Ratios & Harmonics: a Different Way to Trade | Page 769 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #15,361
  • Jan 21, 2016 8:23am Jan 21, 2016 8:23am
Quoting danielwang
Hi Harmonics traders, Is this a valid aggressive C SELL at Japan Nekkei 225 1H chart? Goes with the order flow. May form ABCD reaching 15500. ?? {image}
Yes it is.
If you fail to plan, you plan to fail.
  • #15,362
  • Jan 21, 2016 8:24am Jan 21, 2016 8:24am
Quoting Pair-me-up
{quote} I learn the most from play by plays!! I know a lot of traders out there that are mind readers.. but for us non mind readers... we really and truly appreciate the play by plays of an experienced trader. This method of teaching helps us to start creating the proper targets and to gain the confidence to pull the trigger correctly with out worrying about loses that are part of the emotional part. Great job on the play by play.. Keep them coming when you have time.
OK Thanks for the feedback it helps.
If you fail to plan, you plan to fail.
  • #15,363
  • Jan 21, 2016 8:35am Jan 21, 2016 8:35am
Quoting danielwang
AUDUSD seems to be trading in range these hours. Hi Mr Pip and other traders, 1. is the order flow downward in AUDUSD 1H chart? seems not that strong flow... 2. Is the blue ABC or orange ABC in this case? or should i just wait and dont take any aggressive C yet? i have similar question on EU the day before Thank you. {image}
Quote
1. is the order flow downward in AUDUSD 1H chart? seems not that strong flow...

No at the moment the order flow is not down. There is complete breakdown of order flow and you are in a range. When this happens it's best to stay on the sidelines or look for increase momentum to help you assess who is gaining strength and who is losing strength.

Quote
2. Is the blue ABC or orange ABC in this case? or should i just wait and dont take any aggressive C yet?

there always doesn't have to be a pattern. I know that the ABCD and it's brother the AB=CD occur repeatedly in a trend we must be aware what is happening withing the framework of price. Be patient and wait for price to come to you. Identify where decisions will be made and let price confirm to you that the decision has been made. Then take the trade with confidence. If order flow is against you and the R/R is acceptable manage the trade aggressively and be accountable.
If you fail to plan, you plan to fail.
  • #15,364
  • Jan 21, 2016 8:39am Jan 21, 2016 8:39am
Quoting danielwang
Awesome drop in EURGBP after bearish BAT. Harmonics could even predict news {image}
News is only a period of volatility. There are laws that even news respects. Be aware of it only from a trade management perspective. If you know volatility will come into the market at a specific time and you are in a trade see if there is room to reduce risk or lock in profit but never, ever increase risk because news is coming out.
If you fail to plan, you plan to fail.
  • #15,365
  • Jan 21, 2016 8:42am Jan 21, 2016 8:42am
Quoting CBinBC
{quote} Great - now I have to learn Russian on top of Forex - But seriously, this is a great thread and I am learning lots. To contribute something back, I've attached some of the English version of Lance Beggs course. Not harmonics, but very in depth look at order flow and why prices move. Hope it helps. {image} {image} {image}
I learned a lot from this course and made the information my own. Almost all of my price reading skills come from this foundation. Well worth the time.
If you fail to plan, you plan to fail.
  • #15,366
  • Jan 21, 2016 8:44am Jan 21, 2016 8:44am
Quoting danielwang
Hi Mr Pip, GBPCAD seems be at confluence of the completion of big ABCD and small AB=CD. should it be a valid reversal? but this pair still keep dropping. {image}
I wouldn't touch that, looks like a falling knife. taking a long there would have you doing this and this
If you fail to plan, you plan to fail.
  • #15,367
  • Jan 21, 2016 8:50am Jan 21, 2016 8:50am
Quoting Mr. Pip
{quote} {quote} No at the moment the order flow is not down. There is complete breakdown of order flow and you are in a range. When this happens it's best to stay on the sidelines or look for increase momentum to help you assess who is gaining strength and who is losing strength. {quote} there always doesn't have to be a pattern. I know that the ABCD and it's brother the AB=CD occur repeatedly in a trend we must be aware what is happening withing the framework of price. Be patient and wait for price to come to you. Identify where decisions will...
Hi Mr Pip,

