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Sonic R. System

  • #7,081
  • Oct 29, 2009 3:14am Oct 29, 2009 3:14am
EU: Here is how I see the trade levels. Second chart shows FE off of Bollinger band squeeze....162% and 262% levels taken for targets.
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  • #7,082
  • Oct 29, 2009 3:15am Oct 29, 2009 3:15am
Hello, sonikers

Is the long setup on the EU still valid ?

The price closed below the dragon...
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  • #7,083
  • Oct 29, 2009 3:41am Oct 29, 2009 3:41am
I would think that the FXStreet "An introduction to Price Behaviour" recorded webinar is good education to have.

The live sessions transcripts link : http://www.fxstreet.com/live/transcripts/
  • #7,084
  • Oct 29, 2009 4:03am Oct 29, 2009 4:03am
Quoting pipoca
Hello, sonikers

Is the long setup on the EU still valid ?

The price closed below the dragon...
Yes, coz after that low, you see the higher high formed.
cut losses short, let profits run.
  • #7,085
  • Edited 4:33am Oct 29, 2009 4:11am | Edited 4:33am
Guys, make sure you have your long orders closed before the GDP in 5 hours

This helps to pump up E/U:
http://www.youtube.com/watch?v=0HtyF0jux2Q&feature=fvst
Inserted Video


cut losses short, let profits run.
  • #7,086
  • Oct 29, 2009 4:29am Oct 29, 2009 4:29am
Quoting Domas4
Guys, make sure you have your long orders closed before the BVP in 5 hours

This helps to pump up E/U:
http://www.youtube.com/watch?v=0HtyF0jux2Q&feature=fvsthttp://www.youtube.com/watch?v=0HtyF0jux2Q&feature=fvst

Hello, I don't understand what mean BVP ?
  • #7,087
  • Oct 29, 2009 4:33am Oct 29, 2009 4:33am
Quoting pipoca
Hello, I don't understand what mean BVP ?
Upsy, sorry I wrote it in my native language

GDP! Gross Domestic Product
cut losses short, let profits run.
  • #7,088
  • Oct 29, 2009 4:48am Oct 29, 2009 4:48am
Quoting Domas4
Guys, make sure you have your long orders closed before the GDP in 5 hours

This helps to pump up E/U:
http://www.youtube.com/watch?v=0HtyF0jux2Q&feature=fvsthttp://www.youtube.com/watch?v=0HtyF0jux2Q&feature=fvst

Sound advice. Thank you, Domas4. You might think it so obvious that it need not have been mentioned, but sometimes so much might be on the mind of the trader, that the obvious is hiding in the closet! Thanks again!

By the way, check your PM and email.
  • #7,089
  • Oct 29, 2009 4:59am Oct 29, 2009 4:59am
Traderathome thank you very much for that pivot indi that you uploaded.

I am in the UK and am using Alpari UK, I was finding it difficult which pivot indi to use because there are so many out there.

I noticed you dont have to fiddle with the time settings on this one.
  • #7,090
  • Oct 29, 2009 5:01am Oct 29, 2009 5:01am
EU M15: You can see they quickly pulled the price down, at which time a good base of trade counts started building. And this has brought the price up around the 89 ema/ DPV area. Perhaps this is where they feel it best to be until the release, since the trade counts have now fallen off, but the price seems to be staying in that area on little interest now.

The high trade count base that started about 40+ pips lower, may be a sign of confidence in an upwards move later, but that is pure speculation. But we can see the price area where the high trade count occurred.

Domas4 is wise in suggesting trades be taken off the table before news releases. Targets on this trade might not be reached by the time the trade should be closed.
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  • #7,091
  • Oct 29, 2009 5:04am Oct 29, 2009 5:04am
here e/u setup lets c
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FxHome
  • #7,092
  • Edited 6:35am Oct 29, 2009 5:52am | Edited 6:35am
Had to go out and couldn't monitor the GU trade I planned, but I am glad to see it would have hit my TP2. The more experience the better.

The hourly pinbar on the H1 chart on the left, was just too sexy to let slide after the nose pierced the 50 fibo and the DPV.

