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Sonic R. System

  • #5,881
  • Sep 3, 2009 2:31am Sep 3, 2009 2:31am
Quoting Domas4
Latest realease of NVO does not have fibonacci numbers of 38.2 or 61.2 - it has 33 and 66.
All what you just posted is fine, but how to interpret it when trading.
I mean, should I look for divergences or something. If the bar is high and candle is short what does it mean? If the bar is high and candle is long - what's that? Stuff like that.
Domas. here is a M1 chart showing a volume story. Price rose, then highest relative volume at the very top. Then price drops. Now, this looks like a dump at the top, and maybe some consolidation on the way down, and then a good drop......

Can't read too much into it, because it is like trying to predict. But there it is, so far......
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  • #5,882
  • Sep 3, 2009 2:34am Sep 3, 2009 2:34am
Hello guyz,

Anyone took the GU trade right before asia session close?

Muhammad, I'm in the same trade as yours, however I'm using only TP1 and its 132.35.

I'm also looking at the UJ right now, and it seems like there is a set-up forming there as well. What do you think?

Thx
snu.
  • #5,883
  • Edited 2:45am Sep 3, 2009 2:34am | Edited 2:45am
I see, thanks M.
Even so, It must take nerve in such a prominent downtrend.

PS:; Sorry, I had the wrong chart posted.
Starting to see instead of just looking.
  • #5,884
  • Sep 3, 2009 2:41am Sep 3, 2009 2:41am
Quoting Rastaman
I see, thanks.
Even so, It must take nerve in such a prominent downtrend.

PS:; Sorry, I had the wrong chart posted.
It surely is..But a backing of higher TF gives a little more confidence. The higher TF analysis differ for all traders around and I am sure many of us around here would see it differently.
Would appreciate if any of more seasoned Sonikers also share their views.
  • #5,885
  • Sep 3, 2009 2:45am Sep 3, 2009 2:45am
Quoting snusnufreak
Hello guyz,

Anyone took the GU trade right before asia session close?

Muhammad, I'm in the same trade as yours, however I'm using only TP1 and its 132.35.

I'm also looking at the UJ right now, and it seems like there is a set-up forming there as well. What do you think?

Thx
snu.
Regarding UJ, there was concentrated high relative volume at the bottom (Sink to Salvage?) and price rose. Question is, is the 50 pip rise over? We now have concentrated high relative volume at the highs....more buying before next leg up, or was the previous volume just to keep price from falling furher....to keep price in a "shorting zone", and now is it "Launch and liquidate" time? Be careful. As Sonic says, trade what you see, not what you believe.
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  • #5,886
  • Sep 3, 2009 2:51am Sep 3, 2009 2:51am
Nice setup on GBP/USD with nice uptrend on H1

This is one I like and will engrave in my mind.
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Starting to see instead of just looking.
  • #5,887
  • Sep 3, 2009 2:55am Sep 3, 2009 2:55am
i m side way from U/J bcoz it is deciding situation let it come to us wait dont rush ,,,,,,,,


Quoting snusnufreak
Hello guyz,

Anyone took the GU trade right before asia session close?

Muhammad, I'm in the same trade as yours, however I'm using only TP1 and its 132.35.

I'm also looking at the UJ right now, and it seems like there is a set-up forming there as well. What do you think?

Thx
snu.
FxHome
  • #5,888
  • Sep 3, 2009 2:59am Sep 3, 2009 2:59am
Quoting Rastaman
Nice setup on GBP/USD with nice uptrend on H1

This is one I like and will engrave in my mind.
GU is in down trend on H4. On M30, see the relative high volume at the price highs (selloff?)
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  • #5,889
  • Sep 3, 2009 3:02am Sep 3, 2009 3:02am
Could well be wrong but, I get the feeling UJ is a pump and dump situation unfolding. Wonder T&D think about this one?
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Starting to see instead of just looking.
  • #5,890
  • Sep 3, 2009 3:05am Sep 3, 2009 3:05am
TAH

H1 looks stable enough, does it not?

PS: Until the Halifax news hit.
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Starting to see instead of just looking.
  • #5,891
  • Sep 3, 2009 3:11am Sep 3, 2009 3:11am
Quoting Rastaman
Could well be wrong but, I get the feeling UJ is a pump and dump situation unfolding. Wonder T&D think about this one?
Yes, that is my thinking currently. Looks like they stopped the fall, then launched it just to liquidate it.
  • #5,892
  • Sep 3, 2009 3:13am Sep 3, 2009 3:13am
Quoting Rastaman
TAH

H1 looks stable enough, does it not?

