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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

  • #24,921
  • Edited 8:58am Feb 8, 2017 8:07am | Edited 8:58am
Quoting eaglestar
{quote} Price reversed, hit the 61.8 and now at the "PRZ" 161.8 extension. Looking at reversal down here. Notice also heavy volume. Monitoring 1min Also PRZ 1h Holding at 1m 78.6 {image} {image} {image} {image} {image} {image}
As predicted

And more
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #24,922
  • Feb 8, 2017 8:22am Feb 8, 2017 8:22am
Quoting Hazza88
{image} {image} {image}
The structure below the last NSL was tested 3-4 times. That should have been your first signal for serious weakness along with the weak projection of the last swing. Also notice the increase of bullish momentum in the legs in the immediate orderflow prior to your short entry.
  • #24,923
  • Feb 8, 2017 8:29am Feb 8, 2017 8:29am
GM Traders,

Getting here late this morning. I will catch up after the trading session. Let's see what today offers. Scheduled volatility at 10:30 and range bound market with a bearish bias.
If you fail to plan, you plan to fail.
  • #24,924
  • Feb 8, 2017 8:43am Feb 8, 2017 8:43am
Did not take the signal but expectation is for a NSL and the buyers are also aggressively defending the territory. Imbalance should favor the bears.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,925
  • Feb 8, 2017 8:49am Feb 8, 2017 8:49am
If the sellers are serious about taking price down they will attack at the line or sooner.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,926
  • Feb 8, 2017 8:50am Feb 8, 2017 8:50am
See. situational awareness and market context.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_08.png Size: 60 KB
If you fail to plan, you plan to fail.
  • #24,927
  • Feb 8, 2017 8:57am Feb 8, 2017 8:57am
Quoting Mr. Pip
Did not take the signal but expectation is for a NSL and the buyers are also aggressively defending the territory. Imbalance should favor the bears. {image}
I took that short but was stopped out at BE. I have to tweak my trade management rules for expensive entries and entries above the 50% fib. I get stopped out at BE on these very often and I miss out on moves.
I've had 6 trades so far for this week and 4 are BE lol
  • #24,928
  • Feb 8, 2017 9:00am Feb 8, 2017 9:00am
Quoting Mr. Pip
See. situational awareness and market context. {image}
i might be wrong, but im not so inclined to go short. i think the bear esteem will fade soon. but let's see. it might be an opportunity for a countertrend long trade soon.
  • #24,929
  • Feb 8, 2017 9:02am Feb 8, 2017 9:02am
Quoting x3m-PippiN
{quote} I took that short but was stopped out at BE. I have to tweak my trade management rules for expensive entries and entries above the 50% fib. I get stopped out at BE on these very often and I miss out on moves. I've had 6 trades so far for this week and 4 are BE lol
Sometimes or often on shallow corrections this is something that can frustrate you but you can wait for price to get past the structure then get to the BE
If you fail to plan, you plan to fail.
  • #24,930
  • Feb 8, 2017 9:03am Feb 8, 2017 9:03am
Looking for shorts but want more room looking at the 995 area.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,931
  • Feb 8, 2017 9:08am Feb 8, 2017 9:08am
The bulls will likely try to defend the green area. That is why I would like better room and the profit target to the pattern completion is higher where I am interested in entering.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,932
  • Feb 8, 2017 9:13am Feb 8, 2017 9:13am
Quoting Mr. Pip
{quote} Sometimes or often on shallow corrections this is something that can frustrate you but you can wait for price to get past the structure then get to the BE
Yes, I just have to write it down in the rules. I traded for a very long time without a plan. And I always blamed myself for taking a certain decision in the trading arena. But after I sat down one day and made a nice simple to follow (for me) trade plan and started executing it I've found my peaceful place in my mind.
Many times like today I know that I shouldn't hurry and put the stop at BE but I just want to stay disciplined with my plan and stick to it.
I recommend that every one writes a plan. It doesn't have to be as long and detailed as Mr.Pip's (he showed it for a few seconds in one of his vids). Mine is pretty simple and only the trade management part is a little more detailed.

I also want to ask Damian about keeping a trading journal and his thoughts on that. I'm not sure if this has been asked before I honestly don't remember.
  • #24,933
  • Feb 8, 2017 9:15am Feb 8, 2017 9:15am
Looks like I was off by a couple of points but was right about the bulls defending. Now we need to see shit going up which we don't at the moment. This is why I am very aware of who should defend and where to avoid getting into something that will struggle from the beginning. I rather miss the trade and not deal with difficult situations.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_08.png Size: 64 KB
If you fail to plan, you plan to fail.
  • #24,934
  • Feb 8, 2017 9:19am Feb 8, 2017 9:19am
Quoting Mr. Pip
Looks like I was off by a couple of points but was right about the bulls defending. Now we need to see shit going up which we don't at the moment. This is why I am very aware of who should defend and where to avoid getting into something that will struggle from the beginning. I rather miss the trade and not deal with difficult situations. {image}
We might not get a good entry for down
  • #24,935
  • Feb 8, 2017 9:22am Feb 8, 2017 9:22am
Interesting area to look for the long as order flow and expectations from an intraday expectation has changed but we are in an orderflow crossroads. I will be patient and wait for price to speak more clearly.
Attached Image (click to enlarge)
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If you fail to plan, you plan to fail.
  • #24,936
  • Feb 8, 2017 9:30am Feb 8, 2017 9:30am
Quoting evocpr19
{quote} We might not get a good entry for down
Being at a crossroads sucks because you have technical analysis that supports both longs and shorts so we have to refer to the immediate for strength and weakness and that too does not tell us much either.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_08.png Size: 62 KB
If you fail to plan, you plan to fail.
  • #24,937
  • Feb 8, 2017 9:31am Feb 8, 2017 9:31am
Quoting Mr. Pip
{quote} Being at a crossroads sucks because you have technical analysis that supports both longs and shorts so we have to refer to the immediate for strength and weakness and that too does not tell us much either. {image}
Agreed
  • #24,938
  • Feb 8, 2017 9:34am Feb 8, 2017 9:34am
Quoting x3m-PippiN
{quote} Yes, I just have to write it down in the rules. I traded for a very long time without a plan. And I always blamed myself for taking a certain decision in the trading arena. But after I sat down one day and made a nice simple to follow (for me) trade plan and started executing it I've found my peaceful place in my mind. Many times like today I know that I shouldn't hurry and put the stop at BE but I just want to stay disciplined with my plan and stick to it. I recommend that every one writes a plan. It doesn't have to be as long and detailed...
I will update my trade plan and share it with you. It is up to date but there some things in there like contacts and account info that I need to take out for my protection.
If you fail to plan, you plan to fail.
  • #24,939
  • Feb 8, 2017 9:36am Feb 8, 2017 9:36am
Looks like the bears are still in control. Will continue looking for shorts. Longer terms patterns complete below us.
Attached Image (click to enlarge)
Click to Enlarge Name: YM 03-17 (233 Tick) 2017_02_08.png Size: 62 KB
If you fail to plan, you plan to fail.
  • #24,940
  • Feb 8, 2017 9:37am Feb 8, 2017 9:37am
Quoting Mr. Pip
Looks like the bears are still in control. Will continue looking for shorts. Longer terms patterns complete below us. {image}
If I do not get a short opportunity, I will try to enter a long in the area of 50-61 fib of main swing 15min TF.
50 fib of a5 min TF would be the 1:1 completion of previous down swing.

I was expecting more action out of the news.
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