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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

  • #20,041
  • Jul 1, 2016 3:26am Jul 1, 2016 3:26am
Quoting evocpr19
When I looked at the dow in the Morning (EU time), price was not inspiring to me for entering a trade. I thought at 61 fib retracement would be a good point (did not trade it) to enter (expectation NSH), but then these huge candles and the 3 retest would have killed me. I saw also a big rejection in this area to go higher which told me (wrongly) that price will not go up and then boom. Congrats to those who took this trade (was not at my computer, but would have expected price to go down). I am currently struggling with my price reading and if you...
this is how I judge what happened yesterday. see the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-16 (233 Tick) 30_06_2016_evaluation.jpg Size: 130 KB
  • #20,042
  • Jul 1, 2016 7:33am Jul 1, 2016 7:33am
Quoting ujku80
{quote} this is how I judge what happened yesterday. see the chart below. {image}
Thanks for your comments.
  • #20,043
  • Edited 10:17am Jul 1, 2016 9:20am | Edited 10:17am
i got pissed off with market now.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-16 (233 Tick) 01_07_2016_1 trade.jpg Size: 126 KB


edit: moved SL to BE +5 points
edit: ended in BE after moved 28 points in my favor...

that's my last trade for this week and it was an amazing week for me. I had one loss only and in total came with +200 points. I hope it was great for you guys too.
let's wish next week is even better.

Have a nice weekend all of ya
  • #20,044
  • Jul 1, 2016 12:10pm Jul 1, 2016 12:10pm
Hey everyone. Just got into harmonics a couple of days ago and I've been trying to test it out on live charts. Can you guys take a look at the attached and see if my Bat pattern and thought processes on where to sell and buy are sound?
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-07-01 - AUDCHF - UD Bat Pattern.png Size: 45 KB
  • #20,045
  • Jul 1, 2016 3:38pm Jul 1, 2016 3:38pm
Quoting ujku80
i got pissed off with market now. {image} edit: moved SL to BE +5 points edit: ended in BE after moved 28 points in my favor... that's my last trade for this week and it was an amazing week for me. I had one loss only and in total came with +200 points. I hope it was great for you guys too. let's wish next week is even better. Have a nice weekend all of ya
Bravo sir. great job.
  • #20,046
  • Jul 1, 2016 4:41pm Jul 1, 2016 4:41pm
ES +7.25
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Click to Enlarge Name: Screenshot1.png Size: 76 KB
  • #20,047
  • Jul 2, 2016 2:17am Jul 2, 2016 2:17am
Quoting Mack2013
{quote} Bravo sir. great job.
Thank you Mack.
  • #20,048
  • Jul 2, 2016 2:25am Jul 2, 2016 2:25am
Quoting jmezz
ES +7.25 {image}
Great trade jmezz. U've been killing ES lately. I personally find it more challenging than YM.
  • #20,049
  • Jul 2, 2016 2:31am Jul 2, 2016 2:31am
Quoting whitewid0w
Hey everyone. Just got into harmonics a couple of days ago and I've been trying to test it out on live charts. Can you guys take a look at the attached and see if my Bat pattern and thought processes on where to sell and buy are sound? {image}
I'll comment this in more details lately, but two things you should know for now: 1. We don't look for harmonic patterns and don't trade them anymore. 2. You can't say that you have a bat or whatever pattern until you actually have that. Meaning that the pattern should form first, and then you see if it is a valid bat or smth else.
  • #20,050
  • Edited 10:06am Jul 2, 2016 9:53am | Edited 10:06am
I was focusing more on studies and devoting more attention to PA during the week so I wasn't able to contribute to the forums as much as I had wanted. So now I'm going through and commenting on the posts that I wanted to comment on during the week.

Quoting crixus
{quote} Excellent reading jmezz. I am impressed you can read that well by symply looking at a tick chart. On the ES, this episode was pretty similar and it gave a short setup with a target at what is called in volume profile the developing value area high. I'll try to post a chart at the end of the day.
Thank you Crixus. I picked up way too late that it was a trend day and kept looking for the pullback because I felt we had lower in the overall move. Sometimes 'thinking' is not good.

Quoting latraderfly
{quote} Hi! Yes, I got stopped out before the brexit crash.
Bummer, I think as it was nearing that price and the Brexit decision I'd have SOH.

