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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

  • #27,161
  • Mar 22, 2017 9:06am Mar 22, 2017 9:06am
Looking for shorts but needed a deeper correction and moreover did not like the rotation.
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  • #27,162
  • Mar 22, 2017 9:12am Mar 22, 2017 9:12am
Quoting Milfortra
Looking for shorts but needed a deeper correction and moreover did not like the rotation. {image}
Looks like I missed this one.
  • #27,163
  • Mar 22, 2017 9:48am Mar 22, 2017 9:48am
Hi Guys,

In Mr Pips absence, i would like to show everyone how powerful order flow, expectation, fib ratios and S%D really are.

Please see screenshot attached. Mr Pip has given us a methodology that should make us profitable if done right. Thank you Mr Pip

The Blue Blocks are S&D Zones, because of the momentum price moved away from that area.
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  • #27,164
  • Mar 22, 2017 10:23am Mar 22, 2017 10:23am
Traded through high volatility and was lucky to escape with green pips. Calling it a day. Good luck to those still hunting.
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  • #27,165
  • Mar 22, 2017 10:39am Mar 22, 2017 10:39am
Quoting Milfortra
Traded through high volatility and was lucky to escape with green pips. Calling it a day. Good luck to those still hunting. {image}
Good that you placed your sl at BE. It seems like the short term order flow changed to the upside...as for me, I havent entered today yet. I need to digest some food first; my mind works better when my belly is full.
  • #27,166
  • Mar 22, 2017 12:07pm Mar 22, 2017 12:07pm
Quoting finfresh
{quote} Hi Ockham. Just wondering, did you consider this trade risky due to the NSL on the short term order flow, or did you count this as a re-rest of the range? I was thinking a quick short against the long term order flow, but wasn't game enough to take anything.
In my understanding even in short term we were more on a LH multiple re test than a NSL, momentum was clearely more bearish and it is the reason why i considered this trade as risky, but also still ranging in some complex correction so expectation was still a NSH, was not a good time as you said to enter short and the only trade at this time was a long with this weak rotation, i got +5 and went to be +1 and market reverse and was stopped. Hope i'm clear enough with my poor English
There is no way to happiness , happiness is the way.
  • #27,167
  • Mar 22, 2017 12:27pm Mar 22, 2017 12:27pm
Quoting Ockham
{quote} In my understanding even in short term we were more on a LH multiple re test than a NSL, momentum was clearely more bearish and it is the reason why i considered this trade as risky, but also still ranging in some complex correction so expectation was still a NSH, was not a good time as you said to enter short and the only trade at this time was a long with this weak rotation, i got +5 and went to be +1 and market reverse and was stopped. Hope i'm clear enough with my poor English
Yes thanks for the explanation. I guess for me, it was a case of if in doubt, stay out, and there was certainly a lot of doubt there
  • #27,168
  • Mar 22, 2017 12:42pm Mar 22, 2017 12:42pm
Hello Traders, just wanted to give you all a heads up. I will be back on Monday. We are all doing great and I'm enjoying my family. Talk to you soon.
If you fail to plan, you plan to fail.
  • #27,169
  • Mar 22, 2017 5:37pm Mar 22, 2017 5:37pm
Quoting Mr. Pip
Hello Traders, just wanted to give you all a heads up. I will be back on Monday. We are all doing great and I'm enjoying my family. Talk to you soon.
Great to hear that all is well! Certainly missing you here in this thread but luckily we have your videos to keep us company while you are away. Have a great week ahead and say 'Hi' to your little one for us please. God bless and take care!
  • #27,170
  • Mar 23, 2017 4:13am Mar 23, 2017 4:13am
EJ short at Frankfurt Open (M5)
- Expecting at least a re-test of the Low
- Protected too early. I thought the shorter term structure would hold.
- Stopped out at BE my a fraction of a pip, then went to TP.

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  • #27,171
  • Mar 23, 2017 4:50am Mar 23, 2017 4:50am
Hello traders!

I noted many people posted charts with histograms attached.

Finally, I traced it back to a post by "Trader Dale" https://www.forexfactory.com/showthread.php?t=608433

It seems that these histograms indicators shows the volume of trades at different price levels.

This is consistent with the method Mr Pip is using, i.e. tick charts.

