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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

  • #15,501
  • Jan 27, 2016 9:29am Jan 27, 2016 9:29am
Quoting lithium1
But look like a Gartley setup in higher timeframe? How do you trade this trade? Long or short? {image}
This is an AB=cd it broke the intraday high of 1.0900 and was immediatly rejected but maybe better to wait till after FOMC .
It is after the fact and i would only trade it with a very tight stop. Normally I would expect a test of the 1.0920 high.
But this is not according the teaching of Mr Pip.
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  • #15,502
  • Jan 27, 2016 9:36am Jan 27, 2016 9:36am
And this I see on the 5min Euro.
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  • #15,503
  • Jan 27, 2016 9:39am Jan 27, 2016 9:39am
that means you are trading against the order flow?
  • #15,504
  • Jan 27, 2016 9:43am Jan 27, 2016 9:43am
Quoting lithium1
Is this a long setup for EURUSD following order flow? {image}

Hi Lithium

I shorted this one, ABCD pattern, point C was at 61.8% and planned to short at 127% of leg AB as per text book. Plus for confluence, there were two structures back to back (the one can be seen but the previous one is at the blue line) If you notice, the momentum was decreasing till the last drawn arrow, but at NY open it spiked up and hit the entry zone (may be I am wrong, but the engulfing candle was looking very odd to me).

The reason I posted, is to get the opinion of you all Thanks for your comment
  • #15,505
  • Jan 27, 2016 9:47am Jan 27, 2016 9:47am
Quoting lithium1
that means you are trading against the order flow?
Possibly , but again on FOMC and NFP days mostly the market finds an equilibrium in the range , it can be awide range but still a range , so on these days orderflow before the news realease is just stoploss hunting.
But we had a fierce rejection of that ab = cd . My stop now at 1.0877
Wonder what Me Pip says about these days
  • #15,506
  • Jan 27, 2016 9:50am Jan 27, 2016 9:50am
Quoting c49
{quote} This is an AB=cd it broke the intraday high of 1.0900 and was immediatly rejected but maybe better to wait till after FOMC . It is after the fact and i would only trade it with a very tight stop. Normally I would expect a test of the 1.0920 high. But this is not according the teaching of Mr Pip. {image}
Hi C49

Do you mean the Classic ABCD pattern reversal at D is not advised or poses high risk? Do we only trade at point C as 'C aggressive entry' ?
  • #15,507
  • Jan 27, 2016 9:56am Jan 27, 2016 9:56am
Quoting hovedguy
{quote} Hi C49 Do you mean the Classic ABCD pattern reversal at D is not advised or poses high risk? Do we only trade at point C as 'C aggressive entry' ?
No I mean this specific AB = CD ( 15 min) with just a higher intraday top above it , looks to me risky . On the 5 min I see the big rejection of that smaller AB = CD (wich was exactly to the pip) and since the stop was very small and normal rangetrading on these days I took it
  • #15,508
  • Jan 27, 2016 10:03am Jan 27, 2016 10:03am
See how clever these London Banktraders are.
They break Market Structure by a little then push the market up to take out the stops resting just above the Londen Opening then revisit the Market structure swing around that level a little and bang go for the stops at the lowEnd.
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  • #15,509
  • Jan 27, 2016 10:41am Jan 27, 2016 10:41am
Quoting Mack2013
{quote} Awesome video. the intro looked very professional. had to stop it to go get some popcorn. great job - good food for thought about relying on expectations rather then pattern completion and what to look for. I've been practicing with increasing the accuracy of my expectation in order flow. I have a question on the subject of order flow. Its kind of complex and I'm not sure how to phrase the question so i'll give it a shot. Sorry if I sound . ( My questions in the post... I think the answer is practice but maybe you have...
Hey Mack,