Quoting ujku80
{quote} I also got burned several time trying to jump immediately counter trend as soon as i saw a change in order flow, and now I'm doing exactly that, waiting for two NS being taken out before i consider changing trend direction.
Yes I'm thinking either wait for that 2nd structure point to be taken out or use that point to anchor a fib to the entire move so you can enter a position and resume trend.

Quoting Mack2013
{quote} I was expecting a PB but didn't think we would get anything bigger then 50%. Well, again I tried to trail and I lost. CENSORED Trailing. BE +2. My trade management has been killing me lately. I think I'll go back to just taking targets and close against strength. {image} Edit: I was looking to re-entry but I didn't get what I was looking for. oh well
That was a great entry. If you want to avoid this sort of thing happening but want to take chance with continuing to ride the trend, you should try practicing with scaling out around the 127 or the 1:1. Just as an example, you could try taking half off at that point while keeping half and setting that half to b/e or keep your original stop. When price comes back down to retrace, if you get another buy signal you could add another half back so you are carrying your 10cts again. Then you could scale half at your target and add another half back on the next retrace. Hope this makes sense, I can provide a chart if you'd like. This strategy would have worked phenomenally these past few days because of the strong trending days. If you were to attempt it on a 'normal' day then you may not get so many chances to add. It's something you'd need to experiment with. Of course, you could always just take your full profits at targets and then wait for a pb to initiate a new full position again as you've been doing

Edit - also I notice a lot of times that large range bars provide support or resistance to price coming back and testing that level. I'll include a screen. In the screen you provided, price had created several nice strong bullish bars which were then retraced by a couple of very strong bearish bars. So going forward you could keep in mind that if you get strong rotation bars which are being canceled out by a retrace then perhaps the move has some strength and you can take some or all profits.

Attached Image (click to enlarge)
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Quoting evocpr19
When I looked at the dow in the Morning (EU time), price was not inspiring to me for entering a trade. I thought at 61 fib retracement would be a good point (did not trade it) to enter (expectation NSH), but then these huge candles and the 3 retest would have killed me. I saw also a big rejection in this area to go higher which told me (wrongly) that price will not go up and then boom. Congrats to those who took this trade (was not at my computer, but would have expected price to go down). I am currently struggling with my price reading and if you...
Notes on chart.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 112 KB


Quoting ujku80
i got pissed off with market now. {image} edit: moved SL to BE +5 points edit: ended in BE after moved 28 points in my favor... that's my last trade for this week and it was an amazing week for me. I had one loss only and in total came with +200 points. I hope it was great for you guys too. let's wish next week is even better. Have a nice weekend all of ya
Sick week for you my friend, congrats!
  • #20,051
  • Jul 3, 2016 1:21am Jul 3, 2016 1:21am
Quoting jmezz
I was focusing more on studies and devoting more attention to PA during the week so I wasn't able to contribute to the forums as much as I had wanted. So now I'm going through and commenting on the posts that I wanted to comment on during the week. {quote} Thank you Crixus. I picked up way too late that it was a trend day and kept looking for the pullback because I felt we had lower in the overall move. Sometimes 'thinking' is not good. {quote} Bummer, I think as it was nearing that price and the Brexit decision I'd have SOH. {quote} Yes I'm thinking...
Nice observation. I'll definitely take it in to consideration in the future. Sometime these little things fly by me even when I study and do reviews so thank you.

I'm not a big fan of scaling out. I tried this process in the beginning with a scale in scale out process and wasn't successful. Probable because I wasn't profitable anyway. haha. I'll have to test it

sort of like this, right? I know this is in hindsight and kind of a perfect example just trying to get it right

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  • #20,052
  • Jul 3, 2016 12:03pm Jul 3, 2016 12:03pm
Ah ok. Yeah that's what I was referring to but if you've tried it and don't like it then stick to what works.

I hope I am not coming off as a know-it-all when I suggest things to other members here, I'm mainly trying to provide another opinion which I hope helps people.

When I post my charts and questions I urge people to come forward if they have any input on them, even if that input is negative. If someone sees something I did that doesn't make sense or they can think of a better way to do it then I am all ears as I only want to become better.

