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Sonic R. System

  • #5,701
  • Aug 29, 2009 8:52pm Aug 29, 2009 8:52pm
Quoting Rastaman
I see D. I was wondering if you had seen a pin bar and were trading it, that's all.


Anyone aticipating GBP/USD to bounce off the upper line of the tunnel which is the 38.2 fibo on H1, then break the DP before it continues to slide?
Based upon H4, unless PA breaks upper TL then comes back to test it, then proceeds up and away.....until then trend is down. M15 has PA in range (boxed tan) and I am thinking it best to wait for next FO/LO to see if PA gets hiked then slammed, or hiked then hiked more....no telling at this point.
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  • #5,702
  • Aug 29, 2009 9:01pm Aug 29, 2009 9:01pm
Quoting Rastaman
I see D. I was wondering if you had seen a pin bar and were trading it, that's all.


Anyone aticipating GBP/USD to bounce off the upper line of the tunnel which is the 38.2 fibo on H1, then break the DP before it continues to slide?
I don't see the 38.2% retrace on the FR tool at the upper Dragon line. Seems to be between upper and middle line.
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  • #5,703
  • Aug 29, 2009 9:55pm Aug 29, 2009 9:55pm
TAH

I am presuming this is the bottom of the move down on H1 till it breaks, with the fibo at the high to the low. Or the low to the high on the previous move up.
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Starting to see instead of just looking.
  • #5,704
  • Aug 29, 2009 10:04pm Aug 29, 2009 10:04pm
The lower screen shot is actually the M30 but it pans out about the same on the H1.
Starting to see instead of just looking.
  • #5,705
  • Aug 29, 2009 10:35pm Aug 29, 2009 10:35pm
What is an "FO/LO?

Daily ended with a Hammer then a pin bar.
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Starting to see instead of just looking.
  • #5,706
  • Aug 30, 2009 12:34am Aug 30, 2009 12:34am
Quoting Rastaman
Juneman

I am also relatively new around here and can not answer all your questions, the gray CCI area is something I have also wondered about.

Your entry seems too late, you missed the signal candle break the lower tunnel dragon earlier. Still you could also have used the short wave to enter.

As for a Trailing Stop, this is a stop that moves with price, say you set a 20 pip trailing stop, once your trade moves...
Hi Guys,

Thanks for helping me out and i am glad i am not the only one who doesnt know what that grey bit means.

Rastaman i have been looking at your screen shot from USD/CAD and i can't understand why you would have taken trade where you suggested. To me that could have gone anywhere and i would no way of taken that trade. Could you please explain why you did it. I can see there was a H L HL but it was tiny.

Also where can i get a automatic trailing stop that Ddaytrader suggested?

Thank You again guys
  • #5,707
  • Aug 30, 2009 12:36am Aug 30, 2009 12:36am
Quoting Rastaman
What is an "FO/LO?

Daily ended with a Hammer then a pin bar.
FO = Frankfurt Open
LO = London Open
  • #5,708
  • Aug 30, 2009 12:51am Aug 30, 2009 12:51am
Quoting traderathome
FO = Frankfurt Open
LO = London Open

Thanks T.

I was racking my brains. Smoke comming out of my ears.
Starting to see instead of just looking.
  • #5,709
  • Edited 1:52am Aug 30, 2009 1:39am | Edited 1:52am
Inserted Video
  • #5,710
  • Aug 30, 2009 6:31am Aug 30, 2009 6:31am
Quoting Juneman
Also where can i get a automatic trailing stop that Ddaytrader suggested?
Trailing stops are a function of trading platforms. Check with your broker regarding availability and use.

Quoting Juneman
i can't understand why you would have taken trade where you suggested. To me that could have gone anywhere and i would no way of taken that trade. Could you please explain why you did it. I can see there was a H L HL but it was tiny.
Rastaman never said he took that trade. You asked a question about an entry point, and Rastaman responded with two potential entries he thought would have been better. The first entry point he suggested would thankfully never have been triggered. This was not a SonicR entry. The swings were too small and the L-H that he picked were within the range of the consolidation that commenced at the most recent high. So, you are right on that entry point.

However, I think a case could be made for his second suggestion. I have included a screenshot showing my take on the price action in question, and either of the blue lines would have been arguably acceptable entries.

I did not trade it. In hindsight, it is easier to pick out these marginal set ups than it is in real time. In real time, I do not think I'd have traded it because I do not think price action would have suggested to me that it was worth the risk. I trade the most clear and distinct wave price action. I try tobe disciplined and not force trades by taking set ups that are marginal at best. Also, I do not trade USDCAD very often (I cannot remember my last USDCAD trade, but it has probably been years).


