Ratios & Harmonics: a Different Way to Trade
{quote} GJ As price nears the 140 handle I've tightened up the stop to lock in 10 pips. {image} Masterrmind...........
GJ Longer term look. {image} Will likely wait until London session before looking at another entry but this does depend on what unfolds in the meantime. Note the aqua blue longer term swing shown on the chart. Note the 78.6 Fib of the longer term swing. Note the 1 to 1 completion to the downside shown by the pink trend lines. Note the chart structure in this zone. Note the confluence of factors. Note the potential risk to reward to the upside in such an entry. Now be patient and wait for the expectations to play out (if in fact they do) If the expectations...
{quote} GJ [M15 Chart] Price continues to slowly fall with my expectations ever so slowly being fulfilled. {image} If price drops below the 78.6 of the longer term swing say closer to the 88.6 Fib then the happier I will be since reward to risk will be all the better. A very real risk however is that price simply starts driving up the chart and leaves us all behind. But is this really much of a risk on our part? I'd argue that its not however an earlier entry could be made provided you are willing to take on slightly more risk. The choice is always...
{quote} GJ Now long. {image} SL < 20 pips TP > 40 pips Would have preferred my stop to be under the next lower swing but a 40 pip SL under these conditions is not to my liking hence 20 pips applied. Slightly aggressive on the entry but trade will be monitored throughout and closed if necessary. Entry price just above the 140 handle but this won't mean alot if the bears come in and rip price down ..... Go the bulls! Masterrmind..........
{quote} NJ 4 hour Chart. Update #1 Moved TP lower and SL to BE. Trailing aggressively as price close to past Demand Zone. 53 Pips+ Locked In. Risk Free Trade. Will sleep well tonight. {image}
zzz
{quote} GJ PA movement will dictate level at which BE is applied. {image} Still an aggressive looking entry. Masterrmind...........
{quote} NJ 4 hour Chart. Update #2 The Agressive Trailing continues. Moved SL even lower to new 4H candle close. Next update 4 hours later. Back to bed.
{quote} GJ Very close to being stopped out but SL placement held fast. {image} Lets see if these bulls can drive price up so I can at least remove some if not all of the risk on this trade. Certainly looking like I should have waited for a better entry to go long (light blue colored zone for instance .. haha) Masterrmind............
GJ [M5 Chart] Now long. {image} Masterrmind...........
{quote} GJ Stop now edged up to 139.600. TP unaltered. Masterrmind.........
