Potential Setups

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RicG
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Postby RicG » Fri Nov 08, 2013 3:42 pm

ES triggered this morning. Target 1 hit. Profit taken so far, plus 9.25 points. Moved stops on remaining contracts up to 46.00 (midpoint between Entry and Target 1).

Image

RicG wrote:Two new potential setups - ES and YM:

(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)


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Image
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Fri Nov 08, 2013 5:03 pm

Took 2nd contract off at 58.00 (blue line), due to time of day. Normally see a pullback of trend around mid-day. Profit booked on 2nd contract is plus 16.25 points. Moved stop on remaining 2 contracts to Target 1.

Image


RicG wrote:ES triggered this morning. Target 1 hit. Profit taken so far, plus 9.25 points. Moved stops on remaining contracts up to 46.00 (midpoint between Entry and Target 1).

Image

RicG wrote:Two new potential setups - ES and YM:

(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)


Image



Image
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Fri Nov 08, 2013 5:45 pm

Took 3rd contract off at Target 2 (60.00). That's a profit of plus 18.25 points on that position. Still holding a final contract, with stop loss at Target 1 (51.00).

Will exit the 4th contract by end of day. Don't know how much more upside this puppy has in it. ES has already exceeded its 7-day ATR by over 6 points. But the Euro rate change and the U.S. employment report is driving price action. Could still go higher. We'll see.


Image


RicG wrote:Took 2nd contract off at 58.00 (blue line), due to time of day. Normally see a pullback of trend around mid-day. Profit booked on 2nd contract is plus 16.25 points. Moved stop on remaining 2 contracts to Target 1.

Image


RicG wrote:ES triggered this morning. Target 1 hit. Profit taken so far, plus 9.25 points. Moved stops on remaining contracts up to 46.00 (midpoint between Entry and Target 1).

Image

RicG wrote:Two new potential setups - ES and YM:

(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)


Image



Image
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Fri Nov 08, 2013 7:09 pm

Moved stop on last contract up to 56.00 - just below the mid-point of the last power candle.

RicG wrote:Took 3rd contract off at Target 2 (60.00). That's a profit of plus 18.25 points on that position. Still holding a final contract, with stop loss at Target 1 (51.00).

Will exit the 4th contract by end of day. Don't know how much more upside this puppy has in it. ES has already exceeded its 7-day ATR by over 6 points. But the Euro rate change and the U.S. employment report is driving price action. Could still go higher. We'll see.


Image


RicG wrote:Took 2nd contract off at 58.00 (blue line), due to time of day. Normally see a pullback of trend around mid-day. Profit booked on 2nd contract is plus 16.25 points. Moved stop on remaining 2 contracts to Target 1.

Image


RicG wrote:ES triggered this morning. Target 1 hit. Profit taken so far, plus 9.25 points. Moved stops on remaining contracts up to 46.00 (midpoint between Entry and Target 1).

Image

RicG wrote:Two new potential setups - ES and YM:

(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)


Image



Image
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Fri Nov 08, 2013 8:36 pm

Getting late in the trading day/week, so took 4th contract off at 60.00.

Trade Summary:

Contract 1, plus 9.25 points
Contract 2, plus 16.25 points
Contract 3, plus 18.25 points
Contract 4, plus 18.25 points

Total: plus 62.00 points

Everyone have a great weekend,

Ric

Image

RicG wrote:Moved stop on last contract up to 56.00 - just below the mid-point of the last power candle.

RicG wrote:Took 3rd contract off at Target 2 (60.00). That's a profit of plus 18.25 points on that position. Still holding a final contract, with stop loss at Target 1 (51.00).

Will exit the 4th contract by end of day. Don't know how much more upside this puppy has in it. ES has already exceeded its 7-day ATR by over 6 points. But the Euro rate change and the U.S. employment report is driving price action. Could still go higher. We'll see.


Image


RicG wrote:Took 2nd contract off at 58.00 (blue line), due to time of day. Normally see a pullback of trend around mid-day. Profit booked on 2nd contract is plus 16.25 points. Moved stop on remaining 2 contracts to Target 1.

Image


RicG wrote:ES triggered this morning. Target 1 hit. Profit taken so far, plus 9.25 points. Moved stops on remaining contracts up to 46.00 (midpoint between Entry and Target 1).

Image

RicG wrote:Two new potential setups - ES and YM:

(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)


Image



Image
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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dchappy
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Postby dchappy » Mon Dec 23, 2013 12:17 am

I miss your charts ...

PTG and yourself were slowly changing my mind about price forcasting..... :) :)

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RicG
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Postby RicG » Mon Dec 23, 2013 3:36 am

dchappy wrote:I miss your charts ...

PTG and yourself were slowly changing my mind about price forcasting..... :) :)
Hey dchappy,

Thanks for your kind words.

I originally started posting these setups in hopes that there might be other harmonic traders that would become involved on this thread.
However, there didn't seem to be much interest.

I've been studying/trading harmonic patterns intensively now for about 8-9 months, and have found them to be one of the best tools I've discovered during my many years at this pursuit. Great win/loss %, with a great risk/reward ratio. And the patterns, after triggering, give specific price targets - no guessing where to take profits.

Anyway, thanks again for your interest. I've always enjoyed your posts as well.

All the best,

Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Thu Mar 06, 2014 9:35 pm

Hi traders,

Haven't posted any harmonic pattern trades in a while due to time restrictions, but thought I'd post one today that occurred on CL since it looked like it came out of a textbook. Don't know why, but they rarely setup on CL.

If you're struggling with other strategies, I urge you to look into learning harmonic patterns. Best thing I've found - great Win % and Risk/Reward Ratio. Takes a bit of effort to learn, but it's not brain surgery either. All are based on multiple fib levels and extensions occurring in specific sequences.

Once you've got'em down they're pretty easy to spot and trade. Also, once triggered, the profit targets and stop losses are setup by the pattern levels.

Anyway here's today's trade:

Image

Gonna watch this tonight and will probably close out the remaining two contracts tonight before I go to bed, but we'll see. The Ukraine-Russia situation has really added some nice volatility to CL.



Good trading to all,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Fri Mar 07, 2014 2:17 am

Trade Update -----

Getting late and price stalled, so I closed out the two remaining contracts at 101.70. Just don't like holding overnight. Trade netted a total of 600 ticks.

Great trading to all,
Ric



RicG wrote:Hi traders,

Haven't posted any harmonic pattern trades in a while due to time restrictions, but thought I'd post one today that occurred on CL since it looked like it came out of a textbook. Don't know why, but they rarely setup on CL.

If you're struggling with other strategies, I urge you to look into learning harmonic patterns. Best thing I've found - great Win % and Risk/Reward Ratio. Takes a bit of effort to learn, but it's not brain surgery either. All are based on multiple fib levels and extensions occurring in specific sequences.

Once you've got'em down they're pretty easy to spot and trade. Also, once triggered, the profit targets and stop losses are setup by the pattern levels.

Anyway here's today's trade:

Image

Gonna watch this tonight and will probably close out the remaining two contracts tonight before I go to bed, but we'll see. The Ukraine-Russia situation has really added some nice volatility to CL.



Good trading to all,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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