Bulls nor Bears may hide their intent.
Ratios & Harmonics: a Different Way to Trade
- #22,322
- Dec 8, 2016 1:53am Dec 8, 2016 1:53am
Hi Mr Pip,
thanks for the very helpful answer you gave me earlier.
Here is a new trade, short on GU.
We created a NSL. The momentum was a bit slowing down in the second leg down and we got a deep correction. I'm cautious but did take the trade. Is my analysis correct? Would you also have taken the trade?
Is the peak which I marked as LH really a lower high? It is a very shallow pullback and I was a bit unsure if it really meets the criteria of LH.
Thanks
thanks for the very helpful answer you gave me earlier.
Here is a new trade, short on GU.
We created a NSL. The momentum was a bit slowing down in the second leg down and we got a deep correction. I'm cautious but did take the trade. Is my analysis correct? Would you also have taken the trade?
Is the peak which I marked as LH really a lower high? It is a very shallow pullback and I was a bit unsure if it really meets the criteria of LH.
Thanks
- #22,327
- Dec 8, 2016 3:40am Dec 8, 2016 3:40am
Hi Mr Pip, thanks for the very helpful answer you gave me earlier. Here is a new trade, short on GU. We created a NSL. The momentum was a bit slowing down in the second leg down and we got a deep correction. I'm cautious but did take the trade. Is my analysis correct? Would you also have taken the trade? Is the peak which I marked as LH really a lower high? It is a very shallow pullback and I was a bit unsure if it really meets the criteria of LH. Thanks {image}
Another trade: Long EA
We had a NSH with string momentum but we also had a deep correction. I took the trade because we had 4 H1 candles with the support and a nice pinbar before.
What do you think? TP based on harmonics and the deep correction is the last NSH.
- #22,329
- Edited 4:36am Dec 8, 2016 4:16am | Edited 4:36am
- | Joined Sep 2016 | Status: Trader | 585 Posts
6J (JPY/USD futures) 89 tick chart
Long the market.
L/t expectation for NSH
S/t expectation for NSH
i did not like the momentum of the down leg but I was confident because I was following the expectation for a deep correction and NSH afterwards
Got through some pain but I put my stop at BE because there is strong structure.
Edit: stop at BE+5 ticks ... will most likely leave it to take me out or to reach 1:1 harmonic
Edit: stopped out
Long the market.
L/t expectation for NSH
S/t expectation for NSH
i did not like the momentum of the down leg but I was confident because I was following the expectation for a deep correction and NSH afterwards
Got through some pain but I put my stop at BE because there is strong structure.
Edit: stop at BE+5 ticks ... will most likely leave it to take me out or to reach 1:1 harmonic
Edit: stopped out
- #22,337
- Dec 8, 2016 6:34am Dec 8, 2016 6:34am
Well 6J completed the 1:1 but I was stopped out. Do you guys think I was too aggressive with my stop ? {image}
For me price moves to b/e once price starts to test the highs/B (in this example) of the potential ABCD.
In this situation I think you protected your trade just fine. On to the next one as Mr. Pip would say
Rise and rise again until lambs become lions
- #22,340
- Dec 8, 2016 7:24am Dec 8, 2016 7:24am
- | Joined Mar 2016 | Status: Trader | 1,068 Posts
YM this morning
No edge in ON.
Range-bound up here near 361.8 so very extended but we are spending time up here so price is accepting these levels so far.
Either play edges or wait for a break of 1 side and retest.
I am not good at playing edges in ranges so I will most likely be waiting until 1 side breaks and see if a retest occurs.
IF we break lower will be keeping in mind untested breakouts and also may be able to use the extensions as targets on the way down.
We'll see.
No edge in ON.
Range-bound up here near 361.8 so very extended but we are spending time up here so price is accepting these levels so far.
Either play edges or wait for a break of 1 side and retest.
I am not good at playing edges in ranges so I will most likely be waiting until 1 side breaks and see if a retest occurs.
IF we break lower will be keeping in mind untested breakouts and also may be able to use the extensions as targets on the way down.
We'll see.