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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

  • #21,241
  • Nov 15, 2016 11:21am Nov 15, 2016 11:21am
Quoting jmezz
{quote} Nice work on this one man. Seems like you are aligning yourself with the market very well the past few weeks. {quote} Thank you. I think the chart of that order flow needs to be filed as a textbook example of weakening price action followed by orderflow change then reversal. {quote} Anytime! I hope you end up liking your new broker.
Thanks dude. I felt like I got pretty luck on this one tho. Not getting clipped at BE for what ever reason.

Been work lots of overtime so I haven't had much chair time. Got to build the account by any means possible tho.

I'm jealous of your consistence tho. I can only imagine your ROE this year. keep it up
  • #21,242
  • Nov 15, 2016 11:26am Nov 15, 2016 11:26am
Quoting stavrogijn
{quote} Hey Mr. Pip, I took about the same trade, but wanted to give it some room to fulfill the expectation. In the end I got taken out in the middle of the swing, which makes me think I left too much on the table. Can you give your reasoning why you trailed more aggressively in this case: the trade was just interacting with the first structure (this is where you go to BE+5 normally)? How do you others think? (Further notes on charts.) My trade: {image} 2nd and 3rd trade: {image}
Sorry I missed you question. I got aggressive because order flow to the downside should significant breakdown but the expectation was for a NSL which is why I took the entry. I locked in aggressively slightly above the ABCD that completed and seeing that that area offered good buying to the left so I locked in around 20 points and still gave it a little room for more but my sentiment was correct the bears did not have enough to keep going.
If you fail to plan, you plan to fail.
  • #21,243
  • Nov 15, 2016 11:28am Nov 15, 2016 11:28am
I am currently looking for long entry (1:1 harmonic) on YM, once we get a deep retracement. Any objections of the current swing?
  • #21,244
  • Nov 15, 2016 11:28am Nov 15, 2016 11:28am
Quoting stavrogijn
{quote} Mine. But it is from today, so I certainly do not want to rush ya .
Answered, sorry I missed it. Its tough sometimes to catch them all.
If you fail to plan, you plan to fail.
  • #21,245
  • Nov 15, 2016 11:31am Nov 15, 2016 11:31am
US30 -89T

This is my road map this morning.

L/T order flow is still Bullish (HL to NSH) and Price has made a complex correction (3Drives) the last few days. Common sense is telling me to look for longs once s/t order flow aligns. So, why is it that I feel like waiting for a short might be a better option?

Attached Image (click to enlarge)
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  • #21,246
  • Nov 15, 2016 11:33am Nov 15, 2016 11:33am
Quoting Mack2013
US30 -89T This is my road map this morning. L/T order flow is still Bullish (HL to NSH) and Price has made a complex correction (3Drives) the last few days. Common sense is telling me to look for longs once s/t order flow aligns. So, why is it that I feel like waiting for a short might be a better option? {image}
I was late and need an entry. As I said, I would look for a long, but not sure.

We made in the immediate PA a small NSH => deep retracement and then 1:1 up. This is the idea.
  • #21,247
  • Nov 15, 2016 11:33am Nov 15, 2016 11:33am
Quoting Harmonic1976
I started trading Forex in August last year. Since beginning, my account was steadily heading south. At the end of February, after trying a few different "systems", none of them seemed to work for me and I ended up discovering Forex Factory and this thread. As you can see that March was very little drawdown (just started practicing the methodology) and then I had to take a break for a few months. I came back at the end of October fresh and was near break even. Following Mr. Pips methodology so far has me up 20% for this month. I nearly lost my 1st...
good work. it feels good to make money uh?
  • #21,248
  • Nov 15, 2016 11:35am Nov 15, 2016 11:35am
Quoting evocpr19
I am currently looking for long entry (1:1 harmonic) on YM, once we get a deep retracement. Any objections?
I'm going to stay away for the rest of the session. There may be a shorting opportunity between 18800 and 18017. 18804 completes a 1:1 exhaustion lies at 18811 for the bulls but orders are being accumulated on both sides this one could blow either way. If she drops expect support around 18700 good structure there. Expect the bears to come in around 18827 and again around 18876.

