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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

  • #16,141
  • Feb 8, 2016 9:03am Feb 8, 2016 9:03am
Mr.Pip,
Order flow video is excellent. Structure analysis + order flow = is just amazing. Thanks
  • #16,142
  • Feb 8, 2016 9:44am Feb 8, 2016 9:44am
Quoting Mr. Pip
{quote} I'm very please that you are seeing the chart with a better set of eyeballs. Now to your question. Don't feel like you need to complete matters. All you need is for price to have made a NSH or a NSL to develop your next expectation. As far as the order flow is concerned you don't have to go much farther back either. If you want to be more thorough you would want to assess the order flow from the beginning of that trend. I don't worry too much about the extended past and process what I can see on my chart. I hope this answers your question....

Thank you for the answer !it's just a bit tricky sometimes,but you are helping a lot
Now practice time
learn more , earn more
  • #16,143
  • Feb 8, 2016 9:59am Feb 8, 2016 9:59am
Quoting Mr_Burns
{quote} It's flattering to call me a mentor but im just a fellow student like you Yes, there might be a clear swing prior to the one we start at (in fact it most definetly will be) but I only focus on identifying a clear swing and go from there. So to answer your question, no I don't look for anything apart from a clear high/low. If Im wrong, please correct me.

Why not flattering others??it makes feel good..even those who have a ''you are wasting our time with your questions'' style.So i am happy that you are flattered even though you are not a mentor but a fellow student like me.

Anyway ,thanx for your answer,i appreciate your help
learn more , earn more
  • #16,144
  • Feb 8, 2016 10:19am Feb 8, 2016 10:19am

Oh Man !
48 unread posts in less than 24 hours ???

That's hard to follow for a worker
Not for me, I'm afraid.

Ok, just a short relax pause to look at Euro Usd (as this is the Forex cross asked to post only)

I didn't trade (no way with my job for now, if not Daily, H4 and so on..)

I look for other things too, but they will come later, I am sure.

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  • #16,145
  • Feb 8, 2016 10:21am Feb 8, 2016 10:21am
Quoting Mr. Pip
{quote} Excellent! How does it feel to be able to see this without any indicator? How free and powerful do you feel?
A lot, for sure !

I abandoned them already since a while...

That's when the Sea gets calm and you can clearly look at its waves !
  • #16,146
  • Feb 8, 2016 10:37am Feb 8, 2016 10:37am
Quoting beepbop2015
{quote} Thanks so much for being willing to talk this through with me! To be honest it's a significant area of my trading that I have yet to fully figure out and that often causes me a bit of headache. I've tended to overestimate how much I have time for things, and even to multi task watching the charts with other responsibilities, which has tended not to go well because I get frustrated at the interruptions and then when I am trading it's stressful because I feel rushed and that leads to mistakes. So, that is why I stopped trying to be an intraday...
Hello Beepbop,

Well I think you might be more of a swing trader but my concern is that you are not giving this the space it needs in your busy life. You need to ask yourself what trading is to you and what you want to accomplish from it. If this is very important to you then set it as a priority and schedule life around it. At present you should be on the higher time frames maybe the 4H. Jumping around between time frames doesn't really work out too well it opens up the confusion box inside your head since order flow is different on each. Your targets and stops have to be realistic to the that you are doing your analysis on. What I mean is that it is completely use the 1H for analysis and see a potential setup based on the 1H chart then drop down to the 15M enter based on that and have stops based on 15M structure or order flow. Does this make sense to you?

You can't multitask here to need to be completely focused on what you are doing remember capital is at steak and pulling that trigger is a serious responsibility. I hope that helps.
If you fail to plan, you plan to fail.
  • #16,147
  • Feb 8, 2016 10:40am Feb 8, 2016 10:40am
Quoting DizzleFX
Below is the EURUSD on 5M. We have been looking at this same chart but on the M15. Please let me know if any of my interpretation is wrong. Thanks. {image}
It is not wrong. Once you get good at this you will know immediately when price is doing something it is not expected to do.
If you fail to plan, you plan to fail.
  • #16,148
  • Feb 8, 2016 10:40am Feb 8, 2016 10:40am
Quoting paren
Mr.Pip, Order flow video is excellent. Structure analysis + order flow = is just amazing. Thanks
Excellent glad to hear that!
If you fail to plan, you plan to fail.
  • #16,149
  • Feb 8, 2016 10:46am Feb 8, 2016 10:46am
Hi everyone

Been away this past few days and i see i have alot of catching up to do.

Time to put in the hours and learn.

Will post some charts once i have them ready.

Thanks again Mr.Pip for sharing your knowledge.

Asmodai
  • #16,150
  • Feb 8, 2016 2:16pm Feb 8, 2016 2:16pm
Quoting Mr. Pip
{quote} Hello Beepbop, Well I think you might be more of a swing trader but my concern is that you are not giving this the space it needs in your busy life. You need to ask yourself what trading is to you and what you want to accomplish from it. If this is very important to you then set it as a priority and schedule life around it. At present you should be on the higher time frames maybe the 4H. Jumping around between time frames doesn't really work out too well it opens up the confusion box inside your head since order flow is different on each....
Thank you, those are some good perspectives. I do very much want to learn how to trade. In addition to the potential for income, I find it completely fascinating, especially the style you are teaching here, so it seems it would be foolish not to develop the skill. But I agree that my somewhat chaotic endeavors in that direction are not sustainable and probably not doing me any favors (although on the bright side, I have been profitable three out of the last four weeks. . .). Well, you have convinced me to close the windows on those fifteen minute charts. And I'm going to give serious thought to switching to the four hour and see if that helps. Focus matters.

