{quote} I guess you cant get em all. taken out by 1 pip {image}
Congrats though because you've been killin it lately.
Have a great weekend everyone!
Ratios & Harmonics: a Different Way to Trade
- #19,881
- Jun 17, 2016 2:45pm Jun 17, 2016 2:45pm
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
Congrats though because you've been killin it lately.
Have a great weekend everyone!
Hi guys, new (noob) here. Just wanna share some ideas. What do you think?? Took me 3 days to read about 100 pages. Probably will take another whole month to read the rest of the pages.
Please feel free to give me feedback as I am learning as much as I can about harmonic patterns.
-----------------------------------------
http://i.imgur.com/RjxXiFJ.png
There's a lot of stuff going on but I'm eyeing a short OP on the AUDCAD-0.13% (https://www.tradingview.com/chart/AUDCAD/) for several reasons.
The main key is confluences of harmonic (https://www.tradingview.com/chart/harmonicpatterns/) movement.
We can see in bright blue a potential ABCD short at the 1.27/1.382 movement.
There is also another green ABCD short opp-35.29% (https://www.tradingview.com/chart/OPP/) at 1.27/1.382 movement.
Green 1.27 and Blue 1.382 meets confluence.
Both ABCD has perfect 61.8 retracements.
That that level we also see previous structure resistance from about a month ago - red dashes.
You can also see downtrend swings with 3 equal harmonic (https://www.tradingview.com/chart/harmonicpatterns/) movement. if it decides to reverse, then we might see another red harmonic (https://www.tradingview.com/chart/harmonicpatterns/) movement as indicated on the ride side of screen.
My stop is .5% from green 1.382 levels. If i'm wrong, I'm wrong. R/R level I didn't even bother counting but it's on our side.
Target 1 is Yellow retracement the AD leg of blue ABCD @ 38.2.
Target 2 is 61.80.
It would be great if a pattern emerges in the next few days for a short.
One thing that worries me is those icons of flags on the bottom of the screen. Is that news coming out?
What do you guys think?
Please feel free to give me feedback as I am learning as much as I can about harmonic patterns.
-----------------------------------------
http://i.imgur.com/RjxXiFJ.png
There's a lot of stuff going on but I'm eyeing a short OP on the AUDCAD-0.13% (https://www.tradingview.com/chart/AUDCAD/) for several reasons.
The main key is confluences of harmonic (https://www.tradingview.com/chart/harmonicpatterns/) movement.
We can see in bright blue a potential ABCD short at the 1.27/1.382 movement.
There is also another green ABCD short opp-35.29% (https://www.tradingview.com/chart/OPP/) at 1.27/1.382 movement.
Green 1.27 and Blue 1.382 meets confluence.
Both ABCD has perfect 61.8 retracements.
That that level we also see previous structure resistance from about a month ago - red dashes.
You can also see downtrend swings with 3 equal harmonic (https://www.tradingview.com/chart/harmonicpatterns/) movement. if it decides to reverse, then we might see another red harmonic (https://www.tradingview.com/chart/harmonicpatterns/) movement as indicated on the ride side of screen.
My stop is .5% from green 1.382 levels. If i'm wrong, I'm wrong. R/R level I didn't even bother counting but it's on our side.
Target 1 is Yellow retracement the AD leg of blue ABCD @ 38.2.
Target 2 is 61.80.
It would be great if a pattern emerges in the next few days for a short.
One thing that worries me is those icons of flags on the bottom of the screen. Is that news coming out?
What do you guys think?
- #19,887
- Jun 18, 2016 9:55am Jun 18, 2016 9:55am
- Joined Dec 2012 | Status: Trader | 8,124 Posts
The world you desire can be won. It exists.. it is real.. it is possible..
- #19,889
- Jun 18, 2016 12:30pm Jun 18, 2016 12:30pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
{quote} Well put. I would definitely look at how the upswing is constructed and its reaction. {quote} Aghhhhh %^&$, we got a fight. (well, maybe just a deference of opinion. LOL) who will win? In the red corner, we got Mr.Scott, a high impact FF champion and holder of threads vs in the blue corner, jmezz, PA god and challenger of patterns. Who will win? get your PPV ready for this Saturday's fight night. This Saturday! Saturday!Saturday! oh yeah, markets are closed Saturday. oh well , everybody go home. {quote} Keep us posted please. I would like...
Thanks for laugh. Have a good weekend.
