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Sonic R. System

  • #4,041
  • Jul 22, 2009 10:09am Jul 22, 2009 10:09am
Quoting ddaytrader
EJ long just snuck up on me and triggered. I entered my entry price wrong (I entered 133.99 instead of 132.99 and so I obviously did not get filled).

Chart to follow - I'm trying to see if we get a pullback for me to enter on.
Here it is - the EJ long that got away all because I was clumsy and careless and entered my entry order incorrectly.

EP: 132.99
SL: 132.58 (-41)
TP1 133.55 (+56)
TP2: 133.82 (+83)
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 7-22-2009 SonicR the One that Got Away1.jpg Size: 188 KB
  • #4,042
  • Jul 22, 2009 10:21am Jul 22, 2009 10:21am
apart from keying wrong no. of lots to trade. Pa muz rem to key correct and double check before enter!

my Usd/cad trade. aleast tis pair trending
Attached Image (click to enlarge)
Click to Enlarge Name: uc.jpg Size: 154 KB
trade safe
  • #4,043
  • Jul 22, 2009 12:39pm Jul 22, 2009 12:39pm
Quoting ddaytrader
Here it is - the EJ long that got away all because I was clumsy and careless and entered my entry order incorrectly.

EP: 132.99
SL: 132.58 (-41)
TP1 133.55 (+56)
TP2: 133.82 (+83)
TP1 achieved. The price of my carelessness is at least a 56 pip profit, as 56 pips would now be in the bank and the SL on the second half would be at BE.

I am not one to when price runs big without me so long as I did not get a good SonicR. But this really has me disappointed. I saw the set up, I placed the order. Price rose through my entry point. But I did not get filled because I was careless and entered the wrong entry price.

Looks like I need another post-it note: "Double check your orders"
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 7-22-2009 The one that got away1.jpg Size: 175 KB
  • #4,044
  • Jul 22, 2009 2:56pm Jul 22, 2009 2:56pm
Quoting ddaytrader
TP1 achieved. The price of my carelessness is at least a 56 pip profit, as 56 pips would now be in the bank and the SL on the second half would be at BE.

I am not one to when price runs big without me so long as I did not get a good SonicR. But this really has me disappointed. I saw the set up, I placed the order. Price rose through my entry point. But I did not get filled because I was careless and entered the wrong entry price.

Looks like I need another post-it note: "Double check your orders"
looking good took trads .....1 question for u that u mentioned your 2 tps wat does it mean that u open 2 order at same price and set 2 tps....one hit and 2nd BE .......
thnx
gdnigh
FxHome
  • #4,045
  • Jul 22, 2009 3:14pm Jul 22, 2009 3:14pm
Quoting Muhammad989
looking good took trads .....1 question for u that u mentioned your 2 tps wat does it mean that u open 2 order at same price and set 2 tps....one hit and 2nd BE .......
thnx
gdnigh

I open one trade. My entry order has a stop loss attached to it and a take profit attached. The Take Profit is at my TP2 target. Once the order is triggered and the position is open, I then manually set a take profit order for 1/2 the position at the TP1 target. My account has no hedging, so when the TP1 is reached, 1/2 of the position closes, and my TP2 order is reduced in size to the remaining position.

Not all brokers may work the same. I am with FXCM and that is how it works with them, at least until the end of this month when it all gets screwed up ... but that is a story for another thread.
  • #4,046
  • Jul 22, 2009 4:36pm Jul 22, 2009 4:36pm
Good Evening, Sonikers!

First off, a reminder: Sonic does not recommend trading the Asia session, and in fact, he advises against it.

That being said, I do trade during Asia. I keep stops tighter and trail stops closer than during Europe and USA, but I do trade it.

Here is a potenital short on the EJ.

EP: 132.81
SL: 133.16 (-35)
TP1: 132.41 (+40)
TP2: 131.81 (+100)

This trade may not trigger, and then again, the EJ could swing to a long situation. Right now, at 17:34 NYC time, this is how the EJ looks to me.

Good Luck, Sonikers!
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 7-22-2009 Early Asia Short1.jpg Size: 140 KB
  • #4,047
  • Jul 22, 2009 6:50pm Jul 22, 2009 6:50pm
Quoting sonicdeejay
DD..Basber .and Rasta,,,

Go see this thread...post 4009...
Can give me the answer??

