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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

  • #22,541
  • Dec 14, 2016 9:35pm Dec 14, 2016 9:35pm
This is what I would predict will happen at the London open, a break down to trap traders in and then a retest of the upper value area. Of course none of us could know any outcome.
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  • #22,542
  • Dec 14, 2016 9:43pm Dec 14, 2016 9:43pm
Quoting Harmonic1976
This is what I would predict will happen at the London open, a break down to trap traders in and then a retest of the upper value area. Of course none of us could know any outcome. {image}
If price looks to head down as you suggest I would anticipate this to occur just before or during Frankfurt Open.

If price does drop I may quickly close out the trades and then re-enter long closer to London Open.

ps. my bias on EA remains unchanged at this stage and is clearly up but the market is the boss so lets see.

Masterrmind............
Master your Mind then Master your Trades
  • #22,543
  • Dec 14, 2016 9:52pm Dec 14, 2016 9:52pm
EURAUD [M5 Chart]

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Short term order flow is attempting to drive price higher.

However, price is being held below the 38.2 Fib/resistance level.

So I need the bulls to continue this battle and drive right through the barriers.

ps. depending what price does closer to Frankfurt the option is always there to lose one of the longs.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,544
  • Dec 14, 2016 10:04pm Dec 14, 2016 10:04pm
Quoting Masterrmind
EURAUD [M5 Chart] {image} Short term order flow is attempting to drive price higher. However, price is being held below the 38.2 Fib/resistance level. So I need the bulls to continue this battle and drive right through the barriers. ps. depending what price does closer to Frankfurt the option is always there to lose one of the longs. Masterrmind...........
EA

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Closed out for some profit after a very small pop up in price.

Prefer to re-enter either after Frankfurt or during the London session.

Good start to the trading day although it has been quite a few hours gaining a few pips.

ps. looking at the savage bearish candle I would argue it was a good idea to exit when I did.

pps. lets see if price bounces off the trendline or continues lower ... lower is ok since I'm out of the trades and it offers a better price on re-entry.

Masterrmind............
Master your Mind then Master your Trades
  • #22,545
  • Dec 14, 2016 10:11pm Dec 14, 2016 10:11pm
Hey Masterrmind, I just wanted to ask a question. I've noticed that vary often you take profits very soon and your R:R isn't very good (my observations only). I have been following your trades for the last 1 or 2 months and I haven't seen you get stopped out many times so I don't know what exactly is your trade management but aren't you hurting your expectancy by not letting your trades run ?
  • #22,546
  • Dec 14, 2016 10:29pm Dec 14, 2016 10:29pm
Quoting x3m-PippiN
Hey Masterrmind, I just wanted to ask a question. I've noticed that vary often you take profits very soon and your R:R isn't very good (my observations only). I have been following your trades for the last 1 or 2 months and I haven't seen you get stopped out many times so I don't know what exactly is your trade management but aren't you hurting your expectancy by not letting your trades run ?
You are right about the expectancy and the r:R.
You are also right about my extremely high strike rate when it comes to trading.

I tend to trade the Asian session quite a lot (but also London + NY) and when trades take longer to complete I apply a judgement call.

The judgement call is simply my decision to either keep trades open or close them out based on how I view risk on a given trade(s) at the time.

My view can also change dynamically as PA prints across the chart and so I assess multiple factors in a timely manner.

At the end of the day of course I'd like to show a 50+ pip winning trade (and I will sooner or later) but I'm also after profit from only a handful of pips which means if I'm happy with the take on a given day then I'll close out a trade and remove the risk even if it means a nasty expectancy stat.

Very hard to argue against this latest judgement call I made ...... although not all work out this precise.

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ps. I will eventually show multiple trades with favorable r:R so keep a lookout for some live examples.

Masterrmind.............
Master your Mind then Master your Trades
  • #22,547
  • Dec 14, 2016 11:03pm Dec 14, 2016 11:03pm
EURAUD [M5 Chart]

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Price happy to continue falling at this stage so we simply follow it.

Aware that a change in direction is certainly possible coming out of the Frankfurt session.

I may look to go short or long depending on the progress of PA.

Observation time!

Masterrmind............
Master your Mind then Master your Trades
  • #22,548
  • Dec 14, 2016 11:20pm Dec 14, 2016 11:20pm
GBPJPY [M5 Chart]

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Looking for an opportunity on this pair.

Masterrmind............
Master your Mind then Master your Trades
  • #22,549
  • Dec 15, 2016 12:14am Dec 15, 2016 12:14am
Big day folks! Mr. Pips Live Stream. Can't wait!

