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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

  • #14,721
  • Nov 6, 2015 8:36am Nov 6, 2015 8:36am
Quoting ujku80
well, this was a good week for me I should say. I don't think i'd enter again. let's see what the next week will bring, but obviously expectation are to wait for EU make a PB and then go short again. I think USD is headed towards parity with EUR, if u ask me...but time will tell. cheers and have a good weekend
Congrats on a good week!

Enjoy your weekend
  • #14,722
  • Nov 6, 2015 9:15am Nov 6, 2015 9:15am
Good morning.

took this trade on the EURUSD. This might be a flop because price is hesitating to continue but I took it anyway..... I put in on the 1 min chart. looks better then the 5 min which seems cluttered

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  • #14,723
  • Nov 6, 2015 10:27am Nov 6, 2015 10:27am
Quoting Mack2013
Good morning. took this trade on the EURUSD. This might be a flop because price is hesitating to continue but I took it anyway..... I put in on the 1 min chart. looks better then the 5 min which seems cluttered {image}
Lovely setup Mack, shame I missed that one
Have you held it or got out? It didn't quite make the 1:1 to the downside, but I suspect the weekly pivot pushed it away
  • #14,724
  • Nov 6, 2015 10:34am Nov 6, 2015 10:34am
Quoting honestknave
{quote} Lovely setup Mack, shame I missed that one Have you held it or got out? It didn't quite make the 1:1 to the downside, but I suspect the weekly pivot pushed it away
I'm still in it. it has me worried because of the short term HL. Sort of setting up a ascending triangle. its coming up on the 4 attempt so if this fails to reject and continue down (if that makes sense) then i'll be looking to exit. hopefully for a BE or small loss.

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  • #14,725
  • Nov 6, 2015 10:45am Nov 6, 2015 10:45am
Quoting Mack2013
{quote} I'm still in it. it has me worried because of the short term HL. Sort of setting up a ascending triangle. its coming up on the 4 attempt so if this fails to reject and continue down (if that makes sense) then i'll be looking to exit. hopefully for a BE or small loss. {image}
Hi Mack, hard one to call

For the last few hours price has been reacting to a massive bearish move, plus it is the end of the week. There's probably an element of profit taking before the weekend with London going home soon which may bounce price around a bit.

The barrier that has formed at 1.0750 has proven resilient, and on the short time frame the bears have managed to push out some LL.... until they hit the trendline.

Now price is lingering at the barrier far longer that it had been. That congestion invariably builds up pressure, so when it blows it will probably move quite strongly.

Fingers crossed!
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  • #14,726
  • Nov 6, 2015 10:53am Nov 6, 2015 10:53am
Quoting honestknave
{quote} Hi Mack, hard one to call For the last few hours price has been reacting to a massive bearish move, plus it is the end of the week. There's probably an element of profit taking before the weekend with London going home soon which may bounce price around a bit. The barrier that has formed at 1.0750 has proven resilient, and on the short time frame the bears have managed to push out some LL.... until they hit the trendline. Now price is lingering at the barrier far longer that it had been. That congestion invariably builds up pressure,...
Uhmmm. I think your right. I think I'll just hold to see the reaction. weather it be up or down.(wheres the "flip a coin" icon. LOL) If its up, I got my fingers on the trigger to exit early but hoping down. a breakout in the trendline would put some nerves at ease.

Update.... 1 minute later. NICE!!!! a break... go Bears! Out of the way Bulls
  • #14,727
  • Nov 6, 2015 11:10am Nov 6, 2015 11:10am
Quoting Mack2013
{quote} Uhmmm. I think your right. I think I'll just hold to see the reaction. weather it be up or down.(wheres the "flip a coin" icon. LOL) If its up, I got my fingers on the trigger to exit early but hoping down. a breakout in the trendline would put some nerves at ease. Update.... 1 minute later. NICE!!!! a break... go Bears! Out of the way Bulls
Trend line broken to the south
  • #14,728
  • Edited 12:29pm Nov 6, 2015 11:33am | Edited 12:29pm
Quoting honestknave
{quote} Trend line broken to the south
thanks man. I feel a bit better about this trade now that i'm not eating dirt. The bears still look weak even tho they are making some gains so maybe a retest of the lows maybe unrealistic.... at least I'm at break-even.

Damn it! I got knocked out on spread. at the very top+1 pip hahahahahahaha.... waahhhhhhhhhh!

I guess thats the way she goes sometimes.

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  • #14,729
  • Edited 1:26pm Nov 6, 2015 1:04pm | Edited 1:26pm
Quoting Mack2013
{quote} thanks man. I feel a bit better about this trade now that i'm not eating dirt. The bears still look weak even tho they are making some gains so maybe a retest of the lows maybe unrealistic.... at least I'm at break-even. Damn it! I got knocked out on spread. at the very top+1 pip hahahahahahaha.... waahhhhhhhhhh! I guess thats the way she goes sometimes. {image}
Aww! That's frustrating!

Price really seems to be respecting that Weekly S1 today (I didn't trade any of that, I'm just looking at the chart)
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  • #14,730
  • Edited 5:27am Nov 7, 2015 5:04am | Edited 5:27am
Quoting honestknave
{quote} Congrats on a good week! Enjoy your weekend
thank you, likewise. cheers mate
  • #14,731
  • Nov 7, 2015 5:23am Nov 7, 2015 5:23am
Quoting Mack2013
{quote} thanks man. I feel a bit better about this trade now that i'm not eating dirt. The bears still look weak even tho they are making some gains so maybe a retest of the lows maybe unrealistic.... at least I'm at break-even. Damn it! I got knocked out on spread. at the very top+1 pip hahahahahahaha.... waahhhhhhhhhh! I guess thats the way she goes sometimes. {image}
ahhh, that really sucks. it happens to me all the time. actually when i think of that, I would done quite well in the long run if I hadn't moved my SL too soon for the market to take it out and the then leave without me. big boys know how to play.

