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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

  • #17,661
  • Mar 2, 2016 4:00am Mar 2, 2016 4:00am
trailing my stop according to fibo 50
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  • #17,662
  • Mar 2, 2016 4:07am Mar 2, 2016 4:07am
Quoting Trader818
Looking at the YM today, here is what I see: Projection, overall, weak as price advanced north. Momentum, as far as I can see, was pretty much even throughout and depth decreased slightly on the last leg prior to the hail mary rally before dropping to test structure lows, which then followed with price dropping like a stone likely on the back of news... So where do we go from here? Well, I believe a NSL is logical and seeing as the NSL is fairly aggressive, a weak pullback could be on the cards. The 2 structures marked on the chart is where I am...
I see the same thing as you, only that I'm focusing at the bottom zone. and note that you are looking at YM 06-16 and instead you should have YM 03-16. that's the reason why you get that large bear candle bar in the end of the chart. why not draw diagonal line on those last two swings down to check for 1/1 completion (ABCD) right at the bottom zone?
  • #17,663
  • Mar 2, 2016 4:12am Mar 2, 2016 4:12am
Quoting Cmelak
trailing my stop according to fibo 50 {image}
nice one. the chart looks similar to YM.
  • #17,664
  • Mar 2, 2016 4:43am Mar 2, 2016 4:43am
Quoting ujku80
{quote} I see the same thing as you, only that I'm focusing at the bottom zone. and note that you are looking at YM 06-16 and instead you should have YM 03-16. that's the reason why you get that large bear candle bar in the end of the chart. why not draw diagonal line on those last two swings down to check for 1/1 completion (ABCD) right at the bottom zone?
Hi,

Yes as I posted the chart, I noticed my mistake regarding the swing drawing. Not sure what you mean by the dates though?
  • #17,665
  • Mar 2, 2016 4:43am Mar 2, 2016 4:43am
Just finished watching the rest of the videos.... Awesome stuff.

Mr.Pip, we cant thank you enough for the time you are dedicating to teaching us.

I cant watch the livestream, have to work at that time. Tried to get the day off but couldnt.
Its great that you do the livestream on youtube so we can watch it later.

Asmodai
  • #17,666
  • Mar 2, 2016 4:47am Mar 2, 2016 4:47am
Hi all,

Whilst studying this method, I managed to take this beauty of a short on the EU. I entered at point 1 on the bearish candle followed by the selling wick at the LH at structure with 61.8% Fib confluence (around 12 points). I placed my stop just above the bearish wick on this one and trailed my stop as per Damian's teaching and also took small structure into consideration. As you can see, I was taken out at point 2 on the 38.2% Fibo retracement for 66 points.

Just goes to show how effective this method is!
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  • #17,667
  • Edited 5:43am Mar 2, 2016 5:14am | Edited 5:43am
Quoting ujku80
{quote} nice one. the chart looks similar to YM.
thanks and yes ujku i am trading US30 index which supposed to be similar to YM on futures via FXCM MT4 and also trying to make 233 tick chart in mt4 platform on my vps with good success.
But i am starting to like more and more ninjatrader enviroment. I am newbie with this platform and brokers (their account conditions, data feed etc.).
BTW 127 extension is behind us looking for an extension profits on this trade lol
and also cannot wait for streaming super truper video from Mr. Pip


update: stopped out at +45 points, next trade please
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  • #17,668
  • Mar 2, 2016 6:33am Mar 2, 2016 6:33am
Quoting Trader818
Hi Damian, Great videos by the way! I have a question if that is ok... Around 10:00 in the trade management video, you took a short without making a NSL I think as price tested the lows and you believed it to be weak from a bullish standpoint, hence the short. Is this something you do often, or do you usually wait for a NSL to form beforehand? Also, regarding structure analysis (see attached chart), I am a little unsure as to whether this would be a NSH here? At point 1 I marked the candle body and price to the right closed above it, yet at point...
If the weakness looks good and momentum is strong with the opposing force I may take the risk. I prefer to wait for the NSL.

Technically we did get a NSH but we got 0 projection so I would put little to no value on that. We look at the closes to determine NSH or NSL
If you fail to plan, you plan to fail.
  • #17,669
  • Mar 2, 2016 6:35am Mar 2, 2016 6:35am
Quoting Trader818
Hi all, Whilst studying this method, I managed to take this beauty of a short on the EU. I entered at point 1 on the bearish candle followed by the selling wick at the LH at structure with 61.8% Fib confluence (around 12 points). I placed my stop just above the bearish wick on this one and trailed my stop as per Damian's teaching and also took small structure into consideration. As you can see, I was taken out at point 2 on the 38.2% Fibo retracement for 66 points. Just goes to show how effective this method is! {image}
If you fail to plan, you plan to fail.
  • #17,670
  • Mar 2, 2016 6:47am Mar 2, 2016 6:47am
Well Traders, today is the day we try to live stream my trading session. I will be posting that link around 0900 in about 1 hr 20 min I wanted to get up and going around that time to make sure all work and give whoever wants to join the time necessary to do whatever needs to be done on your end to view the stream. This is the first time I will stream through Youtube so please don't ask me technical questions. Get on at 9 so you can have time to troubleshoot if needed. You can also ask questions via chat.

