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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

  • #21,161
  • Nov 14, 2016 5:53am Nov 14, 2016 5:53am
Quoting Masterrmind
EURUSD [M5 Chart] {image} Looking for an opportunity to short this pair. Masterrmind............
I already took the short, I think I could have got in better if I had more patience.
  • #21,162
  • Nov 14, 2016 6:07am Nov 14, 2016 6:07am
Quoting Masterrmind
{quote} EU {image} Building a case for entry. Provided price remains below the 100% Fib level my bias is to the shirt side but above it I may look for long setups. Masterrmind...........
EU

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-M5-MASTERRMIND_2016-3.png Size: 36 KB


Now short 4 lots.

Stop will be tightened up as trade progresses especially once price reaches close to the 382 Fib area but more related to mini support zone.

Note 1: notice how price just tagged the 786 (my favorite reversal ratio).

Masterrmind............
Master your Mind then Master your Trades
  • #21,163
  • Nov 14, 2016 6:16am Nov 14, 2016 6:16am
So, just so I'm clear, we're looking for a new structure low now? Bar with me I'm only on video 2, late comer.
  • #21,164
  • Nov 14, 2016 6:19am Nov 14, 2016 6:19am
Quoting BenScoobert
{quote} I already took the short, I think I could have got in better if I had more patience.
Yes patience is a very difficult one to master.

Its very important to build this skill though.

ps. no-one ever gets this perfect though ... no-one!

Masterrmind.............
Master your Mind then Master your Trades
  • #21,165
  • Nov 14, 2016 6:20am Nov 14, 2016 6:20am
Quoting BenScoobert
So, just so I'm clear, we're looking for a new structure low now? Bar with me I'm only on video 2, late comer.
Correct!

You'll see where my 1:1 is drawn on the EU chart about the 1.07100 level.

Bare in mind that I tend to take less than the optimal pips from a given move so I may bail out well before others do.

Masterrmind..........
Master your Mind then Master your Trades
  • #21,166
  • Nov 14, 2016 7:12am Nov 14, 2016 7:12am
Quoting Masterrmind
{quote} Correct! You'll see where my 1:1 is drawn on the EU chart about the 1.07100 level. Bare in mind that I tend to take less than the optimal pips from a given move so I may bail out well before others do. Masterrmind..........
I moved my sl to 2 pips above the close of the last M15, just been taken out, a slight nett loss for the good trade and the impatient one. Maybe I covered my ass too early, maybe not. See how it plays out form here.

EDIT: impatient or not, I'm short again, re-entered from a 2.1 pips better place. Right off the 61.8fib.
  • #21,167
  • Nov 14, 2016 7:36am Nov 14, 2016 7:36am
Quoting Masterrmind
{quote} Correct! You'll see where my 1:1 is drawn on the EU chart about the 1.07100 level. Bare in mind that I tend to take less than the optimal pips from a given move so I may bail out well before others do. Masterrmind..........
EU

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-M5-MASTERRMIND_2016-4.png Size: 33 KB


I took +7.3 pips out of it.

There is always an opportunity to look for a re-entry if desired.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,168
  • Nov 14, 2016 7:46am Nov 14, 2016 7:46am
Quoting BenScoobert
{quote} I moved my sl to 2 pips above the close of the last M15, just been taken out, a slight nett loss for the good trade and the impatient one. Maybe I covered my ass too early, maybe not. See how it plays out form here. EDIT: impatient or not, I'm short again, re-entered from a 2.1 pips better place. Right off the 61.8fib.
Yes you might get a better ride down from here.

I'm in and out for a handful of pips.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-M5-MASTERRMIND_2016-5.png Size: 41 KB


Time for rest.

Masterrmind............
Master your Mind then Master your Trades
  • #21,169
  • Nov 14, 2016 8:02am Nov 14, 2016 8:02am
Great trading mastermind
  • #21,170
  • Nov 14, 2016 8:09am Nov 14, 2016 8:09am
Took a short with US30. I saw mid correction after NSL at intermediate structure and 1:1 at micro structure.
Attached Image (click to enlarge)
Click to Enlarge Name: US30USDM5.png Size: 59 KB
  • #21,171
  • Nov 14, 2016 8:16am Nov 14, 2016 8:16am
Nice analysis on EU mastermind!
  • #21,172
  • Nov 14, 2016 8:41am Nov 14, 2016 8:41am
First Trade +20
Attached Image (click to enlarge)
Click to Enlarge Name: YM 12-16 (233 Tick) 11_14_2016.jpg Size: 119 KB
If you fail to plan, you plan to fail.
  • #21,173
  • Nov 14, 2016 8:51am Nov 14, 2016 8:51am
Quoting Masterrmind
{quote} Yes you might get a better ride down from here. I'm in and out for a handful of pips. {image} Time for rest. Masterrmind............
Agreed, banked 53 pips, nice psychological goal to cover the day's earlier losses from impatience.
We have a NSL, I'm expecting a LH, so attempting a cheeky long here. Countertrend though, got my eye on it.
  • #21,174
  • Nov 14, 2016 9:09am Nov 14, 2016 9:09am
Quoting steos
Took a short with US30. I saw mid correction after NSL at intermediate structure and 1:1 at micro structure. {image}
Just took 30 points. Didn't want to hold during Draghi speech.
  • #21,175
  • Nov 14, 2016 9:13am Nov 14, 2016 9:13am
Attached Image


NinjaTrader 8 Now Available
http://ninjatrader.com/blog/introducing-ninjatrader-8/
  • #21,176
  • Nov 14, 2016 9:18am Nov 14, 2016 9:18am
Looking for a possible Gartley to complete on the YM at around 890-895 for a shorting opportunity haven't taken anything else.
If you fail to plan, you plan to fail.
  • #21,177
  • Nov 14, 2016 9:50am Nov 14, 2016 9:50am
Quoting crixus
{image} NinjaTrader 8 Now Available http://ninjatrader.com/blog/introducing-ninjatrader-8/
I was just looking for better charting software today. NT is a bit steep, what are people using? MT4 sucks!
  • #21,178
  • Nov 14, 2016 10:01am Nov 14, 2016 10:01am
Well the bulls are having issues correcting. Price is not really coming into areas where I feel comfortable taking shorts. So far only that one entry for me, I've been ahead of price the whole session but it has not come to me to engage.
If you fail to plan, you plan to fail.
  • #21,179
  • Nov 14, 2016 10:07am Nov 14, 2016 10:07am
I will be addressing some of the post from yesterday and overnight later on today. There are some thing I want to point out and cover.
If you fail to plan, you plan to fail.
  • #21,180
  • Nov 14, 2016 10:31am Nov 14, 2016 10:31am
Quoting Mr. Pip
First Trade +20 {image}
Made today 100+ pips on EUR/CHF implementing your teachings
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