Going to get lunch I'll be back later to catch up. Thank you all for the participation and to Mastermind for taking the time to provide his detailed thought process.
If you fail to plan, you plan to fail.
  • #21,249
  • Nov 15, 2016 11:57am Nov 15, 2016 11:57am
Quoting evocpr19
{quote} I was late and need an entry. As I said, I would look for a long, but not sure. We made in the immediate PA a small NSH => deep retracement and then 1:1 up. This is the idea.
Uhmmm. I see what your saying. No entry yet tho
  • #21,250
  • Nov 15, 2016 11:59am Nov 15, 2016 11:59am
Quoting Mack2013
{quote} Uhmmm. I see what your saying. No entry yet tho
me too
  • #21,251
  • Nov 15, 2016 1:02pm Nov 15, 2016 1:02pm
Supply marked by rectangle is a tough barrier
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It's a dirty job but someone's gotta do it!
  • #21,252
  • Nov 15, 2016 1:05pm Nov 15, 2016 1:05pm
Quoting LaBoca
Supply marked by rectangle is a tough barrier {image}
let's see
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It's a dirty job but someone's gotta do it!
  • #21,253
  • Nov 15, 2016 1:15pm Nov 15, 2016 1:15pm
Quoting LaBoca
Supply marked by rectangle is a tough barrier {image}
Cheers LaBoca, I am out for +3. I do not like when price hangs for long time in the same area. This was a mistake as I have just seen, but ok I feel more comfortable and have still some profit.
  • #21,254
  • Nov 15, 2016 2:32pm Nov 15, 2016 2:32pm
Quoting evocpr19
{quote} Cheers LaBoca, I am out for +3. I do not like when price hangs for long time in the same area. This was a mistake as I have just seen, but ok I feel more comfortable and have still some profit.
you can never tell....you just have to roll with it, sometimes it pays off and sometimes it doesn't...
It's a dirty job but someone's gotta do it!
  • #21,255
  • Nov 15, 2016 3:10pm Nov 15, 2016 3:10pm
Quoting LaBoca
{quote} let's see {image}

tightening it up
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It's a dirty job but someone's gotta do it!
  • #21,256
  • Nov 15, 2016 3:16pm Nov 15, 2016 3:16pm
Quoting LaBoca
{quote} tightening it up {image}
Great run way to go!!
If you fail to plan, you plan to fail.
  • #21,257
  • Nov 15, 2016 3:54pm Nov 15, 2016 3:54pm
Quoting LaBoca
{quote} tightening it up {image}

Almost end of day so will close it off soon
Attached Image (click to enlarge)
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It's a dirty job but someone's gotta do it!
  • #21,258
  • Nov 15, 2016 4:35pm Nov 15, 2016 4:35pm
thank you! I can see what you mean and thanks for the details provided in the chart. I kick myself in the head once I look at it from that perspective.
Quoting crixus
{quote} The Eur/USD was in a strong down trend last week so the expectation is to see the bears defend their territory at every occusasion. Your trade occured near a strong resistance. Sellers took advantage of it 3 times. IMO, this was a key area. In the markets, you see lots of manipulation to attract the weak hands to bet against the dominant trend in other to help strong hands to improve their average price until the overall sentiment changes. I understand your trade but nothing prevents you to flip direction when you see you are wrong. {image}...
  • #21,259
  • Nov 15, 2016 4:40pm Nov 15, 2016 4:40pm
Thank you jmezz, everything is slowly sinking in! Should have thought about deep correction once expectation failed.
Quoting jmezz
{quote} In addition to Crixus' and Damian's tips, this is a good example of how using the 1:1 correction would help. It never hurts to keep it in mind and see if you can build confluence around the completion point. Edit - Also wanted to say that trading off the 382 is difficult. I notice a lot of failures at this level and I try to avoid trading off of it although there are some instances where it provides a good possible trade. {image}
  • #21,260
  • Nov 15, 2016 4:57pm Nov 15, 2016 4:57pm
Quoting jlares
Thank you jmezz, everything is slowly sinking in! Should have thought about deep correction once expectation failed.{quote}
Don't beat yourself up. Always trade with an expectation. If price is not meeting your expectation ask yourself why and look at the clues that price is telling you.
If you fail to plan, you plan to fail.
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