Sonic
Hmm ... I Said My Opinion About This One Sonic. It's Similar With DDs.
Post # 3703 (Page 247) :

Quoting Basber
It's Possible To Take The Top And The Bottom Of The Trend.

Regards,
Basber
Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #4,048
  • Edited 10:08pm Jul 22, 2009 7:00pm | Edited 10:08pm
Quoting sonicdeejay
DD..Basber .and Rasta,,,

Go see this thread...post 4009...
Can give me the answer??

Sonic

As DD said, on the M15 chart I suppose we are seeing the support and resistance in PA in the form of HL & HH rather seeing only the hammer or pin bar in the D1.

Stepladders

This worker's step ladder is on uneven ground and it's too short for the job. Combine that with the heavy bucket and they could be heading for a nasty fall.
Top Tips for using Stepladders:

 

  1. Make sure all of the feet are in contact with the ground.
  2. Use the right length of stepladder. Don't stand on the top two steps unless there is a handrail.
  3. Try to position the stepladder so the rungs face the job. It's much more stable than working from side on.
  4. Don't carry heavy or awkward loads on a stepladder.
  5. Make sure the stepladder is in good repair.




http://www.hse.gov.uk/falls/images/pic_stepladder.jpg

http://steigerlaw.typepad.com/photos...off_ladder.jpg

Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #4,049
  • Jul 22, 2009 7:21pm Jul 22, 2009 7:21pm
Quoting ddaytrader
Good Evening, Sonikers!

First off, a reminder: Sonic does not recommend trading the Asia session, and in fact, he advises against it.

That being said, I do trade during Asia. I keep stops tighter and trail stops closer than during Europe and USA, but I do trade it.

Here is a potenital short on the EJ.

EP: 132.81
SL: 133.16 (-35)
TP1: 132.41 (+40)
TP2: 131.81 (+100)

This trade may not trigger, and then again, the EJ could swing to a long situation. Right now, at 17:34 NYC time, this is how the EJ looks to me.

Good Luck, Sonikers!
This is looking less and less like a short, and quite possibly a long.

I am not liking PA here on this pair, and I am now standing aside, and will wait for a better opportunity.

Good Luck, Sonikers!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EJ 7-22-2009 Early Asia Short3.jpg Size: 186 KB
Click to Enlarge Name: EJ 7-22-2009 Early Asia Long1.jpg Size: 181 KB
  • #4,050
  • Jul 22, 2009 9:49pm Jul 22, 2009 9:49pm
Quoting ddaytrader
This is looking less and less like a short, and quite possibly a long.

I am not liking PA here on this pair, and I am now standing aside, and will wait for a better opportunity.

Good Luck, Sonikers!
A better opportunity indeed! The long trade I stood aside on hit both targets for +40 and +60. This pair could see 134.8x over the coming hours, and a break above there opens it up for a run toward 136.xx-137.00

Some day for me: Two good opportunies and one I missed because I entered the order wrong and the other I miss because I was so sure that the short would trigger that I didn't believe what price as telling me hen it as screaming "double bottom base - Buy! Buy! Buy!"

First trade: TP1 = +56, TP2 = BE Second Trade TP1 +40 TP2 +60, total missed pips +156 ...

thankfully, there will soon be new SonicR set-ups to trade.

Good night, Sonikers, and Good Luck in London!

ddaytrader
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 7-22-2009 Early Asia Long2.jpg Size: 206 KB
  • #4,051
  • Jul 22, 2009 10:12pm Jul 22, 2009 10:12pm
Watching USD/JPY carefully as the H1 looks like we may have a double top forming at the weak stall and reverse.
Attached Image (click to enlarge)
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Starting to see instead of just looking.
  • #4,052
  • Edited 11:03pm Jul 22, 2009 10:32pm | Edited 11:03pm
GBP/USD looking interesting if we look at the H1 chart on the right, we can see that price has tested the trend line 3 times and on the M15 we have a HL & HH. If it breaks the trend line and the candle holds above it, I am in.

M5 looking good if we get an upswing from cci and Chaikin.

Flagging forming on PA.

Flag forming on M15 cci signal for long all we need now is the volume to enter the market.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ep.jpg Size: 217 KB
Click to Enlarge Name: m5.jpg Size: 587 KB
Click to Enlarge Name: m15.jpg Size: 395 KB
Attached Image
Starting to see instead of just looking.
  • #4,053
  • Edited 11:36pm Jul 22, 2009 11:18pm | Edited 11:36pm
Volume support broken but recovered. Still not convinced this LONG is over.

