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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

  • #29,301
  • Jun 14, 2017 9:38am Jun 14, 2017 9:38am
Might be stuck for awhile. FOMC day. Waiting for a rate decision confirmation.
  • #29,302
  • Edited 10:19am Jun 14, 2017 10:05am | Edited 10:19am
NQ +15.25
YM +9

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Edit - attempted another short but was taken out at b/e
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  • #29,303
  • Jun 14, 2017 10:13am Jun 14, 2017 10:13am
Quoting jmezz
NQ +15.25 YM +9 {image}{image}

I have been studying your charts on drawing demand/supply zones. I assume that pre-high/ pre-low is for the order flow on the daily candles. However, what is reg-open?

I am impressed with your supply demand zones. Drawing them correctly is a big weakness for me. I saved your previous comments about them from several post back. It has helped me to see some new exciting things. Thanks for your charts that have commentary!!
Luck has no place in trading. Leave that for the poker table.
  • #29,304
  • Jun 14, 2017 10:16am Jun 14, 2017 10:16am
Quoting jmezz
NQ +15.25 YM +9 {image}{image}
Nicely done as usual!

  • #29,305
  • Jun 14, 2017 10:17am Jun 14, 2017 10:17am
Quoting evocpr19
{quote} Short question Jmezz. I took the same short trade (your second trade yesterday which gave you +30). However, I bailed out on the first swing down (test of previous low; white line on your chart). Do you have any special hint on how to determine when to stay in for the full move (as you did) and when to TP (as I did)? Hope you know what I mean. My reasoning for taking this trade was: We broke structure (low of your first line) and we had a 1:1 completion to the upside (point of entry short) => potential NSL (your second line). {image}
When price was on its way down I was paying attention to these swing points to the left. As long as price held under those or stayed weak around them then I thought that we'd be good for lower.

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TBH, I'm kind of surprised price didn't make a NSH after that first test of the swing point you marked in white.
  • #29,306
  • Jun 14, 2017 10:23am Jun 14, 2017 10:23am
Quoting Pair-me-up
{quote} I have been studying your charts on drawing demand/supply zones. I assume that pre-high/ pre-low is for the order flow on the daily candles. However, what is reg-open? I am impressed with your supply demand zones. Drawing them correctly is a big weakness for me. I saved your previous comments about them from several post back. It has helped me to see some new exciting things. Thanks for your charts that have commentary!!
Pre high / low marks the premarket high and low, I like to keep an eye on these levels because statistics show there is a 98% probability that one or the other will be tested in RTH.

Reg open is the rth open.

Yeah my s/d zones and levels have evolved since my time in this thread. I find it's better for me to keep track of the levels at the starts of legs as you can use the order flow to gauge which levels price wants to hit.

Glad you're gaining something from my charts
  • #29,307
  • Jun 14, 2017 10:48am Jun 14, 2017 10:48am
Quoting jmezz
Edit - attempted another short but was taken out at b/e
How quick do you move to BE? How does this change when you manage your SL aggressively?
  • #29,308
  • Jun 14, 2017 10:54am Jun 14, 2017 10:54am
Quoting ckh626
{quote} How quick do you move to BE? How does this change when you manage your SL aggressively?
When it's a bounce play off a supply or demand level (such as this one) I usually move to b/e or just above / below the swing almost instantaneously. The level should hold and price shouldn't get back beyond it.

That's why I've been trying to spend more time researching these levels because the risk is so small and you can remove some / all of it right away.

Not to mention, I'll like it better when I'm trading multiple contracts where I can scale 1 out on the initial bounce then hold for more or get taken out at b/e while still having made money.

I've noticed with these levels that you can play them in direction of order flow and by the time you'd get a rotation bar, you're already up multiple points. Makes it a little easier to manage in case price comes back to take you out, it's not such a large loss.
  • #29,309
  • Jun 14, 2017 10:55am Jun 14, 2017 10:55am
Quoting jmezz
{quote} Pre high / low marks the premarket high and low, I like to keep an eye on these levels because statistics show there is a 98% probability that one or the other will be tested in RTH. Reg open is the rth open. Yeah my s/d zones and levels have evolved since my time in this thread. I find it's better for me to keep track of the levels at the starts of legs as you can use the order flow to gauge which levels price wants to hit. Glad you're gaining something from my charts
Awesome info..

Do you use United States Eastern time 9:30 am to trade your RTH?
Luck has no place in trading. Leave that for the poker table.
  • #29,310
  • Jun 14, 2017 11:36am Jun 14, 2017 11:36am
Quoting Pair-me-up
{quote} Awesome info.. Do you use United States Eastern time 9:30 am to trade your RTH?
Yeah
  • #29,311
  • Jun 14, 2017 12:56pm Jun 14, 2017 12:56pm
GBPAUD +9 BE

I kinda cheated and took a early trade on the green arrow because it was in that zone for over an hour and it seemed like the bulls looked weak in coming up so it seemed like a shallow correction and I took the trade. As soon as it reached the Fib 127.2, i brought to BE +9 and got stopped out at the red arrow...So outlook has changed in the short term to a NSH and in intraday it is a NSL

The red line is the expectation failure

Can i get some feedack if I'm looking at it right

Thanks
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  • #29,312
  • Jun 15, 2017 2:44am Jun 15, 2017 2:44am
Quoting RajD
GBPAUD +9 BE I kinda cheated and took a early trade on the green arrow because it was in that zone for over an hour and it seemed like the bulls looked weak in coming up so it seemed like a shallow correction and I took the trade. As soon as it reached the Fib 127.2, i brought to BE +9 and got stopped out at the red arrow...So outlook has changed in the short term to a NSH and in intraday it is a NSL The red line is the expectation failure Can i get some feedack if I'm looking at it right Thanks {image}
Hey RajD

The trade got you green pips but it was a bit risky in my opinion.
Primarily because you traded right into the support zone that you marked in grey so you had no room to protect at all.
Ideally, you get to BE when price reaches that level. So you were in too late.
And because your stop placement was difficult. If you put it above the major swing, you had bad R:R. If you put it above the short term swing, you had higher probablity of being taken out.

