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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

  • #28,861
  • May 16, 2017 9:44am May 16, 2017 9:44am
Quoting Victor_Lin
{quote} Just less than 1 minute after I posted.
Let's wait for a correction to go short now.....
  • #28,862
  • May 16, 2017 9:50am May 16, 2017 9:50am
Quoting PeterT
Short USDJPY longer term expectation NSL Now in a correction. bulls momentum weakning, projection decreasing price at 78.6% correction of previous swing down SL above swing, profit target at 1:1 of previous swing down {image}
Phew what a wild ride. Hard to stay robot in a trade like this
Managed to keep cool, +59 pips
My best result ever

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  • #28,863
  • May 16, 2017 9:50am May 16, 2017 9:50am
Some nice pips ....

If this keeps on, I get out of practice, and double quantities

PS: Instrument is GER30, Dax Index

PS2: It doesn't show on the chart, but it was reaching a Supply zone
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  • #28,864
  • May 16, 2017 10:15am May 16, 2017 10:15am
Nice catch guys. And I'm sitting here counting air molecules because of my strict entry rules for 6J
  • #28,865
  • May 16, 2017 10:19am May 16, 2017 10:19am
Quoting x3m-PippiN
Nice catch guys. And I'm sitting here counting air molecules because of my strict entry rules for 6J
Don't break the rules !! 6J is EURUSD or USDJPY ?
  • #28,866
  • May 16, 2017 10:20am May 16, 2017 10:20am
Quoting pereiraalex
{quote} Don't break the rules !! 6J is EURUSD or USDJPY ?
JPYUSD futures
  • #28,867
  • May 16, 2017 10:21am May 16, 2017 10:21am
Quoting x3m-PippiN
Nice catch guys. And I'm sitting here counting air molecules because of my strict entry rules for 6J
counting air molecules

Which rule made you not take the entry then if I may ask?
I'm asking because maybe I was not careful enough..
  • #28,868
  • May 16, 2017 10:23am May 16, 2017 10:23am
Quoting x3m-PippiN
{quote} JPYUSD futures
Be carefull with this long term level:
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  • #28,869
  • May 16, 2017 10:31am May 16, 2017 10:31am
Quoting PeterT
{quote} counting air molecules Which rule made you not take the entry then if I may ask? I'm asking because maybe I was not careful enough..
I wanted to get long but for me a rotation candle shouldn't be rejected. In today's case the rotation got rejected for 1/3 of its total volume which isn't per my rules. I know that Damian would take this but I've noticed that with 6J most of the times this is poor rotation.
The second candle was a doji but it also got rejected.
There were other rotation candles afterwards but I don't like chasing price like that.
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Quoting pereiraalex
{quote} Be carefull with this long term level: {image}
Thanks but I don't pay much attention to long term levels on 6J ...
  • #28,870
  • May 16, 2017 10:42am May 16, 2017 10:42am
NQ +1.75
YM +39

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  • #28,871
  • May 16, 2017 10:47am May 16, 2017 10:47am
Will call it a day. Good luck for those still hunting.....
  • #28,872
  • May 16, 2017 10:49am May 16, 2017 10:49am
Quoting x3m-PippiN
{quote} I wanted to get long but for me a rotation candle shouldn't be rejected. In today's case the rotation got rejected for 1/3 of its total volume which isn't per my rules. I know that Damian would take this but I've noticed that with 6J most of the times this is poor rotation. The second candle was a doji but it also got rejected. There were other rotation candles afterwards but I don't like chasing price like that. {image} {quote} Thanks but I don't pay much attention to long term levels on 6J ...

You don't mark those areas of supply and demand on a bigger timeframe chart ?
  • #28,873
  • May 16, 2017 10:56am May 16, 2017 10:56am
Quoting Milfortra
{quote} Let's wait for a correction to go short now.....
Bulls seem strong ...
  • #28,874
  • May 16, 2017 10:57am May 16, 2017 10:57am
Quoting pereiraalex
{quote} You don't mark those areas of supply and demand on a bigger timeframe chart ?
Nope. I look only at short term levels to the left. When you approach a level from a larger TF you can usually make a pretty good assessment on what's going to happen by looking at the volume of the bars so I don't see much point in drawing them. This is strictly only on 6J 144 tick chart ... I've been trading it for the past 6-7 months and that's my observation.

On YM I do the opposite. I don't pay that much attention to small levels. But look at the big ones and I draw them as accurately as possible.
  • #28,875
  • May 16, 2017 11:05am May 16, 2017 11:05am
Quoting jmezz
NQ +1.75 YM +39 {image}{image}
YM hit targets I was eyeing.
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  • #28,876
  • May 16, 2017 11:11am May 16, 2017 11:11am
Quoting x3m-PippiN
{quote} Nope. I look only at short term levels to the left. When you approach a level from a larger TF you can usually make a pretty good assessment on what's going to happen by looking at the volume of the bars so I don't see much point in drawing them. This is strictly only on 6J 144 tick chart ... I've been trading it for the past 6-7 months and that's my observation. On YM I do the opposite. I don't pay that much attention to small levels. But look at the big ones and I draw them as accurately as possible.

Never thought of it that way, I mean, having different ways of trading depending on the instrument.

Why does it happen ? Is it because one is currencies and other stock indexes ?
  • #28,877
  • May 16, 2017 11:21am May 16, 2017 11:21am
Quoting x3m-PippiN
{quote} I wanted to get long but for me a rotation candle shouldn't be rejected. In today's case the rotation got rejected for 1/3 of its total volume which isn't per my rules. I know that Damian would take this but I've noticed that with 6J most of the times this is poor rotation. The second candle was a doji but it also got rejected. There were other rotation candles afterwards but I don't like chasing price like that. {image} {quote} Thanks but I don't pay much attention to long term levels on 6J ...
Thanks for the explanation.
I also watch if the candles are not rejected too much. Not only at close but also while they're forming.
Don't have a written rule for it though. It depends on how I feel about taking it.
  • #28,878
  • May 16, 2017 11:22am May 16, 2017 11:22am
Quoting pereiraalex
{quote} Never thought of it that way, I mean, having different ways of trading depending on the instrument. Why does it happen ? Is it because one is currencies and other stock indexes ?
Not sure. I think it depends on the trader as well. I mean I'm not very good at trading the YM. I'm much more profitable on 6J.
Also I trade 6J for the immediate OF and YM for the bigger picture.
  • #28,879
  • May 16, 2017 12:12pm May 16, 2017 12:12pm
Funny thing, I entered short on YM with my trade managment setting. I did not have time to adjust my TP, that TP was hit; +15.

Good day
  • #28,880
  • May 16, 2017 12:13pm May 16, 2017 12:13pm
Quoting jmezz
NQ +1.75 YM +39
Nice trading guys. I saw you were not filled at 94. What you can do is to use a bracket order OCO. Could have been a buy limit near the Low as you did with a stop limit just above the last pivot structure near where you entered but a bit below. This way no matter what, you do not chase and are sure to get filled to the upside at one of your two levels without having to cancel manually one of the order.
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