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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

  • #22,401
  • Dec 11, 2016 8:45pm Dec 11, 2016 8:45pm
Quoting Tman72
{quote} On your chart, is that a bearish gartley pattern?
Don't know. I have little experience with Harmonics. I just notice price action sequences that tend to be quite reliable.
  • #22,402
  • Dec 11, 2016 9:02pm Dec 11, 2016 9:02pm
Quoting Winston Reed
{quote} Don't know. I have little experience with Harmonics. I just notice price action sequences that tend to be quite reliable.
I don't trade single candles such as a pin bar, or outside bar or inside bar but these bars do have significant value when interpreting the flow of price in light of buyers and sellers and in the context of one's trading paradigm. Here I believe swings are emphasized in a certain way and in many ways swings or waves and how we interpret them are everything in trading.
  • #22,403
  • Dec 12, 2016 2:52am Dec 12, 2016 2:52am
Quoting hocweb
how we consider ratio and harmonics ?
Hi hocweb and welcome!
If you want to get started you should check out the first post (http://www.forexfactory.com/showthread.php?t=402253) and follow the instructions from there.
Rise and rise again until lambs become lions
  • #22,404
  • Dec 12, 2016 4:30am Dec 12, 2016 4:30am
Couple of quick trades on GJ [M5 Chart]

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Looking for other setups.

Note: long entry in the direction of my expectation for the GJ pair and the short entry was a fast in fast out opportunistic entry on a mini pullback from the 618 Fib level of the relevant leg.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,405
  • Dec 12, 2016 5:12am Dec 12, 2016 5:12am
GJ [M5 Chart]

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Looking for an opportunity to go long.
Would like to see price drop down a bit lower before pulling the trigger but lets see.

Stop under the recent swing low is about 40 pips down from current price and TP is about 100 pips above current price.
Certainly prefer to limit the risk on the trade hence wanting a lower entry before going long.

If I do enter as price drives on up the chart then I'll apply about a 15-25 pip stop.

Note: If I enter this trade I will post it at the time.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,406
  • Dec 12, 2016 5:54am Dec 12, 2016 5:54am
Quoting Masterrmind
GJ [M5 Chart] {image} Looking for an opportunity to go long. Would like to see price drop down a bit lower before pulling the trigger but lets see. Stop under the recent swing low is about 40 pips down from current price and TP is about 100 pips above current price. Certainly prefer to limit the risk on the trade hence wanting a lower entry before going long. If I do enter as price drives on up the chart then I'll apply about a 15-25 pip stop. Note: If I enter this trade I will post it at the time. Masterrmind...........
Price took off up the chart on GJ.

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No additional entry at this stage.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,407
  • Dec 12, 2016 8:18am Dec 12, 2016 8:18am
GM Traders, I'm looking to take advantage of the 144T chart today and the shorter term or more immediate order flow. The outlook for today is bearish with some breakdown producing deep corrections. These are the bears trying to keep market bullish. The goal is to be more productive and efficient. The goal to to trade the short term order flow and have more opportunities and shorter trades in duration to minimize exposure and rack up points. The trade plan is the same as always but by trading the smaller tick value we get more frequency and smaller target and stops. This is what the battlefield looks like today.
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If you fail to plan, you plan to fail.
  • #22,408
  • Dec 12, 2016 8:25am Dec 12, 2016 8:25am
either YM is not moving or my mt4 does not work.
  • #22,409
  • Dec 12, 2016 8:35am Dec 12, 2016 8:35am
Quoting evocpr19
either YM is not moving or my mt4 does not work.
It's moving
If you fail to plan, you plan to fail.
  • #22,410
  • Dec 12, 2016 8:45am Dec 12, 2016 8:45am
YM +21

Might look to short around 19777 if we get there and see weakening.

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  • #22,411
  • Dec 12, 2016 8:54am Dec 12, 2016 8:54am
Quoting crixus
{quote} You're really a contrarian trader. Most if not all of your trades have been on the short side despite the strength of this bullish sequence since the election. Did you notice it?
Yeah I think issue is that I feel very comfortable playing a certain type of pattern out of the prz. PA hasn't really given many of those patterns to play to the upside, they've been occurring after price extension to the upside.

The other issue is that I feel a lot more comfortable playing smaller swings. The longs last week were what I consider larger patterns and mentally it's harder for me to take those because I've had less success trading that way.

But I definitely realize I missed out on some major PA so it's something I'm looking into.
  • #22,412
  • Dec 12, 2016 8:55am Dec 12, 2016 8:55am
Also I'm thinking of trying something new with my quota per one of Damian's suggestions.

I think I'm going to shrink my quota to 50 YM pts per week and if / when that quota is reached, take a more relaxed approach to letting my trades run.

We'll see how that goes.
  • #22,413
  • Dec 12, 2016 9:00am Dec 12, 2016 9:00am
Rookie mistake wanted to get long and sold instead LOL what a screw up managed to get out with no loss got lucky.
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If you fail to plan, you plan to fail.
  • #22,414
  • Dec 12, 2016 9:00am Dec 12, 2016 9:00am
YM

Have my zone outlined here in the gold however we put in a decent base. It might be a little early but this looks like it could morph to a cup n handle. Just something that I'm keeping in the back of my mind.

Not sure if I'll take the short.

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  • #22,415
  • Dec 12, 2016 9:15am Dec 12, 2016 9:15am
YM +4.

Think I'm done for today.

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  • #22,416
  • Dec 12, 2016 9:24am Dec 12, 2016 9:24am
Good morning Mr.Pip and traders,

I was just wondering what time did you expect to hold the webinar on the 15th?
  • #22,417
  • Dec 12, 2016 9:33am Dec 12, 2016 9:33am
Quoting Mack2013
Good morning Mr.Pip and traders, I was just wondering what time did you expect to hold the webinar on the 15th?
I think he starts them around 9am ET so I'm thinking around then.
  • #22,418
  • Dec 12, 2016 9:34am Dec 12, 2016 9:34am
Quoting Mack2013
Good morning Mr.Pip and traders, I was just wondering what time did you expect to hold the webinar on the 15th?
0915 Eastern Time
If you fail to plan, you plan to fail.
  • #22,419
  • Dec 12, 2016 9:56am Dec 12, 2016 9:56am
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  • #22,420
  • Dec 12, 2016 10:39am Dec 12, 2016 10:39am
Price reaching upper zone. Buy or sell ok. Ultimate price target 20587 area. 5 minute sellers at 50%
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