Thanks a lot for the detailed sharing on this. Greatly appreciate it. Thank you.
  • #15,368
  • Jan 21, 2016 9:08am Jan 21, 2016 9:08am
Quoting danielwang
{quote} Hi Mr Pip, Thanks a lot for the detailed sharing on this. Greatly appreciate it. Thank you.
Welcome! I hope it does for you what it has done for me. Many blessing and good trading Daniel!
If you fail to plan, you plan to fail.
  • #15,369
  • Edited 4:20pm Jan 21, 2016 3:59pm | Edited 4:20pm
I have teaching moment for myself and others. I made a first year forex rookie mistake and broke the very first investment rule. When in profit move stops to BE. I took a trade on EUR/NZD 5min time frame a few days ago and locked in 1 position at BE and was up approx. 300+pips found another good entry point and opened another position and was in profit. I was late for work doing this and took a shower jumped in the car and BAM forgot to move stops. I was away from the computer another day and picture says it all. Closed -100 or so other at BE.

Moral of the story: I am not so much concern about the pips but I am emotional about what caused it. Lack of focus, life and trade time management. Been trading for 7 years four using Harmonics thanks to Mr Pips. I have been in this thread since he opened it off and on. Life/ family stuff.

Choose a time frame that fits your lifestyle and temperment. Harmonics are everywhere and on any timeframe. I was just unfortunate to get caught with my pants down. Okay I learned my lesson now.

I HATE WHEN THAT HAPPENS
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.8.jpg Size: 269 KB
Empower Your Mind
  • #15,370
  • Jan 21, 2016 4:28pm Jan 21, 2016 4:28pm
Quoting vqtrader
I have teaching moment for myself and others. I made a first year forex rookie mistake and broke the very first investment rule. When in profit move stops to BE. I took a trade on EUR/NZD 5min time frame a few days ago and locked in 1 position at BE and was up approx. 300+pips found another good entry point and opened another position and was in profit. I was late for work doing this and took a shower jumped in the car and BAM forgot to move stops. I was away from the computer another day and picture says it all. Closed -100 or so other at BE. Moral...
Shake it off big guy. It's only a problem if you didn't learn from it. Some lessons costs us money. I screw up every now and then too. Thanks for sharing the good the bad and the ugly.
If you fail to plan, you plan to fail.
  • #15,371
  • Jan 21, 2016 4:37pm Jan 21, 2016 4:37pm
Quoting Mr. Pip
{quote} Shake it off big guy. It's only a problem if you didn't learn from it. Some lessons costs us money. I screw up every now and then too. Thanks for sharing the good the bad and the ugly.
Thanks.
Empower Your Mind
  • #15,372
  • Edited 6:31pm Jan 21, 2016 5:01pm | Edited 6:31pm
U/J 5min short at BE possible 16 pips

closed: +16pips

Edit: U/J 1min long possible 10 pips(4pip risk)

closed: +10 pips


Before anyone ask yes I do things at price when it comes to TP and ratios only. Wicks are important too. I have seen price rub my target MANY TIMES and reverse. Since I change that fact TP is not so bad. Also you will notice a 1.27ext. I use it aswell. Fewer pips but this works for me. Not to many folks do it this way. When price closes above/below it, its almost a sure thing. I said almost. That is the only difference anything else is strictly Mr pips

