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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

  • #22,561
  • Dec 15, 2016 6:09am Dec 15, 2016 6:09am
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...........
GJ

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Still dropping like a rock off the edge of a cliff due mostly to GBP data release.

Masterrmind...........
Master your Mind then Master your Trades
  • #22,562
  • Dec 15, 2016 6:30am Dec 15, 2016 6:30am
EURAUD [M5 Chart]

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Re-adjustment of analysis.

Looking to go long from somewhere close to the 1.41 handle.

Plenty of bearish activity so any long entry needs to be carefully managed.

Masterrmind............
Master your Mind then Master your Trades
  • #22,563
  • Dec 15, 2016 6:35am Dec 15, 2016 6:35am
Quoting Masterrmind
EURAUD [M5 Chart] {image} Re-adjustment of analysis. Looking to go long from somewhere close to the 1.41 handle. Plenty of bearish activity so any long entry needs ti be carefully managed. Masterrmind............
EA

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Price has now hit the handle.

Strong bearish action so lets wait for some bullish intent (if in fact we see it).

Another option is to wait for price to hit the blue zone on the chart and look to short it down.

Observation time!

Masterrmind.............
Master your Mind then Master your Trades
  • #22,564
  • Dec 15, 2016 7:13am Dec 15, 2016 7:13am
Quoting Masterrmind
{quote} Maybe this chart will help. {image} 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.........
Thank you for your reply Mastermind.

I have some more questions regarding to your post,
1. You said the the far right CD legs is not yet anchored. Do you mean by not yet anchored, there is no Support n Resistance line around that area or there is other aspect?

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...........
2. You said that the expectation is met, is that your expectation or market expectation?
3. What makes the expectation? is it because the first CD leg is not respected by the price and continue it bulls?
4. How do you decide the expectation is met or not? If the price reach 161 the expectation are met? Or other things?

Thank you

Sorry for long question
  • #22,565
  • Dec 15, 2016 7:14am Dec 15, 2016 7:14am
Good Morning Traders,

Today is the day. The live stream is here. We will be trading the YM today where you will once again have an opportunity to see how this process gets put together and how I implement my trade plan and how we manage trades. I will also take a bit about trading psychology. I hope you are able to attend. I will be posting the link in just under an hour which give you all plenty of time to grab a bite or whatever prior to getting down to business. Talk to you guys in a little bit.
If you fail to plan, you plan to fail.
  • #22,566
  • Dec 15, 2016 7:36am Dec 15, 2016 7:36am
Quoting Dfn
{quote} Thank you for your reply Mastermind. I have some more questions regarding to your post, 1. You said the the far right CD legs is not yet anchored. Do you mean by not yet anchored, there is no Support n Resistance line around that area or there is other aspect? {quote} 2. You said that the expectation is met, is that your expectation or market expectation? 3. What makes the expectation? is it because the first CD leg is not respected by the price and continue it bulls? 4. How do you decide the expectation is met or not? If the price reach...
Please search for expectation explanations within this thread to gain an understanding.

If you project a CD leg then you are forming an expectation that the market will drive price to this level.
Once price reaches the D point then you might trade in the opposite direction to the CD leg as a reversal after an ABCD pattern completes.
Or you might have to wait for either bullish or bearish activity to occur before you enter a trade.

If price fails to hit this level then you have an expectation failure.
In this situation you might want to wait for other pre-determined conditions to be met or simply watch PA unfold and seek to explore a different setup.

So an expectation is some market condition that you expect to occur after you have made an initial prediction.

Masterrmind.............
Master your Mind then Master your Trades
  • #22,567
  • Dec 15, 2016 7:50am Dec 15, 2016 7:50am
my bias on ym would be long, but we did not have a retest of the NSL of yesterday
  • #22,568
  • Dec 15, 2016 8:00am Dec 15, 2016 8:00am
Okay Traders getting closer to the live stream here. I will post the link in a few minutes to give everyone a chance to connect.

You will be able to ask questions and I will read through them and answer them as best I can.
If you fail to plan, you plan to fail.
  • #22,569
  • Dec 15, 2016 8:06am Dec 15, 2016 8:06am
Ok Traders, here is the link to the live stream I will be live in about 10 min.

http://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w/live
If you fail to plan, you plan to fail.
  • #22,570
  • Dec 15, 2016 8:07am Dec 15, 2016 8:07am
Quoting Mr. Pip
Okay Traders getting closer to the live stream here. I will post the link in a few minutes to give everyone a chance to connect. You will be able to ask questions and I will read through them and answer them as best I can.
Once you have time, a question.

