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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

  • #21,361
  • Nov 16, 2016 3:51pm Nov 16, 2016 3:51pm
Quoting x3m-PippiN
{quote} And that's what I'm trying to explain ... where that level is..depends on the close of the candle, which differs from tick chart to tick chart. So if I place a buy limit order described by Harmonic1976's entry method and my candle closed lower than yours than my order is placed lower than yours. It's harder for me to get a fill because price has to go lower. And that's what I meant in my previous post that I was having trouble with getting filled. Because probably my tick chart wasn't accurate when I was backtesting and I was placing...
I believe you might be confused here. We are not talking about candle closes. If you are waiting for the close then you are correct but that is not what you are saying and what Harmonic1976 is saying either. You are talking about a limit order which means price must cross that level regardless of the close ob the candle or bar or whatever you are looking at.

If the exchange sets the price of an instrument at 18800 then unless your broker is filtering data which should not happen on a Futures broker because of the laws then every futures brokers chart should hit the same price at the same time. The candles open and close will not affect and is irrelevant for limit orders.

Am I stubbornly wrong here? Correct me if I am wrong. If someone knows it differently please let us know.

This happens all thew time on the Forex side because brokers do manipulate price all of the time and filter it as well. They are dirty and I don't play those games anymore. The 6E Futures is the EURUSD and you will see a difference in price from a futures broker to a Forex broker because of this.
If you fail to plan, you plan to fail.
  • #21,362
  • Nov 16, 2016 3:59pm Nov 16, 2016 3:59pm
OK, I'm out, 55 pips nett for the day. Thanks all. It is educational and I got through 3 more videos today, onto order expectation tomorrow.
  • #21,363
  • Nov 16, 2016 4:20pm Nov 16, 2016 4:20pm
Yes, you are correct about what you are saying Mr.Pip and I totally get it!But I don't think that's my point. And I've made a mistake. We are not watching the close of a candle ..we are watching the open.

The open of candle 1 is where we place our entry (following Harmonic1976 method) and when price reaches it on candle 2 the order is filled. BUT if tick data isn't 100% correct and the open of candle 1 is higher than we will place our entry higher and that way we won't get filled by 1 or 2 points. That's what I'm trying to explain. If I still didn't make it clear ... just forget it .... too much time spent on something that isn't really a big deal.
Anyways goodnight traders (it's midnight here)
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  • #21,364
  • Nov 16, 2016 4:30pm Nov 16, 2016 4:30pm
I got you now. Sorry I misunderstood the entry criteria. At the end of the day we are splitting hairs. Lol no biggie lime you say.

The live I've trading stream wil me December 15, 2019. Just kidding 2016 it's a Thursday and I will be on around 09:15 am Eastern Standard Time for pre session analysis and commentary. Please tell all your friends and see what you can do to be able to make it. It will be recorded for those that can't attend and hopefully we will have a great turn out. I will make sure the microphone is better and all systems work fine. I am super amped for the event. So let the world know.
If you fail to plan, you plan to fail.
  • #21,365
  • Nov 16, 2016 4:32pm Nov 16, 2016 4:32pm
Quoting Mr. Pip
{quote} Welcome Tman! Glad it helps, don't over think it keep it simple you mentioned with just structure analysis you were making gains so stick with that ans slowly add the other elements. It will start to click.
Thank you, and also I have been studying and trying to get sharper without always trading and trying to simulate more structure I'm just so surprised to see this isn't that hard after all!!!
  • #21,366
  • Nov 16, 2016 4:36pm Nov 16, 2016 4:36pm
Quoting x3m-PippiN
{quote} And that's what I'm trying to explain ... where that level is..depends on the close of the candle, which differs from tick chart to tick chart. So if I place a buy limit order described by Harmonic1976's entry method and my candle closed lower than yours than my order is placed lower than yours. It's harder for me to get a fill because price has to go lower. And that's what I meant in my previous post that I was having trouble with getting filled. Because probably my tick chart wasn't accurate when I was backtesting and I was placing...
I get what you're saying with the representation as your bullish "low" may be different than a typical 5min candle low provided by a retail forex broker. I use FXCM, and it's just a pattern that I saw occurring over and over, levels weren't hitting exactly harmonics and bouncing off (USUALLY) but sometimes they did.... but more often than not, the price level bounced from the zone that had confluence with the fib ratio and the area that I'm talking about with the last move up before the impulse down kind of thing.
  • #21,367
  • Nov 16, 2016 4:37pm Nov 16, 2016 4:37pm
Good to see in hindsight, target would have been hit for 61 pips. Trade management one being in a trade is going to be my major focus at this point.

I rang the register at +25, I did not capture 70% of the move I captured 41% so definitely not optimal.
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  • #21,368
  • Nov 16, 2016 4:45pm Nov 16, 2016 4:45pm
EURUSD moving upward but I think the PRZ is very strong, there is resistance at the red line area, and there is a major AB=CD completion as well as a minor AB=CD completion in that zone. Looking for selling opportunity there
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  • #21,369
  • Nov 16, 2016 4:56pm Nov 16, 2016 4:56pm
I added a bit to my analysis and went ahead and placed a pending order following the same previous entry, at the bottom of the last bullish candle before the impulse down. It corresponds nearly perfectly to the .886 retracement and that's where I would want to get short here. It actually looks like a bearish Bat pattern.
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  • #21,370
  • Nov 16, 2016 5:19pm Nov 16, 2016 5:19pm
Bearish Bat Pattern, looks like everything could potentially sync up here!
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  • #21,371
  • Nov 16, 2016 5:45pm Nov 16, 2016 5:45pm
Quoting Tman72
{quote} Thank you, and also I have been studying and trying to get sharper without always trading and trying to simulate more structure I'm just so surprised to see this isn't that hard after all!!!
It really isn't.
If you fail to plan, you plan to fail.
  • #21,372
  • Nov 16, 2016 5:54pm Nov 16, 2016 5:54pm
EURUSD [M5 Chart]

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Looking very promising to short the pair from here.

