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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

  • #20,321
  • Aug 5, 2016 10:24am Aug 5, 2016 10:24am
Came late to the charts and made a rubbish trade management. I finish my day with +5,6 (big lot).

I wish all many pips and happy WE.
  • #20,322
  • Aug 8, 2016 9:44am Aug 8, 2016 9:44am
Could catch +5.2 (big lot) on dax. Summer times is a bit strange to trade due to (sometimes) jerky movements and sometimes complete stop of movements for a while. I thought several times that there was an issue with my mobile connection. Hence a reduce my expection for my win, since I have also to work (time constraints).
  • #20,323
  • Aug 11, 2016 6:29pm Aug 11, 2016 6:29pm
YM +21, -10 = +11

Have done several things. Stopped watching NQ entirely and stopped paying so much attention to the ES as well so now I focus 95% on YM. Switched back to the 233tick from 162tick and basically dropped everything else I was researching and am pretty much sticking to Damian's basics only.

1st trade today was a countertrend scalp after failure at 2 sets of 113fibs. I like using the 113 because you see a lot of break out failure reversals there. Price was clearly losing momentum into the 113, and once I saw the weak nsh at 538 I was then on the lookout for a lh to fade. I would have been more comfortable if price came down and took out the swing low at the horizontal green line then pulled back for the lh, but with how weak price was looking in the orange box I decided that rotation bar down was a solid entry.

2nd trade I was looking for a shallow retracement to short further. I thought that by breaking the swing low at the green horizontal line that this was a change to the order flow. on the short term it very well was. So naturally I was looking for a shallow retracement which we got at the 382. Also at this level was structure and the daily open. We rejected the open, 382, and structure then price put in a nice engulfing bar so I took the invitation to sell however it didn't pan out. In hindsight, if I had used the swing point at the orange horizontal line (this was the clear low imo) then I probably would not have been looking for the short. Even though it was a deep retracement I may have taken the rotation candle up for the long as I would have had a long bias. But of course I can't say for certain what I would have done.
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  • #20,324
  • Aug 16, 2016 5:04am Aug 16, 2016 5:04am
Just took 12 pips off of the AU. Price has been bullish so waited on a good pullback and entered. I got 12 pips out of it and it looks currently like I left more on the table. However, there was a lot of rejection so I closed the trade and booked my profit.
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Damn The Torpedoes, Full Speed Ahead!
  • #20,325
  • Aug 16, 2016 10:48am Aug 16, 2016 10:48am
YM +12, -13, +10 = +9 total

I have been trying to focus on the process vs money.

1st trade was a PRZ countertrend trade. While I am becoming more patient in setups and giving them time / space to work, I definitely mismanaged the trail here. I did not wait for the trade to hit my trail to take me out, instead here I bailed on the position as we came back and retested the overnight low / supply zone.

2nd trade I saw price coming up to demand zone and 50fib. I saw it test the 50fib and 161.8 extension for a 2nd time and reject it so I took the invitation to buy however it did not pan out.

3rd trade I decided to re-enter (something that I struggle with doing) at the overnight low / 618 / 200ext and the trade was working out great. Once we approached the highs I locked in 10pts and wanted to give it room for higher. This was not to be though as price came back and took me out.

The fact that it was approaching 11:30 and my last trade reached a high of 26pts profit, I should have taken the hint and taken the profit and called it a day. However it was good practice following the process vs the money.

I've been trying to focus on getting 20pts everyday and once that occurs I shut trading down for the day. I did not succeed at it today but I am liking my execution a little better than in prior months.

Typically I would be fairly nervous upon entry of a position and move to b/e quickly. However I find I am much more calm and it's easy to reconcile a trade not working out if you get stopped out for +5 or 10 pts while sticking to the process vs nervously initiating a trade and settling for b/e or b/e1.

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  • #20,326
  • Aug 17, 2016 10:09am Aug 17, 2016 10:09am
Short on EA

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EA [M5 Chart]

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Fairly tight stop at 20 pips (should be higher up the chart but not prepared to risk more on this aggressive entry).

