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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

  • #13,681
  • May 1, 2015 9:46am May 1, 2015 9:46am
Quoting pampaq
{quote} Dear Mastermind: Whenever I see your letters, I learn a lot from them. These are the supports that I I have drawn. As you can see, in the area of 1.5175, there was a pivot, he did support and was broken. Then the price fell until the next area of demand. News of the UK, helped give great mmtum, bassist, to par. Greetings, and we keep in touch {image}
Correct!

Always zoom out and check the levels for the pair you are trading (pivots, S+R and all obstacles)

Chart analysis in time gets better and better and you start to "feel" the PA ......

Good trading my friend,

Masterrmind.............
Master your Mind then Master your Trades
  • #13,682
  • May 1, 2015 7:09pm May 1, 2015 7:09pm
Quoting Masterrmind
{quote} GU {image} Now long currently +13........ Opportunity presented itself just before sleep time...... SL will be adjusted as trade progresses. Good trading, Masterrmind.............
GBPUSD........ close of market status [+18 pips]

Attached Image (click to enlarge)
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The 18 doesn't mean alot in this case since upon market open pips can either increase or decrease rapidly.

I kept TP and SL at their initial levels (not changed) and will allow the trade to play out based on what I see come market open next week.

Several levels (including DO also near 618 Fib) between current price and expected TP (optimistic at this stage - due to trade entry.....ie not a massive bullish intent shown)

Well aware of this and therefore 1/2 usual position size at time of trade entry (risk fully understood)

Lets see how the trade plays out.............. in time.

Masterrmind...........
Master your Mind then Master your Trades
  • #13,683
  • May 3, 2015 4:18am May 3, 2015 4:18am
hello, i am new to harmonic trading, here attached screen shot showing bearish gartely on EURUSD daily chart, but as i understood that harmonics are reversal patterns, so if the bearish gartely is valid then the pre-direction should be bullish and bearish gartely reverse this up direction to bearish direction.
The situation i see here that the EURUSD is already in bearish direction , so its not valid bearish gartely pattern
Am i right in this analysis? or there is something i missed during learning harmonics?

Best Regards
Attached Image (click to enlarge)
Click to Enlarge Name: bearish gart.png Size: 64 KB
  • #13,684
  • May 3, 2015 10:09am May 3, 2015 10:09am
Quoting fadyvictor
hello, i am new to harmonic trading, here attached screen shot showing bearish gartely on EURUSD daily chart, ................{image}
i am still learning too , IMO EUR pair (EA EC) mostly bearish so i will wait until trend continue in small TF by watching CS form , EURO season will be interesting to trade.
GL.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eu.JPG Size: 102 KB
what ever it takes
  • #13,685
  • May 3, 2015 12:09pm May 3, 2015 12:09pm
Quoting vitzaza
{quote} i am still learning too , IMO EUR pair (EA EC) mostly bearish so i will wait until trend continue in small TF by watching CS form , EURO season will be interesting to trade. GL. {image} {image}
First of all thanks for your reply, but let ask the question in another way, is harmonic patterns are reversal or continuous patterns?
If they are reversal patterns then I think that the bearish gartely on EURUSD is invalid pattern , may be just price bounce from a resistance zone
  • #13,686
  • May 3, 2015 9:35pm May 3, 2015 9:35pm
Quoting Masterrmind
{quote} GBPUSD........ close of market status [+18 pips] {image} The 18 doesn't mean alot in this case since upon market open pips can either increase or decrease rapidly. I kept TP and SL at their initial levels (not changed) and will allow the trade to play out based on what I see come market open next week. Several levels (including DO also near 618 Fib) between current price and expected TP (optimistic at this stage - due to trade entry.....ie not a massive bullish intent shown) Well aware of this and therefore 1/2 usual position size at time...
GU [M15] trade still in progress from over the weekend

Current status is +28 pips...........

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


Will continue to monitor the trades progression as volatility has been very slow today (expected of course!)

