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Sonic R. System

  • #5,821
  • Sep 1, 2009 11:56pm Sep 1, 2009 11:56pm
Both EU and GU have the look of working at a setup to go long. However, due to the drop yesterday, any ride up may be just a retrace before another leg down. As long as PA remains below 89ema, I would think this remains bearish.
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  • #5,822
  • Sep 2, 2009 2:25am Sep 2, 2009 2:25am
Quoting traderathome
Regarding pivots.....the PivotsDWM indy in post #3349 I gave to Basber prior. It is of the same cloth as the PivotsMonthly and PivotsWeekly indicators I currently use on my charts. I combined the M, W, and Day formulas into one indy that allows user to select which of those three pivot groups to select. I have all three combined into that one indy, and I have all three in separate indys so that I can display all three simultaneously. I have thought about bringing PivotsMWD up to date and modifying it so that any combination of all three could be...
The Daily pivots shown in the chart below are of the same non-timezone shifted code as the Monthly and Weekly pivots that are also shown in the chart. I have modified this PivotsDaily indy to enable pivot lines to start at the start of the day, as well as the traditional full-screen lines. Also, there is an additional choice for label placement to the right of the current candle.

I am thinking now, to add the code for the Weekly and Monthly pivots to this indy, and to enable all three, or any combination of the three pivots to be displayed.....using either the Daily or the Fibonacci formula. That would mean just one pivot indy would do it all. And the user could choose what different (M, W, D....Daily/Fib formula) items to display.
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  • #5,823
  • Sep 2, 2009 2:58am Sep 2, 2009 2:58am
EU M15: Possible trade setting up.....as I currently see it. Just below Tp1 there lays the Monthly main pivot and the Weekly S1 pivot, almost on top of one another. So that is likely a strong support area. Perhaps Tp1 should be moved down to it and forget Tp2. If PA hits that support area and bounces, the bounce may be a good one....good enough to yield another setup for a short sometime afterwards. In a word, it may turn out unlikely PA will hit Tp2 as part of this setup. But, you never know.....just thinking out loud.
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  • #5,824
  • Sep 2, 2009 3:31am Sep 2, 2009 3:31am
Hello, Sonikers

This is the trade I took today, unfortunately my SL was hit. Did I do something wrong?
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  • #5,825
  • Sep 2, 2009 3:51am Sep 2, 2009 3:51am
Hi Tradeathome,

I was wondering if you can share your custom indicator you use bottom, NVO_v5 that comes with global time with it. Thank you.
Signed: PipsMonster
  • #5,826
  • Sep 2, 2009 4:04am Sep 2, 2009 4:04am
Quoting snusnufreak
Hello, Sonikers

This is the trade I took today, unfortunately my SL was hit. Did I do something wrong?
PA was below the 89ema. After a hard drop, one might expect a retrace up, but with PA below the 89ema, unless the retrace punches up thru the 89ema, that line is resistance. So, in this case, expecting a pop up was ok, but not tradeable as the 89ema was likely the limiting factor ...unless you were going for only a small amount of pips. Best to trade long only when PA is above 89ema, or so far below it that a move up to it involves lots of pips. Visa versa for shorts. Consider the 89ema a magnet that draws distant PA to it......the key word being "distant". Other than that, go long when PA is above and short when it is below. But don't overanalyze it. In this case the 89ema stopped the move, and that is all there is to it.

Sonic uses the 89ema line.....and for good reasons.
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  • #5,827
  • Sep 2, 2009 4:31am Sep 2, 2009 4:31am
Quoting snusnufreak
Hello, Sonikers

This is the trade I took today, unfortunately my SL was hit. Did I do something wrong?
it bounced off the 93,046 resistance line.
Also the trend was down on all TF including, M15, H1, H4 , Di, W1 M1.
I am Bearish on this pair.
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Starting to see instead of just looking.
  • #5,828
  • Sep 2, 2009 4:45am Sep 2, 2009 4:45am
Hi Trader,

I loaded your v5 several days ago, whenever it was that you posted it. Please note that the price label for Yesterday's High and Low only shows 2 decimal places, therefore not exact. I did not see any setting for this, so thought you might want to check it.

I have always liked this indicator, and you took it to a whole other level months ago. Thanks for all you've done with it.

Ed
Up or down, gimme a ticket
  • #5,829
  • Sep 2, 2009 4:47am Sep 2, 2009 4:47am
Quoting snusnufreak
Hello, Sonikers

This is the trade I took today, unfortunately my SL was hit. Did I do something wrong?
Here is my demo trade.

Picture below as at Entry
UJ 090902 1133am - Trend is down – Re-entry

Early entry - short on pull back – CCI turn red. Wave 1 is 88 pips, retracement is 50% ie 44pips. 1st target is the last swing low 22 pips, 2nd target is 50% of Wave1 44pips, 3rd target is 88 pips. SL is last swing high 44 pips.





Picture above is taken as at 1st target hit.

UJ 090902 Trade update 1615 pm

Took 1st target +28 pips, SL moved to +2pips, Target moved to +88 pips.

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  • #5,830
  • Sep 2, 2009 5:00am Sep 2, 2009 5:00am
Not seeing much in the way of good setups today.

The best on offer at the moment seems to be in AUD/USD and USD/CAD.

.....or maybe im just missing something elsewhere?

In any case, im quite happy to sit and wait.

