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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

  • #16,821
  • Feb 22, 2016 5:30am Feb 22, 2016 5:30am
Quoting rolandW
​Currently a winning trade- 5 pips booked in on NSL... lets see how this one will go - continuation of the previous move down, so looks pretty similar... lets hope this one goes to the 161.8 extension as well! {image}
With all do respect, but i think u forget about time management, this big downward already exhausted result of london open, i think it will be wise too wait until US open, maybe we can expect better price.

Just ignore if i comment it not right.
  • #16,822
  • Feb 22, 2016 5:31am Feb 22, 2016 5:31am
Quoting rolandW
​Currently a winning trade- 5 pips booked in on NSL... lets see how this one will go - continuation of the previous move down, so looks pretty similar... lets hope this one goes to the 161.8 extension as well! {image}
I'm in a similar trade, currently have SL at BE.

Asmodai
  • #16,823
  • Feb 22, 2016 5:48am Feb 22, 2016 5:48am
Quoting tiong999
{quote} With all do respect, but i think u forget about time management, this big downward already exhausted result of london open, i think it will be wise too wait until US open, maybe we can expect better price. Just ignore if i comment it not right.
i was going to say that i didnt think that was quite true.... however, looking again at the chart, i think you are right.

My goal was a NSL, which we got, and I think the decision making process was correct, in that we would see at least a retest of the low.

To support what you said, there is weaker projection, Momentum - the price did not travel as far down (because we were already at extreme exhaustion points)although the aggresion of the move was stronger, and there was probably the same percentile depth.

I didnt think the move was over, as there is NO structure to the left of the chart, so we should be in a freefall - although the structure to the left is actually the Structure low... which is where price has stalled. (saying that it has just carried on further to the 127 extension).

Mr pip - care to comment?

Also my SL got taken out at 1.1060 for a small profit of about 3 pips (taking in account the spread)
  • #16,824
  • Feb 22, 2016 5:51am Feb 22, 2016 5:51am
Quoting rolandW
{quote} i was going to say that i didnt think that was quite true.... however, looking again at the chart, i think you are right. My goal was a NSL, which we got, and I think the decision making process was correct, in that we would see at least a retest of the low. To support what you said, there is weaker projection, Momentum - the price did not travel as far down (because we were already at extreme exhaustion points)although the aggresion of the move was stronger, and there was probably the same percentile depth. I didnt think the move was over,...
well, u are great. It's my failure to take every aspect on my mind. Congrats to both of u
  • #16,825
  • Feb 22, 2016 5:51am Feb 22, 2016 5:51am
This is how mine ended out....

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Asmodai
  • #16,826
  • Feb 22, 2016 6:05am Feb 22, 2016 6:05am
EU M5. Is it better?
regards,
cmelak
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  • #16,827
  • Feb 22, 2016 6:11am Feb 22, 2016 6:11am
Hey guys ive just started with this thread and watched the first video on structure analysis, want to say a big thanks to mr pips for everything your doing, i really believe this can lead to me making consistent profits further down the road!

Ive just done my first structure analysis, if you could take a look at it that would be much appreciated!

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  • #16,828
  • Feb 22, 2016 6:16am Feb 22, 2016 6:16am
HI guys

its my day off today so took a trade in GBPJPY earler as you can see I also use Fib retracements and targets: 1.61 about to be hit(my tp). Do you think there may be a harmonic pattern in this price move?
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  • #16,829
  • Feb 22, 2016 6:21am Feb 22, 2016 6:21am
Quoting Cmelak
EU M5. Is it better? regards, cmelak {image}
Traders choice in terms of the TF used but I'm using the M1 TF on the EURUSD currently.

If a lower TF helps you to see the expectations of price clearer then use them.

