highs and maybe exceed them or could respect the PRZ.

20 pips in the green

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-25.02-t1.png Size: 29 KB
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-25.02-t1-larger.png Size: 37 KB
  • #13,298
  • Feb 25, 2015 10:34am Feb 25, 2015 10:34am
Is this correct? I am currently on page 37, would like to know I got my understanding right? lol
Thanks a lot buddies!

PAIR: EUR/JPY
TIMEFRAME: 30 Minutes
PLATFORM: MT4
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-m30-pepperstone-financial-pty.png Size: 91 KB
Trade Different
Multi 3000 All Time Pips: 23,606
  • #13,299
  • Feb 25, 2015 12:20pm Feb 25, 2015 12:20pm
Quoting TidalSurf
Is this correct? I am currently on page 37, would like to know I got my understanding right? lol Thanks a lot buddies! PAIR: EUR/JPY TIMEFRAME: 30 Minutes PLATFORM: MT4 {image}
I honestly do not look for those patterns anymore, although never did really. I mainly look for ABCD and sometimes a Gartley. Then looking at what Order Flow and structure are telling you about price.

You have a lot to read but I suggest looking at the videos Mr Pip has posted as they really help with understanding of the different things you should look for to help make decisions.

Be sure to say what you see when posting your charts and learning. So what pattern are you seeing and looking to complete. Also, if looking for patterns (some people still use them quite a bit so nothing wrong with that), maybe try to identify the patterns when price is getting close to completion. The chart you posted with the pattern shown has price a long way from your PRZ so that seems invalid already to me.

Good luck with your reading
  • #13,300
  • Feb 25, 2015 9:09pm Feb 25, 2015 9:09pm
rebound from supply area, with re RF testing failed. Bullish weak and short input. In the LH, then the LL.
+ 46 pips. regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDH12502entry.png Size: 67 KB
Click to Enlarge Name: AUDUSDM15tp2602.png Size: 66 KB
6 traders viewing now