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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

  • #25,841
  • Feb 22, 2017 12:46pm Feb 22, 2017 12:46pm
Heavy breakdown on this last harmonic completion but SL still safe. Drawdown of 10 pips and it's getting really close to decision time. Long term OF is bearish and so is intraday so come on short term get on board!
  • #25,842
  • Feb 22, 2017 1:22pm Feb 22, 2017 1:22pm
Stop loss was hit by a news event by 1 pip only to turn around and fall like a stone...... Notes on chart but on the plus side I was still correct in the analysis!
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  • #25,843
  • Feb 22, 2017 1:46pm Feb 22, 2017 1:46pm
Quoting wigtrade
{quote} that seems very counter your usual style, are you trying a different method here?
Yeah made a couple small changes.

That was just an awful short idea all around, no matter how you cut it. I thought that the lack of reaction at the onl retest then rotation down was a green light for a lower target at 33.

Should have known not to even try to press short because this market just wants nothing to do with going lower.
  • #25,844
  • Feb 22, 2017 1:51pm Feb 22, 2017 1:51pm
If anyone gets a minute, can you confirm if I entered this with the correct logic?
The aim was for an aggressive C Entry.

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  • #25,845
  • Feb 22, 2017 2:19pm Feb 22, 2017 2:19pm
Quoting Avail
If anyone gets a minute, can you confirm if I entered this with the correct logic? The aim was for an aggressive C Entry. {image}
I give it a try:
Since price did not close over 78.4 and price weakened in the demand area (1 candle up versus 4 down for doing the same), it appears good to me. Your stop should have been lower, slighty below A.
However, I would not have taken it because of the price acceleration (first move in the demand area; I mean the 4 candles pressing in the demand area) and bulls on the left were not impressive.
Nethertheless, I have to admit that it would have worked out.

If something is wrong, please correct.
  • #25,846
  • Feb 22, 2017 3:11pm Feb 22, 2017 3:11pm
Quoting Mr. Pip
{quote} The trade plan is more in depth. Having a checklist will help you with entry and things like that. But the trade plan will address trade management and money management. You could have an outline of your process as a checklist before taking the trade to make sure you did not overlook something.
Thanks. I'll work on both of them.
Play the hand you were dealt.
  • #25,847
  • Feb 22, 2017 4:32pm Feb 22, 2017 4:32pm
Quoting Mr. Pip
{quote} The expectation does not change until price changes it. We never know with exact certainty how long the expectation will hold as we can always into into a range and it may delay thing. But every new trading session we must see if the expectation is the same of if it has changed. As for FX vs Futures. I am in love with the Futures market. There is not spread changes and the data is not filtered like the FX market data is. There are no games and everyone is equal from a pricing stand point. The cost will vary slight depending on which broker...
Ok you convinced me . I did a LOT of research into FX before I ever showed any true interest but you got me doing the same thing with Futures now lol. I like what have learned so far and I would be lying if I said your opinion is not a major influence on me (and probably everyone else in the thread). I use a mac for my job and unfortunately that are almost NO trading platforms that are mac compatible, except TOS of course, but I have read that TOS is not particularly favorable for trading futures (high commissions). At the moment, TOS is my only option but I wanted to ask the group if there are any other (mac compatible) trading platforms that might be a better fit for trading futures. Naturally, NT is something I would like to get my hands on but until I get a PC thats not going to happen. Also - what are your favorite futures to trade? I have been playing around with ES, YM, and E7. Any input? Thanks!
  • #25,848
  • Feb 22, 2017 4:36pm Feb 22, 2017 4:36pm
Quoting Avail
If anyone gets a minute, can you confirm if I entered this with the correct logic? The aim was for an aggressive C Entry. {image}
You definitely have the right swing ID for the aggressive "C". If I was looking for a long, I would have entered on one of the candles that I put a red arrow by. They show rotation with some intention.

Depending on the orderflow you are following you could have also played it for a short. Price made a NSL on the intraday orderflow, so looking for a short would have been an option as well. Even though the bulls eventually drove it north, the justification for shorting would have been there as well. Hope this helps.
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Damn The Torpedoes, Full Speed Ahead!
  • #25,849
  • Feb 22, 2017 6:28pm Feb 22, 2017 6:28pm
Quoting Lundies10
{quote} Ok you convinced me . I did a LOT of research into FX before I ever showed any true interest but you got me doing the same thing with Futures now lol. I like what have learned so far and I would be lying if I said your opinion is not a major influence on me (and probably everyone else in the thread). I use a mac for my job and unfortunately that are almost NO trading platforms that are mac compatible, except TOS of course, but I have read that TOS is not particularly favorable for trading futures (high commissions). At the moment,...
You could run window on MAC and run any trading platform you wish. I'm not a mac person but I believe there is a built in interface to install windows on a mac or through a software called Parallels
If you fail to plan, you plan to fail.
  • #25,850
  • Feb 22, 2017 6:29pm Feb 22, 2017 6:29pm
Quoting DizzleFX
{quote} You definitely have the right swing ID for the aggressive "C". If I was looking for a long, I would have entered on one of the candles that I put a red arrow by. They show rotation with some intention. Depending on the orderflow you are following you could have also played it for a short. Price made a NSL on the intraday orderflow, so looking for a short would have been an option as well. Even though the bulls eventually drove it north, the justification for shorting would have been there as well. Hope this helps. {image}
Very Nice!
If you fail to plan, you plan to fail.
  • #25,851
  • Feb 22, 2017 6:35pm Feb 22, 2017 6:35pm
Quoting Lundies10
{quote} ...I use a mac for my job and unfortunately that are almost NO trading platforms that are mac compatible, except TOS...
An excellent platform for Mac/Windows is motivewave:
http://www.motivewave.com/home.htm
  • #25,852
  • Feb 22, 2017 7:59pm Feb 22, 2017 7:59pm
Dear Damian,

I'm wondering why did you enter a long there?