Great question and I can see how this can become difficult or confusing. Working off of clear swing highs and lows helps with this issue. Until that high or low is broken the expectation stays the same. Any smaller swing within that high and low is what should be considered a complex correction. But your expectation needs to remain the same until a close outside that swing is achieved. Let me know if this is clear or I need to provide a chart for a visual.
If you fail to plan, you plan to fail.
  • #15,510
  • Jan 27, 2016 10:44am Jan 27, 2016 10:44am
Quoting c49
Symmetrie at work in the cable , since London open market goes in an orderly manner downwards , no acceleration nor decelaration in price , as we can expect on FOMC days. The market took out the first stop lecvel and for now failed to take out the second one , maybe change in direction. I dont trade on FOMC days , so gives me time to post something. {image}
Love Harmonics. True Harmonics not just patterns.
If you fail to plan, you plan to fail.
  • #15,511
  • Jan 27, 2016 10:49am Jan 27, 2016 10:49am
Quoting lithium1
Hi Mr. Pip, I'm trying to read orderflow like you do, am I marking it correctly? {image}
The beauty is that it doesn't matter where you start or how detailed you get on the swings you will always end up in the same place. The difference in the short term order flow you will have more failure but they will lead you to the longer term order flow. It doesn't mean that they are less dependable, you just have more frequency. I use clear highs and lows and also use the short term order flow to confirm the long.
If you fail to plan, you plan to fail.
  • #15,512
  • Jan 27, 2016 10:51am Jan 27, 2016 10:51am
Quoting devontrader
Not bad but you got a lot of nsl when i think they are LL Im sure.mr pips.or.someone will clarify the rule for.a.nsh For expectations we are looking to go beyond the previous high or low
No need to complicate the terminology a LL is a NSL its easier to work less then with more.
If you fail to plan, you plan to fail.
  • #15,513
  • Jan 27, 2016 10:54am Jan 27, 2016 10:54am
Quoting Aj1
{quote} Hello Lithium Try not to take every little swing in to consideration. On a 5 min chart look for swings for about 30 pip range. And take clear HI/LO's. Hope this helps. {image}
Careful, a little sloppy in your labeling. Keep the integrity intact. When labeling swings make sure you are using the highest and lowest points to identify your swings.
If you fail to plan, you plan to fail.
  • #15,514
  • Jan 27, 2016 10:54am Jan 27, 2016 10:54am
Quoting lithium1
{quote} I thought LL = NSL, because I don't see Mr. Pip marking any LL as well?
If you fail to plan, you plan to fail.
  • #15,515
  • Jan 27, 2016 10:55am Jan 27, 2016 10:55am
Quoting lithium1
{quote} Aj1, for short setup, means after NSL-LH-NSL, try to short the next LH right? Is that the idea of following orderflow?
That's it you got it.
If you fail to plan, you plan to fail.
  • #15,516
  • Jan 27, 2016 10:58am Jan 27, 2016 10:58am
Quoting lithium1
But look like a Gartley setup in higher timeframe? How do you trade this trade? Long or short? {image}
Order flow is with the bulls.
If you fail to plan, you plan to fail.
  • #15,517
  • Jan 27, 2016 12:04pm Jan 27, 2016 12:04pm
Quoting Mr. Pip
{quote} Love Harmonics. True Harmonics not just patterns.
Yeah, its the bread and butter of the market . look at all these symmetrical waves in The CAC40.
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  • #15,518
  • Jan 27, 2016 12:11pm Jan 27, 2016 12:11pm
Quoting Mr. Pip
{quote} Hey Mack, Great question and I can see how this can become difficult or confusing. Working off of clear swing highs and lows helps with this issue. Until that high or low is broken the expectation stays the same. Any smaller swing within that high and low is what should be considered a complex correction. But your expectation needs to remain the same until a close outside that swing is achieved. Let me know if this is clear or I need to provide a chart for a visual.
Perfectly clear. Thanks. I'll keep practicing
  • #15,519
  • Jan 27, 2016 12:14pm Jan 27, 2016 12:14pm
Hello, I am very new to harmonic trading, i have recently read Harmonic Trading from Scott M. Carney. After drawing out some patterns I found the following on the EURAUD 4H charts, according to the book it is a Perfect Butterfly Pattern. It has already given profit up to the 50%. At the moment for me it looks like it is trying to retest and look for yet another reversal. What would you say are signs of this happening? And do you think it would be a good idea to enter a trade after the TP was already hit once ?

Thank you in advance
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  • #15,520
  • Jan 27, 2016 1:49pm Jan 27, 2016 1:49pm
Quoting Skalgg
Hello, I am very new to harmonic trading, i have recently read Harmonic Trading from Scott M. Carney. After drawing out some patterns I found the following on the EURAUD 4H charts, according to the book it is a Perfect Butterfly Pattern. It has already given profit up to the 50%. At the moment for me it looks like it is trying to retest and look for yet another reversal. What would you say are signs of this happening? And do you think it would be a good idea to enter a trade after the TP was already hit once ? Thank you in advance {image}
It looks like the sellers are in charge and I would not seek anything long.
If you fail to plan, you plan to fail.
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