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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

  • #13,441
  • Apr 1, 2015 6:07am Apr 1, 2015 6:07am
AUDCAD

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Good example of price not reaching PRZ

Support levels!

Then DO line a potential area of resistance.

Observe it, price could still drop down into my PRZ for an opportunity to go long but note that this chart setup is not what I would call a very good one.

No reason why you can't look for opportunities in the other direction too.

If you don't see any simply pull up another chart and analyse it.

There are always hundreds of setups waiting for you....

I'll post a few more good setups as I see them!

Masterrmind...........
Master your Mind then Master your Trades
  • #13,442
  • Apr 1, 2015 6:17am Apr 1, 2015 6:17am
Quoting Masterrmind
GBPJPY - short opportunity? {image} Masterrmind..........
GJ setup predicted yesterday

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Predicted short opportunity.........

30 -40 pips in it so 25 pips would have been easy.

Masterrmind..........
Master your Mind then Master your Trades
  • #13,443
  • Apr 1, 2015 6:51am Apr 1, 2015 6:51am
GBPUSD [M15 chart]

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Aggressive C sell - potential of 70 pips

Great risk:reward

Trade management on this pair and looking to take +25 pips or more based on PA and OF

Masterrmind........... :nerd:
Master your Mind then Master your Trades
  • #13,444
  • Apr 1, 2015 7:06am Apr 1, 2015 7:06am
USDCAD [M15 chart]

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2 opportunities

1. aggressive C buy and/or

2. reversal down from my potential PRZ zone

I'm watching PA in and around the C level with an expectation of initially going long and only employing a very tight SL.

Then if PA hits my PRZ and the PA and OF looks good I'll short the pair down at least 40-50 pips.

Masterrmind...........
Master your Mind then Master your Trades
  • #13,445
  • Apr 1, 2015 7:21am Apr 1, 2015 7:21am
Quoting Masterrmind
GBPUSD [M15 chart] {image} Aggressive C sell - potential of 70 pips Great risk:reward Trade management on this pair and looking to take +25 pips or more based on PA and OF Masterrmind........... :nerd:
GU - update

Tightened up the stop just before news broke out.

Out at BE

Will look at entering again later

Masterrmind.........
Master your Mind then Master your Trades
  • #13,446
  • Apr 1, 2015 7:27am Apr 1, 2015 7:27am
Quoting Masterrmind
USDCAD [M15 chart] {image} 2 opportunities 1. aggressive C buy and/or 2. reversal down from my potential PRZ zone I'm watching PA in and around the C level with an expectation of initially going long and only employing a very tight SL. Then if PA hits my PRZ and the PA and OF looks good I'll short the pair down at least 40-50 pips. Masterrmind...........
USDCAD - Update

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News impact drove price down

Will need to re-analyse!

My expectation is still to go long provided PA does not show an intent to break down through the Monthly Pivot which it is currently testing.

Masterrmind..........
Master your Mind then Master your Trades
  • #13,447
  • Apr 1, 2015 7:37am Apr 1, 2015 7:37am
Quoting Masterrmind
{quote} USDCAD - Update {image} News impact drove price down Will need to re-analyse! My expectation is still to go long provided PA does not show an intent to break down through the Monthly Pivot which it is currently testing. Masterrmind..........
USDCAD [M15 chart]

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Now aggressively long UCAD

Masterrmind..........
Master your Mind then Master your Trades
  • #13,448
  • Apr 1, 2015 7:42am Apr 1, 2015 7:42am
Quoting Masterrmind
{quote} GU - update Tightened up the stop just before news broke out. Out at BE Will look at entering again later Masterrmind.........
I got stopped out on the same trade at BE.
But the news drove it up beautifully into a decelerating test of 50% and 1.48... too tempting to pass up:
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  • #13,449
  • Apr 1, 2015 7:47am Apr 1, 2015 7:47am
Quoting honestknave
{quote} I got stopped out on the same trade at BE. But the news drove it up beautifully into a decelerating test of 50% and 1.48... too tempting to pass up: {image}
Yes indeed!

I am now aggressively short the cable

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Masterrmind..........
Master your Mind then Master your Trades
  • #13,450
  • Apr 1, 2015 8:45am Apr 1, 2015 8:45am
waiting touch my TP, Greetings
exit +37.9
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  • #13,451
  • Edited 9:47am Apr 1, 2015 8:53am | Edited 9:47am
In another account, more risky, Greetings +65pips
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  • #13,452
  • Apr 1, 2015 2:17pm Apr 1, 2015 2:17pm
It's a shame to see so little participation in the thread. Mainly because it's the only thread that mostly matches my trading style

I wonder how many people out there are following or trading silently? Abandoned it? Too busy making money from it to post? Practicing it? Just plain don't like it?

The thread was mostly teaching-driven initially - do people want to see more detailed explanations of trades again? Mr. Pip doesn't seem to be around much anymore, but I'm sure some of us will be happy to go down that route if people want it...?

