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Sonic R. System

  • #8,081
  • Dec 1, 2009 6:51am Dec 1, 2009 6:51am
That was my wave count and I entered at second bullish candle..after breaking up dragon,,,


Sonic
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  • #8,082
  • Dec 1, 2009 6:55am Dec 1, 2009 6:55am
Ok good, thank you,
this is critical information for my trading.
cut losses short, let profits run.
  • #8,083
  • Edited 8:09am Dec 1, 2009 7:53am | Edited 8:09am
Hi , all Sonikers

Another question from Lithuania
Why this G/U setup was bad? not so clean waves? before london? other reason?
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  • #8,084
  • Dec 1, 2009 8:05am Dec 1, 2009 8:05am
Quoting Vytautas
Hi , all Sonikers

Another question from Lithuania
Why this G/U setup was bad? not so clean waves? before london? other reason?

Attachment
It did touch the prev low before it went up...
One careful trader might have SL @ BE when his position hit TP1...TP1 should be near prev low...
Btrw...it must have happened during asia session...or before london..

Sonic

(Once any trade open, watch it like a hawk...)
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  • #8,085
  • Dec 1, 2009 8:15am Dec 1, 2009 8:15am
My fault main reason was that I wasnt carreful by previous day low, after that I could have nice long with massive waves and ressistance by near dragon which later becomes support.

Thanks Sonic

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  • #8,086
  • Dec 1, 2009 9:16am Dec 1, 2009 9:16am
The news released for USD- EU isn' going anywhere, but EJ is dropping like a stone. I don't get it....
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  • #8,087
  • Dec 1, 2009 9:53am Dec 1, 2009 9:53am
grrrrrrrrrrrrrrrrrrr
ranging yesterday when I could trade...
trending when I'm working today...
I think I've missed about 200 pips today...

  • #8,088
  • Dec 1, 2009 10:29am Dec 1, 2009 10:29am
Quoting kAi|zOku
The news released for USD- EU isn' going anywhere, but EJ is dropping like a stone. I don't get it....
One thing this thread taught me (ddaytrader to be exact) is that-
your job as a daytrader is to trade what you see according to your system.
Nobody can predict short-term price variations due to news and all efforts
to do so is unneccessary noise to your system.

Quoting cignus
grrrrrrrrrrrrrrrrrrr
ranging yesterday when I could trade...
trending when I'm working today...
I think I've missed about 200 pips today...
From my past experience: When I count profit I COULD have,
leads me to forcing my trades and seeing setups that are not there.
There is plenty of money to be earned, don't regret a few trades you missed.
cut losses short, let profits run.
  • #8,089
  • Dec 1, 2009 11:34am Dec 1, 2009 11:34am
sure, i know that. just watched EJ for a breakout after it managed to get over MPV succesfully. and now i've to wait longer, but next signal is going to appear and i'll get it. I'll catch you EJ

thanks you.
  • #8,090
  • Dec 1, 2009 12:40pm Dec 1, 2009 12:40pm
Quoting Domas4

From my past experience: When I count profit I COULD have,
leads me to forcing my trades and seeing setups that are not there.
There is plenty of money to be earned, don't regret a few trades you missed.
There were perfects setup today... no need to force any trades
(I would be yet long on GBP-USD coz trailing stop wouldn't have been hit...)
I hope I could catch the next great movement like today...
  • #8,091
  • Edited 7:33pm Dec 1, 2009 2:35pm | Edited 7:33pm
GU: This H1 chart shows price hit upper TL twice. And now, with about half an hour left on current candle, price is dropping well. I am going to be watching for SonicR method trade on M15. It could take a while, maybe not until FO/LO around 12 hours from now, but if a setup occurs, a good run south might result.

Edit: Added second chart showing trade..... Taking profit at Tp1 if price reaches it, because there might be a pullback in prep for FO/LO, and then another run down.
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  • #8,092
  • Edited Dec 2, 2009 1:21am Dec 1, 2009 7:41pm | Edited Dec 2, 2009 1:21am
EJ: Here is another one to keep an eye on. Note the high trade counts at the previous lows, and note the rising trade count currently. My guess, only a guess...let the market decide....is an upside break eventually.

Edit: Added second chert.....so much for guessing! Always let the market decide.
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  • #8,093
  • Edited 10:38pm Dec 1, 2009 10:27pm | Edited 10:38pm
Hey guys,
I was just curious on your guys opinion. Below is the H1 GU and i drew a trendline from the HH followed by the next LH, but my question is this

To my knowledge S&R lines exist where there are a high amount of sellers and buyers waiting at certain levles (round numbers seem most comon). So why is it that these slanted trendlines seem to be almost as accurate as S&R lines? The slanted line is not a certain level of price where there are more buyers/sellers? Or is it the fact that millions of traders out there drew the same line and all react to it the same

If i do not make sense i understand :/
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  • #8,094
  • Dec 1, 2009 10:54pm Dec 1, 2009 10:54pm
SL: 1.6625
EP:1.6583
TP1: 1.6555
TP2: 1.6533

would love some feedback

Tyler
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  • #8,095
  • Dec 1, 2009 11:25pm Dec 1, 2009 11:25pm
Interesting price action strategy here. It seems to me that this type of strategy is becoming more and more popular, and with good reason.

I wonder if this would be effective at longer timeframes, though. Has anyone tried it at H1?
  • #8,096
  • Dec 2, 2009 12:34am Dec 2, 2009 12:34am
Quoting DGC
Interesting price action strategy here. It seems to me that this type of strategy is becoming more and more popular, and with good reason.

I wonder if this would be effective at longer timeframes, though. Has anyone tried it at H1?
DGC,,first of all..u have my respect for your contribution in OZFX…

As for your question..I think some might have tried in higher TF…

As for the way I trade..i used Sonic R in M15…

We are profitable as we are based on price rather than solely on lagging indicators... and our proper money management...

Sonic
  • #8,097
  • Dec 2, 2009 1:32am Dec 2, 2009 1:32am
EJ: Trade running from earlier setup....
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  • #8,098
  • Dec 2, 2009 1:40am Dec 2, 2009 1:40am
Quoting traderathome
GU: This H1 chart shows price hit upper TL twice. And now, with about half an hour left on current candle, price is dropping well. I am going to be watching for SonicR method trade on M15. It could take a while, maybe not until FO/LO around 12 hours from now, but if a setup occurs, a good run south might result.

Edit: Added second chart showing trade..... Taking profit at Tp1 if price reaches it, because there might be a pullback in prep for FO/LO, and then another run down.
Since price move did not take place until recently, and still has not reached Tp1, am still in trade and have added Tp2.
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  • #8,099
  • Edited 2:05am Dec 2, 2009 1:53am | Edited 2:05am
Quoting traderathome
Since price move did not take place until recently, and still has not reached Tp1, am still in trade and have added Tp2.
This is the pullup before FO/LO....so those big boys can enter higher and start shorting. (Just speculation) If I had set Tp1 closer then I could have already taken profit, waited for the pullup, and re-entered higher again......live and learn.

Edit: Added middle Tp....a likely area for one.
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  • #8,100
  • Dec 2, 2009 2:03am Dec 2, 2009 2:03am
Quoting traderathome
Since price move did not take place until recently, and still has not reached Tp1, am still in trade and have added Tp2.
careful... GU may rebound as Now I see big vol..Manage it well..
BTW..nice entry on ur short...

Sonic
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