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Sonic R. System

  • #2,461
  • Apr 11, 2009 5:18am Apr 11, 2009 5:18am
Looking totally bearish if 1.302x is broken again....

Sonic
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  • #2,462
  • Apr 11, 2009 11:18pm Apr 11, 2009 11:18pm
Quoting sonicdeejay
Looking totally bearish if 1.302x is broken again....

Sonic
Sonic, I am happy you posted that. Here is what I have been looking at, and the "target" area lines up nicely with area that is important because it acted as both support and resistance previously.....
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  • #2,463
  • Apr 12, 2009 3:19am Apr 12, 2009 3:19am
Definition of H&S:
http://stockcharts.com/school/doku.p...nd_shoulders_t

Look for the first criteria : Prior TREND

There is no prior trend for the EU to make it as a valid H&S.

Juz my small opinion,
MPH
  • #2,464
  • Apr 12, 2009 4:32pm Apr 12, 2009 4:32pm
Quoting mphpopular
Definition of H&S:
http://stockcharts.com/school/doku.p...nd_shoulders_t

Look for the first criteria : Prior TREND

There is no prior trend for the EU to make it as a valid H&S.

Juz my small opinion,
MPH
No, your opinion counts. There are probably many who would look at that chart and say because the supposed H&S does not come after an incline, but is positioned instead after a decline, that it is invalid. However, I believe that trader psychology that creates such patterns is not so restricted.
  • #2,465
  • Apr 12, 2009 11:08pm Apr 12, 2009 11:08pm
Thick Thick vol...comin in..
UK session shall be interesting...

Sonic
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  • #2,466
  • Apr 13, 2009 1:12am Apr 13, 2009 1:12am
Quoting sonicdeejay
Thick Thick vol...comin in..
UK session shall be interesting...

Sonic

Looks like support is strong and tide is turning
  • #2,467
  • Apr 13, 2009 2:15am Apr 13, 2009 2:15am
Quoting lingluvbos
Looks like support is strong and tide is turning
jus open a trade...when things met...and the rest is let Mr Mkt decide...
I hav curious Long...and SL @ BE now....

Sonic
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  • #2,468
  • Edited 4:51am Apr 13, 2009 4:38am | Edited 4:51am
Got a nice system here. Been reading since morning around the 100th page mark. I like PA and wave analysis and indicators may be to just confirm trade is nice. The EMA does seem powerful. Sonic that's a nice find and thanks for sharing.

Hope to do some demo trades tomorrow. I am planning to trade the first 3 hours of london session? I realy don't have a choice here because of my daytime job. Is it the time everyone's trade here? Is the chatroom active?

Not to sound bad but i haven't seen any wrong trades posted (except eternal but he didn't follow the rules). Is it that people don't the lost trades?
  • #2,469
  • Apr 13, 2009 6:52am Apr 13, 2009 6:52am
Quoting AndsX
Got a nice system here. Been reading since morning around the 100th page mark. I like PA and wave analysis and indicators may be to just confirm trade is nice. The EMA does seem powerful. Sonic that's a nice find and thanks for sharing.

Hope to do some demo trades tomorrow. I am planning to trade the first 3 hours of london session? I realy don't have a choice here because of my daytime job. Is it the time everyone's trade here? Is the chatroom active?

Not to sound bad but i haven't seen any wrong trades posted (except eternal but he didn't...
If anyone ever tells you they do not lose with this system, they are pulling your leg. There is NO HOLY GRAIL.

The system does not have to be traded only during the London session, its just where the volatility occurs as soon as the market opens. I have traded this during all sessions, just that you have to be patient with the move. If you ever look back in the past on your charts with any session, you will see that there are also big moves during the non-London sessions, just be patient [trading with the trend will help also].
  • #2,470
  • Apr 13, 2009 8:26am Apr 13, 2009 8:26am
Quoting sonicdeejay
jus open a trade...when things met...and the rest is let Mr Mkt decide...
I hav curious Long...and SL @ BE now....

Sonic

http://www.forexfactory.com/attachme...1&d=1239606923
Well...Mr Market has spoken....
I am on free ride...

Sonic
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  • #2,471
  • Apr 13, 2009 11:22am Apr 13, 2009 11:22am
Quoting sonicdeejay
Well...Mr Market has spoken....
I am on free ride...

