Ratios & Harmonics: a Different Way to Trade | Page 922 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

Learning to trade with harmonics 11 replies

Time for Change - Pivots & Harmonics to freedom 67 replies

180 reasons to trade Harmonics and Patterns 13 replies

Group Trading based on Elliott wave and Harmonics 0 replies

Attachments: Ratios & Harmonics: a Different Way to Trade
Exit Attachments

Ratios & Harmonics: a Different Way to Trade

  • #18,421
  • Mar 21, 2016 4:16pm Mar 21, 2016 4:16pm
Mr. Pip -

Do you consider a supply / demand zone still valid even if price swings through the zone a bunch of times?

Today price did bounce off the zone but I'm not sure if validity goes out the window due to the fact that price crossed the level a lot of times.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 94 KB
  • #18,422
  • Mar 21, 2016 5:03pm Mar 21, 2016 5:03pm
Quoting stavrogijn
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...
Feel free to post any instrument and time frame. That was more in the beginning when everyone was learning the concepts. There is no such thing as noise, that is price action relevant to that time frame. Noise is what traders call price action that they don't understand. I prefer the intraday time frame because I like the faster pace and the tighter stops and the short periods of exposure. I love working a few hours and done. I'm not out somewhere wondering where the hell my trade is. Everyone is different and my approach works on any time frame or instrument.

As for growing your account quickly, use the smooth ratio formula it is very efficient. There will always be obstacles in the way of price but your expectations need to prioritize the path of price. Make sure you have room to protect your trade in case obstacles hold price. Keep it simple and trade your expectations.
If you fail to plan, you plan to fail.
  • #18,423
  • Mar 21, 2016 5:05pm Mar 21, 2016 5:05pm
Quoting jmezz
Mr. Pip - Do you consider a supply / demand zone still valid even if price swings through the zone a bunch of times? Today price did bounce off the zone but I'm not sure if validity goes out the window due to the fact that price crossed the level a lot of times. {image}
It definitely weakens the more price passes through it but price can always has a reaction to it. I always expect and area to hold unless it is attacked with alot of strength.
If you fail to plan, you plan to fail.
  • #18,424
  • Mar 21, 2016 6:03pm Mar 21, 2016 6:03pm
Quoting stavrogijn
...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.
Your english is very good and you have asked good questions. I do not trade the EUR/USD and consequently all i can share is my understanding with the benefits of hindsight so take it with a grain of salt as it is much easier to trade after the fact ;-) Anyway, i hope you'll find my explanations useful. First of all, i zoom out and try to identify the zones which stand out or where price reacted on both sides and next i try to identify strength and what appears to be weak price action before considering an opportunity. I did change the interval to a tick chart but i used a tick chart size which corresponds to the average bar range of the 4 hour timeframe. What stands out on my tick chart is the strength of price action that led to the break of resistance. After that, price made a complex pullback, two legs of about the same size to the resistance turned support. This is where you expect to see an opportunity emerged. Look how price approached this resistance turned support in comparaison to the break out that occured previously. This is what is referred to as weakness. Ideally, you want to fade this area. Any trigger would do the trick if there is no sign of strength to break the support. Many times a break of a trendline or a previous candle high for a long would be OK. You want to hold as long as possible once you are in the trade.

Here are two charts. They are both the same but one is zoomed out to show where i have drawned the zones.

Attached Image (click to enlarge)
Click to Enlarge Name: EU_snapshot1.jpg Size: 129 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EU_snapshot2.jpg Size: 146 KB
  • #18,425
  • Mar 21, 2016 6:05pm Mar 21, 2016 6:05pm
Quoting Timwelch
I use my macbook to remote connect to my trading servers. So I'm just using QuickTime to record it. If you're straight on windows, I'm not sure what the best solution would be. {quote}
Hmm. I've tried creating a video on youtube by creating a private livestream however the video comes out very choppy.