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At 1, price failed to make a NSH - weakness in bulls

At 2, the downswing was strong (bar by bar, momentum, projection) - further weakness in the bulls as it corrected 100% of its prior swing to NSH.
  • #25,853
  • Feb 22, 2017 11:23pm Feb 22, 2017 11:23pm
Quoting Mr. Pip
{quote} You could run window on MAC and run any trading platform you wish. I'm not a mac person but I believe there is a built in interface to install windows on a mac or through a software called Parallels
I am familiar with running windows on Mac though it is not a process I am willing to go through at the moment. Lets say its a 3:1 RR There are plenty of cheap windows laptops out there so I may explore that option ... I'll stick with TOS for now since I am still demo trading anyway.

Quote
An excellent platform for Mac/Windows is motivewave:
http://www.motivewave.com/home.htm

Thanks, Crix I will look into this.

I know its been beat to death around here but I have to say again, Mr. P thank you thank you thank you for running this thread. It's invaluable to us noobs (and veterans). I will be posting some chart drawings soon but must reiterate that I am behind in the lessons so you can expect order flow analysis charts. Thanks again and good night!
  • #25,854
  • Feb 23, 2017 4:28am Feb 23, 2017 4:28am
I'm having a little trouble with something, and hoping for some help. I know Mr Pip has covered reading different order flow in a few videos, but I'm still not 100% confident on this. Hoping someone can critique my reasoning.

In the attached image you could read either the two red lines, or the single blue as main swings. Depending on which you read there is a different LH, and therefore as it stands at the right of the chart, we have an expectation of a NSH or a NSL depending how you read the swings. The second chart attached is similar. Depending on where you take the swings there are different expectations (in the eclipse zone I've highlighted).

Should I just read these as intra-day vs longer term order flows? So I could really just assess the strength and weaknesses in the bulls and bears and trade either short or long depending on if price came to a good zone, and if it looked like strength were in the bulls or the bears?
Attached Image(s) (click to enlarge)
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  • #25,855
  • Feb 23, 2017 4:53am Feb 23, 2017 4:53am
Quoting tmiddled
I'm having a little trouble with something, and hoping for some help. I know Mr Pip has covered reading different order flow in a few videos, but I'm still not 100% confident on this. Hoping someone can critique my reasoning. In the attached image you could read either the two red lines, or the single blue as main swings. Depending on which you read there is a different LH, and therefore as it stands at the right of the chart, we have an expectation of a NSH or a NSL depending how you read the swings. The second chart attached is similar. Depending...

Hi Tmiddled,
In one of the videos Mr Pip points this out, The video is called Swing ID,

Start with current price and the swing this is within is the main swing.
Then repeat the process to see what that swing is within.
New to this and still finding my footing. Hope an experienced member expands on this.
  • #25,856
  • Feb 23, 2017 4:55am Feb 23, 2017 4:55am
Quoting Lundies10
{quote} Ok you convinced me . I did a LOT of research into FX before I ever showed any true interest but you got me doing the same thing with Futures now lol. I like what have learned so far and I would be lying if I said your opinion is not a major influence on me (and probably everyone else in the thread). I use a mac for my job and unfortunately that are almost NO trading platforms that are mac compatible, except TOS of course, but I have read that TOS is not particularly favorable for trading futures (high commissions). At the moment,...
I trade on iMAC. Run windows via Parallels. Trading platform is Sierra Charts (very light on CPU usage)
It's a dirty job but someone's gotta do it!
  • #25,857
  • Feb 23, 2017 5:18am Feb 23, 2017 5:18am
USDCAD 5m short from rotation candle
Attached Image (click to enlarge)
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Also short CADJPY 30m with smaller stop
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Long and short CAD at the same time
at least one should work out in the end, I hope
the 3rd wave is the crowd's wave
  • #25,858
  • Feb 23, 2017 5:41am Feb 23, 2017 5:41am
Good Morning

Well .... trying to long EURUSD. Already tried before, but got stopped out at +7 pips

This time, doing +1 pip and gonna close it FAST!
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  • #25,859
  • Edited 6:57am Feb 23, 2017 6:13am | Edited 6:57am
USDJPY trade..
I hate when it happens. 10 mins and price back to same levels.
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Update my target was hit lol.
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  • #25,860
  • Feb 23, 2017 6:26am Feb 23, 2017 6:26am
Quoting juriFX
USDCAD 5m short from rotation candle {image}
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TP hit, painless trade
the 3rd wave is the crowd's wave
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