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Sonic R. System

  • #3,721
  • Jul 14, 2009 10:12am Jul 14, 2009 10:12am
Me short the GU @ 1.6269 too
SL 1.6319
First TP +40, second TP +100

I am an entire rookie, still struggling in my demo account.

Say hello to all sonikers, take my hat off to Mr. Sonic. Thanks for the sharing.

Quoting ddaytrader
Hi Sonikers,

I am short the GU @ 1.6271

First TP is +40, second TP is +100

We shall see. I prefer the EJ, but today's wide range made it a real difficult R/R for me, so I looked the GU.

Good Luck!
Be a friend, My skype id: helloworldsh
  • #3,722
  • Jul 14, 2009 10:22am Jul 14, 2009 10:22am
Quoting ddaytrader
Hi Sonikers,

I am short the GU @ 1.6271

First TP is +40, second TP is +100

We shall see. I prefer the EJ, but today's wide range made it a real difficult R/R for me, so I looked the GU.

Good Luck!

i went in similar to urs. follow wad is suppose to be a setup. be it win or lose. is part of trading. No emotion involved
trade safe
  • #3,723
  • Jul 14, 2009 10:24am Jul 14, 2009 10:24am
Quoting ddaytrader
Basber attached it to Post #3349 on page 224 of this thread
many thanks, "DD"
  • #3,724
  • Jul 14, 2009 10:53am Jul 14, 2009 10:53am
Here is my entry for the Ej. All comments are appreciated.

Kind Regards
Lmarti21
Attached Image (click to enlarge)
Click to Enlarge Name: ej trade -.gif Size: 46 KB
  • #3,725
  • Jul 14, 2009 11:20am Jul 14, 2009 11:20am
Quoting lmarti21
Here is my entry for the Ej. All comments are appreciated.

Kind Regards
Lmarti21
Everything was certainly lined up for a short on the EJ just as you traded it. I typically stand down and look elsewhere when a SonicR entry point is below(for short) or above (for long) a very large range bar (in your case the bar that formed the L of the L-LH-LL was nearly 60 pips.

I had considered a short entry on the EJ closer to the 129.93-130.00 range, same stop loss, more or less as you. I know Sonic will sometimes take that sort of entry. But, I really do prefer to wait for the lower low. Since the risk was so huge (85-90 pips??!!) because of that range bar, I chose to pass.

But, you did identify a legitimate SonicR: L-LH-LL, CCI below zero line, QQE trending down and below 50, and a whole lot of volume activity making it seem as though a big move was coming. It still might be, but a big move had already occurred.

Good Luck!
  • #3,726
  • Jul 14, 2009 11:22am Jul 14, 2009 11:22am
Quoting lmarti21
Here is my entry for the Ej. All comments are appreciated.

Kind Regards
Lmarti21
Still Choppy Market. Price Is Clearly Consolidating. I Personally Don't Suggest Any Entries Today.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #3,727
  • Jul 14, 2009 11:24am Jul 14, 2009 11:24am
Quoting ddaytrader
Basber attached it to Post #3349 on page 224 of this thread
Thanks DD,
Imarti, Go To Indicator List, Choose The Indicator And Select Edit, In Edit Window, You Can Change Pivot To Calculate Daily/Weekly/Monthly. I Think It's Obvious. Mine Is Set To Monthly. If There Was Any Problem, I'll Be Glad To Help.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #3,728
  • Jul 14, 2009 11:33am Jul 14, 2009 11:33am
Quoting ddaytrader
Everything was certainly lined up for a short on the EJ just as you traded it. I typically stand down and look elsewhere when a SonicR entry point is below(for short) or above (for long) a very large range bar (in your case the bar that formed the L of the L-LH-LL was nearly 60 pips.

I had considered a short entry on the EJ closer to the 129.93-130.00 range, same stop loss, more or less as you. I know Sonic will sometimes take that sort of entry. But, I really do prefer to wait for the lower low. Since the risk was so huge (85-90 pips??!!) because...
Look At The Shape Of The Candles ... Beside Wave Formation, You (I Don't Mean You DD, I'm Just Reviewing My Mind ) Should Have "The Feeling" Beside Your Logic Analyze That Tell You To Enter The Trade ... I Don't Have That Feeling Today. Don't Push Yourselfs To Take A Trade. Anyway, I'm Just Telling My Opinion, Nothing More.
Just Look How Beautiful MS2 In Monthly Fibonacci Pivot, Rejects The Price ... I Love It

P.S. There Was a Double Bottom Formed On H1 TF ... Careful About That.

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: ej p m15.gif Size: 25 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #3,729
  • Edited 12:54pm Jul 14, 2009 12:50pm | Edited 12:54pm
Quoting ddaytrader
Hi Sonikers,

I am short the GU @ 1.6271

First TP is +40, second TP is +100

We shall see. I prefer the EJ, but today's wide range made it a real difficult R/R for me, so I looked the GU.

Good Luck!
Quoting Basber
Still Choppy Market. Price Is Clearly Consolidating. I Personally Don't Suggest Any Entries Today.

Regards,
Basber
Well, as it has been said, if you don't bet, you can't win, but if you lose all your chips, you can't bet.

Choppy is right, Basber. I do not know if the GU will decline into my target(s) or not, but if it does, it will have to do so without me. I closed it for +2, after watching it rally to within a hanful of pips of my stop loss.

Looks like GU has good support here, and potential double bottom basing action. If so, then the stop loss on this aborted short would be a long EP.
I usually do not take new entries this late in the session, and would prefer to wait for Tokyo open +/- 60 minutes.

For all those still in this short, good luck!

