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Sonic R. System

  • #5,121
  • Aug 18, 2009 9:55am Aug 18, 2009 9:55am
GU moves in favor .. and stopped exactly where i put my TP .. sigh ... shouldnt go out ...
  • #5,122
  • Aug 18, 2009 10:03am Aug 18, 2009 10:03am
yeah sonic now out 140 + TP 2 hit
FxHome
  • #5,123
  • Aug 18, 2009 10:18am Aug 18, 2009 10:18am
Following the initial move up on my lower TF with Macd and CCI turning positive, we had a nice retracement for positioning long. With follow thru of this early upmove, Im looking for a target area of 1.4160ish, with a following target in the 1.4190 area. We'll see what happens.
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  • #5,124
  • Aug 18, 2009 10:25am Aug 18, 2009 10:25am
Glad you are still going strong Sonic!

A big picture look at the gbpusd.

Lots of support and a probable termination of an abc correction.

Price has traded back into the "a" section so the correction is probably finished.

A trade above "b" will signal a continuation of the bull trend with more certainty. First target 1.6765

Good trading!
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  • #5,125
  • Aug 18, 2009 10:49am Aug 18, 2009 10:49am
Quoting vallauris
Glad you are still going strong Sonic!

A big picture look at the gbpusd.

Lots of support and a probable termination of an abc correction.

Price has traded back into the "a" section so the correction is probably finished.

A trade above "b" will signal a continuation of the bull trend with more certainty. First target 1.6765

Good trading!
G/u trade Re-Entry~ Miss the 1st entry.

Guess all of us are winner today
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trade safe
  • #5,126
  • Aug 18, 2009 2:24pm Aug 18, 2009 2:24pm
got 80 + and out 150 today ....
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FxHome
  • #5,127
  • Aug 18, 2009 7:10pm Aug 18, 2009 7:10pm
Heres a look at how we've progressed since my earlier post. We have managed to reach the initial longer term target (test of prior high), and are in route to possibly reach my 1.4190 area target. Ive shown how I determined this to be a target area. This long began from a lower TF breakout above the 34ema channel/50sma avg with CCI/Macd confriming. Our long entry was the pullback that followed, also being the 1st pullback at/following the Macd avg crossing the 0 line. Perhaps we'll reach our 1.4190 area target shortly this evening. Our original long entry was at the 1.4100 area this morning.
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  • #5,128
  • Aug 18, 2009 9:45pm Aug 18, 2009 9:45pm
Looking at a possible entry on the GY. Reasons:

3 times the big boys have pushed the PA up with one that looks like a sell off. I believe the sell off was to lower the price and catch some traders off guard and buy at a lower price.

Thanks everyone I would never have noiticed this before !!

PA has bounced off upper trend line and settled in just below the dragon

Expecting the big boys to push price up into the channel at the Frank or London open. If they do I will be ready to pull the trigger for a short once the Sonic Signal shows.

Thoughts????
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  • #5,129
  • Edited Aug 19, 2009 1:15am Aug 18, 2009 10:20pm | Edited Aug 19, 2009 1:15am
GU M15: After the fast, big dip two days ago, we had a Sonic Setup for the big retrace. Now, I am wondering if we will again get a downward run, and am waiting to see if/how this might set up. The attached chart shows early view on possible trade. However, as mentioned in the post above, the Frankfurt and/or London open traders may pop price a bit and sell/short into any takers. This could take PA up a bit before any run down......

Disregard the R/Y/G moving average line. It is "non-sonic" experimentation.
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  • #5,130
  • Aug 18, 2009 11:03pm Aug 18, 2009 11:03pm
Quoting traderathome
GU M15: After the fast, big dip two days ago, we had a Sonic Setup for the big retrace. Now, I am wondering if we will again get a downward run, and am waiting to see if/how this might set up. The attached chart shows early view on possible trade. However, as mentioned in the post above, the Frankfurt and/or London open traders may pop price a bit and sell/short into any takers. This could take PA up a bit before any run down......

Disregard the R/Y/G moving average line. It is "non-sonic" experimentation.
I like the higher time frame candle. I helps show what Sonic discussed.
  • #5,131
  • Aug 18, 2009 11:13pm Aug 18, 2009 11:13pm
Quoting traderathome
GU M15: After the fast, big dip two days ago, we had a Sonic Setup for the big retrace. Now, I am wondering if we will again get a downward run, and am waiting to see if/how this might set up. The attached chart shows early view on possible trade. However, as mentioned in the post above, the Frankfurt and/or London open traders may pop price a bit and sell/short into any takers. This could take PA up a bit before any run down......

