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Ratios & Harmonics: a Different Way to Trade

  • #23,341
  • Jan 7, 2017 9:55am Jan 7, 2017 9:55am
YM 1/6 trades -8, +31, +9 = +32

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  • #23,342
  • Edited 10:41am Jan 7, 2017 10:07am | Edited 10:41am
My first post since I started live for 2017 in the futures market. If I can catch this next week this is how I view structure for next week. Long. I have condense my process to S.O.R.E(childish I know) but it keeps me on track. I also have on my screen "Trust Expectation-Trust Process". I read it every time I get into draw down. Have good weekend.

FYI: If anyone has question about why I drew my swing this way, in my mind I am following the overall trend. Based on pitch I expect we should get down into 824-843 zone, but still have an eye on other.
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Empower Your Mind
  • #23,343
  • Jan 7, 2017 10:30am Jan 7, 2017 10:30am
Quoting jmezz
...
Thanks for your analysis. I was thinking about you when i drew my Fib extention at the bottom. And i thought that point A on my chart would provide a BreakOut Failure (BOF) setup and trap buyers just above the resistance you drew in Yellow but at the same time was uncertain as i was detecting some good buying from the bottom. You took the long on YM where the ES printed the LOD. I missed the long there and was thinking that a revert to the mean trade was a valid option at point A. However, looking how price broke above point A and the PB to the resistance turned support (Yellow on your chart) it was difficult to conceive the bears would regain control at B. All in all, when price makes a V bottom like it is tough to trade. I was talking to another trader when price pulled back at A and he said the internals (Advance/Decline) did not support a mid trade as the stocks that compose the S&P 500 were recovering and consequently the odds of a short were not favorable at that time.
  • #23,344
  • Jan 7, 2017 11:46am Jan 7, 2017 11:46am
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  • #23,345
  • Jan 7, 2017 10:21pm Jan 7, 2017 10:21pm
Good evening everyone hope you are all enjoying the weekend. I wanted to post one last chart drawing of structure analysis to hammer the nail one more time. I will move on to the next lesson which I believe is order flow after this. What I found really helped was if I drew trend lines before hand to simplify the process. I noticed at about the 12:00 mark that price tested the previous resistance point for a 2nd time before starting a decent downtrend. Is it common for price to reverse in these situations and is it reasonable to use one or more failed retests as an indicator of confluence and developing PRZ? As always, thanks for the input, I can't wait to get on to the next lesson. Also - I purchased a PA book called Price Action Breakdown by Laurentius Damir but haven't got to reading yet. Anyone read it? Cheers.
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  • #23,346
  • Jan 8, 2017 10:18am Jan 8, 2017 10:18am
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  • #23,347
  • Jan 8, 2017 12:05pm Jan 8, 2017 12:05pm
Well my friends I'm back and ready to get 2017 started. I can't wait until tomorrow. Goals have been set and it's time to go get them. Talk to you all tomorrow.
If you fail to plan, you plan to fail.
  • #23,348
  • Jan 8, 2017 2:12pm Jan 8, 2017 2:12pm
Hi Mr Pips and every one