Or is the thread just doomed to FF obscurity?
  • #13,453
  • Apr 1, 2015 3:42pm Apr 1, 2015 3:42pm
Quoting honestknave
It's a shame to see so little participation in the thread. Mainly because it's the only thread that mostly matches my trading style I wonder how many people out there are following or trading silently? Abandoned it? Too busy making money from it to post? Practicing it? Just plain don't like it? The thread was mostly teaching-driven initially - do people want to see more detailed explanations of trades again? Mr. Pip doesn't seem to be around much anymore, but I'm sure some of us will be happy to go down that route if people want it...? Or...
i would like to participate more often on this thread but my problem is the little time i get to be at my PC trading. And whenever i try to post i end up deleting and re-writing my thought process over and over again, just because i find it hard to express myself in writing and that gets even more time consuming.
However this is a really nice thread that can offer loads of help for all newbies and experienced alike, and it will be a shame to see it "doomed to FF obscurity"as you said.
So i will personally make more effort to post.
  • #13,454
  • Apr 1, 2015 10:17pm Apr 1, 2015 10:17pm
Quoting honestknave
It's a shame to see so little participation in the thread. Mainly because it's the only thread that mostly matches my trading style I wonder how many people out there are following or trading silently? Abandoned it? Too busy making money from it to post? Practicing it? Just plain don't like it? The thread was mostly teaching-driven initially - do people want to see more detailed explanations of trades again? Mr. Pip doesn't seem to be around much anymore, but I'm sure some of us will be happy to go down that route if people want it...? Or...
Yes its all been said before!

Its always more interesting when others are involved on the same journey but in the end what really matters is that you master the trading style that matches your personality and not only that but one in which you can continue to be consistently profitable!

There is a wealth of great information throughout this thread and if applied correctly with the right risk it works like a charm.

There are always a number of onlookers and of course the numbers vary depending on time of the day, sessions etc.

For example now its a fair way through the Asian session and the following is an indication of the participation level:

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So 3 times the number of onlookers as actual participants for this period only but I have noticed similar figures during other Asian sessions.

London and NY sessions well the numbers would likely increase.

Although a very high participation rate would be great it shouldn't stop the keen ones from mastering the art

Good trading,

Masterrmind.............
Master your Mind then Master your Trades
  • #13,455
  • Apr 2, 2015 1:41am Apr 2, 2015 1:41am
Quoting Masterrmind
{quote} GBPUSD - Update from opened trade yesterday {image} -15 pips on this pair, once the candles showed no bearish intent you need to make a decision. I decided to tighten up the SL and let price take me out of the trade. Move onto the next one you cannot win them all. Note: For aggressive entries to either the long or short side I apply 1/4 to 1/3 of my usual position size. Masterrmind...........
Yes, it was a little underwhelming. I was thinking it was an early exit at the time given the dominant bearish swing... Fundamentals win the day on that one!
Edit: It was actually closer to 20, not 21
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  • #13,456
  • Apr 2, 2015 1:49am Apr 2, 2015 1:49am
Quoting Masterrmind
{quote} Yes its all been said before! Its always more interesting when others are involved on the same journey but in the end what really matters is that you master the trading style that matches your personality and not only that but one in which you can continue to be consistently profitable! There is a wealth of great information throughout this thread and if applied correctly with the right risk it works like a charm. There are always a number of onlookers and of course the numbers vary depending on time of the day, sessions etc. For example...
Good point.
For me, it is boredom relief during the quiet times in the market. There is only so much free coding you can do
Plus I've picked up some great nuggets of info from here too. Every day is a school day!

In fairness, I should probably cut my trading hours back. Beer mat calculations, I probably make 75% of my profits in 25% of my trading hours
  • #13,457
  • Apr 2, 2015 3:03am Apr 2, 2015 3:03am
I wonder where is mr.pip now?
FXerha
  • #13,458
  • Apr 2, 2015 3:09am Apr 2, 2015 3:09am
Quoting FXerha
I wonder where is mr.pip now?
He did say that he might not always be around so I'd be guessing that he's concentrating on his trading and would therefore be very busy.

I suppose you could PM him or visit his site.

Masterrmind.........
Master your Mind then Master your Trades
  • #13,459
  • Apr 2, 2015 5:28am Apr 2, 2015 5:28am
I thought I'd take a little more time to describe things today.

Only the one trade taken so far, on GBPUSD. It's already hit my daily target, so I'm not too stressed that EURUSD is sleeping until the news.

Yesterday morning saw a huge bearish move.

The bullish recovery was very mild in comparison.

The problem with these weak grinds is they can just keep on going.

London is always a good time to see some moves, as money comes on the table and Europe wakes up.

The initial move after London open was bearish. This was a good sign, particularly the acceleration.

A weak pullback to the 50% with deceleration (and helped along with the news) has seen the bears return.

I am watching 1.48 very carefully right now. It hit hard and bounced. Then it hit hard again and broke through, but I have yet to see any conviction to pull away south. That's not such a good sign.

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  • #13,460
  • Apr 2, 2015 7:59am Apr 2, 2015 7:59am
Quoting honestknave
I thought I'd take a little more time to describe things today. Only the one trade taken so far, on GBPUSD. It's already hit my daily target, so I'm not too stressed that EURUSD is sleeping until the news. Yesterday morning saw a huge bearish move. The bullish recovery was very mild in comparison. The problem with these weak grinds is they can just keep on going. London is always a good time to see some moves, as money comes on the table and Europe wakes up. The initial move after London open was bearish. This was a good sign, particularly the acceleration....
Just to close this one out:
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