Sonic
You made a fantastically good entry, Sonic!

Another matter....your shown pivots are very confusing, being so different between your two charts....first you have R1 at 1.3274, then you show R3 at 1.3257....??????
  • #2,472
  • Apr 13, 2009 3:30pm Apr 13, 2009 3:30pm
EU M15 Chart: After this incredible PUMP on a HALF VOLUME day, what will be next?

EU Daily Chart: To me, this still looks bearish, even more so with this half volume pump up to resistance.
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  • #2,473
  • Edited 7:29pm Apr 13, 2009 7:04pm | Edited 7:29pm
Quoting traderathome
EU M15 Chart: After this incredible PUMP on a HALF VOLUME day, what will be next?

EU Daily Chart: To me, this still looks bearish, even more so with this half volume pump up to resistance.
Edit: The M15 chart is sporting a gunuine H & S (for real this time) and a Bollinger band squeeze. Unless I miss my guess, the true PA break out of this squeeze will be downwards. I am going to be monitoring this one. The pattern is not tall enough on this M15 chart to give much of a run, but enough maybe to start us off in a new trend down.

Edit: Add third chart (M15) showing PA downward break out of BB pinch, and the general movement on high relative volume (see blue rectangle in volume window).
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  • #2,474
  • Apr 13, 2009 9:32pm Apr 13, 2009 9:32pm
Quoting traderathome
You made a fantastically good entry, Sonic!

Another matter....your shown pivots are very confusing, being so different between your two charts....first you have R1 at 1.3274, then you show R3 at 1.3257....??????
I think Pivot indicator has Sunday data ignore..turned ON>....

Sonic
  • #2,475
  • Apr 13, 2009 11:52pm Apr 13, 2009 11:52pm
Quoting traderathome
Edit: The M15 chart is sporting a gunuine H & S (for real this time) and a Bollinger band squeeze. Unless I miss my guess, the true PA break out of this squeeze will be downwards. I am going to be monitoring this one. The pattern is not tall enough on this M15 chart to give much of a run, but enough maybe to start us off in a new trend down.

Edit: Add third chart (M15) showing PA downward break out of BB pinch, and the general movement on high relative volume (see blue rectangle in volume window).
We are on the same page (H&S for EU)
  • #2,476
  • Apr 14, 2009 4:46am Apr 14, 2009 4:46am
EU M15 Chart: By now, the run down value of that H&S has already been used up. It gave the PA a start down on high relative volume, but then the PA was "worked" right back up to the starting area again! However, and this is a clue, then the price dove sharply once more on high relative volume. The highest volumes have been associated with selling, which gives us the clue to this all. The big boys are going on the short side, and when they load up it drives the price down. Then they give the PA a breather, working it back up on as light volume as they can to a higher price area where they will once again load up on the short side.....driving the price down hard again. If this is the case, the M15 chart is way too small a TF to see where they intend this to end up! Just rambling......but I am thinking the 1.2500 - 1.2700 area is their target.
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  • #2,477
  • Edited 5:32am Apr 14, 2009 5:18am | Edited 5:32am
EU M5 Chart: For now, to me it seems 1.3200 is a likely target. This "zoomed out" M5 chart shows the now familiar H&S which got us turned around and heading south. The top most black S&R line is now resistance again after much battling around it. We have a Bollinger pinch and the PA break out should be down. The two lower black S&R lines are important in that they have both acted in the recent past as both support and as resistance. They bracket the Daily support S1 = 1.3200, which is why I am feeling this is the area the PA is headed to, and where it will go into more sideways consolidation prior to another move down. Just my hypothesis.
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  • #2,478
  • Apr 14, 2009 8:00am Apr 14, 2009 8:00am
EJ biased short with H1 -ve divergence.
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  • #2,479
  • Apr 14, 2009 8:14am Apr 14, 2009 8:14am
Quoting mphpopular
EJ biased short with H1 -ve divergence.
I like the clean chart...

Sonic
  • #2,480
  • Apr 14, 2009 8:18am Apr 14, 2009 8:18am
AU still in trade.

EDIT: Didn't manage to adjust SL to breakeven or take some profit juz now due to I was away from keyboard.
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