Masterrmind......... :nerd:
Master your Mind then Master your Trades
  • #16,830
  • Feb 22, 2016 6:38am Feb 22, 2016 6:38am
Hello !
My trade from today, closed lil early, before target, but 2,5% is good enough for me.
Trend, NSH - HL. 61% pull back
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Even though I walk through the darkest valley, I will fear no evil
  • #16,831
  • Feb 22, 2016 6:43am Feb 22, 2016 6:43am
I agree. IF price breaks our expectation of a NSL, this is where I would then look for price to make another attempt.
Quoting ujku80
what do expect from the market now that we (I) took a loss? it's just my thoughts, so don't follow it. ok? I'm simply trying to see if I can predict the move. {image}
Markets can remain irrational longer than you can remain solvent - JMK
  • #16,832
  • Feb 22, 2016 7:06am Feb 22, 2016 7:06am
Quoting Timwelch
I agree. IF price breaks our expectation of a NSL, this is where I would then look for price to make another attempt. {quote}
well, i doubt that market is pulling back that far as to see that zone tested today. So, i took a short now, trading the short term order flow. here it is. and another one on YM which is not going so well. let's see what happens.

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  • #16,833
  • Feb 22, 2016 7:10am Feb 22, 2016 7:10am
Quoting Cmelak
EU M5. Is it better? regards, cmelak {image}
With all my deep respect, i dont think u can't use any lower tf, but i was just notify that u too make your swing too complex which is unnecessary.

But i notice now u marked it better, but in my understanding your chart haven't yet in any complex correction situation, it simply LH. Please check Mr Pip video about complex correction, he showed perfect chart.
  • #16,834
  • Feb 22, 2016 7:10am Feb 22, 2016 7:10am
Quoting ujku80
{quote} well, i doubt that market is pulling back that far as to see that zone tested today. So, i took a short now, trading the short term order flow. here it is. and another one on YM which is not going so well. let's see what happens. {image} {image}

I have the same expectation on EURUSD....
  • #16,835
  • Feb 22, 2016 7:17am Feb 22, 2016 7:17am
Quoting ujku80
{quote} well, i doubt that market is pulling back that far as to see that zone tested today. So, i took a short now, trading the short term order flow. here it is. and another one on YM which is not going so well. let's see what happens. {image} {image}
E/U trade closed with +5 pips. didn't like price action. maybe the move has finished and we might experience a PB now. we'll see.
YM doen't look good either but I think price can still make it to test that high. i'm being aggressive with SL here too.
  • #16,836
  • Feb 22, 2016 7:19am Feb 22, 2016 7:19am
Quoting ujku80
{quote} well, i doubt that market is pulling back that far as to see that zone tested today. So, i took a short now, trading the short term order flow. here it is. and another one on YM which is not going so well. let's see what happens. {image} {image}
I am also in same trade, price shouldn't have corrected that deep is my only concern.
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  • #16,837
  • Feb 22, 2016 7:22am Feb 22, 2016 7:22am
Quoting hovedguy
{quote} I am also in same trade, price shouldn't have corrected that deep is my only concern. {image}
in honor of Scott Carney we might have a beautiful animal here: a gartley. but i don't like the momentum that price is gaining in this area, so I'll let it pass this time.
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  • #16,838
  • Feb 22, 2016 7:27am Feb 22, 2016 7:27am
Quoting hovedguy
{quote} I am also in same trade, price shouldn't have corrected that deep is my only concern. {image}
I drew a bigger swing, so it has just hit (and hopefully reacting to) the 38.2% fib... lets see if this is a turning point....
  • #16,839
  • Feb 22, 2016 7:31am Feb 22, 2016 7:31am
I took a short at the 61% retracement of this last correction. When I saw price breaking down, I got out with just a touch more than breakeven. I love getting in at wholesale. It gives me power I didn't have before, and old losses are now breakevens. ;-) Expectation is still a NSL though, until we break that last high.
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Markets can remain irrational longer than you can remain solvent - JMK
  • #16,840
  • Feb 22, 2016 7:32am Feb 22, 2016 7:32am
Quoting ujku80
{quote} in honor of Scott Carney we might have a beautiful animal here: a gartley. but i don't like the momentum that price is gaining in this area, so I'll let it pass this time. {image}
I am going for break even, it shouldn't have failed in short term order flw
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