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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

  • #24,581
  • Feb 1, 2017 10:34am Feb 1, 2017 10:34am
Quoting Mr. Pip
{quote} Yes 780 - 770 should find great support liking 770 more. I would like to find a short into that low. Imbalance should not favor the bears and I don't see price climbing into 840 that would be a gift. I would be aggressive and look for something in the 820-830. I will not be anywhere near that news later on.
to tell the truth, i almost, almost wanted to go long at 780... no no. not a good idea. jmezz is razor-cut for this counter-trend trades. not me.
  • #24,582
  • Feb 1, 2017 10:35am Feb 1, 2017 10:35am
I know the rotation is not there but imbalance now should favor the bears nicely and did not want to miss another opportunity. Scaled down to 4 contracts to account for the added risk.
If you fail to plan, you plan to fail.
  • #24,583
  • Feb 1, 2017 10:37am Feb 1, 2017 10:37am
Got the rotation a candle later and it would have placed me in the trade at the same price level so that is a good thing. We want to see aggressive volume building on the sellers. Let's go bears!
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,584
  • Feb 1, 2017 10:37am Feb 1, 2017 10:37am
Quoting Mr. Pip
Got short maybe early but taking on the risk. {image}
I cross my fingers for you, do not see the PA since I take the train home.
  • #24,585
  • Feb 1, 2017 10:39am Feb 1, 2017 10:39am
Quoting ujku80
{quote} to tell the truth, i almost, almost wanted to go long at 780... no no. not a good idea. jmezz is razor-cut for this counter-trend trades. not me.
I can't think long when imbalance favors the bears so well. Up a few.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,586
  • Feb 1, 2017 10:45am Feb 1, 2017 10:45am
There are some buyers trying to push up price hopefully it's nothing. Let's see how the candle closes.
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If you fail to plan, you plan to fail.
  • #24,587
  • Feb 1, 2017 10:48am Feb 1, 2017 10:48am
Did not close well for the bears but like I said I might have gotten in a bit early have to be patient. I will update you with a chart after a few more candles. I don't want to post a hundred chart pictures either.
If you fail to plan, you plan to fail.
  • #24,588
  • Feb 1, 2017 10:48am Feb 1, 2017 10:48am
Risk fee trade.
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If you fail to plan, you plan to fail.
  • #24,589
  • Feb 1, 2017 10:49am Feb 1, 2017 10:49am
Quoting Mr. Pip
Did not close well for the bears but like I said I might have gotten in a bit early have to be patient. I will update you with a chart after a few more candles. I don't want to post a hundred chart pictures either.
that was a nice move
  • #24,590
  • Feb 1, 2017 10:50am Feb 1, 2017 10:50am
Felt good about the imbalance now we need to get past 80
If you fail to plan, you plan to fail.
  • #24,591
  • Feb 1, 2017 10:50am Feb 1, 2017 10:50am
Quoting ujku80
{quote} that was a nice move
Fast powerful. How I like it.
If you fail to plan, you plan to fail.
  • #24,592
  • Feb 1, 2017 10:51am Feb 1, 2017 10:51am
Quoting Mr. Pip
{quote} Fast powerful. How I like it.
did u move Sl to BE?
  • #24,593
  • Feb 1, 2017 10:53am Feb 1, 2017 10:53am
Being patient looking for some more imbalance that 80 seems tough though
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If you fail to plan, you plan to fail.
  • #24,594
  • Feb 1, 2017 10:55am Feb 1, 2017 10:55am
Quoting ujku80
{quote} did u move Sl to BE?
Yes per rules at test of structure.
If you fail to plan, you plan to fail.
  • #24,595
  • Feb 1, 2017 10:58am Feb 1, 2017 10:58am
I did not have the best of room to begin with but it is what it is. Price is respecting immediate short term structure the little blue line but that damn 80 it a real bitch. Let's see if I make it to target.
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If you fail to plan, you plan to fail.
  • #24,596
  • Feb 1, 2017 11:02am Feb 1, 2017 11:02am
BE triggered +2

It's important to protect your trade you can always enter again the rules called for BE and that is it. Last month I left a lot on the table getting too aggressive with the trade management and breaking rules.
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If you fail to plan, you plan to fail.
  • #24,597
  • Feb 1, 2017 11:05am Feb 1, 2017 11:05am
The take away here is how well I was able to read the market today and also the imbalance which is something that I am incorporating into the skill set. Also following rules help me remove the risk at the right level and still giving the trade as much room as possible to still achieve target. Nothing but happy with the trade and satisfied with the outcome.
If you fail to plan, you plan to fail.
  • #24,598
  • Feb 1, 2017 11:06am Feb 1, 2017 11:06am
Quoting Mr. Pip
BE triggered +2 It's important to protect your trade you can always enter again the rules called for BE and that is it. Last month I left a lot on the table getting too aggressive with the trade management and breaking rules. {image}
nicely managed! I note we have bounced off the 618 of larger upmove, does your strategy take any fib levels into account in this way? thanks
Bulls nor Bears may hide their intent.
  • #24,599
  • Feb 1, 2017 11:08am Feb 1, 2017 11:08am
Okay guys going to have lunch with the wife then pick up our daughter. I will catch up later today and post. Thank you for the support and to those that are helping to newer Traders.

Remember to make yourselves available for the live stream Feb 21. The link will be placed here at 0900 that morning. This is eastern time. Live trading and live interaction.

Catch you all later!
If you fail to plan, you plan to fail.
  • #24,600
  • Feb 1, 2017 11:13am Feb 1, 2017 11:13am
Quoting wigtrade
{quote} nicely managed! I note we have bounced off the 618 of larger upmove, does your strategy take any fib levels into account in this way? thanks
It does however the sellers are being more aggressive and able to move price. The buyers are now trying harder to defend the 80 area and we are seeing breakdown in the bear's order flow. If the bears look weak coming down (momentum and volume) I would consider looking for a long around 880 -870. I won't be around for that though and remember things will probably calm down ahead of the FOMC so don't get trapped in a trade.
If you fail to plan, you plan to fail.
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