Ratios & Harmonics: a Different Way to Trade

Quoting Earleone

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{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 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.

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Quoting SteeP7

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looking to buy YM here {image}

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Quoting kaboemm

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{quote} Thanks, appreciate the compliment. Yes, I really try to act like this is a real account. I think next week ill just start trading live with a very small account of 300 euros, just trading 0.01 lots. Just to get a feel of trading with actual money. EDIT: Hoping for another 1:1 projection. Moved SL to +20 {image} EDIT2: SL hit: +20 pips.

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Quoting evocpr19

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since NSH failed, short on dow @17727 Update: entry protected +2 SL now 17721 taken out I did not let a lot of room, since it was against main trend. Maybe a mistake if price comes down, but ok. {image}

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Quoting Stuart1984

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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 {image}

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Quoting Matiasfx

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{quote} In my YM chart 233 ticks it made a NSH with very small proyection, So I expect probably a complex and deep correction for now, but let see, it can go down. {image}

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Quoting jmezz

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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}

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Quoting djbenny1

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{quote} I'm in the same boat as you, currently on demo but wanting to go live. I think there is only so much you can learn on demo, once you get the "knowledge" pretty well, I really think its VERY difficult to learn the "psychology" on demo which is what I struggle with the most. However, at the same time, I think the lot you go with on live has to be carefully considered as it has to be enough for you to take it seriously. Personally I'm looking at the Euro mini futures. Ticks are only 1.25 on that for a single contract. Trades would be a couple...

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Quoting beepbop2015

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{quote} 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.

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Quoting Mack2013

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{quote} oh snap!!! a pop quiz. {image} 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. {image} {image}

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Quoting Mr_Burns

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{quote} 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 😂

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Quoting evocpr19

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{quote} 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?

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Quoting PipTrendz

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{quote} Edit: totally misread, I would be looking for a retracement and then a short as the momentum to the downside is greater than the push to the last NSH. Maybe look short if price moved back up the the area of the red line depending how price action went to get there.

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Quoting Stuart1984

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Well so far so good. Been taking demo trades since Wednesday after coming across this thread last week. I am not a beginner, been profitable for a couple of years but always felt like I was missing something. I have really enjoyed what I have learned here so far. I had a prior knowledge of structure and Supply and Demand and a little bit of Order Flow but from a slightly different viewpoint than Mr Pip and I really love the term expectation. Such a simple word, has given me a new view on the market I did not have before. Thank you Mr Pip for teaching...

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Quoting jmezz

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{quote} {quote} {quote} {quote} {quote} Thank you all for responding. The reason I asked is because as I was watching in realtime I really had no idea what to do. On the one hand you have price making a NSH and if you take into account the entire leg then price had only broken short term order flow and retraced to the 61.8 which sets up the long. But on the other hand you have that NSL which would set up the short with a retrace. Regardless, this was a fun exercise and everyone chiming in with their thoughts has been extremely educational. If anyone...

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