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Sonic R. System

  • #6,641
  • Oct 8, 2009 7:58am Oct 8, 2009 7:58am
Quoting szpower
Only a bit earlier, if i am not wrong, Sonic said after 19:00 GMT 8
It's a Valid Entry I Believe, And The Thing Is Price Broke The 2 Previous Highs At Your Entry Point, So You Entered Earlier Prior To Sonic Classic Entry, But It's a Good One I Believe.

If I Was In This Trade, I Would've Been Broke Even Till Now, Because Due To Symmetrical Triangle, I Would've Brought My SL To BE When Price Reaches The TL (About +25) And So It Would Be Hit By Now.

After All, I Think It's a Good One And You Should Be In Profit By Now

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #6,642
  • Oct 8, 2009 8:04am Oct 8, 2009 8:04am
EU M30: Needed an M30 chart to capture the story.....

Two days ago I mentioned that until we had lots of volume at the highs, we may not yet be ready for a turn in the price. We may be close to that now with high volume coming in at the highs.
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  • #6,643
  • Oct 8, 2009 9:27am Oct 8, 2009 9:27am
http://www.proforexstrategy.com/ Look at second post down.
Probability Professor
  • #6,644
  • Oct 8, 2009 10:55am Oct 8, 2009 10:55am
Trying U/J long setup.
Reasons: all sonicR rules, volume up, 4h divergence, 1 hour LH> LL waves.
Any comments, critics?

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  • #6,645
  • Edited 6:29pm Oct 8, 2009 5:38pm | Edited 6:29pm
This one was kind of a seesaw. I am holding it yet.
float +36 pips now.
Thanks Basber!

Update:
Now TP1 hit, +60 pips, take half, another half BE.

Quoting Basber
It's a Valid Entry I Believe, And The Thing Is Price Broke The 2 Previous Highs At Your Entry Point, So You Entered Earlier Prior To Sonic Classic Entry, But It's a Good One I Believe.

If I Was In This Trade, I Would've Been Broke Even Till Now, Because Due To Symmetrical Triangle, I Would've Brought My SL To BE When Price Reaches The TL (About +25) And So It Would Be Hit By Now.

After All, I Think It's a Good One And You Should Be In Profit By Now

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 26 KB
Be a friend, My skype id: helloworldsh
  • #6,646
  • Oct 8, 2009 8:35pm Oct 8, 2009 8:35pm
EU M15: Watching for this possible short trade....
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  • #6,647
  • Edited 9:47pm Oct 8, 2009 9:30pm | Edited 9:47pm
Looks like we have a setup forming on GBP/USD

Now, I have manually drawn all S&R lines I notice that it is preventing me from placing the order where I would normally.

I marked the areas where I would naturally place SL, EP, TP1 & TP2 but now my S&R lines are preventing me from doing this.

Any suggestions on this folks?
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Starting to see instead of just looking.
  • #6,648
  • Edited 9:49pm Oct 8, 2009 9:39pm | Edited 9:49pm
Quoting Rastaman
Looks like we have a setup forming on GBP/USD

Now, I have manually drawn all S&R lines I notice that it is preventing me from placing the order where I would normally.

I marked the areas where I would naturally place SL, EP, TP1 & TP2 but now my S&R lines are preventing me from doing this.

Any suggestions on this folks?
Rastaman, looks ok. The only suggestion I can see that might be fruitful is that you use a dark color (black, midnightblue, etc) for your chart foreground. It is impossible to read scale in order to see what price level your lines are at.

Edit: Attached chart. Always the concern with entering a trade before LO is that when FO/LO comes the price may be whipsawed. A close in SL may close trade for a loss. Waiting until well into LO trading, you can better discern any trade and proper SL closer in with lowered likelyhood of extreme whipsawing. In otherwords, entering a trade during Asian session increases the opportunities for whipsawing and even a complete change in the outlook of the trade by the time the LO traders start going to work.
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  • #6,649
  • Oct 8, 2009 9:48pm Oct 8, 2009 9:48pm
Quoting traderathome
Rastaman, looks ok. The only suggestion I can see that might be fruitful is that you use a dark color (black, midnightblue, etc) for your chart foreground. It is impossible to read scale in order to see what price level your lines are at.

Edit: Attached chart.

Thanks T

I discovered the same thing after posting the image, just changed it.

Just comparing charts


http://cdn.forexfactory.com/attachme...1&d=1255056232http://cdn.forexfactory.com/attachme...1&d=1255056444
Starting to see instead of just looking.
  • #6,650
  • Oct 8, 2009 9:52pm Oct 8, 2009 9:52pm
Quoting traderathome
EU M15: Watching for this possible short trade....
Edit: Tp1 reached.
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  • #6,651
  • Oct 8, 2009 10:01pm Oct 8, 2009 10:01pm
Looks like 1.6006 is where it bounced.
I did not take this trade as I want to practice more with Manual S&R lines and I am not sure I am drawing them correctly yet.

Planning the trade and watching the plan is just as good as pulling the trigger.