Thanks for the coaching!
  • #16,151
  • Feb 8, 2016 2:55pm Feb 8, 2016 2:55pm
Final 2 trades mini Dow 233

What happens when the rules not been followed, there was no point in buying after seeing such strong bear power

Second one, easy win.

Open for comments !
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  • #16,152
  • Edited 4:37pm Feb 8, 2016 3:55pm | Edited 4:37pm
Dear Mr. Pip,

i have a question in order to know if I get it right. Please apologise that I use a 5min chart of EUR/USD, but it was actually the chart which I confronted when trading.
Unfortunately, I remembered your sentence to late that we cannot expect a new NSL (Hence in order to remember I draw a "warning" triangle). I wanted to sell at A Level (box)- I paid the fine.

Now to the chart reading:
From NSH to NSL (points 1 to NSL), we see a steep harmonic and a short depth (the correction). From that we expect after point "2" a NSL.
After the NSL, the correction is going to far up (expectation failure; red line and triangle). From here we cannot expect that we will get a new NSL.

Question 1: could we expect that the "old" NSL level will be re-tested?

After the price came never below the red line (HL; "3"), we can go long for seeking a NSH (expectation is changed).
Question 2: Is this correct?

Question 3: Would you trade short from point "4" (Double top)?

Now we are expecting a HL.

Question 4: Would you trade from the HL (double bottom) ?

After the HL we expect a NSH and then a new HL.

Question 5: I was expecting an HL in the box area ("7"), since the retracement could have the same depth as the previous and this area defines a 23.6 to 38.2 (61.8 if fibo is placed on last main swing) retracement (still bullish) + structure.
Is my theoretical expectation right?

Question 6: the momentum appears to diminish. Hence it is likely that our expectation of getting a new NSH will fail. Right?

Thank you in advance for your answer.
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  • #16,153
  • Feb 8, 2016 4:43pm Feb 8, 2016 4:43pm
Hi !!
Here is my chart with my order flow analysis .
There are also some questions on the chart.
Please have a look, and let me know what do you think about my swings (if i picked up the right ones) and if i draw the depths and the projection according to our rules

p.s. don't forget to answer my questions
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learn more , earn more
  • #16,154
  • Feb 8, 2016 5:34pm Feb 8, 2016 5:34pm
DJ m15
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  • #16,155
  • Feb 8, 2016 5:50pm Feb 8, 2016 5:50pm
Practicing structure and short term order flow analysis on EUR/USD.
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  • #16,156
  • Feb 8, 2016 7:32pm Feb 8, 2016 7:32pm
Hello Traders,

I will be catching up tomorrow with the thread. I had the honor of meeting Mr. Scott Carney himself today. The pioneer of harmonics and developer of the advance patterns we trade. He actually lives about 4 miles away from me and sat with him for a few hours. We came in contact through a PM I got from a business partner of his and he got us in contact. He's really proud of the work we are doing here and the progress you all are making. Visit his site, there is lots of free things on Harmonics and check him out on Facebook he was going to mention our meetup.

I think it is a wonderful testament to what we are doing and Mr. Carney is an amazing person who also shares my vision to help traders grow. Google Scott Carney Harmonic Trader and you will find his website.
If you fail to plan, you plan to fail.
  • #16,157
  • Feb 8, 2016 8:26pm Feb 8, 2016 8:26pm
Quoting Mr. Pip
Hello Traders, I will be catching up tomorrow with the thread. I had the honor of meeting Mr. Scott Carney himself today. The pioneer of harmonics and developer of the advance patterns we trade. He actually lives about 4 miles away from me and sat with him for a few hours. We came in contact through a PM I got from a business partner of his and he got us in contact. He's really proud of the work we are doing here and the progress you all are making. Visit his site, there is lots of free things on Harmonics and check him out on Facebook he was going...
Thats freaking cool! I know you have mentioned his books several times as being a quality read and implementing some of his style into your trading. I'm sure it was probably like meeting a legend or hall-of-famer in the trading industry.
Damn The Torpedoes, Full Speed Ahead!
  • #16,158
  • Feb 8, 2016 8:28pm Feb 8, 2016 8:28pm
Quoting DizzleFX
{quote} Thats freaking cool! I know you have mentioned his books several times as being a quality read and implementing some of his style into your trading. I'm sure it was probably like meeting a legend or hall-of-famer in the trading industry.
It was a real treat, he live this stuff too like me.
If you fail to plan, you plan to fail.
  • #16,159
  • Feb 8, 2016 8:33pm Feb 8, 2016 8:33pm
​Lucky you Mr pip! I actually read both Mr Carney s books on harmonics and learned quite lot he is indeed a wealth of information,it will be an honor to meet both of you guys some days.Anyways,lets get back to topic, my question for you is do you take into consideration the length of the swing to assess the strength or the weakness of the market? Thanks again
  • #16,160
  • Feb 8, 2016 8:46pm Feb 8, 2016 8:46pm
That's amazing!

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Quoting Mr. Pip
Hello Traders, I will be catching up tomorrow with the thread. I had the honor of meeting Mr. Scott Carney himself today. The pioneer of harmonics and developer of the advance patterns we trade. He actually lives about 4 miles away from me and sat with him for a few hours. We came in contact through a PM I got from a business partner of his and he got us in contact. He's really proud of the work we are doing here and the progress you all are making. Visit his site, there is lots of free things on Harmonics and check him out on Facebook he was going...
Markets can remain irrational longer than you can remain solvent - JMK
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