{quote} Nice to see you sneaking some pips off that. I traded the short a little later on. I set up my stop and went away for a bitSuch is the risk of not babysitting ones open trades. {image}
Ratios & Harmonics: a Different Way to Trade
- #14,223
- Jul 15, 2015 6:29pm Jul 15, 2015 6:29pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Thanks. But honestly, on review, You had the higher probability trade. I should of been looking for shorts. It was only by circumstance that I managed to pull out with some profit. {image}
I was somewhat torn in my trade. After entry, price had failed 3 times to crack 1.0950 and it had struggled (before eventually succeeding) prior to entry too.
I was going AFK so I had 2 choices for the SL:
1. BE meaning I could potentially walk away with nothing despite having been 20 pips up with basically no drawdown.
2. Keep the SL above the entry SH. This ran the risk of a losing trade, but could give the necessary breathing room for the bears to regroup.
As it turns out, #2 would have been the better option. However, hindsight is a wonderful thing. I lost nothing and I certainly would have been more annoyed to have taken a 10 pip loss on the trade at that stage if things had turned around later.
- #14,224
- Jul 15, 2015 7:41pm Jul 15, 2015 7:41pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Interesting. Definitely got in at a critical decision point. I hope it goes in your favor.
Closed out that position mainly due to some rejection at the WS1 level as well as the 382 Fib.
Have a pending long entry as my expectation is still for Gold to jump a bit.
The Asian session will see price dance around a little bit ie move away from the DO and then test it again
But ultimate aim is for gold to move upward.
Masterrmind...........
Master your Mind then Master your Trades
- #14,225
- Jul 16, 2015 8:29am Jul 16, 2015 8:29am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Gold [H1 Chart] long entry
Re-entered long
Entry @ 1144.06 from candle shown.
SL just below monthly support (2)
TP set currently @ 1166.75
Trade will be monitored and adjusted as necessary
Expectation is for the possibility of gold to make a move higher however am also prepared for a further drop by the bears (SL set appropriately)
Masterrmind...........
Re-entered long
Entry @ 1144.06 from candle shown.
SL just below monthly support (2)
TP set currently @ 1166.75
Trade will be monitored and adjusted as necessary
Expectation is for the possibility of gold to make a move higher however am also prepared for a further drop by the bears (SL set appropriately)
Masterrmind...........
Master your Mind then Master your Trades
- #14,226
- Edited 8:59am Jul 16, 2015 8:37am | Edited 8:59am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
Good morning. Took a quick short (EURUSD) looking for PT at 1.0865-70
Trade was just off structure, order flow and PA. Price put in a NSL then made a full retracement with strength, expecting price to put in a HL. Position goes with the Long Term Bearish Trend.
As I write this Trades not going very well...
Update: Blahhhhhh... stopped out -11 pips. That was quick. HL was shallower then expected.
Trade was just off structure, order flow and PA. Price put in a NSL then made a full retracement with strength, expecting price to put in a HL. Position goes with the Long Term Bearish Trend.
As I write this Trades not going very well...
Update: Blahhhhhh... stopped out -11 pips. That was quick. HL was shallower then expected.
- #14,228
- Edited 10:25am Jul 16, 2015 10:03am | Edited 10:25am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
took a long on the EURUSD
I'm thinking, I entered prematurely though. Basic pullback to structure after strength. I'm not in sync with harmonics this morning. I seen then Bearish AB=CD that ended at the 1.0910-15 level but felt the strength from the Bulls lowered the probability of this trade so waited for a pullback to structure and RN to hopefully hop on board a continuation. That's what I'm expecting anyway
Looks like I might be on the losing end of this one as well...
Update:
0800 PST / 1100 EST: Yep, got clipped for - 15 pips. bigger loss then I wanted. Should of exited after entry bar was rejected and price closed back under RN but I decided to give it some room since I thought I entered early anyway.
(-26 pips today) I'm not reading price correctly today so I'm calling it in early today. Everybody have a good one.
I'm thinking, I entered prematurely though. Basic pullback to structure after strength. I'm not in sync with harmonics this morning. I seen then Bearish AB=CD that ended at the 1.0910-15 level but felt the strength from the Bulls lowered the probability of this trade so waited for a pullback to structure and RN to hopefully hop on board a continuation. That's what I'm expecting anyway
Looks like I might be on the losing end of this one as well...