Regardless, some excellent trading going on in here the past few weeks accompanied by some great discussion as well.

Hope everyone has a great and safe weekend!
  • #20,053
  • Jul 3, 2016 9:17pm Jul 3, 2016 9:17pm
Quoting jmezz
Ah ok. Yeah that's what I was referring to but if you've tried it and don't like it then stick to what works. I hope I am not coming off as a know-it-all when I suggest things to other members here, I'm mainly trying to provide another opinion which I hope helps people. When I post my charts and questions I urge people to come forward if they have any input on them, even if that input is negative. If someone sees something I did that doesn't make sense or they can think of a better way to do it then I am all ears as I only want to become better....
Indeed. Your not coming off as a "know it all" at all. Your making valid points. I'm far from perfect and I'm using this forum/thread as a classroom.

I'm going to use the stat to test your option on scaling out (market replay). Now that I'm doing better at trading and making better decisions (on average haha) maybe scaling out on strong trending days maybe the best option. my trailing stops strategy has a lot to be desired. I honestly did better just taking target even if I left a bunch of pips on the table. something I need to review anyway.

I agree on the progress of the thread and the participation. A lot of quality members have been shy or busy or moved on, but the quality of the current participation is very good and super helpful. so my hats off to you guys. thank you for helping some guy in Canada work to achieve his dream.
  • #20,054
  • Jul 4, 2016 2:59am Jul 4, 2016 2:59am
Quoting jmezz
Sick week for you my friend, congrats!
Thank You jmezz. I'm not sure if it was me or simply the market behaving in a such a nice way that every beginner would have done great.
  • #20,055
  • Jul 4, 2016 12:54pm Jul 4, 2016 12:54pm
Happy Independence Day to all our American friends! 🎉🎊
  • #20,056
  • Jul 4, 2016 3:08pm Jul 4, 2016 3:08pm
Quoting jmezz
I was focusing more on studies and devoting more attention to PA during the week so I wasn't able to contribute to the forums as much as I had wanted. So now I'm going through and commenting on the posts that I wanted to comment on during the week. {quote} Thank you Crixus. I picked up way too late that it was a trend day and kept looking for the pullback because I felt we had lower in the overall move. Sometimes 'thinking' is not good. {quote} Bummer, I think as it was nearing that price and the Brexit decision I'd have SOH. {quote} Yes I'm thinking...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 112 KB


I totally agree with your assessment of price action even though I think it would be hard to trade it in real time. sometime single bar strength mixes fear and confusion in my live read which could lead to paralysis. I think I'll have to work on this part to advance to the next level. The rotation bar was as clear as day once you pointed it out tho. good job
  • #20,057
  • Jul 5, 2016 6:50am Jul 5, 2016 6:50am
Quoting Mack2013
{quote} {image} sometime single bar strength mixes fear and confusion in my live read which could lead to paralysis. I think I'll have to work on this part to advance to the next level. The rotation bar was as clear as day once you pointed it out tho. good job
I'm learning not to focus at bars at all, only at swings. And trade as cool as Damian does - If market hit's my SL then so be it - kind of attitude. Otherwise, I was going nuts and ruining some really good trades with perfect entries. The only time I look at bars is when I need to see a rotation bar and maybe also before I enter, to evaluate the strength and weakness of the swing. Once I enter, I don't touch the damn thing as chances are that I might get too emotional and backfire my trading.
  • #20,058
  • Jul 5, 2016 6:52am Jul 5, 2016 6:52am
the idiot speaking now, couldn't resist taking a trade during the holiday session, and as you might expect got a hit. Hopefully I'll recover it today. here are my two trades taken this week:
Attached Image (click to enlarge)
Click to Enlarge Name: YM 09-16 (233 Tick) 05_07_2016_2 trades.jpg Size: 150 KB
  • #20,059
  • Jul 5, 2016 8:32am Jul 5, 2016 8:32am
ahh, one BE trade...gave market 40 points
  • #20,060
  • Jul 5, 2016 11:18am Jul 5, 2016 11:18am
Quoting ujku80
the idiot speaking now, couldn't resist taking a trade during the holiday session, and as you might expect got a hit. Hopefully I'll recover it today. here are my two trades taken this week: {image}
solid entry. too bad.
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