The world you desire can be won. It exists.. it is real.. it is possible..
Hi everyone.. since I am new, I can't create new threads, but I thought I'd ask a really stupid question since I'm concerned with trading orderflow/harmonics.
I noticed that these forexes have moments of extreme volatility to the upside and downside looking at the 15 min charts. Is there a reason for this? Do those volatility coincide with a market open somewhere. I'm used to volatility in equities during the market opens which I can easily avoid but these volatility scares me. If these moves coincide with some type of market open, is there a resource to know them for each individual forex?
Just today, there were 3 extreme gaps in some currency I was watching. This is pretty frightening for me as I am looking at 15 minute charts and intend to trade in those time interval. I cant imagine myself in a situation where a gap goes against an open position that I am in. Sorry, I am new to forex and want to understand why this sudden gap occurs. Is there a way for me to avoid this type of action?
Looking from a daily chart perspective, these gaps don't scare at all because I would have certain levels that I could risk against but in these 15 minute charts, I feel like I am missing something very obvious in knowing why these gaps/volatility occur
I've attached some examples.
I would greatly appreciate if any seasoned players could chime in on this. Thank you.
I noticed that these forexes have moments of extreme volatility to the upside and downside looking at the 15 min charts. Is there a reason for this? Do those volatility coincide with a market open somewhere. I'm used to volatility in equities during the market opens which I can easily avoid but these volatility scares me. If these moves coincide with some type of market open, is there a resource to know them for each individual forex?
Just today, there were 3 extreme gaps in some currency I was watching. This is pretty frightening for me as I am looking at 15 minute charts and intend to trade in those time interval. I cant imagine myself in a situation where a gap goes against an open position that I am in. Sorry, I am new to forex and want to understand why this sudden gap occurs. Is there a way for me to avoid this type of action?
Looking from a daily chart perspective, these gaps don't scare at all because I would have certain levels that I could risk against but in these 15 minute charts, I feel like I am missing something very obvious in knowing why these gaps/volatility occur
I've attached some examples.
I would greatly appreciate if any seasoned players could chime in on this. Thank you.
- #19,897
- Jun 20, 2016 5:28am Jun 20, 2016 5:28am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
YM market outlook:
YM made a NSH after breaking an important supply zone around 17700 which indicates strength to the upside. However, we are approaching an 1/1 harmonic swings or moves (note an AB=CD forming at 17800), so it could be that it might pull back to test that supply zone or might even retrace lower, potentially down to 61.8% of the swings (remember trading AB=CDs). However, my expectation are for the market to continue higher. It's not rare either that after market makes those gaps it will try to fill them.
Personally, I'll be looking only at short term order flow which is represented by the small swings inside those major moves. A short signal for me would be market making a NSL in short term order flow with profit targeting the supply zones in the chart above. Otherwise, looking for longs if market keeps on making NSH on short term order flow.
GL and green pips to all
YM made a NSH after breaking an important supply zone around 17700 which indicates strength to the upside. However, we are approaching an 1/1 harmonic swings or moves (note an AB=CD forming at 17800), so it could be that it might pull back to test that supply zone or might even retrace lower, potentially down to 61.8% of the swings (remember trading AB=CDs). However, my expectation are for the market to continue higher. It's not rare either that after market makes those gaps it will try to fill them.
Personally, I'll be looking only at short term order flow which is represented by the small swings inside those major moves. A short signal for me would be market making a NSL in short term order flow with profit targeting the supply zones in the chart above. Otherwise, looking for longs if market keeps on making NSH on short term order flow.
GL and green pips to all
- #19,899
- Jun 20, 2016 9:31am Jun 20, 2016 9:31am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
YM Yeah these large gap days are very difficult to trade. I've read that the larger gaps have less of a chance of closing on the same trading day as they occur so I won't be in any hurry to try and short this gap. Not going to be in a hurry to do anything for at least the first 30mins.
my first trade this week. come on bulls !!!
- #19,900
- Jun 20, 2016 9:40am Jun 20, 2016 9:40am
- | Joined Dec 2014 | Status: Trader | 1,008 Posts
{quote} Yes, that's true. But then again, we don't need to assume anything and suppose that market will do this or that until it actually shows us what it is that is doing. If it want's to head south f.ex., it will start to make NSL and we see that and will trade that. Otherwise, just keep going longs. it's simple right?! my first trade this week. come on bulls !!!