Ratios & Harmonics: a Different Way to Trade
- #14,162
- Jun 30, 2015 3:13pm Jun 30, 2015 3:13pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Very Good Honest. I like your thought process. Aj1
I realized that by posting live calls today I was getting too close to the "trade journal" side of things, so I thought I'd try to bring things back around on track
- #14,163
- Jun 30, 2015 3:31pm Jun 30, 2015 3:31pm
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
{quote} Excellent to see you snagging some pipsEnjoy the snooze! I have closed out my EURUSD short for +22 pips. Decision point not to exit at BE: not enough enthusiasm from the bulls to convince me they were going to break through the RN. If you look at the strength of the previous failed attack on the RN (just before entry) this attack was much weaker. Exit point was 1:1 completion to the downside, coincident with minor RN, extensive prior structure (plus MA). {image}
Good trade Captain
. I think I should learn and add harmonics style of trading to my arsenal as it will complement my style of trading, and will be better for it as I like your analysis and projections.
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- #14,164
- Jun 30, 2015 3:45pm Jun 30, 2015 3:45pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Good trade Captain
The originator of this thread (Mr. Pip) is MIA however before he departed he put in a wealth of information and videos that are a fantastic introduction to the style. I think there is a youtube channel (or 2) for him somewhere too.
Other great material (books, youtube videos, blogs) include Scott Carney (Harmonic Trader), Lance Beggs (Your Trading Coach), Carolyn Boroden (Fibonacci Queen), Steve Nison (Candlesticks) to name but a few.
I'm currently working through Bob Volman's book "Understanding Price Action" on the recommendation of a friend and I'm liking it so far
- #14,165
- Jul 1, 2015 1:09am Jul 1, 2015 1:09am
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
{quote} Sure thing George, hop on board! The more the merrier. It's the only way I trade, not that that means very much
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- #14,166
- Jul 1, 2015 1:28am Jul 1, 2015 1:28am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Thanks Andrew, I'll read through the thread and some of the materials/resources you mentioned.
My humble suggestion is to not get too Orwellian (hung up on Animal Farm - pardon the pun). These 5 point patterns like Shark, Bat, Butterfly, Crab etc are all just made up of AB=CD patterns.
Personally, I stick to the building blocks, namely AB=CD variants.
- #14,167
- Jul 1, 2015 4:17am Jul 1, 2015 4:17am
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
{quote} Great
Just wanted to add another small edge 
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- #14,169
- Jul 1, 2015 1:00pm Jul 1, 2015 1:00pm
- Joined Feb 2013 | Status: Trader | 1,458 Posts
Like the idea..lead the way with pics etc as examples
{quote} Great
- #14,171
- Jul 6, 2015 8:00am Jul 6, 2015 8:00am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
A bit quiet around here again
A simple long on EURUSD in line with the order flow that started after the weekend gap down.
Golden zone retracement, major RN and 2x AB=CD patterns completing
A simple long on EURUSD in line with the order flow that started after the weekend gap down.
Golden zone retracement, major RN and 2x AB=CD patterns completing
- #14,172
- Jul 7, 2015 11:03am Jul 7, 2015 11:03am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
In an attempt to save the thread from Page 2 oblivion... a follow up to yesterday's long call on EURUSD.
It is nice to see EURUSD can still offer such harmonic simplicity these days
It is nice to see EURUSD can still offer such harmonic simplicity these days
- #14,173
- Jul 7, 2015 11:17am Jul 7, 2015 11:17am
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
In an attempt to save the thread from Page 2 oblivion... a follow up to yesterday's long call on EURUSD. It is nice to see EURUSD can still offer such harmonic simplicity these days
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- #14,174
- Jul 8, 2015 4:12am Jul 8, 2015 4:12am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote}
- #14,175
- Jul 8, 2015 4:17am Jul 8, 2015 4:17am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Today's long on EURUSD.
