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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

  • #14,921
  • Dec 1, 2015 3:46am Dec 1, 2015 3:46am
my first trade today.
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The reasons why I entered there are these:
1. we are in a strong downtrend where market is making LH and LL. (see the main swings in the chart above). so we're trading with order flow (or with trend, whatever you name it).
2. Starting from the bottom of the chart, you can notice that we have harmonics completed (although extended a bit far from 1/1 completion, which is even better if u ask me).
3. Price went up to structure (notice the fib ratio from the main swing) and where precisely the price stopped (that is not random, remember that; and not a coincidence for that matter). Learn to see the structure guys and you have a powerful tool in your hand!
4. when you trade, you always need to ask yourself a question: who is buying there? After price made that nice jump (albeit with strong momentum, i'll comment on that also) would it be smart to chase price and buy there?
  • #14,922
  • Dec 1, 2015 5:16am Dec 1, 2015 5:16am
trade closed at + 20 pips. don't see price going lower for now (fat cats are watching this thread and trading against me ). anyway, I'd like to see price test that 1.065 again so that we look for short again hehe
  • #14,923
  • Dec 1, 2015 5:40am Dec 1, 2015 5:40am
Morning folks !! Over slept today. I had only one descent trade yesterday GC, met all the conditions and reached both targets.
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  • #14,924
  • Edited 8:22am Dec 1, 2015 6:11am | Edited 8:22am
placed a sell at this one. Didn't get the Bat completion, but there is area with a structure and some serious confluence, some harmonics in place ABCD completion, Good R/R.
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  • #14,925
  • Dec 1, 2015 6:29am Dec 1, 2015 6:29am
Quoting fxnikolaev
placed a sell at this one. Didn't get the Bat completion, but there is area with a structure and some serious confluence, some harmonics in place ABCD completion, Good R/R. {image} {image}
amazing. you're on fire today
  • #14,926
  • Dec 1, 2015 7:34am Dec 1, 2015 7:34am
Hello Traders,

I was speaking with Ujku80 and Devontrader last night and we were discussing some things. what was said is not important. what is important is expectations. We talked about that and I pulled out my chart and gave them my expectation for the future path of price and why it's critical that you develop this skill set. Price did exactly what I foretasted.

The chart below is of the Dow Futures and when we spoke price was at the point marked. I gave them the expectation on the correction and the expectation on the continuation. Price followed the path precisely. They can validate what I'm saying here. I am posting this because if you can forecast correction accurately, then the timing on your entrances will improve and if you can forecast targets accurately then your P/L will improve as well.
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Click to Enlarge Name: YM 12-15 (233 Tick) 12_1_2015.jpg Size: 122 KB
If you fail to plan, you plan to fail.
  • #14,927
  • Dec 1, 2015 7:50am Dec 1, 2015 7:50am
Quoting Mr. Pip
Hello Traders, I was speaking with Ujku80 and Devontrader last night and we were discussing some things. what was said is not important. what is important is expectations. We talked about that and I pulled out my chart and gave them my expectation for the future path of price and why it's critical that you develop this skill set. Price did exactly what I foretasted. The chart below is of the Dow Futures and when we spoke price was at the point marked. I gave them the expectation on the correction and the expectation on the continuation. Price followed...
You know what's fascinating? It is how you can (i wouldn't use the word predict, but foresee, or see in advance) and estimate where price can go and retrace. It's like you are two steps ahead (you know exactly where it will go, and make a top or a bottom there and then where it will retrace to). And what's more interesting is that you don't need any tool for that (no fibs, harmonics, or whatever tricks that traders use for that purpose). No! just looking at price, and price swings, and those highs and lows! that's it.

Have u ever heard the saying of Arthur Schopenhauer: "A talent hits the target that no one else can hit; A genius sees the target that no one else can see"!

Remember those words.
  • #14,928
  • Dec 1, 2015 8:00am Dec 1, 2015 8:00am
Quoting ujku80
{quote} You know what's fascinating? It is how you can (i wouldn't use the word predict, but foresee, or see in advance) and estimate where price can go and retrace. It's like you are two steps ahead (you know exactly where it will go, and make a top or a bottom there and then where it will retrace to). And what's more interesting is that you don't need any tool for that (no fibs, harmonics, or whatever tricks that traders use for that purpose). No! just looking at price, and price swings, and those highs and lows! that's it. Have u ever heard the...
You are too kind thank you for the quote. This is not hard like I mention and you saw me run through this. Everyone here can achieve this level of reading price but it takes some time and determination. Never ever give up! that is the difference between winning and losing.
If you fail to plan, you plan to fail.
  • #14,929
  • Dec 1, 2015 8:04am Dec 1, 2015 8:04am
Everything you need to know about strength and weakness, where price wants to go is already on your chart. Nothing else is needed but price. Fibs, Harmonics and everything else are just tools to add confluence and help you built a stronger case to execute. Own price action and you will be in control of your future!
If you fail to plan, you plan to fail.
  • #14,930
  • Dec 1, 2015 8:19am Dec 1, 2015 8:19am
For those Harmonic Pattern fans Dow Emini Futures potential Gartley. I just wanted to show you the PRZ area and the importance of adding confluence to the area. I will update you all on the progress and if I take the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-15 (233 Tick) 12_1_2015.jpg Potential Gartley.jpg Size: 98 KB
If you fail to plan, you plan to fail.
  • #14,931
  • Dec 1, 2015 8:24am Dec 1, 2015 8:24am
Quoting fxnikolaev
placed a sell at this one. Didn't get the Bat completion, but there is area with a structure and some serious confluence, some harmonics in place ABCD completion, Good R/R. {image} {image}
Loss -1%. Couldn't get in on Bat