Therefore SL and TP levels remain as they were right from trade entry..... no changes.

Good trading,

Masterrmind............
Master your Mind then Master your Trades
  • #13,687
  • May 3, 2015 10:07pm May 3, 2015 10:07pm
AUDUSD [M15]

short for a few pips in progress based on short term OF.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 32 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #13,688
  • May 3, 2015 11:41pm May 3, 2015 11:41pm
Quoting Masterrmind
AUDUSD [M15] short for a few pips in progress based on short term OF. {image} Masterrmind...........
AUDUSD - entered short again close to the MPivot.........

strong bearish intent to the downside.....

Masterrmind.............
Master your Mind then Master your Trades
  • #13,689
  • May 4, 2015 3:51am May 4, 2015 3:51am
I know that zup indicator is a powerful indicator to catch harmonic patterns on completion, but is there an indicator that can predict the CD leg before completion?
  • #13,690
  • Edited 8:41am May 4, 2015 7:52am | Edited 8:41am
Quoting fadyvictor
I know that zup indicator is a powerful indicator to catch harmonic patterns on completion, but is there an indicator that can predict the CD leg before completion?
wwhaatt?

Indicators for harmonic patterns are used on the other forum.
http://www.forexfactory.com/showthread.php?t=166155
  • #13,691
  • May 4, 2015 8:38am May 4, 2015 8:38am
Quoting fadyvictor
hello, i am new to harmonic trading, here attached screen shot showing bearish gartely on EURUSD daily chart, but as i understood that harmonics are reversal patterns, so if the bearish gartely is valid then the pre-direction should be bullish and bearish gartely reverse this up direction to bearish direction. The situation i see here that the EURUSD is already in bearish direction , so its not valid bearish gartely pattern Am i right in this analysis? or there is something i missed during learning harmonics? Best Regards {image}
With all due respect. Before you lose money, or post anymore off topic questions, please watch Mr Pips video posts. Then review some of his charts. He is the guy that has taken the time to start this forum.

http://www.forexfactory.com/showthread.php?t=402253&page=571
http://www.forexfactory.com/showthread.php?t=402253&page=585
https://www.youtube.com/watch?v=u8eGrIvlCBQ
https://www.youtube.com/watch?v=aMupwIOLRgk

After you have finished this, then review some Lance Beggs,
http://yourtradingcoach.com/trading-process-and-strategy/better-than-candlestick-patterns-part-one/

Then maybe some Jim Kane, for a different perspective. Good for higher time frame traders.
http://www.kanetrading.com/
Here is a couple of books:
http://www.cabafx.com/trading-ebooks-collection/newpdf/Kane.Jim.01.Advanced.Fibonacci.Trading.Concepts.pdf
http://www.cabafx.com/trading-ebooks-collection/newpdf/Kane.Jim.03.Trading.ABCD.Patterns.pdf


The majority of people who "attempt" to trade in the forex market lose money because they do not spend the time that is necessary in becoming educated, in order to master their craft.

Patterns are fun and they look good, but remember that most reversal attempts fail. First it is best to learn about order flow, projection and depth, price action and confluences. Learn how to set expectations and when to expect price rotation.


I wish you all the best with your trading.
  • #13,692
  • May 4, 2015 8:43am May 4, 2015 8:43am
EURUSD [M15]

Short entry opened

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 36 KB


Masterrmind...........
Master your Mind then Master your Trades
  • #13,693
  • May 4, 2015 8:50am May 4, 2015 8:50am
Quoting Jamos
{quote} With all due respect. Before you lose money, or post anymore off topic questions, please watch Mr Pips video posts. Then review some of his charts. He is the guy that has taken the time to start this forum. http://www.forexfactory.com/showthread.php?t=402253&page=571 http://www.forexfactory.com/showthread.php?t=402253&page=585 https://www.youtube.com/watch?v=u8eGrIvlCBQ https://www.youtube.com/watch?v=aMupwIOLRgk After you have finished this, then review some Lance Beggs, http://yourtradingcoach.com/trading-process-and-strategy/better-than-candlestick-patterns-part-one/...
Excellent post Jamos
  • #13,694
  • May 4, 2015 9:33am May 4, 2015 9:33am
Trade well ...........

