Ratios & Harmonics: a Different Way to Trade | Page 939 | 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

  • #18,761
  • Mar 31, 2016 5:15pm Mar 31, 2016 5:15pm
Hello Traders,

I'm sorry I've been so scarce lately. I've been very busy these couple of weeks. I will be around more moving forward. I will post my trades tomorrow and answer questions. Also remember the live stream event next week.
If you fail to plan, you plan to fail.
  • #18,762
  • Mar 31, 2016 5:27pm Mar 31, 2016 5:27pm
Quoting Mr. Pip
Hello Traders, I'm sorry I've been so scarce lately. I've been very busy these couple of weeks. I will be around more moving forward. I will post my trades tomorrow and answer questions. Also remember the live stream event next week.
No need to apologize! There is so much new information you gave us that I don't mind to let it sink in for a few days. I'm looking forward to the live stream
  • #18,763
  • Mar 31, 2016 6:34pm Mar 31, 2016 6:34pm
Question to traders in this thread:

In this scenario, do you take a long or do you wait for a retrace back up to take a short?

Price broke the red trendline and made a NSH. Then small pullback and another NSH, which reversed and immediately made a NSL by breaking the white trendline, which has now touched the 61.8 retrace.

I'd just like to see how everyone would have played this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 36 KB
  • #18,764
  • Mar 31, 2016 9:16pm Mar 31, 2016 9:16pm
Quoting jmezz
Question to traders in this thread: In this scenario, do you take a long or do you wait for a retrace back up to take a short? Price broke the red trendline and made a NSH. Then small pullback and another NSH, which reversed and immediately made a NSL by breaking the white trendline, which has now touched the 61.8 retrace. I'd just like to see how everyone would have played this. {image}
Personally I'd be biased towards shorts, if a suitable entry presented itself. Altogether the swings down have more momentum than the upswings on that chart.
  • #18,765
  • Mar 31, 2016 9:33pm Mar 31, 2016 9:33pm
Quoting jmezz
Question to traders in this thread: In this scenario, do you take a long or do you wait for a retrace back up to take a short? Price broke the red trendline and made a NSH. Then small pullback and another NSH, which reversed and immediately made a NSL by breaking the white trendline, which has now touched the 61.8 retrace. I'd just like to see how everyone would have played this. {image}
oh snap!!! a pop quiz.

Attached Image (click to enlarge)
Click to Enlarge Name: calvin1-1.jpg Size: 19 KB


well, I probable would have waited for the retracement and shorted it.

Since a NSL was established that broke trend, my initial though would be a deep correction. But since the NSL's projection was strong with good momentum, I'm thinking 50 -78.6 retracement. I would be looking hard at the 50 to 61.8 tho because of structure.
Attached Images
  • #18,766
  • Mar 31, 2016 9:55pm Mar 31, 2016 9:55pm
Quoting jmezz
Question to traders in this thread: In this scenario, do you take a long or do you wait for a retrace back up to take a short? Price broke the red trendline and made a NSH. Then small pullback and another NSH, which reversed and immediately made a NSL by breaking the white trendline, which has now touched the 61.8 retrace. I'd just like to see how everyone would have played this. {image}
Main swing bearish.
Short term OF bearish.
Strong bearish PA.
I would look for a retracement into structure, probably the zone with your red and white line and then trade for a long term NSL. Could very well be a 1:1 of the main swing. Price seem to reach the 61.8 of the main swing (it isn't plotted on your chart) before bears came in with strength.

LOL Mack 😂
Rise and rise again until lambs become lions
  • #18,767
  • Apr 1, 2016 12:37am Apr 1, 2016 12:37am
Morning all

Here is my take on EU m15 this morning. I have just gone lone, trade details on the chart. Will exit before NFP win or loss.

Comments welcome,

Stu
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 135 KB
  • #18,768
  • Apr 1, 2016 12:45am Apr 1, 2016 12:45am
Quoting jmezz
Question to traders in this thread: In this scenario, do you take a long or do you wait for a retrace back up to take a short? Price broke the red trendline and made a NSH. Then small pullback and another NSH, which reversed and immediately made a NSL by breaking the white trendline, which has now touched the 61.8 retrace. I'd just like to see how everyone would have played this. {image}
I would expect that price go south. Right now a bit late to enter. I would wait for a retracemental for going short.Good question. What is the right solution?
  • #18,769
  • Apr 1, 2016 1:14am Apr 1, 2016 1:14am
Quoting Earleone
{quote} Had to look my charts several times now. I dont understand. 1 . It is not Nonfarm today 2. I have completely other price feed then you for eurusd . and it is stable up today. And I checked price feed with 3 brokers. Or this is from the Asian session? Edit: I see now. It is a snapshot from morning. I was thinking it was updated chart

yes im trading here in the oil fields of thailand
  • #18,770
  • Apr 1, 2016 2:57am Apr 1, 2016 2:57am
Guys - another question here regarding entries.

Obviously we are taught to wait for a nice reversal bar (in our direction) to close before we enter.

However these bars are often quite strong and as such not only are you losing out on pips, but you are increasing your risk assuming you put your SL just beyond the structure / fib level you got the bounce off of.

Could an alternative entry strategy be to enter at the sign of strong support / resistance at that same level, rather than increasing the pips at stake by waiting?

I am sure this would result in my SLs being hit, but on the other hand, quite possibly more pips being taken in the successful moves?
  • #18,771
  • Apr 1, 2016 3:05am Apr 1, 2016 3:05am
Goodmorning traders!