Good Luck to all,

ddaytrader
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU 7-14-2009 Enter.jpg Size: 82 KB
Click to Enlarge Name: GU 7-14-2009 Exit.jpg Size: 86 KB
  • #3,730
  • Jul 14, 2009 1:14pm Jul 14, 2009 1:14pm
Quoting ddaytrader
I do not know if the GU will decline into my target(s) or not, but if it does, it will have to do so without me. I closed it for +2, after watching it rally to within a hanful of pips of my stop loss...
For all those still in this short, good luck!

Sometimes, my timing is impeccable lol
Attached Image (click to enlarge)
Click to Enlarge Name: GU 7-14-2009 Doh.jpg Size: 86 KB
  • #3,731
  • Jul 14, 2009 3:13pm Jul 14, 2009 3:13pm
Quoting ddaytrader
Sometimes, my timing is impeccable lol
I'm Sure It Is
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 41 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #3,732
  • Jul 14, 2009 3:26pm Jul 14, 2009 3:26pm
Quoting ddaytrader
Everything was certainly lined up for a short on the EJ just as you traded it....
"DD",
Thanks for the comment you have made a very valid point. In future i will definately take this into consideration.

kind Regards
Lmarti21
  • #3,733
  • Jul 14, 2009 3:30pm Jul 14, 2009 3:30pm
Quoting Basber
Still Choppy Market. Price Is Clearly Consolidating. I Personally Don't Suggest Any Entries Today.

Regards,
Basber
Thanks Basber ,

Lmarti21
  • #3,734
  • Jul 14, 2009 3:34pm Jul 14, 2009 3:34pm
Quoting Basber
Thanks DD,
Imarti, Go To Indicator List, Choose The Indicator And Select Edit, In Edit Window, You Can Change Pivot To Calculate Daily/Weekly/Monthly. I Think It's Obvious. Mine Is Set To Monthly. If There Was Any Problem, I'll Be Glad To Help.

Regards,
Basber
Thanks
  • #3,735
  • Jul 14, 2009 4:37pm Jul 14, 2009 4:37pm
Quoting Basber
I'm Sure It Is
Well, GU never even made it to my first TP a mere 40 points away from my EP. Even though I bailed on the trade, it would have been nice to see the first TP achieved. As it was, the GU was basing for another stab at the ealrier HOD.

Again, note that it was a well place stop loss that allowed the trade to outlive the first rally and let me out at basically BE (+2).
Attached Image (click to enlarge)
Click to Enlarge Name: GU 7-14-2009 OK.jpg Size: 90 KB
  • #3,736
  • Edited 10:23pm Jul 14, 2009 5:03pm | Edited 10:23pm
EU: If it were not for this being just as the Asian session begins, which Sonic recommends against trading in, I would say we could be facing some good upside on this pair. The M15 has PA back above tradeband and leveled off, so some sideways time here is just fine for consolidation. The 1.3983 area is both the Daily mR1 as well as the Weekly mS1, so it could be strong resistance to crack. It PA does, however, it could also become strong support.....and off to new heights it could go! The H4 chart shows the last closed candle to be a very nice Hammer, which can denote a reversal with confirmation....and the current H4 candle is positive so far.

Edit: If PA is going up over the upcoming sessions, I would expect the asian session to first give us a pullback. There is no reason for them not to drop it 20 -30 pips, or so, for better entry on long positions. In that light, maybe PA pulls back to the half number (1.3950) or to mS1 = 1.3944 area. There is also the Weekly support WS1 = 1.3931 area, which they might target for a pullback. Just a thought.

Edit (5+ hours later): After the first two hours in a 10 pip range, PA was driven up to extend the range another 10 pips (now 1.3965 - 1.3985) with PA spending most of time at top of range. On a M30 chart, all this takes on the look of a Bear Channel and has created Bearish divergence on the M15. So, now I am thinking there is an increasing chance of the PA diving to 1.3885 area (mS3=1.3880), and possibly to the 1.3815 area where there is Weekly support (WmS3=1.3815). Time will tell.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot # 439.gif Size: 39 KB
Click to Enlarge Name: screenshot # 440.gif Size: 32 KB
  • #3,737
  • Jul 15, 2009 12:11am Jul 15, 2009 12:11am
Quoting ddaytrader
Well, GU never even made it to my first TP a mere 40 points away from my EP. Even though I bailed on the trade, it would have been nice to see the first TP achieved. As it was, the GU was basing for another stab at the ealrier HOD.

Again, note that it was a well place stop loss that allowed the trade to outlive the first rally and let me out at basically BE (+2).

well, i cls my g/u as well on s/L at BE. the thing tat make me grumble is tat the PA is only one pip Away to hit my tp1 B4 IT RETRACE BACK...

damn broker. S/L hunting and Tp keeping!
trade safe
  • #3,738
  • Jul 15, 2009 12:56am Jul 15, 2009 12:56am
Quoting sonicdeejay
We have quite a big overhead resistance to clear....130.5x seem to big resistance in higher TF..(see above blu rectangle)
We need a large/big vol (Black Bars) to push it up....wait for the vol..
For now 129.7x seem a nice support..
It is possible only in UK or US session...

http://www.forexfactory.com/attachme...2&d=1247548046

Sonic
Hello...131.xx

Sonic
Attached Image (click to enlarge)
Click to Enlarge Name: shi2.gif Size: 26 KB
  • #3,739
  • Jul 15, 2009 1:09am Jul 15, 2009 1:09am
Hi guys .. what currency pair do u guys usually play ?
  • #3,740
  • Jul 15, 2009 1:20am Jul 15, 2009 1:20am
here is my today setup ......g/u and /j break the resistenc area....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 15 july ej buy.gif Size: 44 KB
Click to Enlarge Name: 15 july gu buy.gif Size: 40 KB
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