Just a thought - these indicators could be adapted into our trading by knowing the areas where buy/sale activities are the highest, hence these are the supply demand areas which we look out for to enter trades.
  • #27,172
  • Mar 23, 2017 5:28am Mar 23, 2017 5:28am
Quoting finfresh
EJ short at Frankfurt Open (M5) - Expecting at least a re-test of the Low - Protected too early. I thought the shorter term structure would hold. - Stopped out at BE my a fraction of a pip, then went to TP. {image}
Hi finfresh, this could be the main problem using lower TF, what "i try" to do to filter this if i take the same trade as yours, i think i will set to be as you but until your conviction is still the same i would like to enter again at the next bearish engulfing and set my sl to the 120.100 key level, of course it is a little bit more pain but imho we have to deal like this with this lower TF (which produces more noise) and our tight stop. Just my 2 cents of course and need to follow the trade and to stay near computer as well.
Regards
Ockham
There is no way to happiness , happiness is the way.
  • #27,173
  • Mar 23, 2017 6:12am Mar 23, 2017 6:12am
My three trades from tonight
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  • #27,174
  • Mar 23, 2017 6:59am Mar 23, 2017 6:59am
Quoting Ockham
{quote} Hi finfresh, this could be the main problem using lower TF, what "i try" to do to filter this if i take the same trade as yours, i think i will set to be as you but until your conviction is still the same i would like to enter again at the next bearish engulfing and set my sl to the 120.100 key level, of course it is a little bit more pain but imho we have to deal like this with this lower TF (which produces more noise) and our tight stop. Just my 2 cents of course and need to follow the trade and to stay near computer as well. Regards Ockham...
Thanks for your advice Ockham. Yes I see what you mean. I did think about a re-entry on the bearish candle following the one I got taken out on, but risk reward would not have been as good. My Trading Plan is to stick with the entries above the 50 where price has re-traced to at least the 61.8 level fib, with my stop above the previous swing low or swing high. I think I was a bit unlucky, just need to find that balance between letting expectations play out and protecting my trade at the right time.
  • #27,175
  • Mar 23, 2017 7:15am Mar 23, 2017 7:15am
Quoting Maule
{quote} GN 4Hr Trade. Update#5 Price getting closer to targets. Still not adjusting SL. (breathe price, breathe) {image}
GN 4Hr Trade. Update#6
Target hit on 2nd entry for +226 pips. Missed the 1st Trade TP by 5 pips.
Took allot of self control to not close early or move SL.
So Far the experiment looks good. Will not move SL to BE on a few more trades to confirm.
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Play the hand you were dealt.
  • #27,176
  • Mar 23, 2017 7:16am Mar 23, 2017 7:16am
EU 4Hr Trade.
Entered Long on Bull Rotation at 50%. TP@ the 138.2%
Short term orderflow (Blue Lines) in line with long term orderflow (Yellow Lines)
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Play the hand you were dealt.
  • #27,177
  • Mar 23, 2017 8:25am Mar 23, 2017 8:25am
GBPUSD LONG,
Following orderflow, entry at nice rotation.
Possible 2 harmonic Projections. Have confluence.
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  • #27,178
  • Mar 23, 2017 9:35am Mar 23, 2017 9:35am
Structure reached with bearish rotation.

Move Stop
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  • #27,179
  • Mar 23, 2017 1:32pm Mar 23, 2017 1:32pm
Quoting Maule
{quote} GN 4Hr Trade. Update#6 Target hit on 2nd entry for +226 pips. Missed the 1st Trade TP by 5 pips. Took allot of self control to not close early or move SL. So Far the experiment looks good. Will not move SL to BE on a few more trades to confirm. {image}
GN 4Hr Trade. Update#7
Target hit on 1st entry for +139 pips.

Personal Comments/observations: I Noticed one particular live trade that Mr Pip did was during news time and the candles did not spike up/down. but if we trade FX during news time the candle always spikes. This got me thinking about the difference in Volatility between the FX and Futures markets. Along with what Mr Pip said about how FX brokers manipulate the spread. (I noticed my own in particular would widen the spread from 5 to 100 pips just before news.)
So I conclude that if you're trading Futures you can move your SL to BE with no worries of it getting hit often but if you trade FX you will almost always get your SL hit when you move it to BE because of (1) the Volatility and (2) the FX Broker widening the spread.
So as part of my trading plan I'll stop moving my SL to BE from now on.
Attached Image (click to enlarge)
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Play the hand you were dealt.
  • #27,180
  • Mar 23, 2017 3:25pm Mar 23, 2017 3:25pm
Quoting kelvinyun
Hello traders! I noted many people posted charts with histograms attached. Finally, I traced it back to a post by "Trader Dale" https://www.forexfactory.com/showthread.php?t=608433 It seems that these histograms indicators shows the volume of trades at different price levels. This is consistent with the method Mr Pip is using, i.e. tick charts. Just a thought - these indicators could be adapted into our trading by knowing the areas where buy/sale activities are the highest, hence these are the supply demand areas which we look out for...
This is called market profile or volume profile. Although Trader Dale may use it he is certainly not the originator of it. If you have ninjatrader there is even a volume profile indicator you can add to your charts. Note that for tick charts volume profile may be helpful but volume up down will add no real value. This really just helps you see the market for what it is, a live auction.
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