Ratios & Harmonics: a Different Way to Trade

Quoting kelvinyun

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Something funny happened today. Since I'm at work now, I trade using my phone - MT4, but I use PC for online charts. So I have one open trade from last night. And I take a look at the online charts - WOW 50 pips! And price seems to be reversing...I immediately close trade on my phone. Feeling great! Then I scrutinize my profit... only 50 cents? (0.01 lot = 5 pips) Turned out the online chart's weren't updated. (I am connected to the company's server, but I haven't validate my account for internet access yet)

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Quoting kelvinyun

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Currency: EURUSD Potential Entry: Short at 62% - 79% Fib Expectation: NSL (Follow expectations) Projection: Weak Momentum: Weak Depth: Should be deep. Bar by bar: Equivalent strength. Risky to short at 38%-50% level. Risky to go long as well against expectations. Structure: Good structure at 24%-38% and 62% - 79%. Final Condition for entry: - as long as the momentum of the corrective upswing is not too strong, and the bar by bar of the upswing is not too strong. EURUSD 5M.JPG;2179347 Outcome: went for lunch and could not take profit at the best...

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Quoting kelvinyun

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I keep watching Damian's videos. For some videos, I watch more than 5 times, and will probably will watch a lot more times. Every time I watch, I get new insights. Every time Damian makes (new) videos to answer our questions, he teaches the same thing as the previous videos. Consistency! Just that I was not good enough to catch what he taught in the previous videos. So every time i watch new ones, or re-watch old ones, I understood more and more. I never believed in Technical Analysis. I hold the CFA charter so I'm a fundamentalist. A buyer of boring...

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Quoting Arvs7

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Iam getting better with trade entering but most of time i get stooped out i need to do something with my SL movement to BE. This month i made 6 trades only (still have problem to trigger entries) 2 was profitable 1 loos 3 was BE but all had worked out but without me. Getting emotional because it could be good trades but i took ST to fast to BE. hope one day ill trade without emotions. Trade i took today TP was at 38.2 mabby entered to early still have much work to do with my trading. But this thread did improve my trading tnx to all. {image}

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Quoting wigtrade

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{quote} I see, thanks. would you class that as a rotation though as did not engulf the prior candle?

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Quoting ujku80

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{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.

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Quoting wigtrade

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bulls taking off nicely, bears expected to defend this first level marked orange here {image}

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Quoting crixus

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{quote} 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

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Quoting Mr. Pip

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Now down to some business. With light impact news scheduled throughout the day I don't expect anything crazy but might provide just enough fuel to at least keep thing moving. We have a bullish biased day with price extending past an ABCD completion. We are also at the profit target of the ABCD that completed yesterday. So we will see what the open does to establish. Although the bulls have been able to consume some of the distance imbalance should still favor the bears so caution. {image}

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Quoting jmezz

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{quote} {quote} My opinion on this setup. I place tight stops so going long there doesn't make sense to me. You guys that use larger stops could get away with it, however imo this is still a situation where you wait for better trade positioning. Screenshot2.png;2180462 {image}

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Quoting Mr. Pip

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{quote} Love how you are staying ahead of price and using market context to help you understand where your trade could experience some difficulties. That is serious growth. Congrats!!!

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Quoting ujku80

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{quote} oops. so i'm screwed more or less... come on bulls. pls . i love u YM 03-17 (233 Tick) 2017_02_09_trade 1 running.png;2180504 {image}

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Quoting Mr. Pip

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{quote} Very late entry but the expectation is on your side.

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Quoting wigtrade

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{quote} From the master, I take this as a serious compliment. Thank you sir

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Quoting ujku80

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{quote} moved SL below the swing. risk is 17 pips. no room for BE trade. loose loose.. part of the deal

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Quoting Mr. Pip

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{quote} Glad you put it together good luck on your trade.

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