DislikedI made this short video a while back for a group I was mentoring. It is a great foundation we can build on. View the video on Fibs and Harmonics. Regards, Mr. Pip http://www.youtube.com/watch?v=6SvcmyIkmtM&feature=player_detailpageIgnored
Ratios & Harmonics: a Different Way to Trade
- #19,102
- Apr 20, 2016 8:27am Apr 20, 2016 8:27am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} Excellent job on this man! When I got to my screens this morning I was hoping you got aggressive with the trade and didn't have to settle for a b/e.
it been a pretty dull day for me so far. Price isn't doing what I would like.
first green arrow. I was looking to short here but couldn't come up with enough reasons to short the market. so I let it go
second green arrow: I was expecting a 61.8 PB. with the strength I though maybe there will be some follow up but there wasn't
testing my patience today, for sure. Hopefully I dont make a dumb move. right now I'm looking for a S/T move to 18070 before continuing up.
- #19,103
- Apr 20, 2016 9:35am Apr 20, 2016 9:35am
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
{quote} I agree overall, but I see price accelerating to the upside, so I am not equally convinced of the deep pull-back from a price action point of view as I am from an orderflow point of view. Hope it is understandable what I mean.
{quote} thx dude. it been a pretty dull day for me so far. Price isn't doing what I would like. first green arrow. I was looking to short here but couldn't come up with enough reasons to short the market. so I let it go second green arrow: I was expecting a 61.8 PB. with the strength I though maybe there will be some follow up but there wasn't testing my patience today, for sure. Hopefully I dont make a dumb move. right now I'm looking for a S/T move to 18070 before continuing up. {image}
Now that the Euro session has closed, I hear you on hoping you don't do something dumb haha. I'm finding it very hard to see good reason in trading after lunch time, I feel like it's harder even though the action is slowed down. But I keep watching it because those days where I do duck out early, I come back and there's moves all over the place. So then I decide to setup camp in my chair for the full RTH and then price doesn't do shit in the afternoon session. It's like it knows that I'm watching
- #19,104
- Edited 10:55am Apr 20, 2016 10:18am | Edited 10:55am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
{quote} You bring up a great point. Even though it was a weak NSH which would bring the expectation of a deep correction, the momentum on that leg which created the NSH was very strong. So you're right, that's definitely something to take into account. {quote} I was paying more attention to the NQ this morning but would check YM to see if it was approaching the 22-39 zone I mentioned this morning. If it pulled back into that zone and then ended up making it to the 61.8 I think that would have been a homerun for sure. That's what was happening to...
Anyway here is the dumb move I was expecting. LOL
US30 - 144T
I was looking for/ expecting a PB then price completing the 1 to 1 but never got it. Well, price instead completed the 1 to 1 and price does look over extended. but with the moderate correction, healthy projection and increase in momentum, I feel like an idiot not waiting for more bar by bar confirmation. guess, i'll play it out.
Mahhhhh, looking to exit
-35pips. I should of exited early. should of, would of, could of, I guess
- #19,105
- Apr 20, 2016 1:09pm Apr 20, 2016 1:09pm
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
well I was able to get some of it back . ending the day with +4 pips 
hahaha
US30 - 144t
might have left some on the table but, its late and I didn't like the structure
hahahaUS30 - 144t
might have left some on the table but, its late and I didn't like the structure
- #19,107
- Edited 10:48pm Apr 20, 2016 10:35pm | Edited 10:48pm
- | Joined Jan 2016 | Status: Trader | 1,719 Posts
- #19,109
- Apr 21, 2016 12:22am Apr 21, 2016 12:22am
Heres a trade i took on the 5min eur/usd yesterday, would be great to hear what you guys think about it? I took it because the previous swing had great projection and momentum and because of this i didnt expect to see the retrace going any further, i had a sl of 14 pips just above the retrace back high and got tp at 1.1303 with a profit of 26 pips.
We are expecting a nsl but because of the very slow momentum and the weakening projection on the last swing we are only expecting a weak nsl, so my question is would anyone consider a trade here in this situation? Or would you wait for a nsh or nsl to form?
Cheers
Harry
We are expecting a nsl but because of the very slow momentum and the weakening projection on the last swing we are only expecting a weak nsl, so my question is would anyone consider a trade here in this situation? Or would you wait for a nsh or nsl to form?
Cheers
Harry
EURUSD 15M
EXPECTATION NSL
ENTRY 38.2 FIB, PREVIOUS SUPPORT AREA,
I ENTERED WHEN I SAW THIS BIG RED BAR CLOSED THEN LOOK A BIGGER GREEN BAR ENTERED.
MY INITIAL SL - Just ABOVE 61.8 FIB
TARGET TO.MOVE AT BREAK EVEN WHEN PRICE.REACH THE support area
Lets see what the market will.tell
EXPECTATION NSL
ENTRY 38.2 FIB, PREVIOUS SUPPORT AREA,
I ENTERED WHEN I SAW THIS BIG RED BAR CLOSED THEN LOOK A BIGGER GREEN BAR ENTERED.
MY INITIAL SL - Just ABOVE 61.8 FIB
TARGET TO.MOVE AT BREAK EVEN WHEN PRICE.REACH THE support area
Lets see what the market will.tell
- #19,113
- Apr 21, 2016 5:23am Apr 21, 2016 5:23am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
-eurusd 15m -34pts today
I wasn't at my pc otherwise I would had taken the same trade which was reasonable.
- #19,116
- Apr 21, 2016 6:49am Apr 21, 2016 6:49am
Got an almost 6:1 reward:risk trade on the USDJPY (Renko 14 chart). I had a Really tight initial stop (3.7 pips), and a pretty decent trailing stop, gave me a 21.4 pip profit. As you can see, price broke down to a NSL, I waited until the retracement back to the 78.6% fib and then waited patiently for price to begin the move back down. Patience is key.
Markets can remain irrational longer than you can remain solvent - JMK
- #19,120
- Apr 21, 2016 8:53am Apr 21, 2016 8:53am
- | Joined Dec 2013 | Status: Trader | 1,118 Posts
US30 - 144T
Short.... Originally I was thinking to go for the 1 to 1 target back around 18000 but with the current PA I'm sort of thinking price might not be able to make it pass the next structure. In particular I don't like how labored the impulse leg is and PA feels like a double bottom. What do you guys think? Should I hold and risk B/E or go for the original 1 to 1?
Its the problem with discretionary rules;
If i close it and structure holds then I was right but does this support bad habits (closing early) or am I just listening to price?
If I close it and it completes, then I should of stuck to the rules?
If I leave it and structure holds and I'm stopped at B/E, then was I greedy and ignoring what price was telling me?
I'm holding for now and looking to trail stops but should I be listening to me intuition?
Short.... Originally I was thinking to go for the 1 to 1 target back around 18000 but with the current PA I'm sort of thinking price might not be able to make it pass the next structure. In particular I don't like how labored the impulse leg is and PA feels like a double bottom. What do you guys think? Should I hold and risk B/E or go for the original 1 to 1?
Its the problem with discretionary rules;
If i close it and structure holds then I was right but does this support bad habits (closing early) or am I just listening to price?
If I close it and it completes, then I should of stuck to the rules?
If I leave it and structure holds and I'm stopped at B/E, then was I greedy and ignoring what price was telling me?
I'm holding for now and looking to trail stops but should I be listening to me intuition?