Ratios & Harmonics: a Different Way to Trade

Lot of bearish strength on that last candle. I took my 12 pips and ran.

YM this morning.

Long term will expect NSH unless 17669 taken out.

Eurusd 15m

+11 pts & -17pts = -6pts for today

expectation nsh

change of expectation if price will break below 1.1450 to 1.1430 price area

Added to my short USDCAD position (Edit: Closed for a few pips)

Thought I'd join the party

Target hit for 38 pips

Done for the day +11.6%

24pts on YM

Might attempt another short in 618zone

Not really sure though because this is against long term expectation, even though momentum / depth weakening.

nice start of the week ren

congrats on your trade !

Will be interesting to see if this works out on the ES

Edit - Did try to correct there briefly but ultimately broke through. No trade taken.

Thanks man!

Price went right through this zone and looked to be like a hail mary from the bulls as had very strong momentum but the projection was considerably smaller than the prior leg up.

The market got the better of me today. I am posting the situations I was thinking about and would be grateful if someone feels like giving their opinion.

EDIT: The setup in question is the one furthest to the right.

Would you trade it? Why? Why not?

If you want to avoid "cheating" start from the top and do not look at the subsequent images.

Sup stavro, which setup(s) were you inquiring about? I took a screenshot and circled a few.

Or were you just wondering if others would have traded the price action in general?

Ah, I should have cleared that up:

I mean the one the furthest on the right. I do not know how to hide the following price action otherwise.

The red circle in your example.

Eurusd 15m

expectation nsh

locked in +20pts

tp 1.1550

Ok so price had made a weak NSL which means deep pb and then look for a short. Price did pullback past the 61.8 and rejected a structure area, however I would not have taken this short for a couple of reasons.

The pullback after the NSL had more momentum than the previous up leg. You can see those large range bars heading up to the 61.8 and also the angle of the pb when compared to the prior leg.

Even though there was a decent rejection, that candle still closed above the high of the previous candle. The 2 red candles afterwards don't really show that the bears are ready to resume the move down, their bodies are small. There's no strong rotation down. Neither of those 2 candles tried to break beneath the green rejection candle, so to me that's profit taking after the burst up.

You could also make the argument that on the long term it was overall just a pullback to the long term 61.8.

Everything is always 100% easier to spot in hindsight, so if I were trading that realtime I'd look at the momentum on the leg up and already have my doubts that I'd take the trade. Just like that ES short I posted about the other day where the second corrective leg had gained momentum into the short zone, you want to see the opposite. When there was no rotation then that would make it clear to me not to do anything there.

Hopefully someone else chimes in as well. This is just my opinion and I'm no more knowledgeable than anyone else in here on Damian's method. But it's definitely good to get as much discussion going as possible especially because he's not active in the thread right now.

EURUSD 15M

EXPECTATION NSH

Locked in +28pts

Eurusd 15m

expectation nsh

good morning everyone

yesterday i locked in +28pts

trade is still open we locked in more +35pts

tp-1.1550