sl hit
Ratios & Harmonics: a Different Way to Trade
- #14,782
- Nov 19, 2015 9:03am Nov 19, 2015 9:03am
- Joined Aug 2011 | Status: Trader | 4,956 Posts
sl hit
As always with these readings it's always easy to comment in hindsight but it's good to see you practice. You will get to know what goes and what doesn't with repeated practice.
GL,
Matt
As the lights go by so too do the shadows move
{quote} The idea was there but be wary of trading against the order flow. If you look at the first pullback from the main swing it didn't quite hit the 50%. With just a shallow pullback like that then it could mean the swing isn't quite there yet. There is a nice AB=CD that eventuated but getting into the trade may of been difficult. I work with patterns too and as can be seen a slight H&S (1min) with the break of the falling TL out of the support structure may of instigated a trade. As always with these readings it's always easy to comment in hindsight...
Thanks for the inputs bro, methodically analysed. This is the way we gotta help each other here....
- #14,791
- Nov 24, 2015 3:32am Nov 24, 2015 3:32am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
well, the question is, where did price stop? exactly at 61.8% retracement. No wonder why Mr.Pip always tells to take profit at 61.8% retrace of the leg. I would have had +14pips instead of 8 if I had listened to him. But, sometimes it's fun to hope for more and be a little greedy 
isn't it. I just like the thought. 
the image below says it all. no need for explanations i guess.
isn't it. I just like the thought. the image below says it all. no need for explanations i guess.
- #14,792
- Nov 24, 2015 5:18am Nov 24, 2015 5:18am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
for those of you who are using ninjatrader and want to have the same platform set-up as me (which in turn is similar to Mr.PiP's if not exactly like his. Which is one of the reasons why I've named my template by his username , although the main reason being my way to pay tribute to him and to his great work
.)
I'm attaching the template doc to this post (see below). It was a trader who asked specifically about my set-up and I thought maybe other people would like to have it also.
happy trading
, although the main reason being my way to pay tribute to him and to his great work.)I'm attaching the template doc to this post (see below). It was a trader who asked specifically about my set-up and I thought maybe other people would like to have it also.
happy trading
- #14,793
- Nov 24, 2015 7:28am Nov 24, 2015 7:28am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
did anyone get that trade, cuz I missed it. Had to pick my kids from school. it's a shame to let such a great trade go 
- #14,794
- Nov 24, 2015 7:33am Nov 24, 2015 7:33am
- Joined Feb 2013 | Status: Trader | 1,458 Posts
did anyone get that trade, cuz I missed it. Had to pick my kids from school. it's a shame to let such a great trade go
- #14,795
- Nov 24, 2015 8:14am Nov 24, 2015 8:14am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} cant win them all lol
certainly not, and far from winning them ALL. but let's see where price will go and let's raise another case scenario to where it might go after that 
- #14,796
- Nov 24, 2015 8:17am Nov 24, 2015 8:17am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
maybe this scenario is valid??? 
but that would be swimming against the current,or by Mr.Pips words, trading against order flow. very important is HOW will price reach there, not IF.
Another case is if price goes higher and test that 1.0670 zone again. That could be a good place again to go short again. well, let's see. but maybe better leave trading for tomorrow as now is getting too late.
cheers
but that would be swimming against the current,or by Mr.Pips words, trading against order flow. very important is HOW will price reach there, not IF.
Another case is if price goes higher and test that 1.0670 zone again. That could be a good place again to go short again. well, let's see. but maybe better leave trading for tomorrow as now is getting too late.
cheers
- #14,797
- Nov 24, 2015 9:35am Nov 24, 2015 9:35am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
now this makes more sense. 
forget the previous chart.
note that the price hasn't retraced to 50% of the major swing yet (orange line in the chart). I'd expect it to reach 61.8% (around 1.0700-1.0710), which corresponds with another important zone, before heading south and make another NSL. anyway, better not to think too much.
note that the price hasn't retraced to 50% of the major swing yet (orange line in the chart). I'd expect it to reach 61.8% (around 1.0700-1.0710), which corresponds with another important zone, before heading south and make another NSL. anyway, better not to think too much.
- #14,798
- Nov 24, 2015 10:05am Nov 24, 2015 10:05am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
do you remember what we call this beautiful animal? what about Mr.Pip rules that validate that?(of course if that cute little thing comes to life) :nerd: 
- #14,799
- Nov 24, 2015 10:14am Nov 24, 2015 10:14am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
for pattern freak traders. Here u go. be my guest 
just don't forget that without good REASON, we don't trade them, no matter how pretty they are!!!
just don't forget that without good REASON, we don't trade them, no matter how pretty they are!!!