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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

  • #22,981
  • Dec 22, 2016 9:39am Dec 22, 2016 9:39am
It may take the rest of the month for price to hit my TP
If you fail to plan, you plan to fail.
  • #22,982
  • Dec 22, 2016 9:43am Dec 22, 2016 9:43am
Quoting Mr. Pip
Still some buyers in the area. No big deal we know price as much as we would like to see it race to our TP doesn't move in straight line. The buyer do however show some volume which is not good for us. Let's see how the bears respond. Down 2 points now. {image}
hi Mr Pip.
Following your teachings from your
DCASTFX ADVANCE PATTERNS RULES OF ENGAGEMENT ABCD.doc (http://www.forexfactory.com/attachment.php/1110051?attachmentid=1110051&d=1357309291) attachment on post #582
I learned that the Stop loss should go 10 pips above the A for an aggressive C sell.
Just wondering what was your thought process in placing it closer for this trade.
(I'm assuming that this is an AB=CD set up. If it isn't then never mind.
Play the hand you were dealt.
  • #22,983
  • Dec 22, 2016 9:47am Dec 22, 2016 9:47am
EU overextended, hitting supply, Possible Sell setup.
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  • #22,984
  • Dec 22, 2016 9:47am Dec 22, 2016 9:47am
I want you all to note that my stop should be above the swing high as where it is currently placed is vulnerable to attacks. When I enter a trade I have an auto 20 stop 40 TP which I adjust and I have not done so yet. I tend to wait sometimes on placing the stop at the correct place in case an unforeseen rocket takes off. This rarely happens and almost always have plenty of time to move it.

If you do not have the discipline to do this and separate emotions then do it at the beginning of the entry. Bears look weak but it may be lack of overall volume. I'm also trading very light due to the time of year. The rules and process are the same no matter how many contracts I trade.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_22.png Size: 71 KB
If you fail to plan, you plan to fail.
  • #22,985
  • Dec 22, 2016 9:49am Dec 22, 2016 9:49am
Have to suck on this we know this is a buying area and we did not have to best room to protect the rules say do nothing so I will do nothing and let the trade run its course. Discipline and your belief system in your trade plan helps in this type of situation.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_22.png Size: 73 KB
If you fail to plan, you plan to fail.
  • #22,986
  • Dec 22, 2016 9:55am Dec 22, 2016 9:55am
Quoting Mr. Pip
Have to suck on this we know this is a buying area and we did not have to best room to protect the rules say do nothing so I will do nothing and let the trade run its course. Discipline and your belief system in your trade plan helps in this type of situation. {image}
Looks like a great trade, if it breaks the lows could go all the way to 19820
  • #22,987
  • Dec 22, 2016 9:56am Dec 22, 2016 9:56am
SL to BE and let it run
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  • #22,988
  • Dec 22, 2016 9:58am Dec 22, 2016 9:58am
Bulls are fighting which sucks but is I go to a BE before my rules call for I will probably be taken out at a BE. We knew this area had buyers but have to be patients and let them fight it out. if the expectation was against me and I would have taken the trade based on technical reason I would break the rule and protect my capital.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_22.png Size: 71 KB
If you fail to plan, you plan to fail.
  • #22,989
  • Dec 22, 2016 9:59am Dec 22, 2016 9:59am
Quoting SteeP7
SL to BE and let it run {image}
It's getting there
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Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_22.png Size: 71 KB
If you fail to plan, you plan to fail.
  • #22,990
  • Dec 22, 2016 9:59am Dec 22, 2016 9:59am
Quoting SteeP7
SL to BE and let it run {image}
Great work!
If you fail to plan, you plan to fail.
  • #22,991
  • Dec 22, 2016 10:00am Dec 22, 2016 10:00am
Quoting Mr. Pip
{quote} Great work!
TY I learned from the best
  • #22,992
  • Dec 22, 2016 10:01am Dec 22, 2016 10:01am
Locked in 5. Close enough to structure and a nasty candle
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Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_22.png Size: 70 KB
If you fail to plan, you plan to fail.
  • #22,993
  • Dec 22, 2016 10:02am Dec 22, 2016 10:02am
Adjusted it to +3 to give it a little extra room.
If you fail to plan, you plan to fail.
  • #22,994
  • Dec 22, 2016 10:03am Dec 22, 2016 10:03am
Quoting SteeP7
{quote} TY I learned from the best
Let me know from who so I can learn too.
If you fail to plan, you plan to fail.
  • #22,995
  • Dec 22, 2016 10:06am Dec 22, 2016 10:06am
Quoting Mr. Pip
Adjusted it to +3 to give it a little extra room.
A lot of resistance on the left.
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  • #22,996
  • Dec 22, 2016 10:13am Dec 22, 2016 10:13am
Bulls trying to come in this is where I would go to a BE as a true test of structure is taking place. It would suck to give back 16 points but I trade the expectation and the expectancy. I will not lose money here so let it run it's course.
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Click to Enlarge Name: YM 03-17 (233 Tick) 2016_12_22.png Size: 71 KB
If you fail to plan, you plan to fail.
  • #22,997
  • Dec 22, 2016 10:14am Dec 22, 2016 10:14am
momentum should increase to downside on YM
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  • #22,998
  • Dec 22, 2016 10:15am Dec 22, 2016 10:15am
Quoting evocpr19
{quote} A lot of resistance on the left. {image}
Nature of the beast my friend I have done what I need to I am 100% risk free.
If you fail to plan, you plan to fail.
  • #22,999
  • Dec 22, 2016 10:19am Dec 22, 2016 10:19am
Once price clears the lows if I survive this correction I will look to lock in some profit as price get closer to ratio exhaustion to just above the 850 area of structure and once price tags the 127.2, I trail very aggressively since the ABCD completes at the 138. No sense giving back a bunch of point for an extra 5
If you fail to plan, you plan to fail.
  • #23,000
  • Dec 22, 2016 10:22am Dec 22, 2016 10:22am
We can see an area of short term structure the we would like the bears to defend. This will show us that the sellers are healthy in an area of demand. We must continue to be patient and let them fight it out. I have taken the necessary precautions so just sit and watch.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
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