Looking for a nice price reversal around the 50% fib in combination with structure to go short.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 19 KB


Any thoughts?
  • #18,772
  • Apr 1, 2016 3:21am Apr 1, 2016 3:21am
Quoting kaboemm
Goodmorning traders! Looking for a nice price reversal around the 50% fib in combination with structure to go short. {image} Any thoughts?
Good plan . But now already it makes NSH on my charts. I did not get in because its to big bars and to much pips to risk for SL for me.
Trading in the shadow of SM
  • #18,773
  • Apr 1, 2016 3:24am Apr 1, 2016 3:24am
Quoting djbenny1
Guys - another question here regarding entries. Obviously we are taught to wait for a nice reversal bar (in our direction) to close before we enter. However these bars are often quite strong and as such not only are you losing out on pips, but you are increasing your risk assuming you put your SL just beyond the structure / fib level you got the bounce off of. Could an alternative entry strategy be to enter at the sign of strong support / resistance at that same level, rather than increasing the pips at stake by waiting? I am sure this would result...
Exactly. I try to do this. By reducing tick size you get in quicker with smaller risk. Same if you trade on f.ex 15M has defined S&R and take your entry on f.ex 5M charts . And as you say it becomes more losers but Risk is smaller for the single trade.
Trading in the shadow of SM
  • #18,774
  • Apr 1, 2016 3:42am Apr 1, 2016 3:42am
As the big bar did pierce throught the 50% fib I did wait for it to retrace a bit further. When I got a nice reversal bar around 78.6 in combination with structure, I entered short with a nice SL above the previous high.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 21 KB


I moved to BE when price did break structure.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 26 KB


Just as I type this I got taken out on +20.
  • #18,775
  • Apr 1, 2016 4:02am Apr 1, 2016 4:02am
Quoting kaboemm
As the big bar did pierce throught the 50% fib I did wait for it to retrace a bit further. When I got a nice reversal bar around 78.6 in combination with structure, I entered short with a nice SL above the previous high. {image} I moved to BE when price did break structure. {image} Just as I type this I got taken out on +20.
Vey well done

I was burning some pips on my expectation. Overall up a some pips for the day. Big mistake my entry after news long ( loser 11.5 pips ) . It happens trading the news. Did not wait for candle close before entry and it turned to a strong bearish candle.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (144 Tick) 01_04_2016.jpg Size: 109 KB
Trading in the shadow of SM
  • #18,776
  • Apr 1, 2016 4:09am Apr 1, 2016 4:09am
E/U
Got 2 inexpensive entries with Risk appr 5 pips for each of them. Taken out at trailstop for both entries and are up 18 pips so far for the day here. Had ambitious target below daily Pivot R1 area.
Look for new opportunities to get in.
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (144 Tick) 01_04_2016.jpg Size: 93 KB
Trading in the shadow of SM
  • #18,777
  • Edited 5:34am Apr 1, 2016 5:17am | Edited 5:34am
Quoting Earleone
E/U Got 2 inexpensive entries with Risk appr 5 pips for each of them. Taken out at trailstop for both entries and are up 18 pips so far for the day here. Had ambitious target below daily Pivot R1 area. Look for new opportunities to get in. {image}
Got in long on eurusd aswell. Not the best entry but hey, its 6 pips SL, i'll take the risk compared to the possible reward.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 19 KB


EDIT: Taken out -6 pips. Bummer
  • #18,778
  • Edited 6:15am Apr 1, 2016 5:45am | Edited 6:15am
Expecations is still NSH, got in long on eurusd 233 aganin. On the red candle, retrace to 50% fib in combination with structure.

Stop loss = 3 pips and will move to BE when it hit previous NSH.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 16 KB


Im by no far a profitable trader so don't take any advice from me, im here to learn so any comments on my trading is appreciated!


EDIT: Moved to BE.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 15 KB


EDIT2:
So my emotions really tell me *put your SL under the purple line to lock in 6!!!!* But often I go wrong there because I get taken out way too early. This time Ill let my SL on BE until a better retrace has been made or when price hit 1:1 projection. Trying to control my emotions (its hard).
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 16 KB


EDIT3:
If I would have listend to my emotions, I would have been taken out already. Its hard to ignore emotions but it sure does help
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 17 KB
  • #18,779
  • Apr 1, 2016 6:26am Apr 1, 2016 6:26am
Quoting kaboemm
Expecations is still NSH, got in long on eurusd 233 aganin. On the red candle, retrace to 50% fib in combination with structure. Stop loss = 3 pips and will move to BE when it hit previous NSH. {image} Im by no far a profitable trader so don't take any advice from me, im here to learn so any comments on my trading is appreciated! EDIT: Moved to BE. {image} EDIT2: So my emotions really tell me *put your SL under the purple line to lock in 6!!!!* But often I go wrong there because I get taken out way too early. This time Ill let my SL on BE until...
Nice one. I was stopped out twice . One for BE and one for -6 pips and did not go in again since it was a little bit choppy on 144 ticks. Looks like you nailed it

Saw your edit now . Very good. Trade demo as real account and real account as demo .

It is one thing I like with Damians method that it is possible to handle the trade mechanical even against emotions as you did here. Very well done.
Trading in the shadow of SM
  • #18,780
  • Apr 1, 2016 6:31am Apr 1, 2016 6:31am
Quoting Earleone
{quote} Nice one. I was stopped out twice . One for BE and one for -6 pips and did not go in again since it was a little bit choppy on 144 ticks. Looks like you nailed it
Thanks! At least you got him on BE, and 6 pips isnt so bad, got myself a -6 aswell.

Locked in +15 with SL right under 38,2% retrace as 1:1 projection is made.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot3.png Size: 17 KB
6 traders viewing now