Took a short on AUDUSD 233 tick chart. Price had an increase on momentum and a pullback to the 61.8 fib in an area of some pretty good structure. Trades on, lets see where it goes.
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Damn The Torpedoes, Full Speed Ahead!
  • #22,550
  • Dec 15, 2016 12:28am Dec 15, 2016 12:28am
Price has tested structure, moved SL to BE.
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Damn The Torpedoes, Full Speed Ahead!
  • #22,551
  • Dec 15, 2016 12:48am Dec 15, 2016 12:48am
Quoting DizzleFX
Price has tested structure, moved SL to BE. {image}
Well, stopped out +2 pips for the day.
Damn The Torpedoes, Full Speed Ahead!
  • #22,552
  • Dec 15, 2016 1:26am Dec 15, 2016 1:26am
Quoting rocky
{quote} Good morning Stavrogijn, I define my Bid/Offer criteria by looking for Bid/Offer Imbalances at certain area's of interest on my charts. When there is a strong Imbalance this tells me that a large number of contracts are entering one side of the market at a certain price point. In the example I posted, to the upper left you'll see Bids in blue and Offers in green. There's about a 1 vs. 3 trade imbalance. The Offers have been lifted, the buyers are taking control, or have they? Did they all just get trapped? Hum... If they have then feeding...
Thank you for explaining. I am trying to understand this, because this analysis seems to be giving you a very high Win%. So in a supply zone you are looking for a big disparity in bid/ask to the downside and short when you see it (and vice versa)? This is just the last step in a longer process, yes?
  • #22,553
  • Dec 15, 2016 1:41am Dec 15, 2016 1:41am
6J 89 tick chart

Got long but it hurts at the moment
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  • #22,554
  • Dec 15, 2016 1:52am Dec 15, 2016 1:52am
And stopped out.

-25 ticks
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  • #22,555
  • Dec 15, 2016 3:17am Dec 15, 2016 3:17am
Quoting Masterrmind
GBPJPY [M5 Chart] {image} Looking for an opportunity on this pair. Masterrmind............
GJ

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Expectation met however a continuation by the bulls to the 161.8 ext.

Option to short down now or wait for a pullback into structure somewhere near the 148 handle and then look to enter on a bullish continuation up.

Who is game to trade this beauty? Awareness of impending volatility (news) is yet another consideration.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,556
  • Dec 15, 2016 3:28am Dec 15, 2016 3:28am
Quoting Masterrmind
{quote} GJ {image} Expectation met however a continuation by the bulls to the 161.8 ext. Option to short down now or wait for a pullback into structure somewhere near the 148 handle and then look to enter on a bullish continuation up. Who is game to trade this beauty? Awareness of impending volatility (news) is yet another consideration. Masterrmind...........
Hey Mastermind,
Nice Trade! I see the price is dropping..

I have a question about your chart,
On your chart the price reach the Fibo Extension to 161.8 but on mine it only reach 141.

How do you drag the Fibo Extension?

For me,
I drag it from the Bottom first green line to the Head of the second green line.

Also, where is your TP?

Thanks!
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  • #22,557
  • Dec 15, 2016 3:31am Dec 15, 2016 3:31am
Quoting Masterrmind
{quote} In the heat of battle ... I welcome constructive criticism. Masterrmind............
Your comment implies my question was a negative criticism. It was not. if you read it again you'll see i asked if you considered a re-entry which you did not answer. I pointed out why i considered your entry a low probability by considering what was on the left side of your entry. Next time i will try to express my admiration and gratitude to improve my chance to get a proper answer.
  • #22,558
  • Dec 15, 2016 3:34am Dec 15, 2016 3:34am
AJ 3M is coming back into structure and fibzone with harmonics.
I'm looking to enter long if price shows signs of reversing at this level for a continuation trade
Thoughts?
Cheers
Wig
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Bulls nor Bears may hide their intent.
  • #22,559
  • Dec 15, 2016 3:41am Dec 15, 2016 3:41am
Quoting Dfn
{quote} Hey Mastermind, Nice Trade! I see the price is dropping.. I have a question about your chart, On your chart the price reach the Fibo Extension to 161.8 but on mine it only reach 141. How do you drag the Fibo Extension? For me, I drag it from the Bottom first green line to the Head of the second green line. Thanks! {image}
Maybe this chart will help.

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Note that I am not currently trading GJ and therefore do not have a TP marked.

ps. be aware of the GBP Official bank Rate due out in about 20 minutes.

pps. note also that the far right CD leg is a floating leg which means it is not yet anchored since price could easily fall further if it wishes.

Masterrmind.........
Master your Mind then Master your Trades
  • #22,560
  • Dec 15, 2016 3:57am Dec 15, 2016 3:57am
Quoting crixus
{quote} Your comment implies my question was a negative criticism. It was not. if you read it again you'll see i asked if you considered a re-entry which you did not answer. I pointed out why i considered your entry a low probability by considering what was on the left side of your entry. Next time i will try to express my admiration and gratitude to improve my chance to get a proper answer.
I do not view your comment as negative.

In fact I'm very pleased you offered such an observation so thankyou very much.

I tried to explain why I view the entry as not a low probability trade based on what I saw at the time I was trading which was order flow to the downside.

My entry was just under the DO line and I was looking for a continued push away to the downside in line with short term order flow.
This play turns into many winners but on this occasion I was met with DD ... it happens sometimes.

Many times the pop up out of a consolidated area can be short-lived and followed by a continuation with the current order flow so in this trade I was not really concerned but I was aware of it.

This was very short lived and price pulled up against my position but remained inside where my stop was placed.
The trade would have been a clear winner if allowed to complete but I didn't follow through based on my own criteria for closing out the trade.

At the time I chose not to re-enter this pair.

Thanks again for your observation and questions ... they are always welcomed and encouraged.

Masterrmind...........
Master your Mind then Master your Trades
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