Disregard the R/Y/G moving average line. It is "non-sonic" experimentation.

TAH

I am trying to work out how to calculate TP1 & TP2 and sort of figured on using former S&R and pivots as TP.
However, looking at your chart has thrown a spanner in the works on that theory as it appears that your TP is lower than the heavy Support line I drew on the chart.

Could you briefly explain the basics of working out Tp as obviously I have now not got a clue as to this.
Attached Image
Starting to see instead of just looking.
  • #5,132
  • Aug 18, 2009 11:23pm Aug 18, 2009 11:23pm
Quoting Rastaman
TAH

I am trying to work out how to calculate TP1 & TP2 and sort of figured on using former S&R and pivots as TP.
However, looking at your chart has thrown a spanner in the works on that theory as it appears that your TP is lower than the heavy Support line I drew on the chart.

Could you briefly explain the basics of working out Tp as obviously I have now not got a clue as to this.
I think TP is very reasonable....

Sonic
  • #5,133
  • Edited Aug 19, 2009 12:12am Aug 18, 2009 11:45pm | Edited Aug 19, 2009 12:12am
Quoting Rastaman
TAH

I am trying to work out how to calculate TP1 & TP2 and sort of figured on using former S&R and pivots as TP.
However, looking at your chart has thrown a spanner in the works on that theory as it appears that your TP is lower than the heavy Support line I drew on the chart.

Could you briefly explain the basics of working out Tp as obviously I have now not got a clue as to this.
In the first chart, I have boxed areas where PA recently stopped and ranged.....areas of "confluence" I believe is what they are called, or areas of "consolidation". I look to see if the "middle" of such previous areas also are close to any pivot today. If so, then that seems like a likely target. Just keep in mind the ATR, so as to not set target too far away.

In the second chart, I have added the FR tool and boxed three levels. They too, might affect the decision as to where to place targets. In this case, the third boxed level down suggests a third target placement area.

I also use FE extension levels off of any recent bollinger band pinch to help confirm target areas, but more on that later. Overall, right now I believe previous areas of confluence are the best indicator.

Edit: PA is moving higher, currently reaching the upper 1.650s. Assuming a run down, the high here will specify a SL just above it. And entry could be as PA passes thru the center of the Dragon (around mR1 on my chart). I revised second chart to show this.
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  • #5,134
  • Edited 12:52am Aug 19, 2009 12:23am | Edited 12:52am
Regarding the use of bollinger bands, in the attached chart FE levels off of the recent bollinger band pinch can help with the decision as to where to place targets. The 162%, 262% are commonly hit levels. Generally speaking, anything over 262% is good to take exit on unless you really feel the run remains strong. 424% is common for such. But as the chart shows, runs can go all the way to the 1000% level! The bollinger band shown is using settings 34,2.

Another use is in helping with entry. As you can see, PA was driven up to the CNTR of the bollinger band pinch just before this current PA drop. I have boxed aggressive and conservative entry price areas. Please do not let this deter you from adhering to the Sonic System. It does simply help explain the PA.
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  • #5,135
  • Edited 1:12am Aug 19, 2009 12:40am | Edited 1:12am
GU M15: Price is back down to preliminary ep area and dropping, on increasing volume. What will the Frankfurt Open and the London Open professional traders do about this?

Edit: On second chart see PA has been run down to the main fibonacci pivot (London GMT +1 time). If it holds then the FO/LO traders have a better opportunity to pump and dump. On the other hand, if it does not hold, then the FO/LO traders may simply join in on the fall.
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  • #5,136
  • Aug 19, 2009 2:02am Aug 19, 2009 2:02am
EJ : closed half position at 40pips ... SL moved to BE ...im done for today .. and ... continue to try understand what TAH wanna say .. huhu .. im clueless

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  • #5,137
  • Aug 19, 2009 2:05am Aug 19, 2009 2:05am
Thanks for the info T.

I think form S&R is the way to go for me right now with Fibo extensions.
Starting to see instead of just looking.
  • #5,138
  • Edited 2:20am Aug 19, 2009 2:06am | Edited 2:20am
GU M15: The bollinger band FE 162% level (1.6477) seems to be support turned resistance on this current run down. It adds to the bearish outlook now. PA is well towards first target of trade (second chart).
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  • #5,139
  • Aug 19, 2009 2:38am Aug 19, 2009 2:38am
GU M15: First target reached.
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  • #5,140
  • Aug 19, 2009 3:19am Aug 19, 2009 3:19am
Quoting traderathome
GU M15: First target reached.
Traderathome, you are expected GU will still bearish for today?
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