Update:
0800 PST / 1100 EST: Yep, got clipped for - 15 pips. bigger loss then I wanted. Should of exited after entry bar was rejected and price closed back under RN but I decided to give it some room since I thought I entered early anyway.
(-26 pips today) I'm not reading price correctly today so I'm calling it in early today. Everybody have a good one.
- #14,229
- Jul 17, 2015 12:43am Jul 17, 2015 12:43am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Gold [H1 Chart] long entry {image} Re-entered long Entry @ 1144.06 from candle shown. SL just below monthly support (2) TP set currently @ 1166.75 Trade will be monitored and adjusted as necessary Expectation is for the possibility of gold to make a move higher however am also prepared for a further drop by the bears (SL set appropriately) Masterrmind...........
Currently in a sideways trend of small range but still in profit.
Will monitor the trade throughout the trading day and make a decision to either take some profit and then re-enter the trade again at an opportune time next week.
Or to leave the trade to run over the weekend (not my preferred way to trade however SL will need to be adjusted if necessary such that if price moves greatly in my favor then I'd lock in a SL with profit which would be acceptable)
The chart will need to be further analyzed as the trading day unfolds before an appropriate decision can be made.
Note that this Gold trade is meant to be a longer term trading opportunity so it will be analyzed as such including all Harmonic and Fundamental considerations.
Masterrmind........
Master your Mind then Master your Trades
- #14,230
- Jul 17, 2015 6:24am Jul 17, 2015 6:24am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
It is great to see honestknave, mack2013 and mastermind posting trades again. You all use the ratios and harmonics slightly different but equally awesome. Thanks guys, it gives me something to look at whilst waiting for setups. I hope to see more.
How you getting on with Volman?
- #14,231
- Jul 17, 2015 6:30am Jul 17, 2015 6:30am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
I'm not reading price correctly today so I'm calling it in early today. Everybody have a good one. {image}
Currently in long on GU (got in a little late)
The setup: a nice harmonic move down into a cluster of:
- 61 fib
- Major RN
- Daily Pivot
- Monthly Pivot
This should hopefully act as a hard deck for the bears.
Target at this stage is the 1.5650 area, which is confluent with the golden zone and Daily R1.
- #14,232
- Edited 9:49am Jul 17, 2015 9:33am | Edited 9:49am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} I haven't been seeing too many opportunities today or yesterday, particularly on EU. Currently in long on GU (got in a little late) The setup: a nice harmonic move down into a cluster of: 61 fib Major RN Daily Pivot
I did see something interesting when I was doing some structural analysis on the EURUSD 1Hr. I wont be trading it necessarily but if I can get an opportunity on my TF, I may look for extended targets... maybe a next week thing tho
- #14,233
- Jul 17, 2015 9:53am Jul 17, 2015 9:53am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} I haven't been seeing too many opportunities today or yesterday, particularly on EU. Currently in long on GU (got in a little late) The setup: a nice harmonic move down into a cluster of: 61 fib Major RN Daily Pivot
- #14,234
- Jul 17, 2015 10:53am Jul 17, 2015 10:53am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Yeah, I know whatcha mean. I'm not liking anything I see this morning. was looking at this but..... mahhhhhh! PA gave a lot of tempting signals. I just didn't like the Bears recent strength. Looking for trend continuation opportunities because I am expecting some more bearish pressure into 1.08000. {image} I did see something interesting when I was doing some structural analysis on the EURUSD 1Hr. I wont be trading it necessarily but if I can get an opportunity on my TF, I may look for extended targets... maybe a next week thing tho {image}...
- #14,235
- Jul 17, 2015 10:54am Jul 17, 2015 10:54am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Just took a look at your trade... Hopefully your still in cause the bulls are killing it. hell yeah! cha ching!
- #14,237
- Jul 17, 2015 11:55am Jul 17, 2015 11:55am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Oh well, At least you got at B/E.
- #14,238
- Jul 17, 2015 1:36pm Jul 17, 2015 1:36pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Took another punt long on GU a little earlier, seeing as I missed the boat last time.
Setup: 
Setup:
- 50 fib retracement from a strong bull push.
- AB=CD pattern completion
- Major RN (1.56)
- Monthly pivot
- Daily pivot
Target: whatever the market will give me tonight. I won't hold over the weekend.
(the marked TP was because I needed to go out for a bit. SL now moved to BE). Price currently rejecting the 25EMA, so might not be in it for much longer
This is the screenshot on entry:
