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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

  • #15,941
  • Feb 4, 2016 7:23am Feb 4, 2016 7:23am
Quoting GnG
Hi Damian,you r doing a fantastic work! I saw your last video (Trading Structure Analysis) and at the beginning (~3.05 min)you said that ''we have to recognize that in this particular area ... we have an area of supply''.BUt from the other side of the blue box, couldn't we have said that the bulls have been able to overpower the bears so we have an area of support..?? ..so my question is what exactly did you see and you said at the beginning, that ''our expectation is not a NSH but we are looking to short the market.Why you focused on the resistance...
Great questions, Yes there was an equal area of demand below where you suggest. My expectation at that point was for price to make a NSL because that bulls had failed to make that NSH on varying attempts and the bears were able to make a NSL so from there the expectation was for a LH and then another NSL. Overall it was a very complex area in general but that's where I stopped and that's what I had to work with. I don't believe in cherry picking charts that's not fair to you all and an unrealistic approach. I'm glad it was complex as it gives you all an even better assessment of how powerful this really is.

I focused on the resistance aspect of the chart because the bulls just failed on the expectation and the bears established theirs.
If you fail to plan, you plan to fail.
  • #15,942
  • Feb 4, 2016 7:24am Feb 4, 2016 7:24am
Quoting Bary
{quote} The swings are identical on the 15M chart. You might see a difference on a tick chart because of the different data feeds although on my charts they look the same. Either way you have to read/trade the chart that's in front of you.
100% correct! Trade what's in front of you.
If you fail to plan, you plan to fail.
  • #15,943
  • Feb 4, 2016 7:27am Feb 4, 2016 7:27am
Quoting ujku80
{quote} hehe. they are greedy bastards not being satisfied with their fat commissions but in addition need to put their dirty hands in traders pockets. I'm so happy I switched to futures. Although there is one problem for those who don't have enough capital; you can't trade less than a contract (almost equivalent to a lot).
Depends on the broker you choose. It's true you can't trade less then a contract but margin requirements change between brokers and intraday margins are affordable for traders. You should have better leverage then FX and pricing. I pay way less in futures then I ever did in FX
If you fail to plan, you plan to fail.
  • #15,944
  • Feb 4, 2016 7:27am Feb 4, 2016 7:27am
Quoting Bary
{quote} GM Mr Pip. Thanks for another great video. Your time is appreciated! It certainly shows how this structure analysis can work. I to have trouble with trade management but am working on that and look forward to that portion of the training. I also have noticed some traders having a little trouble with those complex corrections. I had pointed some out in a previous post. As you have said those small swings don't change our expectation but can give us a hint to the probability of failure.
I think the traders are having difficulty because when they are looking at the chart live, every little correction, is being labelled.

As Damian has pointed out, if you look at every little swing you are going to drive yourself crazy, stick to clear highs and clear lows.