However, Tokyo is just about to startup so I'm going to wait and observe to see which direction is being pushed.

The main idea will be to get into a better trade than what I did yesterday .... that's my intention!

Masterrmind...........
Master your Mind then Master your Trades
  • #21,373
  • Nov 16, 2016 6:08pm Nov 16, 2016 6:08pm
Quoting Masterrmind
EURUSD [M5 Chart] {image} Looking very promising to short the pair from here. However, Tokyo is just about to startup so I'm going to wait and observe to see which direction is being pushed. The main idea will be to get into a better trade than what I did yesterday .... that's my intention! Masterrmind...........
EU

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1.07 Handle applied.

I'm looking very closely to see what PA does in and around this handle.

My overall bias at this stage is to the short side but lets wait and see if that gets changed.

Note: what I'd like to see is price push up again and retest upper structure before falling away then I'd nail the short entry.

ps. While price makes up its mind I think I'll grab a coffee......

Masterrmind...........
Master your Mind then Master your Trades
  • #21,374
  • Nov 16, 2016 6:21pm Nov 16, 2016 6:21pm
Previous entry as posted, taken out by trying to trail .38 behind high and price. It's ok, small profit. +78 pips for the day
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  • #21,375
  • Nov 16, 2016 6:38pm Nov 16, 2016 6:38pm
Quoting Masterrmind
{quote} EU {image} 1.07 Handle applied. I'm looking very closely to see what PA does in and around this handle. My overall bias at this stage is to the short side but lets wait and see if that gets changed. Note: what I'd like to see is price push up again and retest upper structure before falling away then I'd nail the short entry. ps. While price makes up its mind I think I'll grab a coffee...... Masterrmind...........
EU

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Now short.

Would have preferred to get in a little higher up the chart but lets see how this trade progresses.

If price breaks-out much above structure shown on the chart then I may close out the trade and look to re-enter later.

I do not want a repeat of yesterdays DD if at all possible.

Current SL is about 18 pips and current TP is about 32 pips.

Masterrmind..........
Master your Mind then Master your Trades
  • #21,376
  • Nov 16, 2016 6:42pm Nov 16, 2016 6:42pm
Quoting Masterrmind
{quote} EU {image} Now short. Would have preferred to get in a little higher up the chart but lets see how this trade progresses. If price breaks-out much above structure shown on the chart then I may close out the trade and look to re-enter later. I do not want a repeat of yesterdays DD if at all possible. Masterrmind..........
I'm hoping to get short closer to the top of structure there, will wait for a rotation there and be aggressive on the sell if/when it occurs. Hope it works out better than yesterday my friend.
  • #21,377
  • Nov 16, 2016 7:05pm Nov 16, 2016 7:05pm
I'm short also now, previous candle had rejection and the nano second the bears pushed below the previous candle, I went short.
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  • #21,378
  • Nov 16, 2016 7:39pm Nov 16, 2016 7:39pm
Looks like there was news or something, was taken out, price moved aggressively in the intended direction then shot back up. Just a statistic in probabilities
  • #21,379
  • Nov 16, 2016 8:45pm Nov 16, 2016 8:45pm
Quoting Harmonic1976
{quote} I'm hoping to get short closer to the top of structure there, will wait for a rotation there and be aggressive on the sell if/when it occurs. Hope it works out better than yesterday my friend.
EU

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Price was not intent on remaining under the 1.07 handle for very long.

So I've now closed out the trade for a handful of pips and will look to re-enter at a later time.

PA is not convincing enough for me at this stage so better I take some profit and wait for perhaps a better opportunity.

ps. my intention was to wait for price to hit the upper structure too before getting into a short but I entered a bit earlier and wore a little DD but nothing too drastic today.

Masterrmind...........
Master your Mind then Master your Trades
  • #21,380
  • Nov 16, 2016 8:50pm Nov 16, 2016 8:50pm
Quoting Masterrmind
{quote} EU {image} Price was not intent on remaining under the 1.07 handle for very long. So I've now closed out the trade for a handful of pips and will look to re-enter at a later time. PA is not convincing enough for me at this stage so better I take some profit and wait for perhaps a better opportunity. ps. my intention was to wait for price to hit the upper structure too before getting into a short but I entered a bit earlier and wore a little DD but nothing too drastic today. Masterrmind...........
Your TP was a bit under the .382 retracement of AD, if you were going to put it so close, why wouldn't you just put it slightly above so the odds of it triggering would be higher? That "news" looking candle went slightly through the .382 retracement and shot up after that. I was going to initally put it at the .382 but wanted to try to hang on longer for the .618 this time.

The PA is a little all over the place, think I will watch for a bit and if I see a clear opportunity I'll take it, otherwise it's the sidelines for me.
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