Trendlines are just my lazy way to gauge the market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot.9.jpg Size: 311 KB
Click to Enlarge Name: screenshot.10.jpg Size: 222 KB
Click to Enlarge Name: screenshot.11.jpg Size: 336 KB
Click to Enlarge Name: screenshot.12.jpg Size: 308 KB
Empower Your Mind
  • #15,373
  • Jan 21, 2016 6:19pm Jan 21, 2016 6:19pm
Quoting vqtrader
U/J 5min short at BE possible 16 pips closed: +16pips Before anyone ask yes I do things at price when it comes to TP and ratios only. Wicks are important too. I have seen price rub my target MANY TIMES and reverse. Since I change that fact TP is not so bad. Also you will notice a 1.27ext. I use it aswell. Fewer pips but this works for me. Not to many folks do it this way. When price closes above/below it, its almost a sure thing. I said almost. That is the only difference anything else is strictly Mr pips Trendlines are just my lazy way to gauge...
Nice work way to take it and make it your own. Big difference from when we first met. Way to go!!
If you fail to plan, you plan to fail.
  • #15,374
  • Jan 21, 2016 7:21pm Jan 21, 2016 7:21pm
To Mr Pip and other traders,

is this a valid bearish BAT? Good that the confluence meet the downward trendline upper bound.


However, price has been stagnant here for quite a while in this PRZ. Will this invalidate the reversal?
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 373 KB
  • #15,375
  • Jan 21, 2016 11:03pm Jan 21, 2016 11:03pm
Quoting danielwang
To Mr Pip and other traders, is this a valid bearish BAT? Good that the confluence meet the downward trendline upper bound. However, price has been stagnant here for quite a while in this PRZ. Will this invalidate the reversal? {image}
Ok. Noticed that I was wrong. BAT needs to go to 1.618 extension. Near 168.5 level.
  • #15,376
  • Jan 22, 2016 3:05am Jan 22, 2016 3:05am
Quoting Mr. Pip
{quote} I for one enjoy taking courses and seminars on trading. There is always something of value that can enhance your particular style. We should never stop growing. I will never go back either. My journey was long but I guess that's why it is so sweet now.
why to fix something which is not broken ? I am looking in to info and studies about harmonic, but there is nothing new so far. I have 10-12 trades a week, and 20% a week, as long as it will stay that way, I am not going to change it )))))
  • #15,377
  • Jan 22, 2016 3:08am Jan 22, 2016 3:08am
Any way Thx for your time, and your work Mr.Pip, it was pleasure to meet you !!!
  • #15,378
  • Jan 22, 2016 4:28am Jan 22, 2016 4:28am
Quoting fxnikolaev
{quote} why to fix something which is not broken ? I am looking in to info and studies about harmonic, but there is nothing new so far. I have 10-12 trades a week, and 20% a week, as long as it will stay that way, I am not going to change it )))))
I think you misunderstand some of the things I say. I'm not trying to change anything and I haven't but we should never stop growing. We need to continue to feed our intellect so that we may have meaningful conversations about topics.

And I can't help but to comment that your returns are extraordinary with performances like that where you are making 20% weekly you must or will be on the cover of FORBES in no time. Hell you will be the riches man in the galaxy if you are not already. I applaud you sir I hope you are not over leveraging your account to achieve that if in fact it is true because if you are you are just a few losses from blowing your account. Good luck to you!
If you fail to plan, you plan to fail.
  • #15,379
  • Jan 22, 2016 4:40am Jan 22, 2016 4:40am
Hi Mr Pip,

Could you please share some comments on why this GBPJPY 1H bearish BAT fail?

How could we manage it better next time?

Check order flow? structure? Appreciate if you could take this case as example and share a bit on your thought if you are at the PRZ candle. Thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1, BAT fail, 22 Jan 2016.png Size: 35 KB
  • #15,380
  • Jan 22, 2016 5:04am Jan 22, 2016 5:04am
Quoting Mr. Pip
{quote} I think you misunderstand some of the things I say. I'm not trying to change anything and I haven't but we should never stop growing. We need to continue to feed our intellect so that we may have meaningful conversations about topics. And I can't help but to comment that your returns are extraordinary with performances like that where you are making 20% weekly you must or will be on the cover of FORBES in no time. Hell you will be the riches man in the galaxy if you are not already. I applaud you sir I hope you are not over leveraging your...
20% a week, compound that you should beat Warren buffett in less than a year :-)

Hi Mr. Pip, how much do you risk per trade?
15 traders viewing now