I'm going to research software this weekend.
  • #18,426
  • Mar 21, 2016 6:32pm Mar 21, 2016 6:32pm
Quoting jmezz
{quote} Hmm. I've tried creating a video on youtube by creating a private livestream however the video comes out very choppy. I'm going to research software this weekend.
I use Camtasia but it was not free a bought it because it's really great and easy to work with. They have a free trial period that you can use.
If you fail to plan, you plan to fail.
  • #18,427
  • Mar 21, 2016 6:37pm Mar 21, 2016 6:37pm
I made a video on tighter stops on the 6E which is the Euro Futures EURUSD. I picked a day at random like always and it turned out to be a complicated one with a gap to deal with so it did not give me much frequency. I will make another one on the YM at random again tomorrow and post it. I know I have been mentioning another live stream but it's spring break and my house is party central for the family kids so it's noise and tough to even work. Next week all of the monsters are back in school and we will have our live stream. The video is rendering so bare with me. It will be up soon.
If you fail to plan, you plan to fail.
  • #18,428
  • Mar 21, 2016 6:46pm Mar 21, 2016 6:46pm
Quoting heispark
NZDJPY 4H. I am in Buy position and currently -40 pips drawdown. Will it make 3 drive pattern and hit my SL? Will consider early exit if it goes below 75.50 again. Entry was awkward and I somewhat regret this trade... In fundamental perspective, commodity currencies have good demand now and BOJ may come into intervention again next week. What do you think? <4H> {image} <D1> {image}
Still survived and have another scenario... (NZDJPY 4H)
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-03-22_8-45-23.png Size: 18 KB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #18,429
  • Mar 21, 2016 6:52pm Mar 21, 2016 6:52pm
Quoting Mr. Pip
I made a video on tighter stops on the 6E which is the Euro Futures EURUSD. I picked a day at random like always and it turned out to be a complicated one with a gap to deal with so it did not give me much frequency. I will make another one on the YM at random again tomorrow and post it. I know I have been mentioning another live stream but it's spring break and my house is party central for the family kids so it's noise and tough to even work. Next week all of the monsters are back in school and we will have our live stream. The video is rendering...
Those live streams are awesome because we can step into your mind for a trading session. I also think seeing your trades are extremely helpfull. Even if its just a chart with your trades i was there in the market at that time and i can put together your reasoning for entering (most of the time anyways).
  • #18,430
  • Mar 21, 2016 7:12pm Mar 21, 2016 7:12pm
Here is the video on the tighter stops. Like I said I'll make another one tomorrow of the YM will share it with you all.

https://youtu.be/3tVi_vlxLtA
If you fail to plan, you plan to fail.
  • #18,431
  • Mar 21, 2016 7:13pm Mar 21, 2016 7:13pm
Quoting SteeP7
{quote} Those live streams are awesome because we can step into your mind for a trading session. I also think seeing your trades are extremely helpfull. Even if its just a chart with your trades i was there in the market at that time and i can put together your reasoning for entering (most of the time anyways).
Ok Thanks.
If you fail to plan, you plan to fail.
  • #18,432
  • Mar 21, 2016 7:47pm Mar 21, 2016 7:47pm
Another great video Damian

Thank you

Aj1
  • #18,433
  • Mar 22, 2016 1:47am Mar 22, 2016 1:47am
For streaming you could try out OBS Classic. https://obsproject.com
It's free and doesn't require a bad ass pc.

Managed to squeeze out 20 pips from EURUSD yesterday but it was a struggle, I don't have a chart though. Tried to trade with tight stoploss and got myself taken out twice at BE +1 before I managed to grind out 18 pips. Both BE scenarios did turn shortly after hitting my SL so a minor tweak there and it should be fine.
Rise and rise again until lambs become lions
  • #18,434
  • Mar 22, 2016 4:27am Mar 22, 2016 4:27am
A very nice video Damian. Very helpful.
thank you so much
  • #18,435
  • Mar 22, 2016 5:09am Mar 22, 2016 5:09am
Hello mr.pip hello classmate.

I hope i'm not that late to join this forum. I like the way Mr.Pip is teaching. You started it in a very simple way.

I want to show my homework and I'm glad to see where are my errors.

Thank you, looking forward to catch up with the lessons.

I haven't seen the video because currently i'm working in the oil rig here in thailand so our internet is not friendly to video streaming.

-MJ
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 15 22 MARCH 2016.png Size: 53 KB
  • #18,436
  • Mar 22, 2016 7:31am Mar 22, 2016 7:31am
1st trade of the day
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 56 KB
  • #18,437
  • Mar 22, 2016 7:42am Mar 22, 2016 7:42am
Quoting ujku80
A very nice video Damian. Very helpful. thank you so much
Hello Arjan! Hope you are well.
If you fail to plan, you plan to fail.
  • #18,438
  • Mar 22, 2016 7:44am Mar 22, 2016 7:44am
Quoting mjgoldtrader
Hello mr.pip hello classmate. I hope i'm not that late to join this forum. I like the way Mr.Pip is teaching. You started it in a very simple way. I want to show my homework and I'm glad to see where are my errors. Thank you, looking forward to catch up with the lessons. I haven't seen the video because currently i'm working in the oil rig here in thailand so our internet is not friendly to video streaming. -MJ {image}
Never too late my friend. Your chart looks good just clean up the in between stuff a bit and you are good don't use LL HH with in the NSH and NSL this could confuse you on the expectation.
If you fail to plan, you plan to fail.
  • #18,439
  • Mar 22, 2016 7:59am Mar 22, 2016 7:59am
hi guys.where can i find a summary of this thread?
  • #18,440
  • Mar 22, 2016 8:00am Mar 22, 2016 8:00am
Ok just getting to screens and this is my initial analysis, please critique if incorrect.

- Yesterday's main swing (cyan line) created a NSH so expectation was a NSH until the low of that leg was taken out.
- A NSL was made this morning (white trendline) so this changes expectation to a NSL.
- Right now we are in a complex correction with overall expectation for a NSL
- I'm not sure that it's a high probability to get a NSL as we look to be in a sideways correction after a large bullish move up.

Any comments?

Edit - Or did the expectation for NSL get negated when price closed above this LH (blue circle)?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 108 KB
Click to Enlarge Name: Screenshot2.png Size: 87 KB
6 traders viewing now