Possible price exhaustion level looking at taking a few pips in a small pullback down from the 78.6 Fib down to 61.8 Fib (MP) .. chart structure short.

Will close it out for a smaller gain if PA hints at driving back up the chart.

Looking at taking 50 pips.

Lets see!

Masterrmind...........
Master your Mind then Master your Trades
  • #20,327
  • Aug 17, 2016 11:27pm Aug 17, 2016 11:27pm
Quoting Masterrmind
Short on EA {image} EA [M5 Chart] {image} Fairly tight stop at 20 pips (should be higher up the chart but not prepared to risk more on this aggressive entry). Possible price exhaustion level looking at taking a few pips in a small pullback down from the 78.6 Fib down to 61.8 Fib (MP) .. chart structure short. Will close it out for a smaller gain if PA hints at driving back up the chart. Looking at taking 50 pips. Lets see! Masterrmind...........
EA [M5 Chart]

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Took just under 10 pips out it.

Close to being stopped out but trade survived.

PA dropped nicely the following Asian session but not in the trade to benefit.

Onto the next setup!

Masterrmind............
Master your Mind then Master your Trades
  • #20,328
  • Aug 18, 2016 2:13am Aug 18, 2016 2:13am
Hi @ all,
just arrived here after reading all the pages as recommended and watched most of Damians wonderful vidz. Please forgive my surely not perfect english. Let me thank you for the always very high niveau of this thread. During my years on FF saw a lot of opposite ones...
I`d like to find a little place here to discuss and try to get better together with you if you don`t mind.
Happy trading so far.
Have a nice day
  • #20,329
  • Aug 18, 2016 8:44am Aug 18, 2016 8:44am
YM +24

Didn't make any trades yesterday.

Today hit this for +24 and am most likely done for the day. Will watch until about 11:30 and only take a very high probability setup.
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  • #20,330
  • Aug 18, 2016 8:59am Aug 18, 2016 8:59am
Looking to short EA very soon

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Keen to observe if the bulls try to push price up beyond the 78.6 Fib zone.

If it holds I'll make 2 short entries with TPs as shown on the chart and SLs initially up high but moved down as trade progresses.

Observation time especially over the next hour to see what reaction we get.

Masterrmind...........
Master your Mind then Master your Trades
  • #20,331
  • Aug 18, 2016 9:43am Aug 18, 2016 9:43am
Quoting Masterrmind
Looking to short EA very soon {image} Keen to observe if the bulls try to push price up beyond the 78.6 Fib zone. If it holds I'll make 2 short entries with TPs as shown on the chart and SLs initially up high but moved down as trade progresses. Observation time especially over the next hour to see what reaction we get. Masterrmind...........
EA [M15 Chart]

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Price heading back up near the 78.6 Fib level.

Lets see if the level holds and keeps price contained.

It pays to be patient!

Masterrmind...........
Master your Mind then Master your Trades
  • #20,332
  • Aug 18, 2016 9:50am Aug 18, 2016 9:50am
Quoting Masterrmind
{quote} EA [M15 Chart] {image} Price heading back up near the 78.6 Fib level. Lets see if the level holds and keeps price contained. It pays to be patient! Masterrmind...........
EA [M5 Chart]

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Patience might offer up a better entry on the M5 TF.

Lets see!

Masterrmind............
Master your Mind then Master your Trades
  • #20,333
  • Aug 18, 2016 10:00am Aug 18, 2016 10:00am
Quoting Masterrmind
{quote} EA [M5 Chart] {image} Patience might offer up a better entry on the M5 TF. Lets see! Masterrmind............
EA [M5 Chart]

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2 shorts in progress.

ps. no guarantee TP1 and TP 2 will be hit ... so we manage the risk!

Masterrmind............
Master your Mind then Master your Trades
  • #20,334
  • Aug 18, 2016 10:33am Aug 18, 2016 10:33am
Quoting Masterrmind
{quote} EA [M5 Chart] {image} 2 shorts in progress. ps. no guarantee TP1 and TP 2 will be hit ... so we manage the risk! Masterrmind............
EA [M5 Chart]

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Shorts running nicely.

