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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

  • #25,121
  • Feb 9, 2017 10:44am Feb 9, 2017 10:44am
ah, i hesitated and i missed it.
  • #25,122
  • Feb 9, 2017 10:54am Feb 9, 2017 10:54am
long. let's hope we have another winner.
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  • #25,123
  • Feb 9, 2017 11:05am Feb 9, 2017 11:05am
Quoting ujku80
long. let's hope we have another winner. {image}
Looks like short term orderflow the bears are in control. You may be chasing here because you're buying near the "top" retail area. The bulls first push to a new high was weak and then a short term order flow NSL was made, and the bulls couldn't push past the first high (prior to the final leg up).

Hopefully I'm wrong and that trade works out for you though!!
  • #25,124
  • Feb 9, 2017 11:05am Feb 9, 2017 11:05am
don't know if it's a good idea or not. i see large volume candles, implying much buying and much selling (profit taking). on the other hand, i'm just following trading rules. deep projection means short PB (38.2%). let's see if market will continue higher. SL is at 78% of the swing.

and bwt, there is nothing on the left to see. It's clear sky really. birds are singing...some airplane or heli maybe in the nearby.... i have to say, Trump winning elections hasn't been so bad for those long term buyer has it.
  • #25,125
  • Feb 9, 2017 11:07am Feb 9, 2017 11:07am
Quoting Harmonic1976
{quote} Looks like short term orderflow the bears are in control. You may be chasing here because you're buying near the "top" retail area. The bulls first push to a new high was weak and then a short term order flow NSL was made, and the bulls couldn't push past the first high (prior to the final leg up). Hopefully I'm wrong and that trade works out for you though!!
maybe u're right. it very much possible. but i'm following my trading rules (Damian's rules actually). let's see. win win, loose loose. tomorrow better opportunities.
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it looks like bear want's to come, but new traders can't enter short as they have no where to hang their SL. it would be like trying to catch a falling knife. Long traders may think - why would i want to start sell now. it's going higher... so, let's leave for a bit longer. one hour and then it's enough. Maybe i'll close before market closes... so price goes into new highs and those who are scared don't enter because of fear of loss. but i follow my plan. all the analysis is not valid anymore as we see this new skies for the first time. so, just follow teachers lessons.
  • #25,126
  • Feb 9, 2017 11:16am Feb 9, 2017 11:16am
moved SL below the recent swing. risk is 9 pips. can't move to BE as i don't have room
  • #25,127
  • Feb 9, 2017 11:21am Feb 9, 2017 11:21am
Quoting ujku80
moved SL below the recent swing. risk is 9 pips. can't move to BE as i don't have room
I think the stop would need to go at or below 20100 (looks like main swing to me), My entry area for long would actually be either at 20125 or where your stop is.
  • #25,128
  • Feb 9, 2017 11:26am Feb 9, 2017 11:26am
Quoting Harmonic1976
{quote} I think the stop would need to go at or below 20100 (looks like main swing to me), My entry area for long would actually be either at 20125 or where your stop is.
here is my situation. i don't want to risk more because i'm late in the party...so might get slaughtered.
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  • #25,129
  • Feb 9, 2017 11:29am Feb 9, 2017 11:29am
Quoting Harmonic1976
{quote} I think the stop would need to go at or below 20100 (looks like main swing to me), My entry area for long would actually be either at 20125 or where your stop is.
if market breaks that swing, it means order flow is changing to the downside. i wouldnt enter long until some harmonics are completed
  • #25,130
  • Feb 9, 2017 11:32am Feb 9, 2017 11:32am
Quoting ujku80
{quote} if market breaks that swing, it means order flow is changing to the downside. i wouldnt enter long until some harmonics are completed
Yep, now that a new high has been established, you know the true swing low.
  • #25,131
  • Feb 9, 2017 11:41am Feb 9, 2017 11:41am
Quoting Harmonic1976
{quote} Yep, now that a new high has been established, you know the true swing low.
and SL hit. -9 pips let's if market will continue or it is overbought and will pull back
  • #25,132
  • Feb 9, 2017 11:52am Feb 9, 2017 11:52am
Quoting ujku80
{quote} and SL hit. -9 pips let's if market will continue or it is overbought and will pull back
When price made an equal top at the HOD, why did you not move your stop to BE given we were high in the curve so to speak?
  • #25,133
  • Feb 9, 2017 12:05pm Feb 9, 2017 12:05pm
Quoting crixus
{quote} When price made an equal top at the HOD, why did you not move your stop to BE given we were high in the curve so to speak?
it wasn't enough room. the idea was that price would continue higher like it did the rest of the day..straight up, no bumping around. and since the market made a new NSH albeit weak, it reinforced the idea that it should head north.

now we have a NSL. let's see if price is going south or will continue north.
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  • #25,134
  • Feb 9, 2017 12:15pm Feb 9, 2017 12:15pm
there is no more trading today, but just for fun and learning purposes we're doing this. so that we could learn from our mistakes.
  • #25,135
  • Feb 9, 2017 1:36pm Feb 9, 2017 1:36pm
wishing GBPNZD would put me out of my misery
I'm not going to launch a rescue mission here as not in my repertoire but will gladly get out at breakeven which would make today a 3/3 be day
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Bulls nor Bears may hide their intent.
  • #25,136
  • Feb 9, 2017 1:40pm Feb 9, 2017 1:40pm
This was mi trade for today... arrow on the right was mi entry.

And the second chat was the result....

Mi expectation for the first chart was that price would go to the 6.18 but instead it shoots up....
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  • #25,137
  • Feb 9, 2017 4:34pm Feb 9, 2017 4:34pm
Quoting wigtrade
{quote} thanks for your feedback, I agree with your analysis (although had not analysed on such an in depth bar by bar level I admit) which is why I waited for a stronger rotation here out of interest would you have taken the second rotation where I went long? and how would you have managed this trade? benefit of hindsight notwithstanding
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  • #25,138
  • Feb 9, 2017 6:18pm Feb 9, 2017 6:18pm
Fibonacci question. I was monitoring a potential short setup on Gold given the strength of the equity indices and i saw this retracement to the 38.2%. My question is in relation to the target. What is the target in terms of fib. extention when the trend resumes at the 38.2% retracement level?

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  • #25,139
  • Feb 9, 2017 7:00pm Feb 9, 2017 7:00pm
Hello Traders, I will catch up tomorrow I just wanted to make to post session video showcasing all of the mistakes I made. Please look at it and see how sometimes even professionals screw up. Trade well and see you all tomorrow for a better session. Enough crap!

https://youtu.be/yI4Pa4Qvs9k
If you fail to plan, you plan to fail.
  • #25,140
  • Feb 9, 2017 9:41pm Feb 9, 2017 9:41pm
Quoting Mr. Pip
Hello Traders, I will catch up tomorrow I just wanted to make to post session video showcasing all of the mistakes I made. Please look at it and see how sometimes even professionals screw up. Trade well and see you all tomorrow for a better session. Enough crap! https://youtu.be/yI4Pa4Qvs9k
I like this video. Honesty in acknowledging loss. Serves to remind all of us to trade following the rules and to list out all the facts before trading.

See the price action for what it is, instead of what we like to see.

*I felt the sting as well when i take a loss of $1.5 (0.01 lot = 15 pips) even as the monetary value is insignificant; because it is due to my own carelessness or biased expectations.
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