I'm excited and looking forward to the session and sharing this experience with you all.

Our goals are to process the chart by the lessons I've shown you. To maintain situational awareness. To maintain discipline and follow the trade plan. To trade in the direction of strength and away from weakness. To be profitable.
If you fail to plan, you plan to fail.
  • #17,671
  • Mar 2, 2016 6:51am Mar 2, 2016 6:51am
Quoting Mr. Pip
Well Traders, today is the day we try to live stream my trading session. I will be posting that link around 0900 in about 1 hr 20 min I wanted to get up and going around that time to make sure all work and give whoever wants to join the time necessary to do whatever needs to be done on your end to view the stream. This is the first time I will stream through Youtube so please don't ask me technical questions. Get on at 9 so you can have time to troubleshoot if needed. You can also ask questions via chat. I'm excited and looking forward to the session...
  • #17,672
  • Mar 2, 2016 6:59am Mar 2, 2016 6:59am
Quoting Mr. Pip
Well Traders, today is the day we try to live stream my trading session. I will be posting that link around 0900 in about 1 hr 20 min I wanted to get up and going around that time to make sure all work and give whoever wants to join the time necessary to do whatever needs to be done on your end to view the stream. This is the first time I will stream through Youtube so please don't ask me technical questions. Get on at 9 so you can have time to troubleshoot if needed. You can also ask questions via chat. I'm excited and looking forward to the session...
Great stuff!

Looking forward to it!

Thanks for the replies above Damien, much appreciated.
  • #17,673
  • Mar 2, 2016 7:09am Mar 2, 2016 7:09am
YESSSSSS!!!

Quoting Mr. Pip
Well Traders, today is the day we try to live stream my trading session. I will be posting that link around 0900 in about 1 hr 20 min I wanted to get up and going around that time to make sure all work and give whoever wants to join the time necessary to do whatever needs to be done on your end to view the stream. This is the first time I will stream through Youtube so please don't ask me technical questions. Get on at 9 so you can have time to troubleshoot if needed. You can also ask questions via chat. I'm excited and looking forward to the session...
Markets can remain irrational longer than you can remain solvent - JMK
  • #17,674
  • Mar 2, 2016 7:10am Mar 2, 2016 7:10am
Quoting Trader818
{quote} Great stuff! Looking forward to it! Thanks for the replies above Damien, much appreciated.
You bet!
If you fail to plan, you plan to fail.
  • #17,675
  • Mar 2, 2016 7:13am Mar 2, 2016 7:13am
Non-Farm news about to hit (8:30am). Sitting back with some popcorn to watch the chaos ensue for a few minutes.
Markets can remain irrational longer than you can remain solvent - JMK
  • #17,676
  • Mar 2, 2016 7:18am Mar 2, 2016 7:18am
Quoting Timwelch
Non-Farm news about to hit (8:30am). Sitting back with some popcorn to watch the chaos ensue for a few minutes.
lol
crappy movements around this area of interest, still expecting NSL
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  • #17,677
  • Mar 2, 2016 7:19am Mar 2, 2016 7:19am
Quoting Timwelch
Non-Farm news about to hit (8:30am). Sitting back with some popcorn to watch the chaos ensue for a few minutes.
It's at 0815, Friday is the big boy @0830. First Friday of every month sometime they move to the second.
If you fail to plan, you plan to fail.
  • #17,678
  • Mar 2, 2016 7:24am Mar 2, 2016 7:24am
@cmelak: I know it is against the normal expectation, but i expect a big move up (i will not trade it)
  • #17,679
  • Mar 2, 2016 7:26am Mar 2, 2016 7:26am
Quoting evocpr19
@cmelak: I know it is against the normal expectation, but i expect a big move up (i will not trade it)
ok we will see. when it will create on my chart failure of NSL and NSH appears then i will wait for correction into the zone to take a buy trade
  • #17,680
  • Mar 2, 2016 7:32am Mar 2, 2016 7:32am
@cmelak: forget what i said, we are in 70% cases. Hence, looking for NSL
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