Ratios & Harmonics: a Different Way to Trade

afternoon traders, been a while since i posted, but got some time to trade today, here's my first trade.
ended up -8 pips

reasons for entry,

expectation was a nsh
was looking for price to pull back to a mid to deep retracement,
price pulled back into previous structure
strong momentum overall from the bulls
bar by bar

entry at purple arrow.

dotted lines are short term order flow

Attempted a countertrend trade, didn't like the way it was acting so closed out of trade with a small profit only to have it dump seconds later. Lesson learned.

I also hesitated on the entry which caused me to get less-than-optimal trade price.

Even though expectation was a NSH, 2nd leg momentum was slowed way down. Took the 61.8 / structure short. I was not looking for a NSL on this trade, but to aggressively manage it to the opposing 61.8 which it did get to.

My situation looking for short entry in blue box.

And i missed it =/

Tricky day here for me. Expectation is still NSH but making NSL's and NSH's in the short term.

Going to SOH and wait for more info on who wants to take control here.

Yes tricky day

3 losses
1 win

-42 ticks for the day im done and will review my trades later today

Had a great counter trend setup on GU. Made a very weak NSL. Saw lot's of weakness on the bears. 1-2-3 setup. Managed aggressively for +20.

2 YM trades.

Tried shorting structure but I took a loss of 11pts however I reversed long and made back 12pts. I saw price nearing structure (cyan box) so I tightened stop.

In hindsight I read this all wrong. After price made the NSH in the cyan circle I should have been looking for the deep pullback to go long, which we got at the cyan arrow (albeit pullback was a bit deeper than would have been expected).

Ending the day up 1 YM point and .25 ES pt for a total of 1.25 pts.

Still ended the day with more fake money than I started with and was able to erase a loss so that's encouraging.

Today was definitely tricky however by marking the main swing and telling myself outloud what the expectation was I found it was much easier to recognize that it was going to be one of those tricky days. I was able to come to that realization much quicker than I normally would have which allowed me to approach the trading day better prepared.

I hope you will be posting a chart of your trades as I learn a great deal from other's experiences. I know I can't be the only one.

That Definitely helps and stops your mind from tricking you, which happens alot when trading. It helps so much to try to be as objective as possible. At least thats been my experience

Does anyone else have issues with drawings on Ninjatrader disappearing as you scroll?

Notice horizontal trendlines and supply / demand zone boxes will disappear if I scroll too far.

Wondering how to fix this.

I have never experienced this

It looks like I had them extending too far past current price because when I shortened them it stopped happening.

Oh well.

Hello everyone,

I want to thank you, Mr. Pip, and all of you other guys contributing to this wonderful thread. I have studied Price Action for some time now and I found your approach offering a ton of valuable information, mechanics and analysis techniques to help my trading. I have watched all your great videos and read some of this thread, so I know, that only EURUSD and DOW charts are allowed, but I am not sure if the same goes for timeframes? So far I saw only short timeframes 15M and below. I am trading mainly from the 4H chart and hope that is okay.

This also brings me to my first question. I trade off the 4H timeframe, to make it easier for me - more time to think about setups and enter a trade, less noise or what to me as a novice trader seems like noise - you show all of us, that you indeed can make sense of it. May I ask why you trade lower timeframes? Do you think the approach is less viable on the 4H as it is on the 233 tick chart? I can see, that you have a lot more action and this allows you to focus on one pair which could be good. Do you also think you can grow your account faster - given that one is profitable - because you must not wait so long for setups and their unfolding?

So far I understand your concepts on paper (their greatness lies in their simplicity) but performing them live is an art I have not yet mastered.

Before I get to an chart to illustrate this, I want to tell you guys, where I think my problems lie:

After having had some trouble figuring out expectation, because I got lost in the ever bigger prior move and different timeframes, I now just look at the last significant swing and try to work it out from there. I hope this is viable? I then try to only trade with this expectation and my fundamental bias.

Next step is discerning whether we are in a reversal or a pull-back. And then how deep the pull-back will go. This is very hard for me. Will price correct to the 38% Fib or 50% or 61%? Some structur in between? Or all the way down? I have gotten better at analyzing this, but am far still from half-decent.

When I decided this I look at the price action to give me an entry. This is another point where I am wondering whether I should just pull the trigger or wait for some sort of confirmation. A candle in "my direction" of course also means a worse risk-reward-ratio. So far I try to do it like Mr. Pip in his videos.

This is my EURUSD chart. Maybe you guys can tell me what you think about my 2 cents. Sorry, the chart is so messy.

https://www.tradingview.com/x/uLsDHVK7/

Price is moving up nicely with lots of momentum and big volume candles.The bears only come in weakly and can not achieve deep pull-backs. Now the last big swing, which is basically only one candle had a bearish pull-back to the 38% Fib. The current swing achieved a little less projection, so I would assume a slightly deeper correction, but it had still lots of momentum and the candles had great volume. So by just looking at this and not comparing it to the prior swing a shallow pull-back to the 38% Fib wouldalso be possible. The last HH also is a resistance in line with the long term NSH. So trading into that might be scary.

That is my last point: isn't there always some obstacles or SOME structure in the way? How to discern the meaningful ones from the weaker ones? Take the trade and manage?

I am sorry for the wall of text. I just wanted to find a way into the discussion and I hope I can give something back to you sometime soon.

Thank you for any input and I hope you can understand my english, I am not a native speaker.

I have had this happen before. It seems to occur pretty randomly. Pretty odd. Sometimes it disappears and it reappears when scrolling to a certain spot.

My trades for the day and review of them.

There were great opportunities for those who read the market correctly.

Not the big movements today.
Post my charts for the day for eurusd and gbpusd.
For Eurusd I was getting 2 losing trades for a total of -31.7 pips
For gbpusd one BE + 3.6 pips and one winner for 36.7 pips total 40.3 pips gain.
EURUSD had only 50 pips range today .
GbpUSD had in the period Europe open + US session only range 63 pips.

I do not know if I should have done something different for my eurusd trades. How it looks to me is that it just did not go my way and was two trades in the 30% category. Any other opinions here that I could have avoided this ones or seen it an other way? ( I was 2 bars late with my entry long for eur/usd because some telephones so that was 5 pips extra risk or as it became 5 pips extra loss )

I interpreted the PA differently, it looked to me that the first pullback was a higher low... but then it made a lower high and then a slightly lower low and then another lower high.... and where you have a HL, I think that is a clear NSL.

Well done, Yes it would have made a big difference if I had seen it like that some hours ago.

Thank you for this.

Haha, we tried the same short at ~11:10. I thought for sure there'd be a bigger pullback there due to the momentum the bears had on the 2 prior down swings, however in hindsight realize that momentum was negated by the bulls due to the NSH that was formed and the fact that the bulls were able to power that leg right up to test beyond the NSH. Or at least that's how I see it anyway.