Harmonic Dance
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Thread: Harmonic Dance

  1. #1
    I will be starting a trade journal to record all my trades as I know how to use harmonics to trade. Im not very good at it yet, but definitely going live with a little account will allow me to record all my reasons therefore I rat myself out for losing $$ for nothing! And I can also improve. Beginning tomorrow will record my trades, each day, every day. My late new years commnt.



    Collection of Resources:
    Here I will collect some resources on harmonic trading I have found useful.

    Book
    Harmonic Trading, Volume One by Scott Carney

    Online
    Mr Pips Threads (a trader who trades for a living using harmonics):
    https://www.forexforum.co.za/cryptoc...er-hacker.html
    Mr Pips Charts (as of 1/24/2013) (some charts that mr pip have submitted, such as a number of his trades):
    Notice the article number is at the pdf above every image. Study why he left the drawings he did on the charts.
    https://www.forexforum.co.za/attachm...5932086408.pdf

  2. #2
    PRZs that would have worked

    This one I got before it went down, but didn't pull the trigger (no shooting star).


  3. #3
    1/26/2013
    Weekend Analysis
    the principal focus will be on using dominant and primary swings to ascertain the most likely PRZs.

    I will examine a very simple formation of a primary and dominant swing. There are approximately six potential PRZs that could form,based upon price action shaped.



    I will answer the questions based on the labels within this diagram.

    Question 1: How are impulse legs shortened when a turn about of the dominant trend happens?
    When is it justified to ignore the completion of an impulse leg?

    Normally, it stalls prior to the prz and then head to a fibonacci retracement of the original impulse. Additionally, the fibonacii extension, preferably the 127 and 138, of one of the impulses of the main leg should coincide.




    Issue two: Why and when can impulse legs stretch into the 161.8 zone and then transcend the 127 zone?
    When a 1:1 PRZ is going to be broken, it is going to pause before the PRZ and form a structure that pierces the PRZ. This might be a indiion of a powerful trend, and would invalidate the 1:1 PRZ.
    Has to be careful, because it can also pause before the PRZ and simply compress.


    As could be seen in the diagram, it paused before the 1:1 prz and shaped a harmonic impulse that broke through the PRZ. Fixing this as a compression would've resulted in a break .



    Issue 3: Where if impulse legs be counter tops, whenever there are all those nearby lows?
    On the most significant low shaped before it created a new substantial high.

    Issue 4: How do I tell which larger harmonics are in play, and which harmonics are too insignificant to play
    Use the large swings of the primary and dominant swings.

    Issue 5: How do I tell when younger harmonics will be answered also?
    When they align with larger harmonics, including extensions of larger swings (not just retracements).

    For instance, this didnt work, even though the bigger harmonics adapting with the 50% retracement of the dominant leg. There were other larger impulses on the primary and dominant leg which should've been used for extensions.



    Issue 6: How do I tell when 1:1 impulse legs will probably be squashed
    When it pauses prior to the prz, even though needs to be cautious because it can also be going to pierce the prz. Will need to look into this again.

    Question 7: When can a leg be eligible as a 1:1 impulse leg?
    If it pulls back to the 38.2% retracement at the minimum. Ones that dont cant still be used for confluence though.

  4. #4
    1/28/2013

    Trades
    I entered in the 127 extension, however I did not use the main swing to loe confluence (kind of nested in the last major swing, however, this main swing almost reached the very top of the previous main swing). However, it worked out ! 10 pip sl, blessed me.


    This prz had more confluence concerning overlapping fib retracements, and of course a trendline along with the 161 extension. Lesson learned: it doesnt have to visit the 127 extension, even if it is a comparatively big local swing, especially when its quite modest non locally. ALso small harmonics leading into it doesnt make it awesome, because they can readily be extended by bigger harmonics.

    MOST IMPORTANTLY! There wasn't any price action, and it was kind of a steep dive (and I look for price action on steep dives). I dont know how to classify steep dives, because at times it can just bounce off a move up and then you'd be let down.



    PRZs
    Apart from the one over, the przs I considered are below. Mr pip awakened 90 or so pips, so clearly I missed alot, oh well. I also deleted some others while I was doing things, but these are the main ones I believe.

