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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

  • #25,041
  • Feb 9, 2017 5:37am Feb 9, 2017 5:37am
Quoting kelvinyun
Potential long. Failed expectations leading to deep PB. But I don't like the strength of the bear candles. If I take this trade it must be managed aggressively. EURUSD.jpg;2180059 {image}
Yes looks like bears are strong, I think the next line for the bulls is a bit lower:
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before that I would be careful with longs
the 3rd wave is the crowd's wave
  • #25,042
  • Feb 9, 2017 5:40am Feb 9, 2017 5:40am
Quoting wigtrade
stop to breakeven here at structure {image}
terrific. now a free trade. GL
  • #25,043
  • Feb 9, 2017 5:41am Feb 9, 2017 5:41am
bulls need to defend 411 here
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Bulls nor Bears may hide their intent.
  • #25,044
  • Feb 9, 2017 5:51am Feb 9, 2017 5:51am
Quoting juriFX
{quote} Yes looks like bears are strong, I think the next line for the bulls is a bit lower: eu 15m.png;2180096 before that I would be careful with longs {image}
i think u have a turning point to the upside somewhere between 1.06600-500. see how price comes there. It could offer a good opportunity for long.
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  • #25,045
  • Feb 9, 2017 6:11am Feb 9, 2017 6:11am
Quoting ujku80
{quote} yes. it is important that the candle takes out at least half of the body of the previous candle and it doesn't go far below that previous bar. meaning it doesn't have a long bottom wig.
I prefer it when the rotation candle engulfs the previous candle. Else I don't feel confident in the entry.
  • #25,046
  • Feb 9, 2017 6:16am Feb 9, 2017 6:16am
good battle, bulls trying to establish 412 as a base
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  • #25,047
  • Edited 6:51am Feb 9, 2017 6:30am | Edited 6:51am
buyers on 50% of larger swing watch

heavy volume also on the 80 level
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #25,048
  • Feb 9, 2017 6:32am Feb 9, 2017 6:32am
Quoting x3m-PippiN
{quote} I prefer it when the rotation candle engulfs the previous candle. Else I don't feel confident in the entry.
sure, it's only that sometimes u may miss the trade. the main point is that you know why u're entering the trade. Here or there u'll get a bar that fulfills your criteria. remember that the candle bar is just the very last thing u need to see. 99% of the job is done when u analyze everything else (structure, order flow, strength, fib ratios, harmonics etc etc). so...i've been fine entering with a limit buy or sell at 50-61.8% of the swing without being around and waiting for a "triggering" candle. as u know.

i could place a limit buy now at 50% of the recent swing in YM for example where there is structure. most probably we're going to see a bullish bar, engulfing or not in that region anyway. right?! but, since the market is not opened yet, i'd like to wait for that, and see what big players do. they can push price lower just to hit SL and then continue higher....u never know
  • #25,049
  • Feb 9, 2017 6:34am Feb 9, 2017 6:34am
Entered Long EU on M3 rotation
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  • #25,050
  • Feb 9, 2017 6:41am Feb 9, 2017 6:41am
Quoting wigtrade
Entered Long EU on M3 rotation {image}
how did the previous trade go?
  • #25,051
  • Feb 9, 2017 6:44am Feb 9, 2017 6:44am
Quoting ujku80
{quote} how did the previous trade go?
hanging in by a thread at b'e