M5 entry starting to form.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Untitled-1.jpg Size: 362 KB
Click to Enlarge Name: m5.jpg Size: 574 KB
Starting to see instead of just looking.
  • #4,054
  • Jul 22, 2009 11:20pm Jul 22, 2009 11:20pm
Quoting Rastaman
Flag forming on M15 cci signal for long all we need now is the volume to enter the market.
err. what is flag ?
  • #4,055
  • Jul 22, 2009 11:23pm Jul 22, 2009 11:23pm
EU: Getting mixed signals still. M15 chart showing HHs & HLs, plus good relative volume at the bottom, starting this sequence. On the other hand, H4 divergence still portends a fall in the price, and the Trix, which is only just above the basis line, looks to be rolling over .....

And then, to go with these signals, there is the dominant variable....that the 'powers' will slam it one way or the next to make some money, regardless of everything else!

I half expect a pump towards yesterdays high before any strong move down. And why not? It would be all the better for those 'powers' to attain a higher perch from whence to short the dickens out of it. They've pumped it up there before, so why not again....what is there to stop them?
Attached Image(s) (click to enlarge)
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  • #4,056
  • Jul 22, 2009 11:39pm Jul 22, 2009 11:39pm
EU Daily: John Bollinger says many times PA 'Head Fakes' out of a Bollinger Band pinch. Then the PA reverses across the pinch and proceeds to make the true move. So, I wonder if this will turn out to be a Double Top, or "M" configuration. Fib extensions applied to the pinch span provide popular targets of 100%, 162%, 262% and 424%......depending upon the strength of the run. The "M" has a depth of about 591 pips, and if PA falls it should double that. That favors the 262% area.

Comments welcomed.
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  • #4,057
  • Jul 22, 2009 11:46pm Jul 22, 2009 11:46pm
Quoting LittleTrader
err. what is flag ?

It is like a flag fluttering in the wind with increasingly smaller candles, till price breaks out of the pattern, one way or the other.
Hence, you can see I have a buy stop order just outside the range of the flag.


http://tbn3.google.com/images?q=tbn:...27878p275w.jpg

http://2.bp.blogspot.com/_tUbg8qVS79.../s400/flag.png

How to find it using theory?
Let's take uptrend: after a big rally the market starts to lose its momentum temporarily allowing sellers to press the price down. Here the market is starting to make lower lows and lower highs , but the overall progress is quite insignificant.
After two lower highs traders may draw a trendline above those highs and draw additional parallel to it trendline below the price action. Two trendlines will form a channel. Visually it will look like a flag on a flagpole.

The theory suggests that the market that was trading up and formed a flag pattern will break out of that pattern in direction of a previous trend, which means upwards.
So traders can place buy orders above the flag pattern.

The profit target is calculated based on the length of the flagpole, which is projected from the break out point. Stop loss is placed below the lower trend line.

That's it. Very effective and easy to trade Flag pattern in Forex.
Attached Image (click to enlarge)
Click to Enlarge Name: flag.jpg Size: 225 KB
Starting to see instead of just looking.
  • #4,058
  • Jul 22, 2009 11:48pm Jul 22, 2009 11:48pm
Quoting Rastaman
It is like a flag fluttering in the wind with increasingly smaller candles, till price breaks out of the pattern, one way or the other.
oho ... i get it ..thanks for the explanation ..
  • #4,059
  • Jul 23, 2009 12:02am Jul 23, 2009 12:02am
Quoting Rastaman
Volume support broken but recovered. Still not convinced this LONG is over.

M5 entry starting to form.
"Volume support broken but recovered." -

Could you please explain what you are referring to by this term "volume support broken but recovered"? I see no reference to volume on any of your posted charts nor any reference to specific price areas.....
  • #4,060
  • Edited 12:27am Jul 23, 2009 12:11am | Edited 12:27am
Quoting traderathome
"Volume support broken but recovered." -

Could you please explain what you are referring to by this term "volume support broken but recovered"? I see no reference to volume on any of your posted charts nor any reference to specific price areas.....
SUre, it is the Chaikin ORANGE indicator line that I have inside Sonic's CCI indicator. I prefer it to the NOV indicator because it is directional. The NOV seems good but is not as intuitive for me as large volumes in downtrends and uptrends both show lines on top of the zero line.

Probably easier to see if I change the background color of the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Chaikin.jpg Size: 514 KB
Starting to see instead of just looking.
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