    PRZ1 was the completion of an abcd of a large swing. I thought this swing could atleast create a compression to happen (see prz2), but rather it formed a semi blossom and obeyed the smaller abcd *sigh* (see prz3). Im thinking to hard. Also, it was technically a compression, however, thought it would visit the prz2 compression.


    This was the compression of the main swing, it'd that 127.2 extension thats always* obeyed (rolls eyes) and furthermore it had some smaller harmonics leading into it (before it went of course). Its pretty much exactly the same prz as PRZ1.



    Ultimately, this is prz3. The end of an abcd, though I believe I brought the prz incorrect. I didn't exchange it because I thought it would go into the higher prz.
    There was also a semi automatic butterfly that formed (semi because its not according to mr pips rules), but it did appear on the zup indior on m15.



  5. #5
    1/23/2013

    Summary:

    Trades: 1
    Trades Won: 0
    Trades Lost: 1
    Net reduction: -0.1percent
    Trading Time: 9:30 - 10:30 CST

    Synopsis
    When you have really big drops, then you need to wait for it to atleast stall a little before entering. Also, you need to use bigger swings to define the prz for bigger drops. But you have to be careful to use the appropriate swing length to define it. I would love to observe how the swing length I used was legitimate (i.e. it worked anyways) while another one didn't).

  6. #6
    1/21/2012

    Summary
    Pips Obtained: 0
    Web Profit: -0.1%
    Trades: 1
    Trading Time: 10:30 - 11:30 CST

    Synopsis
    Thus fruing! I place my sl to 1 pip because I was considering the sl degree of a previous trade that didn't execute. Arg! And such a gorgeous RR ratio on that massive butterfly and gartley mix! And I missed all the other trades because I hesitated to pull the trigger.

  7. #7
    1/21/2012 Charts



    This was an aggressive ABCD that I missed. Notice that the ABCD sell did not activate because price has to close in the prz, or near near the prz and show a rejection candle. (this isnt a principle yet, but I might make it). This transaction (I did not show sl/tp) wouldve worked out well.



    A large gartley, nested small butterfly pattern. Would've worked out fine if I traded the large gartley or small butterfly, and wow, I set the sl to 1 pip by injury. oh well. next one.



    An aggressive ABC market, hesitated and did not pull the trigger. Would have worked. The ABCD went right into the 61.8% carry profit level of the gartley. The ABCD buy would have led to a small loss. I wonder if the ABCD order should have been invalidated since it stalled between the c and point alot. hmmm.... Possible rule later on, idk. On the flip side, the large gartley also stalled, but it was big and was expected to stall.

  8. #8
    1/22/2013

    Summary:
    Pips gained: -21
    Net Gain: -2.2%
    Trades: 5
    Winning Trades: 1
    Losing Trades: 4
    Trading Period: 10:30 - 11:30 CST

    Synopsis:
    Not Many PRZs are Legitimate! And I missed a few, of course the ones that were profitable

  9. #9
    1/22/2013

    Trades

    Smaller harmonic entering 61.8% zone. Buy. Loss. The intriguing thing is that although there was a more compact ab= cd entering the 61.8 zone, there was a bigger abcd heading down under that zone.



    a lot of fib extensions converging, plus the counter urge. It Worked. but! I did the tp wrong, it should've been the 161.8 extension of the fall. Since it was contrary to orderflow, I moved to breakeven after it hit the bottom it broke. Also it worked out!



    K, dont remark. I saw the price . And I was like, I want a prz to describe that I can buy since it looks like its in favorable orderflow (broke that low on the other trade! @). So I took a fib retracement, discovered it was 38.2 (that level should've been resistance, cant use retracements downward for support). And then I took a fib retracement another way, and guess what, discovered it was at 61.8! Has to be a prz second


    K, I needed a prz to go up. So I took a fib extension and retracement, found two przs. Perhaps a warning that it wouldn't work was the two pubs that had legs in opposite direction when it met the prz. I don't understand, did I define that this prz right?


    K, final trade.
    ABCD, but it wasnt from a major swing. I believe that when the market is slowing down these kinds of'abcd' will show all the time, so its not worthwhile.


    PRZs

    This prz was not reached. And, if I was careful, I would have seen a prz it was stalling at under. When do this prz be invalidated?

    It under during this prz, actually it stalled right above it. It was a potential gartley.

  10. #10
    1/22/2013

    And my favorite part. Worked.



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