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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

  • #14,081
  • Jun 18, 2015 7:34am Jun 18, 2015 7:34am
Quoting DizzleFX
{quote} How you feeling about the trade? I was concerned that there was some break down in this current swing. From an order flow perspective, it is still somewhat of a healthy trend. Just gonna stick with my guns on this one. {image}

I could get stopped out but I am holding tight also. Heading to work. if it breaks 7137 there will but ALOT of push back from the bulls. look left for structure points
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Empower Your Mind
  • #14,082
  • Jun 18, 2015 7:34pm Jun 18, 2015 7:34pm
Something I am keeping an eye on. Price has made a NSH and I am waiting on confirmation to enter. Now long term order flow is to the downside and short term to the upside, so if I do enter I will manage the trade aggressively.
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Damn The Torpedoes, Full Speed Ahead!
  • #14,083
  • Jun 18, 2015 9:14pm Jun 18, 2015 9:14pm
Quoting DizzleFX
Something I am keeping an eye on. Price has made a NSH and I am waiting on confirmation to enter. Now long term order flow is to the downside and short term to the upside, so if I do enter I will manage the trade aggressively. {image}
DizzleFX: greetings, after one to one, he made a retro 50%, and we expect a new upward momentum until the PRZ strong, while supply zone 4 hours.
We see greetings
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  • #14,084
  • Jun 19, 2015 1:52am Jun 19, 2015 1:52am
Quoting pampaq
{quote} DizzleFX: greetings, after one to one, he made a retro 50%, and we expect a new upward momentum until the PRZ strong, while supply zone 4 hours. We see greetings {image} {image}
Whats up pampaq? just went long! Price made its way into my identified area of S/R and showed some good rejection on a 15 minute chart. This retraced right into the 61.8% fib, so looking at an ABCD.
Attached Image (click to enlarge)
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Damn The Torpedoes, Full Speed Ahead!
  • #14,085
  • Jun 19, 2015 2:16am Jun 19, 2015 2:16am
Good to see some of the old faces back again!

Currently long on GBPUSD... not looking for too much as the market appears indecisive.

Entry based on: Frankfurt confusion followed by London Open starting off bearish then stopping at a brick wall made up of:

  1. Prior structure
  2. Mid round number
  3. 61.8 retracement of main swing
  4. 2x smaller 61AB=CD

(apologies: messy/working chart)

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EDIT

Out for +13 pips.
I didn't let it run to the Daily Pivot Point because I was apprehensive about market direction. Hindsight would have yielded another +4 pips.
I also entered more prematurely than I would normally. Live and learn

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  • #14,086
  • Jun 19, 2015 2:24am Jun 19, 2015 2:24am
Quoting honestknave
Good to see some of the old faces back again! Currently long on GBPUSD... not looking for too much as the market appears indecisive. Entry based on: Frankfurt confusion followed by London Open starting off bearish then stopping at a brick wall made up of: Prior structure Mid round number 61.8 retracement of main swing 2x smaller 61AB=CD (apologies: messy/working chart) {image}
whats up honestknave? I was looking at GU as well, but I think that I am going to wait and see if USDCAD gives a more convincing sell signal. I usually only get into one trade at a time, but the setup looks pretty good.

EDIT: Took the short on USDCAD
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Damn The Torpedoes, Full Speed Ahead!
  • #14,087
  • Jun 19, 2015 2:40am Jun 19, 2015 2:40am
Quoting DizzleFX
{quote} whats up honestknave? I was looking at GU as well, but I think that I am going to wait and see if USDCAD gives a more convincing sell signal. I usually only get into one trade at a time, but the setup looks pretty good. EDIT: Took the short on USDCAD {image}
Hi DizzleFX,

I exited the long on GU for +13 pips, now in short (and short EURUSD too... )
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I've not tried trading the USDCAD; is it fairly respectful of harmonics? I don't know how it normally behaves: was this congestion-continuation atypical?
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  • #14,088
  • Jun 19, 2015 2:51am Jun 19, 2015 2:51am
I wouldn't say that it is atypical. It was just an area of previous S/R. The retracement back up, I would say is not typical. For it to retrace back up to the 50% fib with that much downward momentum is atypical. IMO.
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Damn The Torpedoes, Full Speed Ahead!
  • #14,089
  • Jun 19, 2015 4:42am Jun 19, 2015 4:42am
Quoting DizzleFX
I wouldn't say that it is atypical. It was just an area of previous S/R. The retracement back up, I would say is not typical. For it to retrace back up to the 50% fib with that much downward momentum is atypical. IMO. {image}
Great stuff! Good luck with the trade - I wish I had the patience to trade the higher timeframes

Short still running on GBPUSD. It went briefly into 2 pips of drawdown (news driven, medium impact) and has now continued on its merry way. If I had been looking at the chart just before the news, I would have closed out at the 1:1 completion. Nevertheless, given the acceleration into that 1:1 I was happy to ride out the medium impact news.
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Now also running another short EURUSD (you'll see an earlier short on the chart).
Lots of confluence there:

