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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

  • #18,061
  • Mar 10, 2016 8:13am Mar 10, 2016 8:13am
Am I missing something? I understand the news that made the first 168 pip swing down. I don't know what is going on right now. What news or market factor is making this huge correction the opposite way?

*168 down, then 292 back up? What???

** This is why I have the quote in my signature, it's holding very true right now.

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Markets can remain irrational longer than you can remain solvent - JMK
  • #18,062
  • Mar 10, 2016 8:16am Mar 10, 2016 8:16am
Quoting Mr. Pip
{quote} I know what you mean but at the end of the day the odds are stacked in our favor so in the long run it all works out. Identify with the types of setups that you will take and write out your trade plan. You don't have to take every correction price makes so identify which correction you are particularly interested in and put your trade plan together. If there is more risk then you would like to take but the opportunity is still good there are only three choices on how to proceed. which one you take should not be a flip of a coin it should...
Can't agree more. Don't complicate everything, just how we manage it. Play as we are a harmonic expert
  • #18,063
  • Mar 10, 2016 8:19am Mar 10, 2016 8:19am
Quoting Timwelch
Am I missing something? I understand the news that made the first 168 pip swing down. I don't know what is going on right now. What news or market factor is making this huge correction the opposite way? *168 down, then 292 back up? What??? ** This is why I have the quote in my signature, it's holding very true right now. {image}
i don't know either what news affect the new NSH. but fortunately i closed last NSL from Eu interest rate news.
  • #18,064
  • Mar 10, 2016 8:35am Mar 10, 2016 8:35am
Quoting Timwelch
Am I missing something? I understand the news that made the first 168 pip swing down. I don't know what is going on right now. What news or market factor is making this huge correction the opposite way? *168 down, then 292 back up? What??? ** This is why I have the quote in my signature, it's holding very true right now. {image}
​It's absolutely unbelievable, right?

I bet today was a bad day in general for retail traders...
  • #18,065
  • Mar 10, 2016 8:50am Mar 10, 2016 8:50am
Ciaos in the markets today crazy volatility trade with caution. be quick to take profits at the first sign of trouble. First trade +25
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If you fail to plan, you plan to fail.
  • #18,066
  • Mar 10, 2016 8:55am Mar 10, 2016 8:55am
Crazy how even in a chaotic market how Harmonics are respected.
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If you fail to plan, you plan to fail.
  • #18,067
  • Mar 10, 2016 9:06am Mar 10, 2016 9:06am
Quoting Timwelch
Am I missing something? I understand the news that made the first 168 pip swing down. I don't know what is going on right now. What news or market factor is making this huge correction the opposite way? *168 down, then 292 back up? What??? ** This is why I have the quote in my signature, it's holding very true right now. {image}
I was hit too at first but then reversed but got out at break even with the previous loss. Letting it ride would have been an additional 150pips but there is no way to know that. Usually with high impact news you'll find this same behavior over and over again..... extreme in one direction and then extreme in the next. That's why many people don't trade high impact news.

I've been hit big time by high impact news over and over but starting to get a feel for it and the flow... still it is high risk in these situations and it's usually better to wait until it heads in the "real" direction and wait for a pullback to enter with market flow.
  • #18,068
  • Mar 10, 2016 9:16am Mar 10, 2016 9:16am
Hi Guys,
Sorry for the basic question. But is the 233 tick chart pretty much equivalent to a 5 minute chart?

Regards,

S
  • #18,069
  • Mar 10, 2016 9:21am Mar 10, 2016 9:21am
Quoting specul8r
Hi Guys, Sorry for the basic question. But is the 233 tick chart pretty much equivalent to a 5 minute chart? Regards, S
Pretty close
If you fail to plan, you plan to fail.
  • #18,070
  • Mar 10, 2016 9:31am Mar 10, 2016 9:31am
Thanks Damian
  • #18,071
  • Mar 10, 2016 9:34am Mar 10, 2016 9:34am
Just took an EU trade, feedback welcome

Update: Stop moved to right under the swing to 1.1095
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  • #18,072
  • Mar 10, 2016 9:55am Mar 10, 2016 9:55am
Looking for opportunity to go short USDJPY
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  • #18,073
  • Mar 10, 2016 10:03am Mar 10, 2016 10:03am
Quoting Harmonic1976
Looking for opportunity to go short USDJPY {image}
I think the EURUSD trade looks good.

For the USDJPY, be careful as it has just gone into a support and resistance area, and i have another S/R area where you first blue box is - basically where the structure is (drawn in about 8 hours ago!). Where you have your pb area, not sure what has led you to that? is it a 1:1 harmoninc on the pb? Looks about right, and that looks to be also the 78.6%? I think it will drop a little further but go back to structure - and probably a complex correction becasue of where the structure is and also the craziness of the last few hours! Regardless of the above, it all comes back to what price tells you!
  • #18,074
  • Mar 10, 2016 10:06am Mar 10, 2016 10:06am
1st one
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  • #18,075
  • Mar 10, 2016 10:16am Mar 10, 2016 10:16am
Quoting rolandW
{quote} I think the EURUSD trade looks good. For the USDJPY, be careful as it has just gone into a support and resistance area, and i have another S/R area where you first blue box is - basically where the structure is (drawn in about 8 hours ago!). Where you have your pb area, not sure what has led you to that? is it a 1:1 harmoninc on the pb? Looks about right, and that looks to be also the 78.6%? I think it will drop a little further but go back to structure - and probably a complex correction becasue of where the structure is and also the craziness...

Good point for USDJPY, it did go a bit lower... and now is doing some choppy consolidation... probably best to avoid until swing is more clear.
  • #18,076
  • Mar 10, 2016 10:22am Mar 10, 2016 10:22am
Quoting Mr. Pip
{quote} That is correct. A complex correction was the probability. Remember also that you were looking at a long term order flow and structure expectation which gives you plenty of opportunity to take some trades in tune with immediate expectations until the immediate aligns itself with the long that you were looking to take.
In other words, because short term flow switched to down it was ok to take trades in that direction until price ended up realigning with long term view, right?
  • #18,077
  • Mar 10, 2016 10:25am Mar 10, 2016 10:25am
Then I'm wondering where I went wrong here:

- Price broke swing high (yellow dashed line) so I thought was ok to look for long as long term flow was up.
- Took 'entry' at the 50fib / structure / ~harmonic pullback
- Was looking for 1:1 but price took me out

So what did I miss here?

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  • #18,078
  • Mar 10, 2016 10:29am Mar 10, 2016 10:29am
...and the last
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  • #18,079
  • Mar 10, 2016 10:35am Mar 10, 2016 10:35am
Quoting hovedguy
...and the last {image}
Nice trades!
  • #18,080
  • Mar 10, 2016 10:35am Mar 10, 2016 10:35am
Quoting hovedguy
...and the last {image}
Very nice work!
If you fail to plan, you plan to fail.
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