Time for rest

Masterrmind............
Master your Mind then Master your Trades
  • #13,695
  • May 4, 2015 10:44am May 4, 2015 10:44am
I've not been trading very much last week, but I did spot this gem of a trade on the GBPUSD today.
It went 10 pips into drawdown, but never invalidated my reasons for entry.
TP hit for +39 pips at the 1:1 completion ABCD.
Would I have changed the entry? Probably not - it's just one of those things. A strong bearish candle took out all the strength of the previous bull with only the wick sticking above the RN resistance, and to paraphrase Lance Beggs (as Jamos has mentioned him), if price fails to do something twice it probably isn't going to do it!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-sbM200.png Size: 77 KB
  • #13,696
  • May 4, 2015 6:14pm May 4, 2015 6:14pm
Quoting honestknave
I've not been trading very much last week, but I did spot this gem of a trade on the GBPUSD today. It went 10 pips into drawdown, but never invalidated my reasons for entry. TP hit for +39 pips at the 1:1 completion ABCD. Would I have changed the entry? Probably not - it's just one of those things. A strong bearish candle took out all the strength of the previous bull with only the wick sticking above the RN resistance, and to paraphrase Lance Beggs (as Jamos has mentioned him), if price fails to do something twice it probably isn't going to do...
Awesome trade.

I like how you have taken the time to make a good clear chart. We can all learn from this.
These are the type of posts that we need to see more of.
  • #13,697
  • May 5, 2015 12:28am May 5, 2015 12:28am
Quoting Masterrmind
EURUSD [M15] Short entry opened {image} Masterrmind...........
EURUSD Trade (TP hit as outlined in advance post #13692..... :nerd:blush:

TP hit @ +45 pips as outlined BEFORE the fact NOT after it......

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 35 KB


Now that price has entered my PRZ zone I'll be looking for opportunities to go long.

If price continues down and makes NSL then I'll analyse the chart for short entries.

Masterrmind...........
Master your Mind then Master your Trades
  • #13,698
  • May 5, 2015 2:25am May 5, 2015 2:25am
Quoting Jamos
{quote} Awesome trade. I like how you have taken the time to make a good clear chart. We can all learn from this. These are the type of posts that we need to see more of.
Thanks Jamos, I'm glad some people find the explanations useful

Here is a current short on EURUSD, also with a previous short taken earlier in the session:
I exited the trade a few pips before my target. The reason for this was that I was worried that the stalling at the minor RN would push the trade into the impending high impact news on GBP. It would have made it, but only just (you can see the reaction after the news).
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-sbM100.png Size: 64 KB
  • #13,699
  • May 5, 2015 3:05am May 5, 2015 3:05am
Well, we often see posts of what went right. Let's see one which was misjudged... my bad

The entry was bang on the money, the expectation was off.

Why was the expectation wrong?

Depth had been steadily increasing (red arrows) and there had been a recent increase in bullish momentum after the news.

A likely turning point is always the 61 fib, and had an exit been taken there it would have netted a nice +20 pips.

Once I saw the strong reaction to the 61 fib, it was already almost back to BE so I decided to ride it out.

A scratch trade with 20 pips left on the table. Looking for reload in the golden zone (ABCD completion with minor RN)

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-sbM100.png Size: 72 KB


Bad map reading!
  • #13,700
  • May 5, 2015 5:00am May 5, 2015 5:00am
Quoting honestknave
Looking for reload in the golden zone (ABCD completion with minor RN)
Missed the first opportunity, let's see what NY does to this one:
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-sbM100.png Size: 65 KB
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