We made a NSH and we have had a NSL. Normal expectation would be deep retracement and then short. We got this "re-test" but no new NSL. Are we now expecting a NSH? (I am still struggling with short term expectation versus long term expectation).

Sorry to ask, maybe it is clear for all others.
  • #22,571
  • Dec 15, 2016 8:24am Dec 15, 2016 8:24am
Hi Mr Pip

Ive been following this thread on and off for a long time now and have to say it has helped me no end.

Thought id share a couple of my own efforts at extracting money from the market, pretty much all i have learned is either directly or indirectly associated with what i have picked up here.

This is a short video regarding stop and exit targets and how small but consistend wins add up.

https://drive.google.com/file/d/0By1HMuY4jLWwNHNTMnEwZFBJSGs/view?usp=sharing

Hope it helps or at least makes you think on how you are performing.

Feedback appreciated

Good luck all

Chalky
  • #22,572
  • Dec 15, 2016 8:29am Dec 15, 2016 8:29am
Quoting Mr. Pip
Ok Traders, here is the link to the live stream I will be live in about 10 min. http://www.youtube.com/channel/UCy5Zq25cFK3FZeF26wn4m0w/live
I can't get the chat function to work. It's just a blank white window, the stream works fine though.
Rise and rise again until lambs become lions
  • #22,573
  • Dec 15, 2016 8:36am Dec 15, 2016 8:36am
Quoting Mr_Burns
{quote} I can't get the chat function to work. It's just a blank white window, the stream works fine though.
Just realised your doing the live feed

bad timing apologies
  • #22,574
  • Dec 15, 2016 10:22am Dec 15, 2016 10:22am
YM +18
TF +5.9

Notes on charts.

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  • #22,575
  • Dec 15, 2016 11:11am Dec 15, 2016 11:11am
Hello Traders,

The live stream has concluded and I hope it hold tremendous value to you and helps clarify the process farther. If you have any questions feel free to post them. and I will answer them. Also if you did not have an opportunity to watch it here it is.

https://www.youtube.com/watch?v=Nd2k3x0RLZg
If you fail to plan, you plan to fail.
  • #22,576
  • Dec 15, 2016 11:24am Dec 15, 2016 11:24am
Quoting Mr. Pip
Hello Traders, The live stream has concluded and I hope it hold tremendous value to you and helps clarify the process farther. If you have any questions feel free to post them. and I will answer them. Also if you did not have an opportunity to watch it here it is. https://www.youtube.com/watch?v=Nd2k3x0RLZg
Thank you a lot Damian, I wasn't able to attend but can't wait to catch up almost 3h of free lesson and insight in real pro trading
the 3rd wave is the crowd's wave
  • #22,577
  • Dec 15, 2016 11:28am Dec 15, 2016 11:28am
Quoting Mr. Pip
Hello Traders, The live stream has concluded and I hope it hold tremendous value to you and helps clarify the process farther. If you have any questions feel free to post them. and I will answer them. Also if you did not have an opportunity to watch it here it is. https://www.youtube.com/watch?v=Nd2k3x0RLZg
Looking forward to watching this later this evening, thank you in advance!
  • #22,578
  • Dec 15, 2016 11:38am Dec 15, 2016 11:38am
I am new here, but thank you. It was very helpfull, and clarified questions that I had, even ones I didn't ask.

Thank you!
  • #22,579
  • Edited 3:44pm Dec 15, 2016 2:14pm | Edited 3:44pm
Mr. Pip,

thank you for your time today, I enjoyed it a lot.

With hindsight it is easy to say, but why I was more on short on the upper box was because what I saw on my chart. The first vertical yellow line is the start of trading. The long entry is clear for me.
On the upper portion, I saw an expectation failure. The horizontal yellow line would be the confirmation to go short. In this case I would put my SL above the previous top, since it is an aggressive trade against the previous immediate expectation of a NSH.

The thing which did not suit me was the last up swing which I found too "strong upwards" to take a short later. Moreover, the previous support structure "for long" is quite near.

My point is to figure out if it would be worth to take or it would be only a singular lucky trade that would have worked out? Probably not realistic to expect such a turn and we could also not make the difference of price doing only a correction before going further up to meet the harmonic completion.
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  • #22,580
  • Dec 15, 2016 2:54pm Dec 15, 2016 2:54pm
Quoting Mr_Burns
{quote} I can't get the chat function to work. It's just a blank white window, the stream works fine though.
Sorry you were not able to get it to work. You can ask me and I will try to remember and answer you.
If you fail to plan, you plan to fail.
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