Ratios & Harmonics: a Different Way to Trade

Congrats Jmezz.

Short technical question (hope you do not mind if I explain my point on your posted screenshot): Why do you take this harmonic line (the one you draw) and not the one I draw as a potential target?
On the white line, since price accelerated it would have been good to look for extended targets (I took profit on the white line).

Hey PipTrendz

I also had the impression the thread got more quiet because I joined
In the past few weeks I learned a lot about my trading psychology and my errors.
I learned a lot from others.
Still letting it sink in.
Sometimes I'm making good trades, but always losing it all again because of stupid mistakes.
I discovered I was taking too many trades.
And way too many were wrong trades, most common mistakes I made:
- not waiting for enough confluence
- not waiting for price to reach my entry zone
- taking trades against OF in anticipation of a correction
- trying to compensate a losing trade with a new trade using a bigger lot size (very big mistake)
And almost every single time I KNEW when I entered what mistake I was making, but I entered anyway, I guess hoping it would all turn out ok.

After a few weeks I discovered that I entered bad trades because I didn't care about the money I lost, the amount was too small.
Now this may seem stupid at first sight, but I decided to use a bigger account, so I will lose money that I don't want to lose.
I can still afford it, but it's more than just some change now :-)
And that seems to work better for me.
I know I can be a profitable trader. I just have to eliminate the bad trades I take.
Today I showed a lot of patience.
I made 46 pips and a few BEs.
Ironically, the winner was against the OF.
But I had a great R:R so I couldn't resist (SL was a few pips below entry).

Nice to see you had a good trade too
Grtz Peter

Hey jmezz

Thanks for always posting your trades so well documented.
Every one of your posts contains very useful information.
To see what you see and your thought process.. Learning a lot from it!
Just wanted to say that

Grtz Peter

Got +15 on YM. I do not like the PA right now.

That was fast Evocpr19!

YM has been in this range for the past 24 hours. Need to wait for PA to tell us the direction first.

Projection weakening. May try for an ABCD completion if the movement of the bulls to my AOI is crappy enough.

Shorted. Was late....

May be a short lived trade.

Reducing risk as price is not moving as expected.....

Did not have time to move TP. Out with +12 PIPs

Waiting for the bearish momentum to weaken with a good rotation to the upside for a 1 to 1 completion....

It may not happen......

NQ +9.5

Long with tight stop.

Technically you can use both, and I do like to keep both in mind in scenarios such as this.

But basically, the white line you drew was basically already tested on that very first retest. Price did not complete the test but imo it already had a go at that harmonic line. I like to keep in mind large swings that get broken and then wait to see if an opportunity arises where orderflow is pointing to a retest.

Since the shorter tf line (white) was already basically tested, I thought that if we could not break to a new low that we would try for the larger time frame (green) test.

Price did hit that completion after my exit. I need to keep in mind that once I exit a trade I can play shorter swings until that target is reached.

Glad you're getting something from my posts, a lot of times I don't know if they really help anyone here haha.

Edit - Want to clarify something regarding the trades that I post... These trade that work out are usually not my first inclinations or first thoughts of what is going to happen. I am constantly looking at pa and assessing then reassessing what it means in the grand scheme of what's going on and where I think opportunities may lie. 1 second I might be looking short and then something happens then I switch to looking for a long. I am going back and forth on ideas often. I know this is much different than what Damian teaches here as he has taught to stick to expectations and let price confirm. This is just how my trading has evolved since studying the concepts in this thread. I don't want to give off the impression that I look at a chart and the first idea that comes to mind is what I post here. I use the concepts from this thread mixed with concepts I've uncovered for myself through my own study, which a lot of times entails looking for entries / targets against expectation and before a completion point.

Risk free trade....

Out at BE

YM

Was looking for possible long if we held 39, possibly can retest ubd at 170, but that rotation was way too big.

Anyone looking for a short at the golden ratio of the 1 to 1 completion at around 21161 area?

I was expecting you to long the YM almost similar with my entry but apparently your candles were not the same as mine.....

yes, waiting for the rotation bar triggering at that area.