Aj1
  • #15,945
  • Feb 4, 2016 7:31am Feb 4, 2016 7:31am
Quoting Bary
{quote} GM Mr Pip. Thanks for another great video. Your time is appreciated! It certainly shows how this structure analysis can work. I to have trouble with trade management but am working on that and look forward to that portion of the training. I also have noticed some traders having a little trouble with those complex corrections. I had pointed some out in a previous post. As you have said those small swings don't change our expectation but can give us a hint to the probability of failure.
Excellent point Barry. I always say to hold price accountable to that expectation until it fails. I completely the issues with complex corrections. That's way I wanted a week of practice before we moved on. Practice, practice and some more practice will make all the difference.
If you fail to plan, you plan to fail.
  • #15,946
  • Feb 4, 2016 7:32am Feb 4, 2016 7:32am
Quoting Aj1
{quote} I think the traders are having difficulty because when they are looking at the chart live, every little correction, is being labelled. As Damian has pointed out, if you look at every little swing you are going to drive yourself crazy, stick to clear highs and clear lows. Aj1
AJ is on point here.
If you fail to plan, you plan to fail.
  • #15,947
  • Feb 4, 2016 7:32am Feb 4, 2016 7:32am
Quoting Mr. Pip
{quote} These are all excellent questions however lets wait till we get there to dive into it with detail so we don't fall off topic. I will however help with a broad answer to give you some guidance. {quote} Stop goes where you know you are wrong. By know you should have a pretty good idea where price could go and where it shouldn't go. {quote} It is always a good idea to remove risk at a test of structure. {quote} I'm not saying that just understand that LH and HL are corrections and have higher risk also less profit potential. The next lesson...
Thanks Mr. Pip, I think I got the idea. Will wait for the details. :-)
  • #15,948
  • Feb 4, 2016 7:37am Feb 4, 2016 7:37am
Euro Futures, 233 ticks, Heading towards TP2
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  • #15,949
  • Feb 4, 2016 7:39am Feb 4, 2016 7:39am
Quoting hovedguy
Euro Futures, 233 ticks, Heading towards TP2 {image}
Nice work! Easy right? I don't know why traders make it do complicated?
If you fail to plan, you plan to fail.
  • #15,950
  • Feb 4, 2016 7:42am Feb 4, 2016 7:42am
I can't find any trade setup for EURUSD and Dow at the moment. But I want to practice trading with structure analysis, so I found a setup on GBPUSD. Sorry in advance for posting GBPUSD chart. Wish to hear some comments thou. A NSL done, follow by the retest, so RR is quite good.
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  • #15,951
  • Feb 4, 2016 7:43am Feb 4, 2016 7:43am
Thanks Damian. Enjoyed the video. Very methodical.
  • #15,952
  • Feb 4, 2016 7:52am Feb 4, 2016 7:52am
Quoting Mr. Pip
{quote} I pay way less in futures then I ever did in FX
believe or not, I'm paying a third to what I did before. I'm simply loving it. That's another appreciation that you deserve for showing that to me. As i said before, you give us the whole package: from trading style to MM, to broker and platform. Just everything a novice trader and not only needs to know. Period!
  • #15,953
  • Feb 4, 2016 7:53am Feb 4, 2016 7:53am
Okay Traders, I'm going to grab a snack before my session. I will com back after to catch up and post. Keep it up! I want this thread to be the best thread ever. I want to see hundreds of traders here posting and learning. You will not see this anywhere and I'm on a mission to change the statistics.
If you fail to plan, you plan to fail.
  • #15,954
  • Feb 4, 2016 7:54am Feb 4, 2016 7:54am
Quoting Mr. Pip
{quote} Great questions, Yes there was an equal area of demand below where you suggest. My expectation at that point was for price to make a NSL because that bulls had failed to make that NSH on varying attempts and the bears were able to make a NSL so from there the expectation was for a LH and then another NSL. Overall it was a very complex area in general but that's where I stopped and that's what I had to work with. I don't believe in cherry picking charts that's not fair to you all and an unrealistic approach. I'm glad it was complex as it...

I got it!!!
Did i tell you that you are great??and the help you r offering is priceless??
..anyway,back to the question.
So one thing that we should look for in order to find if a level(support/resistance)will hold or not is the number of failed attempts.for example if we have a level of resistance-lets say- and the bulls hit one,two, three,... times and are rejected is an indication (there is a high probability) that this level is strong and the market will reverse.
Could you name other things that you are paying attention to in order to say that you have a strong level (support/resistance),and it is probable that this level will hold??
Sorry for insisting, but i understood from your video that this assumption (that we have an area of resistance in the blue box) was pretty important,since your analysis was based on this assumption..
learn more , earn more
  • #15,955
  • Feb 4, 2016 7:56am Feb 4, 2016 7:56am
this is what (and how) I'm looking at:
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  • #15,956
  • Edited 8:10am Feb 4, 2016 8:00am | Edited 8:10am
Quoting Mr. Pip
{quote} Nice work! Easy right? I don't know why traders make it do complicated?
All credit goes to you, Thank you !!

Not sure if I am getting lucky for couple of times but win is win

Could you please clarify one thing in the pic. Will you buy at some bullish evidence in the marked are as

- The major expectation in bullish
-in short term it will make a NSH and the previous major support has been tested thrice

Regards
Hoved

EDIT - Couple of minutes later sold there
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  • #15,957
  • Edited 8:37am Feb 4, 2016 8:14am | Edited 8:37am
Quoting Mr. Pip
{quote} Let me give you all a visual of what I mean. {image}
Mr. Pip, thank you for the new video and your guidance.

I still have a question. How do you define whether there is a complex correction or not? Is it that the price is ranging around the HL/LH area without a clear decision in which direction it wants to go?
  • #15,958
  • Feb 4, 2016 8:48am Feb 4, 2016 8:48am
Entry was quite late, but RR is still good, so just go ahead.
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  • #15,959
  • Edited 10:49am Feb 4, 2016 10:10am | Edited 10:49am
Euro 233 tick, Sold !! let me know what you all think.... and please keep posting your entries too

Stopped out
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  • #15,960
  • Feb 4, 2016 10:12am Feb 4, 2016 10:12am
Quoting mci
{quote} Mr. Pip, thank you for the new video and your guidance. I still have a question. How do you define whether there is a complex correction or not? Is it that the price is ranging around the HL/LH area without a clear decision in which direction it wants to go?
A complex correction is when PA is making smaller swings within a NSH/NSL and HL/LH larger swing. Look at post 15797 (gray boxes) and 15934 (oval). These are examples.
Barry
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