SL would have been better placed below the support line though.
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Starting to see instead of just looking.
  • #7,093
  • Oct 29, 2009 6:51am Oct 29, 2009 6:51am
Quoting ddaytrader
Here's a little advanced SonicR on the EU. There is a 17 tick risk, with TP1 +30 and TP2 +60.
I just woke up and see that TP1 was hit for +30. My stop loss is now break even, and I am holding for a possible trip to TP2 for +60.
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  • #7,094
  • Oct 29, 2009 7:02am Oct 29, 2009 7:02am
And here is how the advanced SonicR looks:

1) Price reaches potential support and forms a possible double bottom from which to trade - we have a possible low

2) Price rallies toward the dragon (it does not matter whether price reaches the dragon or not - we just need price to retrace at least 50% of the prior swing. In this case, price retraced just over 61.8% of the swing down that carried it into its possible double bottom.

3) Price then retraces at least 38% of that swing up from its low. In this case, price retraced just over 50% of the swing up from the low, and then starts to rally, putting in a potential higher low.

4) Buy stop above the high of the swing up from the low, and use S/R and fib extensions for TP's


It is really all about support and resistance, highs and lows, higher highs and higher lows, lower lows and lower highs.

Do not get confused with the fib retracement stuff. I do not usually measure them myself. I include them here because it shoul help newer traders distinguish a minor wiggle within a swing from separate swings.
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  • #7,095
  • Edited 7:29am Oct 29, 2009 7:08am | Edited 7:29am
Quoting ddaytrader
Trading in, i.e. during the formation of a daily bar or a four hour bar - but not after the bar has formed. The 15 minute PA gets you into the market well before a "hammer" or "engulfing candle" on these large time frames has formed. The higher TF bars are the effect, not the cause.
Hopefully, D will answer this question but if not SOMEONE PLEASE answer it.


D mentions that the 15 min PA gets us into a trade well before the hammers and like on higher tf and that we are trading the M15 during the formation of a bar on H4, not after it. But, if we look at the bars on the H1 and M15 we can see that before that H1 hammer, there was nothing to trade & the trade came into play at the next candle after the hammer which was the continuation candle.

This is why I can not grasp the idea that DD put forward that we are not trading the continuation candle of the hammers, pinbars etc!

EDIT: Also, how can we know a hammer is going to be a bullish hammer before it completes? It could just as well retrace and became a Bearish engulfing candle?


HELP! Confusion Overload!
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Starting to see instead of just looking.
  • #7,096
  • Oct 29, 2009 7:11am Oct 29, 2009 7:11am
Quoting traderathome
ddaytrader, what top/bottom range are you using to draw that extension. I am not coming up with those levels.
Anchor the fib tool at the 1.4682, second anchor at the 1.4712 swing high, and then pull the third anchor back to the 1.4696 pullback low. Are you pulling the fib tool back and setting the thrid anchor, or are you just planting two anchors and measuring the extensions from the end of the swing instead of from the pullback low?

In my screenshot, the purple lines outline the fib tool anchors.
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  • #7,097
  • Oct 29, 2009 7:41am Oct 29, 2009 7:41am
clossed lot one and 2nd BE now
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  • #7,098
  • Oct 29, 2009 7:48am Oct 29, 2009 7:48am
tp gonna hit bit push more i will clossed 1 lot at tp 1 lets c
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  • #7,099
  • Oct 29, 2009 7:57am Oct 29, 2009 7:57am
Quoting sonicdeejay
That’s my plan…

http://cdn.forexfactory.com/attachme...1&d=1256790800

Sonic
8 hours later...

TP1 hit ... the rest is free ride..

Sonic R doesn't give u 100% hit rate, but you will be the winner most of the time...

Sonic
(P.S if anyone tel you his/her system is 100% hit rate..gives him/her a big laugh on the face)..
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  • #7,100
  • Oct 29, 2009 8:05am Oct 29, 2009 8:05am
Quoting ddaytrader
I just woke up and see that TP1 was hit for +30. My stop loss is now break even, and I am holding for a possible trip to TP2 for +60.
TP2 hit.
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