This is my first post on this thread I have not traded or been on the forums for about 3 years now.
I'm just getting started again. I came to FF to check out the calendar and seen this tread and checked it out
I watched the videos and put them together with what I was doing before I quit trading and it really mad a difference
I will be following your posts
  • #23,349
  • Jan 8, 2017 2:58pm Jan 8, 2017 2:58pm
Quoting jcgibson
Hi Mr Pips and every one This is my first post on this thread I have not traded or been on the forums for about 3 years now. I'm just getting started again. I came to FF to check out the calendar and seen this tread and checked it out I watched the videos and put them together with what I was doing before I quit trading and it really mad a difference I will be following your posts
I'm glad it has helped you. Looking forward to your growth.
If you fail to plan, you plan to fail.
  • #23,350
  • Jan 8, 2017 3:25pm Jan 8, 2017 3:25pm
Quoting Mr. Pip
Well my friends I'm back and ready to get 2017 started. I can't wait until tomorrow. Goals have been set and it's time to go get them. Talk to you all tomorrow.
Welcome back Mr. Pip, hope you enjoyed the time off for the holidays. I am a new member (new trader too) here myself. I started your Structure Analysis lesson about 2 weeks ago and have been posting charts regarding that lesson. Other members have been quite helpful in your absence, and I think I am ready to move on to the next lesson. If by posting content related to old lessons I am disrupting the flow and organization of the thread, let me know. And of course, a big thank you for doing what you do! I look forward to graduating from padawan to master
  • #23,351
  • Jan 8, 2017 4:05pm Jan 8, 2017 4:05pm
A very special Hello to Mr Pip and Hello All, just want to say Hi! this is my first post on this thread. I have been trying to play catch up. I just joined this thread two days ago. I havent had much sleep since. lol....This is some of the best Info on trading I have ever seen. I trade full time from home and have invested $1000s on training. I have to say the information here is absolutely second to none. What an incredible thing Mr Pip is doing. Mr Pip, You are to be commended for such an unselfish and incredible job. Im so impressed I cant find the words to describe. I also love how this community inputs to the discussion. Im so glad I found you all.
Thanx and God bless
  • #23,352
  • Jan 8, 2017 5:13pm Jan 8, 2017 5:13pm
Quoting Lundies10
{quote} Welcome back Mr. Pip, hope you enjoyed the time off for the holidays. I am a new member (new trader too) here myself. I started your Structure Analysis lesson about 2 weeks ago and have been posting charts regarding that lesson. Other members have been quite helpful in your absence, and I think I am ready to move on to the next lesson. If by posting content related to old lessons I am disrupting the flow and organization of the thread, let me know. And of course, a big thank you for doing what you do! I look forward to graduating from padawan...
Post away! We are here to help. A big thanks again to all who help in my absence. I love this place. It is truly a place where great traders share their knowledge and experience with those that want to learn. I am so glad I created this home for us and also so glad to have such amazing willingness by other amazing traders to help. A true diamond in the rough and what this site is all about. Stick around this year we will take it to a whole new level.
If you fail to plan, you plan to fail.
  • #23,353
  • Jan 8, 2017 5:14pm Jan 8, 2017 5:14pm
Quoting grambo21
A very special Hello to Mr Pip and Hello All, just want to say Hi! this is my first post on this thread. I have been trying to play catch up. I just joined this thread two days ago. I havent had much sleep since. lol....This is some of the best Info on trading I have ever seen. I trade full time from home and have invested $1000s on training. I have to say the information here is absolutely second to none. What an incredible thing Mr Pip is doing. Mr Pip, You are to be commended for such an unselfish and incredible job. Im so impressed I cant find...
Awesome Grambo looking forward to your posts and thank you for the kind words!
If you fail to plan, you plan to fail.
  • #23,354
  • Jan 8, 2017 9:41pm Jan 8, 2017 9:41pm
Hello Mr Pip,

Welcome back, while learning this ABCD pattern and market structure I took two trade . Both hit TP+26 & + 32
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  • #23,355
  • Jan 8, 2017 10:12pm Jan 8, 2017 10:12pm
Wow! Where did the price stalled.No regret cant hv them all.This ratio & harmonic really amazed me.
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  • #23,356
  • Edited 1:39am Jan 9, 2017 1:08am | Edited 1:39am
The start of this year has been very disappointing for me so far.... last week was in the red, this week is starting in the red..

1 loss on 6E and 1 loss on 6J for total of 28 points (ouch)

Both had made a three drive down ...expectation was for a deep correction and a NSL. (We got the deep correction and nice entry candles)

Edit: The fib on the second chart isn't in right place(I put it there after I had entered). The main swing is a little smaller but I was looking at something else at the moment of the snapshot.
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  • #23,357
  • Jan 9, 2017 1:40am Jan 9, 2017 1:40am
I've came across your thread searching for a better way to understand and read the charts. Read through your posts, watched the videos and for the first time i have an understanding of how to read the charts with an open mind. Your teaching and trading style are excellent.

Good teacher Mr Pip. And those who want to complain or complained about your teaching you do i think they need to reevaluate their intelligence, cos how can you complain about such enormous valuable lessons you give us for free in a humble way. You don't owe them/us anything.

Thumbs up for you Damian. You are an honest person who want to teach us newbies your expertise and that is priceless. I'm still in a process of backtesting your style of trading, so when i come across something i don't understand i will ask. For now everything is crystal clear, just need to test and see what happens. I like to figure out things first before asking any question and to me that's the best way of learning.

I hope we will see you on this thread for years to come.

Well done and i think you have achieved your goals ad can only get better the way forward.
  • #23,358
  • Jan 9, 2017 2:35am Jan 9, 2017 2:35am
Wrong calculation -13
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  • #23,359
  • Jan 9, 2017 2:38am Jan 9, 2017 2:38am
Hopefully this is correct.Stop is now at BE.
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  • #23,360
  • Jan 9, 2017 2:44am Jan 9, 2017 2:44am
1st target hit +32Stop is now @BE+2
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