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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

  • #16,581
  • Edited 10:57pm Feb 17, 2016 9:33pm | Edited 10:57pm
You're right, I'm looking at a counter trend trade at the potential exhaustion point in the blue area. This trade idea is against going with the flow. Going with the flow ( trading in line with structure and order flow) has netted me positive pips over the last few days.

I don't think it's against the methodology that is taught (went over the first 110 pages of this thread last week).. but it is not in line with the current flow per say. Sometimes it's difficult to forget everything you have learned and focus on just a few things.

But one thing is for sure, focusing strictly on expectation/order flow has netted positive pips consistently so far whereas my previous trading was a consistent negative pips.
  • #16,582
  • Feb 17, 2016 9:36pm Feb 17, 2016 9:36pm
Rock on! I'm not there yet with the exhaustion points and patterns yet. :-)

Quoting Harmonic1976
You're right, I'm looking at a counter trend trade at the potential exhaustion point in the blue area. This is against going with the flow that has netted me positive pips from the last few days trading in line with structure and order flow. I don't think it's against the methodology that is taught (went over the first 110 pages of this thread last week).. but it is not in line with the current flow per say. Sometimes it's difficult to forget everything you have learned and focus on just a few things. But one thing is for sure, focusing strictly...
Markets can remain irrational longer than you can remain solvent - JMK
  • #16,583
  • Feb 17, 2016 9:37pm Feb 17, 2016 9:37pm
What are your thoughts on this trade that I'm scaling into, it had a strong move that is a gigantic momentum bullish bar. It clearly is a NSH and I'm scaling in on the pullback with a target at the 1.27 extension which is less than a 1:1 expectancy.

I went long on the shallow internal projection that was going on since this hinted that the pullback was weakening.
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  • #16,584
  • Feb 17, 2016 10:09pm Feb 17, 2016 10:09pm
Here were my thoughts for taking the trade
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  • #16,585
  • Feb 17, 2016 10:39pm Feb 17, 2016 10:39pm
Will check back on it tomorrow to see if it met expectation and also to check out how usdjpy did, about to go to bed soon so closed out with +20pips profit. +48 pips for the day, 100% win. Mr. Pip is changing the story for the better
  • #16,586
  • Feb 18, 2016 1:55am Feb 18, 2016 1:55am
Quoting Mack2013
{quote} Nice read. good job
thx Mack
here is what I think for the near future of this pair:
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  • #16,587
  • Feb 18, 2016 2:04am Feb 18, 2016 2:04am
i came late and didn't catch this down swing. And I don't chase market. So, let's see if I get a better entry short somewhere at the zone. it's quite possible that market pulls back at the area again just to take SL out and head south with strength. let's see.
  • #16,588
  • Feb 18, 2016 2:28am Feb 18, 2016 2:28am
Quoting ujku80
i came late and didn't catch this down swing. And I don't chase market. So, let's see if I get a better entry short somewhere at the zone. it's quite possible that market pulls back at the area again just to take SL out and head south with strength. let's see.

Hi Arjan

I have totally opposite expectation than yours
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  • #16,589
  • Feb 18, 2016 2:32am Feb 18, 2016 2:32am
Quoting Harmonic1976
Good Day Mr. Pip, I'm having a hard time determining if something is a complex correction or a new structure high/low. When do you determine if it is an actual new structure high/low? and when is it a complex correction??? Is this just ranging and that's why it's so difficult to label the structure properly? {image}
if I may answer to your question. (Although you'd probably wait Damian for a confirmation).
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  • #16,590
  • Feb 18, 2016 2:36am Feb 18, 2016 2:36am
Quoting hovedguy
{quote} Hi Arjan I have totally opposite expectation than yours {image}
yeah , I know what you mean. I'm also looking like that. I also have this in mind. a complete opposite to what I thought before.
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  • #16,591
  • Feb 18, 2016 2:38am Feb 18, 2016 2:38am
but the fact is that before that LH at 1.1186 my chart is not taken out, I wouldn't consider trend change yet. a simple as that. So, maybe better to stay aside and wait a bit ....
  • #16,592
  • Feb 18, 2016 2:41am Feb 18, 2016 2:41am
and looking at what is going on with the chart right now, is that most of the traders (including those wall street fat cats) haven't made up their mind whether to enter long or short yet...
  • #16,593
  • Feb 18, 2016 2:42am Feb 18, 2016 2:42am
Quoting ujku80
{quote} yeah , I know what you mean. I'm also looking like that. I also have this in mind. a complete opposite to what I thought before. {image}
Yea, it happens when there is no clear trend. I should avoid ranging market like this.
  • #16,594
  • Feb 18, 2016 2:53am Feb 18, 2016 2:53am
Quoting ujku80
{quote} yeah , I know what you mean. I'm also looking like that. I also have this in mind. a complete opposite to what I thought before. {image}

What you are seeing, on this chart, is Institutions Accumulating Orders that's why there is no clear direction.

You need to look at the bigger picture.
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  • #16,595
  • Feb 18, 2016 2:58am Feb 18, 2016 2:58am
Quoting ujku80
and looking at what is going on with the chart right now, is that most of the traders (including those wall street fat cats) haven't made up their mind whether to enter long or short yet...

I was wrong, I haven't seen it from harmonic perspective.
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  • #16,596
  • Feb 18, 2016 3:08am Feb 18, 2016 3:08am
Quoting stevepatt
{quote} What you are seeing, on this chart, is Institutions Accumulating Orders that's why there is no clear direction. You need to look at the bigger picture. {image}
  • #16,597
  • Feb 18, 2016 3:46am Feb 18, 2016 3:46am
Quoting Harmonic1976
What are your thoughts on this trade that I'm scaling into, it had a strong move that is a gigantic momentum bullish bar. It clearly is a NSH and I'm scaling in on the pullback with a target at the 1.27 extension which is less than a 1:1 expectancy. I went long on the shallow internal projection that was going on since this hinted that the pullback was weakening. {image}
correct me if im wrong, you were using fib. expansion not extension. On marketscope FXCM there is no fib. extension tool, but as long as i know the extension of 1.272 is equal by -0.272 fib. retracement. Just in my opinion
Less tools, more clear to see
  • #16,598
  • Feb 18, 2016 4:12am Feb 18, 2016 4:12am
Quoting stevepatt
{quote} What you are seeing, on this chart, is Institutions Accumulating Orders that's why there is no clear direction. You need to look at the bigger picture. {image}
yeah it's great that you pointed it out. We are in an important area. And it's quite probable that price will turn here. I also like that "rounding" of the price as it approaches the zone as it usually means that market is changing directions. So, it's good to be aware of. But, like I said, let's wait until price takes out that high and then we could safely look for longs. I'm stepping aside today just in case.
  • #16,599
  • Feb 18, 2016 4:27am Feb 18, 2016 4:27am
Does it make any sense in shorting at the area confined by the dashed lines?
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  • #16,600
  • Feb 18, 2016 4:55am Feb 18, 2016 4:55am
Quoting hovedguy
Does it make any sense in shorting at the area confined by the dashed lines? {image}
I'm not in front of my pc now. But i wouldnt go short in that strong uptrend. If you think market is up for a move down then wait, calculate to where it may stopp and look for longs afterthat. Just my thoughts here.
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