Edit Stop hit Breakeven, NEXT!
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  • #25,052
  • Feb 9, 2017 6:49am Feb 9, 2017 6:49am
Quoting wigtrade
{quote} hanging in by a thread at b'e Edit Stop hit Breakeven, NEXT! {image}
sad. it was a good trade. yes, next...
  • #25,053
  • Feb 9, 2017 6:55am Feb 9, 2017 6:55am
Quoting x3m-PippiN
{quote} I prefer it when the rotation candle engulfs the previous candle. Else I don't feel confident in the entry.
u know, market is not going to wait for u. sometime all you get is just a little invitation followed by a large volume candle engulfing several bars. and then u wish u took that entry which seems too expensive afterwards.
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here is what price is doing now. do i enter right now? the engulfing bar is there.
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  • #25,054
  • Feb 9, 2017 7:02am Feb 9, 2017 7:02am
Quoting ujku80
{quote} u know, market is not going to wait for u. sometime all you get is just a little invitation followed by a large volume candle engulfing several bars. and then u wish u took that entry which seems too expensive afterwards. {image}
good point. It all depends on the context of the market at that point in time imo. in your chart there the strong upmove prior suggests a weak pullback and strong continuation, in which case as you say we may not have the luxury of a strong rotation before price moves on without us.

I think it comes down to what we are defining as a rotation, for me it is a sign that immediate direction has reversed, I don't yet have a set of hard and fast rules as to what that looks like but must admit I favour an engulfing candle at present. this is great feedback thanks
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  • #25,055
  • Feb 9, 2017 7:14am Feb 9, 2017 7:14am
Quoting crixus
{quote} Who do you think made me aware of this? That's so simple yet so effective after a huge move in one direction. Hey btw, have you decided to take a break? I like reading about your take on price action.
I've been 'hands off' mostly the past couple of weeks because I can't make sense of the pa when I'm reading it. Part of the issue I think was that I was getting confused by NQ pa and was too paralyzed to make any trades. I'm watching YM again but yesterday I had some things to take care of.
  • #25,056
  • Feb 9, 2017 7:21am Feb 9, 2017 7:21am
Quoting ujku80
{quote} u know, market is not going to wait for u. sometime all you get is just a little invitation followed by a large volume candle engulfing several bars. and then u wish u took that entry which seems too expensive afterwards.YM 03-17 (233 Tick) 2017_02_09_trade chance.png;2180253 here is what price is doing now. do i enter right now? the engulfing bar is there. YM 03-17 (233 Tick) 2017_02_09_trade chance 2.png;2180277 {image} {image}
Like Damian has said many times. We shouldn't be chasing price.. we should wait for price to come to us and take a trade on our terms. If the market doesn't want to wait for me ..than screw him we won't make a business deal
If you find your way of entering satisfying then by all means go ahead..like I said I prefer engulfing that for me is when the buyers/sellers are showing most of their strength.

Regarding the current situation on YM... I wouldn't like to enter after such a move because for me it's unreasonable to expect from the market to repeat it. And even if it makes a weak NSH the R:R isn't favourable to me.
  • #25,057
  • Feb 9, 2017 7:29am Feb 9, 2017 7:29am
expectation of NSH is weakened but I see value for buying around 7370 on completion of yellow 1:1
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  • #25,058
  • Feb 9, 2017 7:29am Feb 9, 2017 7:29am
YM this morning

Net long but price has already pulled back a bit.

Will we see 1 more drive down? I don't know about that. There's a nice zone of structure in the gold so price would have to get through that. Coupled with the deep retracement and strength of the leg that drove price there, I have doubts that we'll see a 3rd drive completion. However, it's something that I'll keep in mind.

It's tough to press short here.

We'll see what rth brings.

PS think I'm back to the black layout for good, so no more white. Are you guys happy? Lol.

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  • #25,059
  • Edited 8:04am Feb 9, 2017 7:51am | Edited 8:04am
Quoting ujku80
{quote} u know, market is not going to wait for u. sometime all you get is just a little invitation followed by a large volume candle engulfing several bars. and then u wish u took that entry which seems too expensive afterwards...
Very true. There has been an interesting webinar this week on "Understanding Price Risk vs Information Risk w/FuturesTrader71". I think it complements what you wrote nicely.

https://www.youtube.com/watch?v=b6j2Q8s7tNE
  • #25,060
  • Feb 9, 2017 7:56am Feb 9, 2017 7:56am
long. didn't wait for a better price. let's see how it goes.
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