Just my 2 student cents.
I'm not saying I never do this stuff anymore
grtz Peter
  • #29,313
  • Jun 15, 2017 2:49am Jun 15, 2017 2:49am
Waiting for a little deeper correction on the Dax let see if we can get one
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  • #29,314
  • Jun 15, 2017 3:06am Jun 15, 2017 3:06am
Quoting PeterT
{quote} Hey RajD The trade got you green pips but it was a bit risky in my opinion. Primarily because you traded right into the support zone that you marked in grey so you had no room to protect at all. Ideally, you get to BE when price reaches that level. So you were in too late. And because your stop placement was difficult. If you put it above the major swing, you had bad R:R. If you put it above the short term swing, you had higher probablity of being taken out. Just my 2 student cents. I'm not saying I never do this stuff anymore grtz...
Agree, and if i may add to that.

I think that Mr.Pip explained that it is a correction when it hits the 38.2 fib.
So in this case the 'Green line' didn't hit the 38.2 so it can't be seen as a correction.

So you are still in the main swing 'Blue line' and so you are still expecting a NSL
Someone please correct me if i am wrong, also still learning
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  • #29,315
  • Jun 15, 2017 4:02am Jun 15, 2017 4:02am
Quoting RajD
GBPAUD +9 BE I kinda cheated and took a early trade on the green arrow because it was in that zone for over an hour and it seemed like the bulls looked weak in coming up so it seemed like a shallow correction and I took the trade. As soon as it reached the Fib 127.2, i brought to BE +9 and got stopped out at the red arrow...So outlook has changed in the short term to a NSH and in intraday it is a NSL The red line is the expectation failure Can i get some feedack if I'm looking at it right Thanks {image}
Use clear high clear low.

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1) Use clear high clear lows to draw your chart.

2) No structure to the left; hence not an entry point.

quoting Mr Pip: "Try not to hold price to a specific fib level. instead, take the main swing and the structures to the left that would affect the correction. Assess which structure is the strongest and will probably stop the correction."
  • #29,316
  • Jun 15, 2017 4:09am Jun 15, 2017 4:09am
Quoting civo
{quote} Agree, and if i may add to that. I think that Mr.Pip explained that it is a correction when it hits the 38.2 fib. So in this case the 'Green line' didn't hit the 38.2 so it can't be seen as a correction. So you are still in the main swing 'Blue line' and so you are still expecting a NSL Someone please correct me if i am wrong, also still learning {image}

Agree to both what you and PeterT are saying...thats why i started my statement saying i cheated...i didn't go by the main swing although i wanted to. When Peter told me that a major correction like that wouldnt happen, i decided to look at the short term order flow and when i saw weakness on the buying candles i decided to sell after that big bear candle above my entry..2nd thing that got me into the trade was the strength of the bears overall...i placed my stop on the 38.2 fib line and moved my stop to BE when it reached 127.2 (the Fib shouldnt be there in the first place since i didnt take the trade based on that swing)

Anyways will try to follow rules...but love to break them now and then
  • #29,317
  • Jun 15, 2017 5:08am Jun 15, 2017 5:08am
USDJPY long
Bulls were showing some strength with a few nice candles.
Price broke out of consolidation triangle, came back to test tested triangle TL, then went up.
When it corrected and tested the structure to the left, I took the trade.
Didn't wait for a confirmation candle because I saw no strength in the bears in this swing and I wanted the best price.
I put SL below the test of the TL. I assume my analysis is wrong when proce gets there.
The blue zone above is a possible strong resistance area. If price gets there I go to BE at least or take profit.

What I am a bit worried about is the structure to the far left, which I am trading into.
Hopefully it will not generate a too big reaction of the bears and take me out.

Feel free to comment!

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  • #29,318
  • Jun 15, 2017 5:59am Jun 15, 2017 5:59am
Quoting PeterT
USDJPY long ...
SL hit -10 pips
Maybe it was a bad idea to trade such immediate orderflow. Should have used the larger swings for higher probability of success. Have to make this a rule in my trade plan.
  • #29,319
  • Jun 15, 2017 6:44am Jun 15, 2017 6:44am
Quoting kelvinyun
{quote} Use clear high clear low. {image} 1) Use clear high clear lows to draw your chart. 2) No structure to the left; hence not an entry point. quoting Mr Pip: "Try not to hold price to a specific fib level. instead, take the main swing and the structures to the left that would affect the correction. Assess which structure is the strongest and will probably stop the correction."
So the red line you drew is the intraday clear high and low
  • #29,320
  • Jun 15, 2017 6:54am Jun 15, 2017 6:54am
Quoting PeterT
{quote} SL hit -10 pips Maybe it was a bad idea to trade such immediate orderflow. Should have used the larger swings for higher probability of success. Have to make this a rule in my trade plan.
It did turn out to be a long. Your SL was not at the appropriate place otherwise would have been a great trade for you

Expectation was a NSH so you were in the right direction
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