Leo
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  • #5,831
  • Sep 2, 2009 5:04am Sep 2, 2009 5:04am
Quoting snusnufreak
Hello, Sonikers

This is the trade I took today, unfortunately my SL was hit. Did I do something wrong?
I guess it was a fundamental problem not so much technical,
JPY is exptected to be strenghtening for a while, and it recently broke a few important support levels, so there is a strong push down in this pair.
I am short biased in this pair
And ofcourse, as traderathome mentioned, 89 ma is important.

Just count it as business expense and keep going
----
By the way guys, can some people here explain how they interpret NVO and how they trade using it (entry, exit) ?
cut losses short, let profits run.
  • #5,832
  • Sep 2, 2009 5:14am Sep 2, 2009 5:14am
USD/JPY looks like it may break for a short at 92.480


It has tested this resistance line twice already and may break on the third try, especially as the trend looks more down than the other two tests of this line.
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Starting to see instead of just looking.
  • #5,833
  • Edited 6:09am Sep 2, 2009 5:16am | Edited 6:09am
SL's are at the last fractal

EDIT: Long trigerred

EDIT: TP @ 1.6208 - resistance at daily pivot

EDIT: Chickened out too early. DPV breached
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cut losses short, let profits run.
  • #5,834
  • Sep 2, 2009 6:31am Sep 2, 2009 6:31am
My long trade...

SL near 1.61xx ..look like a nice support there..

Sonic
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  • #5,835
  • Sep 2, 2009 6:32am Sep 2, 2009 6:32am
EUR.I and USD.I Indexes

Today I do not expect USD and EUR to be negatively correlated, since they are both dropping. However USD has not yet broken an important support line. If it does, I will try to avoid this pair unless I see a perfect setup
For some time I expect EUR/USD to be flat-ranging.
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cut losses short, let profits run.
  • #5,836
  • Sep 2, 2009 6:35am Sep 2, 2009 6:35am
Quoting Rastaman
If anyone sees a future post of mine with any other templates or indicators than these, Please hit me with a large brick on the back of the neck.
Sonikers are waiting,,,,

http://2.bp.blogspot.com/_TsE8UiBLey...ow+a+brick.jpg

Sonic
  • #5,837
  • Sep 2, 2009 6:46am Sep 2, 2009 6:46am
Quoting Domas4
I guess it was a fundamental problem not so much technical,
JPY is exptected to be strenghtening for a while, and it recently broke a few important support levels, so there is a strong push down in this pair.
I am short biased in this pair
And ofcourse, as traderathome mentioned, 89 ma is important.

Just count it as business expense and keep going
----
By the way guys, can some people here explain how they interpret NVO and how they trade using it (entry, exit) ?

Thx, Domas and All for sharing your thoughts.

TAH, could you plz explain more about 89 EMA? I've seen lots of set-ups where it is not taken into the consideration. So the question is when do we have to take in consideration the 89 EMA when trading Sonic R set-ups?

Consider the example in the attachment of GBPUSD for 17 Aug - there was a perfect Sonic entry, however price didn't even come close to the 89 EMA.

How are my today's UJ set-up and the GU set-up in the pic are different from the technical analysis point of view?
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  • #5,838
  • Sep 2, 2009 6:51am Sep 2, 2009 6:51am
Quoting snusnufreak
Thx, Domas and All for sharing your thoughts.

TAH, could you plz explain more about 89 EMA? I've seen lots of set-ups where it is not taken into the consideration. So the question is when do we have to take in consideration the 89 EMA when trading Sonic R set-ups?

Consider the example in the attachment of GBPUSD for 17 Aug - there was a perfect Sonic entry, however price didn't even come close to the 89 EMA.

How are my today's UJ set-up and the GU set-up in the pic are different from the technical analysis point of view?
First of all TAH uses SMA not EMA,
Secondly - it's better for the PA to be above 89 if you go long, and below 89 if you go short.
Please, do not expect PA to repeat everytime you see identical setup. - it's forex-it's market- all other factors can affect it.
cut losses short, let profits run.
  • #5,839
  • Sep 2, 2009 7:07am Sep 2, 2009 7:07am
Quoting snusnufreak
Hello, Sonikers

This is the trade I took today, unfortunately my SL was hit. Did I do something wrong?
Sometimes you will have losses. But, with respect to the others who responded to you, I would say that none of that matters, not the 89 ema, not the resistance at the trade level, and not the fundamental analysis of the Yen.

Here is what does matter: Look closely at price action, and yo will see that UJ never triggered a classic SonicR. I have attached a chart pointing out what I mean. Other may disagree, but that is how I see this trade. You must allow price to close above the dragon for longs. Price should then pullback, preferably for several bars, and preferably back into the dragon without closing below (price can go below the dragon, and even close below, so long as price quickly reverse back into and above the dragon). If price does close below the dragon, you would now be looking at a potential long and a potential short.

Reverse this for a SonicR short.

For SonicR Long: Wait for close above dragon, then wait for decline, then buy break up high.

For SonicR Short: Wait for close below dragon, then wait for rally, and short break down low.

Use price action and wave analysis in and around the dragon, and you won't be often fooled.
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  • #5,840
  • Sep 2, 2009 7:12am Sep 2, 2009 7:12am
Quoting ddaytrader
Sometimes you will have losses....
Would you go long if candle closed above dragon in M5, but in M15 didn't?
cut losses short, let profits run.
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