But, sometimes, it plays out to have a decent broker with better spreads or less slippage. I was testing my previous broker in a demo account (using MT4, an australian broker, let's not mention the name now. well actually I was participating for fun in a recent trading contest on cashbackforex, so u can check who was that broker) and was taking parallel trades both with FXCM on ninja trader and on MT4, and I could see the difference. In one occasion specifically, I had placed my stop just a few pips below the recent low, and the market pulled back to test that low but didn't go that far on ninjatrader, whereas my stop at MT4 was hit. And that specific trade resulted in 48 pips profit in my real account, while my the demo acc in MT4 was at a loss. And it was interesting to see that the price made a spike on MT4 which was nonexistent on ninjatrader, so think about that. Broker's commissions are not the most important thing that the trader should focus on. Just saying that.
  • #14,732
  • Nov 9, 2015 2:56am Nov 9, 2015 2:56am
Good morning everyone, another week with fresh opportunity

EU chart still waking up. My bias is short after price has made a weak ascending wedge up to the 38 fib of last week's sell off.

But not entering yet

Good luck everyone!
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  • #14,733
  • Nov 9, 2015 4:05am Nov 9, 2015 4:05am
Quoting honestknave
Good morning everyone, another week with fresh opportunity EU chart still waking up. My bias is short after price has made a weak ascending wedge up to the 38 fib of last week's sell off. But not entering yet Good luck everyone! {image}
Hello Honestknave,

good eye on this pair. I'd like to wait a bit also, before I go short. here is what I see:
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My main problem going short now would be that I don't have a place where to put my stop loss. U know, first thing to consider before entering a trade is where to locate SL. So, I'd rather wait for the market to show a swing high, and then a PB and make a new low, and on the retrace of the PB enter short...smth like that, but not too complicated. anyway, PA will reveal where is market headed. my expectations lie in 1.0800-0820 area
  • #14,734
  • Nov 9, 2015 4:12am Nov 9, 2015 4:12am
Hi ujku80,

Hope you had a good weekend.

I've hopped in short already (trigger around the upper blue rectangle), but as you have correctly identified it may well be too early.

Regarding the SL, for me a clear violation of the confluence zone comprising: TL / DPP / Structure would be an invalidation.

Let's see what happens
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  • #14,735
  • Nov 9, 2015 4:27am Nov 9, 2015 4:27am
Quoting honestknave
Regarding the SL, for me a clear violation of the confluence zone comprising: TL / DPP / Structure would be an invalidation.
Which would be right around where price is now... bears need to pull something impressive out the bag, and quickly too!
  • #14,736
  • Nov 9, 2015 4:40am Nov 9, 2015 4:40am
Quoting honestknave
Hi ujku80, Hope you had a good weekend. I've hopped in short already (trigger around the upper blue rectangle), but as you have correctly identified it may well be too early. Regarding the SL, for me a clear violation of the confluence zone comprising: TL / DPP / Structure would be an invalidation. Let's see what happens {image}
Thank you Honest. Yes, my weekend was good. And I hope you had a good weekend too.

ah, unfortunately, this level didn't hold. It's tricky when everyone knows that the pair is going south....cuz right then the big boys (or the [email protected], as I call them) enter just to create diversion, and trick traders into thinking that the pair might be for a decent PB and then....bang... a couple hundred pips south again.

I've decided to wait today and maybe stay aside and not enter at all. I need to see proper weakness... just like in the figure below, before the market made that down move.
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  • #14,737
  • Nov 9, 2015 4:46am Nov 9, 2015 4:46am
hey, I think our thread is getting some attention. 20 traders viewing right now hehe
come on guys, don't be shy. post your ideas here so that we could all learn from each-other...

cheers to all of you reading these lines now and happy trading!
  • #14,738
  • Nov 9, 2015 5:20am Nov 9, 2015 5:20am
Quoting ujku80
{quote} Thank you Honest. Yes, my weekend was good. And I hope you had a good weekend too. ah, unfortunately, this level didn't hold. It's tricky when everyone knows that the pair is going south....cuz right then the big boys (or the ([email protected]), as I call them) enter just to create diversion, and trick traders into thinking that the pair might be for a decent PB and then....bang... a couple hundred pips south again. I've decided to wait today and maybe stay aside and not enter at all. I need to see proper weakness... just like in the figure...
Yep, the set up was definitely invalidated.

I also share your longer term bearish bias, so I elected to offset another trade (GU) currently in profit in order to give it a chance to come good... while remaining in net profit acceptable DD between the 2 trades. This is a trade management technique off topic for this thread so I'll leave it at this: the setup was definitely invalidated

Probably a good plan to sit the day out - I'm having to work hard today to keep my head above water.
  • #14,739
  • Nov 9, 2015 5:21am Nov 9, 2015 5:21am
Quoting ujku80
hey, I think our thread is getting some attention. 20 traders viewing right now hehe come on guys, don't be shy. post your ideas here so that we could all learn from each-other... cheers to all of you reading these lines now and happy trading!
I'm having these 3 in my watchlist since we are having some major news data releases on AUD, NZD and GBP this week

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  • #14,740
  • Nov 9, 2015 5:35am Nov 9, 2015 5:35am
Quoting aky
{quote} I'm having these 3 in my watchlist since we are having some major news data releases on AUD, NZD and GBP this week {image} {image} {image}
Thanks for posting aky - you have some well thought out plans there
It's also nice to see some longer time frame setups posted; I don't really get much time to look at them normally
23 traders viewing now