  1. Longer term orderflow
  2. 61.8 fib retracement
  3. AB=CD
  4. Daily Support 1
  5. MA


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  • #14,090
  • Jun 19, 2015 5:25am Jun 19, 2015 5:25am
Quoting honestknave
{quote} Great stuff! Good luck with the trade - I wish I had the patience to trade the higher timeframes Short still running on GBPUSD. It went briefly into 2 pips of drawdown (news driven, medium impact) and has now continued on its merry way. If I had been looking at the chart just before the news, I would have closed out at the 1:1 completion. Nevertheless, given the acceleration into that 1:1 I was happy to ride out the medium impact news. {image} Now also running another short EURUSD (you'll see an earlier short on the chart). Lots of confluence...
I need the luck with my trades. Both not looking goood at this point. Guess I will hang onto my day job for now. LOL
Damn The Torpedoes, Full Speed Ahead!
  • #14,091
  • Jun 19, 2015 5:53am Jun 19, 2015 5:53am
Going long with 78% more area demand, and divergence, still unconfirmed.
We'll see. regards
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  • #14,092
  • Jun 19, 2015 6:47am Jun 19, 2015 6:47am
Quoting DizzleFX
{quote} Whats up pampaq? just went long! Price made its way into my identified area of S/R and showed some good rejection on a 15 minute chart. This retraced right into the 61.8% fib, so looking at an ABCD. {image}
Sorry for late reply. I am waiting on 5min TL break and pullback before I go. We got stopped out on last one let see how we fair on this one
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Empower Your Mind
  • #14,093
  • Jun 19, 2015 7:24am Jun 19, 2015 7:24am
Quoting honestknave
Now also running another short EURUSD (you'll see an earlier short on the chart). Lots of confluence there: Longer term orderflow 61.8 fib retracement AB=CD Daily Support 1 MA
Trade was closed out at +17pips after running to expectation.

Nothing fancy about the exit, simple confluence:

  1. Major Round Number
  2. 23.6 of higher TF swing
  3. AB=CD

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  • #14,094
  • Jun 19, 2015 7:27am Jun 19, 2015 7:27am
Quoting DizzleFX
{quote} I need the luck with my trades. Both not looking goood at this point. Guess I will hang onto my day job for now. LOL
It is starting to look like a mirror image of what the bears did
  • #14,095
  • Jun 19, 2015 7:35am Jun 19, 2015 7:35am
Quoting honestknave
{quote} It is starting to look like a mirror image of what the bears did
Yeah, I would say so! Both of my trades hit my SL.
Damn The Torpedoes, Full Speed Ahead!
  • #14,096
  • Jun 19, 2015 4:10pm Jun 19, 2015 4:10pm
Quoting DizzleFX
{quote} Yeah, I would say so! Both of my trades hit my SL.
It's been one of those days. I missed my daily target, but scraped through on my weekly target. Didn't have my eye on the ball and missed so many opportunities today.

As long as the account is still alive and something has been learned, it's been a good day trading
  • #14,097
  • Jun 21, 2015 2:59pm Jun 21, 2015 2:59pm
Okay finally AU is ready to be bought. Well not quite but long bias is setting up if support holds.

Stop loss: 0.7740( if not broken)
Profit: 0.7875
Entry: to be determined(based on pullback)

IF SUPPORT HOLDS

16pip risk : 100+ pips target
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Empower Your Mind
  • #14,098
  • Jun 21, 2015 3:09pm Jun 21, 2015 3:09pm
Quoting vqtrader
Okay finally AU is ready to be bought. Well not quite but long bias is setting up if support holds. Stop loss: 0.7740( if not broken) Profit: 0.7875 Entry: to be determined(based on pullback) IF SUPPORT HOLDS 16pip risk : 100+ pips target {image}
Hello vqtrader,

I don't trade AU, so please bear that in mind with a few observations I'll presumptuously make:

Good trading and green pips
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  • #14,099
  • Jun 21, 2015 3:17pm Jun 21, 2015 3:17pm
Quoting honestknave
{quote} Hello vqtrader, I don't trade AU, so please bear that in mind with a few observations I'll presumptuously make: Good trading and green pips {image}

Good observation as I have that in mind. My expectation is a pullback and for my AB to hold and then a C form at structure. I am not buying now, but like the way you think honestnave. its on my buying rader
Empower Your Mind
  • #14,100
  • Jun 21, 2015 3:31pm Jun 21, 2015 3:31pm
Quoting vqtrader
{quote} Good observation as I have that in mind. My expectation is a pullback and for my AB to hold and then a C form at structure. I am not buying now, but like the way you think honestnave. its on my buying rader
Please keep us informed how you get on
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