Nothing particularly complicated - it's been bullish order flow today. There was a golden zone retracement with some reduced projections and so off we go.
An optimistic target is a 1:1 completion at the Weekly PP. I say optimistic because the RN (current battle), then structure, then the Daily R1 still to conquer before getting there
May well exit before depending on how those barriers all work out.
Nothing particularly complicated - it's been bullish order flow today. There was a golden zone retracement with some reduced projections and so off we go.
An optimistic target is a 1:1 completion at the Weekly PP. I say optimistic because the RN (current battle), then structure, then the Daily R1 still to conquer before getting there
May well exit before depending on how those barriers all work out.
- #14,176
- Jul 8, 2015 4:25am Jul 8, 2015 4:25am
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
{quote} Thanks George, I hope your trading is going well
I'm trying to go back to my old trading system of projecting price like you Harmonic traders do, for more pips and have to tweak the MADdash a bit to achieve that. Work in progress, but meanwhile will continue with my scalping strategy for now. Just missed selling the Euro on bounce off the M5 & M15 TMA. Will leave it as I don't want to run after trades - I want the trades to come to me
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- #14,177
- Jul 8, 2015 4:29am Jul 8, 2015 4:29am
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
Today's long on EURUSD. Nothing particularly complicated - it's been bullish order flow today. There was a golden zone retracement with some reduced projections and so off we go. An optimistic target is a 1:1 completion at the Weekly PP. I say optimistic because the RN (current battle), then structure, then the Daily R1 still to conquer before getting there
Funny enough I was also looking @ this possible long and projecting your AB = CD but when I noticed the upper band of the M5 & M15 TMA coinciding with yesterday's high, I thought a strong resistance may be there and was planning to sell before I got distracted.
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- #14,178
- Jul 8, 2015 5:49am Jul 8, 2015 5:49am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Funny enough I was also looking @ this possible long and projecting your AB = CD but when I noticed the upper band of the M5 & M15 TMA coinciding with yesterday's high, I thought a strong resistance may be there and was planning to sell before I got distracted.
My trade didn't make target. Lots of midtrade replanning required to scrape 22 pips off the table. Plenty more left behind
The first pullback wasn't too much cause for concern: a nice "triple" of MA, 61 fib and trendline (now redrawn lower on attached screenshot).
The lower high just beyond the RN was definitely not what I wanted to see.
Then the slightly lower low (almost a double bottom) did little to ease the tension.
The pattern line of highs coinciding with the stubborn RN made for the obvious abandon ship point.
- #14,179
- Jul 8, 2015 6:02am Jul 8, 2015 6:02am
- Joined Jul 2010 | Status: Great hopes make great men | 2,042 Posts
{quote} Good trading and good spot George! My trade didn't make target. Lots of midtrade replanning required to scrape 22 pips off the table. Plenty more left behind
Not surprising Andrew as both EUR & USD groups are almost equally matched on my MT & LT dash and when this happens we have no edge, and can only trade the bounce btw the lower and upper TMA because the USD seem to have the upper hand on the ST dash with the MT now turning to join the ST. I am testing and playing with some new settings on the MADdash to create a ST, MT and LT view of the trend as per enclosed.
Off to snooze as leaving for work in another few hours, and that should change in about a fortnight's time when I will apply to go part-time, so I can have 2 full days of trading.
Shalom
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- #14,180
- Jul 8, 2015 9:59am Jul 8, 2015 9:59am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Not surprising Andrew as both EUR & USD groups are almost equally matched on my MT & LT dash and when this happens we have no edge, and can only trade the bounce btw the lower and upper TMA because the USD seem to have the upper hand on the ST dash with the MT now turning to join the ST. I am testing and playing with some new settings on the MADdash to create a ST, MT and LT view of the trend as per enclosed. {image} Off to snooze as leaving for work in another few hours, and that should change in about a fortnight's time when I will apply...
Enjoy the snooze!