Any sign of a reversal back up and trade(s) could be closed out.

Watch chart structure at DO line, Fibs etc on the way down and enjoy the ride.

Rest time for me ...........

Masterrmind...........
Master your Mind then Master your Trades
  • #20,335
  • Aug 19, 2016 1:22am Aug 19, 2016 1:22am
Quoting Masterrmind
{quote} EA [M5 Chart] {image} Shorts running nicely. Any sign of a reversal back up and trade(s) could be closed out. Watch chart structure at DO line, Fibs etc on the way down and enjoy the ride. Rest time for me ........... Masterrmind...........
EA [M5 Chart]

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2 shorts closed out just above the DO line.

PA pushed off this zone and never really dropped but headed up higher.

Pleased I closed when I did for some +23.7 pips over both trades.

Masterrmind...........
Master your Mind then Master your Trades
  • #20,336
  • Aug 19, 2016 9:45am Aug 19, 2016 9:45am
YM +40

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  • #20,337
  • Edited 4:18pm Aug 19, 2016 4:07pm | Edited 4:18pm
Quoting jmezz
YM +40
Nice trade, when price reaches a bottom or top i always pay attention to the last pivot structure before the bottom or top if it is near this level then price often retests it and forms what is called a reversal head and shoulder pattern.


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Here is what happened on the ES at the same time...

I went short at a local resistance (Red rectangle) but reversed as i saw the strength of buyers and the potential to trap the short side.

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  • #20,338
  • Edited 4:56am Aug 22, 2016 3:12am | Edited 4:56am
Hi to all harmonic traders and my teacher mr.pip.
First is to thank Mr pip for the good work he is doing by teaching us his method. To be honest to you Mr pip, I have learnt a lot and believe by the time i catch with the remaining pages I shall have moved out of the woods. @ the time of writing I am on 500 pg. I have been reading and implementing your way on the sidelines and now want to show you my work for guidance. I am new to forex but not new to financial market. have Âbeen demoing stock market in my country guided by elliott wave principles ÂÂbut since I came across your thread, I felt to have gotten what I have looking for. If you find time to respond please do and will be very pleased.
Â
below is what I am seeing on EUR USD 233tickÂ
https://i.imgur.com/kNiUzXd.png
bird eye view
https://i.imgur.com/t4zjGYR.png
expectation.
1. completion of wave 4 in green at least 38.2% of the main swing
2. shallow pullback due to strong projection and strong momentum
3. a complex like correction due to alternating characteristic of wave 2 and wave 4
plans.
to enter shot at signs of reversal to downside and ride the rally
currently in a counter trend and aggressive with my stops.
It is not over until I win
  • #20,339
  • Edited 5:57am Aug 22, 2016 5:27am | Edited 5:57am
Quoting karasinga
Hi to all harmonic traders and my teacher mr.pip. First is to thank Mr pip for the good work he is doing by teaching us his method. To be honest to you Mr pip, I have learnt a lot and believe by the time i catch with the remaining pages I shall have moved out of the woods. @ the time of writing I am on 500 pg. I have been reading and implementing your way on the sidelines and now want to show you my work for guidance. I am new to forex but not new to financial market. have been demoing stock market in my country guided by elliott wave principles...
ÂÂ
currently short. think i got in early
https://i.imgur.com/fO9CY17.png
reason for entry
1.ÂMet above expectations
2.ÂIn line with bearish order flow
Expectation
A reasonable expectation of;
1.ÂHarmonic move of 1 to 1 in green
2.ÂConfluence
a.Âwith probable end of zigzag pattern(wave c of zigzag is usually 161.8% of wave A)
b. 138.2-161.8% fib ext on the main swing
It is not over until I win
  • #20,340
  • Aug 22, 2016 9:06am Aug 22, 2016 9:06am
YM +22

Countertrend prz play.

Reached daily quota so now will watch til 11:30 and only take a very high probability setup.

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