Looking in to trading opportunity at cable
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  • #14,932
  • Dec 1, 2015 8:28am Dec 1, 2015 8:28am
Quoting Mr. Pip
For those Harmonic Pattern fans Dow Emini Futures potential Gartley. I just wanted to show you the PRZ area and the importance of adding confluence to the area. I will update you all on the progress and if I take the trade. {image}
Those charts looking nicer, compare to forex. what about commission? And how do they open a trade, at your price or by best price ?
  • #14,933
  • Dec 1, 2015 9:08am Dec 1, 2015 9:08am
Quoting fxnikolaev
{quote} Those charts looking nicer, compare to forex. what about commission? And how do they open a trade, at your price or by best price ?
I get better pricing then FOREX and execution is great little to no slippage. I really don't split pennies on the best price issue as long as I get filled it does not matter to me.
If you fail to plan, you plan to fail.
  • #14,934
  • Dec 1, 2015 9:23am Dec 1, 2015 9:23am
Well the Gartley failed miserably too much strength so I did not take the entry and price went on to test market highs and complete a very nice ABCD I did not take the short because of the strength by which price got there. Too bad! It was a home run! the market is very volatile today so caution must be taken on entries.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #14,935
  • Dec 1, 2015 9:59am Dec 1, 2015 9:59am
eventually get in to Bat at EJ, first target reached, closed 1/3 and SL moved in to BE
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  • #14,936
  • Dec 1, 2015 10:01am Dec 1, 2015 10:01am
GJ Bat failed, no trade executed
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  • #14,937
  • Dec 1, 2015 10:45am Dec 1, 2015 10:45am
in the chart below, i got a good Gartley. can anybody please see my correctness before it is too late?
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  • #14,938
  • Dec 1, 2015 11:10am Dec 1, 2015 11:10am
Quoting smarajit1
Dear UJ and all other senior traders in this thered, first i apologise to all of you because i have something to tell about the FORBIDDEN item in this thread. with all respect to Mr. Pip's guide for indicators usage, i still feel some indicators can give amazing result in combination with Harmonic patterns, in below chart of AUDUSD, i have identified butterfly formation and AB=CD formation within BFly. my plan is to sell CD leg with 1st target on AB=CD prz and second target near Bfly PRZ.(Long term trend is down for this pair) Now for entering i...
Dear Sirs.
can't i get my post answered? is it so bad post?
  • #14,939
  • Dec 1, 2015 11:48am Dec 1, 2015 11:48am
Quoting smarajit1
{quote} Dear Sirs. can't i get my post answered? is it so bad post?
My rules have not changed and will not change indicators will not place you ahead of price they ALL LAG. They are a derivative of price. They have 0 predictive value. If you are in tune with the price action you don't need them and will only add confusion because what they are telling you may not be the case when you look at price.

Have I answered your post or is there a different point I need to make?
If you fail to plan, you plan to fail.
  • #14,940
  • Dec 1, 2015 12:11pm Dec 1, 2015 12:11pm
Quoting smarajit1
{quote} Dear Sirs. can't i get my post answered? is it so bad post?
oh sorry smarajit1,

I had completely forgotten to answer that. Well, replying to you now, after Mr Pip, it'd be like a day after the fair.

Anyway, as you might see in the trades that I take, I don't use indicators. And I'm far from being a professional trader. I've been trading for more than a year while most of people here, including those that may read this post, have been trading for a longer time (most probably). My point is, that even though I'm a novice, I don't need "confirmation" by indicators to enter in a trade. Whatever the pair, TF or buy or sell option.

Honestly, I don't see how "indicators can give amazing results" as you mention. You see, you are missing the point here. It's not the indicators that give the results in this business. It's the price that behaves in ways that indicators might reflect them by giving you signals for entry. Indicators are the echo of price! OK? You see a lightning strike somewhere? That is price. The sound of it, is the indicator. How long does it take for the sound to reach you? Well, that would depend on the speed of sound in that environment and the distance from you to the lightning (I'm a physicist btw, i can explain these things to you in details if you wish). Now the same story is true for price and indicators. How far does it take for an indicator to send a signal to the traders? well, that depends on the indicator you use, on the market that u trade (sometimes), timeframe etc etc. which are all variables that may or may not have an effect on how an indicator works.
Now, instead of focusing on the indicator and counting on its help to show you where to buy and sell, why don't you just look at the lightning to tell me where it is that is striking? i mean, the price. WHY?

just my humble opinion

regards
arjan
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