Interesting to see how manually drawn S&R seems to show us the important 38.2 fibo just where it bounced 6 times previously.

I guess Basber taught me this as a sort of forex mantra that should serve me well.

EP, would have been taken at this point.
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Starting to see instead of just looking.
  • #6,652
  • Oct 8, 2009 10:39pm Oct 8, 2009 10:39pm
TAH

Now, I see why you use a plain vanilla background.
Much easier to see what is going on for me personally at this learning stage.

Price stalling just above EP but M5 seems to show a LH and a continued downtrend.
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Starting to see instead of just looking.
  • #6,653
  • Oct 8, 2009 10:40pm Oct 8, 2009 10:40pm
EU M15: Lowering Tp2....
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  • #6,654
  • Oct 8, 2009 11:01pm Oct 8, 2009 11:01pm
Nice trade T

I am just watching it to study and see if my S&R is holding up.
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Starting to see instead of just looking.
  • #6,655
  • Oct 8, 2009 11:13pm Oct 8, 2009 11:13pm
Quoting Rastaman
Nice trade T

I am just watching it to study and see if my S&R is holding up.
Tp1 now acting as resistance. Tp2 is about 100 pips below high of session.
  • #6,656
  • Oct 8, 2009 11:40pm Oct 8, 2009 11:40pm
Now, this is interesting.
My would be EP would have been triggered and with this retracement getting close to the lower tunnel dragon line, ABORT bells would be going off in my head with the heat.

Perhaps the only thing that would keep me in this trade would be the Lower High on the retracement which stalled.

But, there must be a better way of knowing instead of guessing & hoping?
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Starting to see instead of just looking.
  • #6,657
  • Oct 8, 2009 11:45pm Oct 8, 2009 11:45pm
Quoting Rastaman
Now, this is interesting.
My would be EP would have been triggered and with this retracement getting close to the lower tunnel dragon line, ABORT bells would be going off in my head with the heat.

Perhaps the only thing that would keep me in this trade would be the Lower High on the retracement which stalled.

But, there must be a better way of knowing instead of guessing & hoping?
PA is rarely an even move over a long distance. It is rarely a step move over a long distance. Most often, it is a whipsawing move over a distance! In this case, as I am reading it currently, PA came down to 89ema, then oscillated about it for a while. Then it broke out and moved down a bit. Now it is being moved back up to "test" it.....and not so unexpected, what with FO/LO up ahead, because if this is to move down further, why not pump it back up a bit first....? .....for the FO/LO boys to start shorting at a bit higher price (maybe they will have to pump it a bit themselves first?)
  • #6,658
  • Oct 8, 2009 11:53pm Oct 8, 2009 11:53pm
Quoting traderathome
PA is rarely an even move over a long distance. It is rarely a step move over a long distance. Most often, it is a whipsawing move over a distance! In this case, as I am reading it currently, PA came down to 89ema, then oscillated about it for a while. Then it broke out and moved down a bit. Now it is being moved back up to "test" it.....and not so unexpected, what with FO/LO up ahead, because if this is to move down further, why not pump it back up a bit first....?...

So basically, this is trading the Asian session which does not have the volume to move it? How did this compare to the EU trade you took T?

I mean, were there other circumstances that you are aware of that allowed you to take that trade?
Starting to see instead of just looking.
  • #6,659
  • Edited 12:17am Oct 9, 2009 12:02am | Edited 12:17am
Quoting Rastaman
So basically, this is trading the Asian session which does not have the volume to move it? How did this compare to the EU trade you took T?

I mean, were there other circumstances that you are aware of that allowed you to take that trade?
RM, both EU and GU "setups" were a gamble, since they were occuring in Asian session. And the problem with trading in the Asian session is NOT that they don't have the volume to move it, but INSTEAD they can (and do) move it on very little volume. Hence, there is really no MOMENTUM, just MANIPULATION!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

It make trades a bit more risky, and that is probably why Sonic trades only after the LO open is history, and the Big Boys get settled in to do big business. Once THEY start PA in a direction, unless it is a head fake, it usually has momentum to carry on for a better distance.

Edit: The way I see EU so far in the Asian session is that they first pumped it on light volume. Then at the top they brought in the heavy volume selloff...all the way down, lots of volume selling. Then they resumed the light volume pump routine again, and are now holding it up somewhat. I guess they could keep it there for the FO/LO boys to decide if they want to continue to pump it before they have a heavy selloff, or maybe the Frankfurt and London syndicates will appreciate that the asian traders brought it back up a bit after their manipulations, and just start selling off from where ever it stands.
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  • #6,660
  • Oct 9, 2009 12:14am Oct 9, 2009 12:14am
Quoting traderathome
RM, both EU and GU "setups" were a gamble, since they were occurring in Asian session....

Ah, I had it the wrong way around. Thanks T

I notice that both the EU & GU trade are still conforming to the trend lines in the APF.
Perhaps when London opens, they will continue on this path.
But, as you say, we have to wait and see.
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Starting to see instead of just looking.
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