Quoting Juneman
To me that could have gone anywhere and i would no way of taken that trade.
Price can always go anywhere. If you are looking for certainty, you will not find it here. I have my share of perfect SonicR trades where price action stops me into the trade and then turns and takes me out at my stop loss. I agree that you should not have taken that particular trade, but the reason should be because there was no set up, not that price could go anywhere. If that is your reason for not taking a trade, then you have a built in reason to refuse every trade, because price can always, and often will, go anywhere.
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  • #5,711
  • Aug 30, 2009 6:39am Aug 30, 2009 6:39am
Quoting Juneman
screen shot from USD/CAD and i can't understand why you would have taken trade where you suggested.
Another quick look at the UCAD, and I see two trades - one short and one long, that are much more clear. You should take a look at these. In my opinion, this is the price action for which you should be looking.
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  • #5,712
  • Aug 30, 2009 6:40am Aug 30, 2009 6:40am
Quoting Juneman
Hi Guys,

Thanks for helping me out and i am glad i am not the only one who doesnt know what that grey bit means.

Rastaman i have been looking at your screen shot from USD/CAD and i can't understand why you would have taken trade where you suggested. To me that could have gone anywhere and i would no way of taken that trade. Could you please explain why you did it. I can see there was a H L HL but it was tiny.

Also where can i get a automatic trailing stop that Ddaytrader suggested?

Thank You again guys
The first candle that breaks the lower line of the tunnel is not an entry, it is simply a sign of a possible setup which came later, as I marked on the chart. As DD said it is easy to see these things in hindsight and I may well have not taken it live.
Starting to see instead of just looking.
  • #5,713
  • Aug 30, 2009 7:31am Aug 30, 2009 7:31am
Ok thanks for the help now i see what you are saying about setups. I will keep on looking at the charts and come back here once i can show i can do it.

Bring on monday!
  • #5,714
  • Aug 30, 2009 8:00am Aug 30, 2009 8:00am
i say only one thing that ,,,,The only one thing is required and that is PA and support and Resistance lvl.newbies should study PA and support and resistance lvl hope its help
FxHome
  • #5,715
  • Edited 8:46am Aug 30, 2009 8:29am | Edited 8:46am
Quoting Muhammad989
i say only one thing that ,,,,The only one thing is required and that is PA and support and Resistance lvl.newbies should study PA and support and resistance lvl hope its help
You got it, Muhammad!

This morning I decided to look into Raghee Horner a bit, and as a result of my googling I found her blog. I was surprised to discover that she had been calling the 34 ema bands "the wave." I always thought "wave analysis" was about price action waves, not moving averages. Also, I see she has changed her name for the 34 ema band to "RCI" for "Rahgee Cycle Indicator." Well, I guess that is better than calling it a "wave" because, let's face it, "wave" has always described price action itself. See http://ragheehorner.com/blog/?p=131

Anyway, to be clear, when I refer to wave analysis, I am referring to price action H-L-LH or L-H-HL. The Sonic Dragon, aka Raghee Wave aka RCI (Raghee Cycle Indicator) is an indicator that helps confirm the trend, but it is not itself a "wave" nor is it price action.

To be fair, Raghee Horner says she changed the name from wave because it does not describe the indicator at all. She also says she does not like the new name. Maybe we should all email her and tell her it already has a name:

The Sonic Dragon!

  • #5,716
  • Aug 30, 2009 9:19am Aug 30, 2009 9:19am
i will show u one from my trade i take from it only 25pip _ first time trading gold

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  • #5,717
  • Aug 30, 2009 5:28pm Aug 30, 2009 5:28pm
Quoting ddaytrader
You got it, Muhammad!

This morning I decided to look into Raghee Horner a bit, and as a result of my googling I found her blog. I was surprised to discover that she had been calling the 34 ema bands "the wave." I always thought "wave analysis" was about price action waves, not moving averages. Also, I see she has changed her name for the 34 ema band to "RCI" for "Rahgee Cycle Indicator." Well, I guess that is better than calling it a "wave" because, let's face it, "wave" has always described price action itself. See http://ragheehorner.com/blog/?p=131...
Raghee's been using this since 2004 as far as I know, so it's not new nor is it something that Sonic invented. Just to set the record straight.
  • #5,718
  • Edited 6:00pm Aug 30, 2009 5:49pm | Edited 6:00pm
Quoting ozziedave
Raghee's been using this since 2004 as far as I know, so it's not new nor is it something that Sonic invented. Just to set the record straight.
Never said it was new, and never said Sonic invented it, so there is no record to set straight, but thanks for the effort.

Did you even read my post?
  • #5,719
  • Aug 30, 2009 6:31pm Aug 30, 2009 6:31pm
Quoting ozziedave
Raghee's been using this since 2004 as far as I know, so it's not new nor is it something that Sonic invented. Just to set the record straight.
To be sure. I've been using the 3 moving averages for quite some time....call it a Tradeband. And used them in the lower form (ex: 13 mas) for scalping. But here, we call it the Sonic Dragon....has some far east mystic about it, heh!
  • #5,720
  • Aug 30, 2009 6:42pm Aug 30, 2009 6:42pm
EU and GU have kind of the same look about them, but I am thinking FO/LO will pump them again before we see any real move down. Anyone else thinking that? In other words, now looks like entry, but I am passing on it.
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