PS: Until the Halifax news hit.
Do I see a pin bar up at that last top............?
  • #5,893
  • Sep 3, 2009 3:18am Sep 3, 2009 3:18am
Quoting traderathome
Do I see a pin bar up at that last top............?
I think the open and close of that bar may be too far apart to be a good pin bar.
Open is almost half way up the bar.
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Starting to see instead of just looking.
  • #5,894
  • Sep 3, 2009 3:19am Sep 3, 2009 3:19am
Quoting traderathome
Regarding UJ, there was concentrated high relative volume at the bottom (Sink to Salvage?) and price rose. Question is, is the 50 pip rise over? We now have concentrated high relative volume at the highs....more buying before next leg up, or was the previous volume just to keep price from falling furher....to keep price in a "shorting zone", and now is it "Launch and liquidate" time? Be careful. As Sonic says, trade what you see, not what you believe.
TAH, I don't really use the volume indi, as I never tried to fully understand how it works, even though I remember quite a few discussions about ways of its interpretation.

May be you can come up with some sort of manual on volumes, just like basber did time ago with the SonicR? I think everyone in this thread would really appreciate it. I wish I could help, but as I allready told you, I'm clueless about how the volumes work.

However, what i see is a reverse H&S pattern which perfectly alligns with Sonic waves. and it seems like we had a neckline break and a pullback. The distance from head to neck gives us TP around 92.7x which happens to be right below good resistance lvl as well
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  • #5,895
  • Sep 3, 2009 3:20am Sep 3, 2009 3:20am
Quoting Rastaman
I think the open and close of that bar may be too far apart to be a good pin bar.
Is not a pin bar defined by its body being within the range of the body of the preceding candle? If so, makes no diff how large the pin bar body is, so long as it is within the range of body of preceding candle, and that it has the prerequisite wick?
  • #5,896
  • Sep 3, 2009 3:30am Sep 3, 2009 3:30am
Quoting traderathome
Is not a pin bar defined by its body being within the range of the body of the preceding candle? If so, makes no diff how large the pin bar body is, so long as it is within the range of body of preceding candle, and that it has the prerequisite wick?
This how I learned them.
For a valid Bearish Pin Bar, price must move up forming a long pin at least twice the size of the head (distance between the close and open) and return to close at or lower than the high of the previous bar.

News is out right now.

http://www.forex-trading-domain.com/...sh-pin-bar.PNG
Starting to see instead of just looking.
  • #5,897
  • Sep 3, 2009 3:33am Sep 3, 2009 3:33am
Quoting Muhammad989
i m side way from U/J bcoz it is deciding situation let it come to us wait dont rush ,,,,,,,,
What do you mean? You manually exited the trade?
  • #5,898
  • Sep 3, 2009 3:36am Sep 3, 2009 3:36am
Quoting Rastaman
This how I learned them.
For a valid Bearish Pin Bar, price must move up forming a long pin at least twice the size of the head (distance between the close and open) and return to close at or lower than the high of the previous bar.

News is out right now.

http://www.forex-trading-domain.com/...sh-pin-bar.PNG
Your criteria qualifies, and so does that candle in your chart, per:
http://www.dailyforexjournal.com/pos...e-of-them.html
  • #5,899
  • Sep 3, 2009 3:41am Sep 3, 2009 3:41am
Quoting traderathome
Your criteria qualifies, and so does that candle in your chart, per:
http://www.dailyforexjournal.com/pos...e-of-them.html

Yes, if you measure the candle it does qualify, I just don't like the look of that bar. Looks like a pin bar but doesn't smell like one.
At least to me.
I need the open and close 1.5 pips closer to be convinced, I think the bullish action we are seeing is just news.
Starting to see instead of just looking.
  • #5,900
  • Sep 3, 2009 3:46am Sep 3, 2009 3:46am
Quoting Rastaman
Yes, if you measure the candle it does qualify, I just don't like the look of that bar. Looks like a pin bar but doesn't smell like one.
At least to me.
I need the open a close closer to be convinced, I think the bullish action we are seeing it just news.
Yeah, I am not trading w/o a valid setup. But just looking as some pairs leaves me with the feeling they are being "Launched" for the sole purpose of "Liquidation".......pump 'n dump. On some pairs it looks the reverse, "Sink" for the sole purpose of "Salvaging".....torpedo 'n grab!
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