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Sonic R. System

  • #8,621
  • Dec 14, 2009 12:25pm Dec 14, 2009 12:25pm
Quoting ddaytrader
I wouldn't even trade it in a demo account
So as a rule.... a lower high null and voids the set-up?
  • #8,622
  • Dec 14, 2009 12:28pm Dec 14, 2009 12:28pm
Quoting PabloOnFX
So as a rule.... a lower high null and voids the set-up?
I didn't say that, and you didn't ask that.

Look at the GU. My second trade was EP at nearly the same as the first EP, and after a GU had made a high much higher than my EP's.

It is all about waves. There are no real waves occurring after the EJ high. It is all sideways.
  • #8,623
  • Dec 14, 2009 12:44pm Dec 14, 2009 12:44pm
Quoting ddaytrader
I didn't say that, and you didn't ask that.

Look at the GU. My second trade was EP at nearly the same as the first EP, and after a GU had made a high much higher than my EP's.

It is all about waves. There are no real waves occurring after the EJ high. It is all sideways.

It was meant as you've explained. Your GU trade has gone into my notebook. The rule was to flush out any misunderstanding.
  • #8,624
  • Dec 14, 2009 12:45pm Dec 14, 2009 12:45pm
DD , can you pls try to explain what in the waves you did not like .
Tks
David
Quoting ddaytrader
No, I didn't like the waves.




I wouldn't even have noticed that trendline, I would not have drawn that trendline, or considered that trendline at all. I trade S/R and waves only.
  • #8,625
  • Dec 14, 2009 1:12pm Dec 14, 2009 1:12pm
Quoting david4u
DD , can you pls try to explain what in the waves you did not like .
Tks
David
Choppy, choppy, choppy ... the best "rule of thumb" I can suggest is shown in the chart below. If you can easily draw a line through the waves that goes through most of the bars, then you might not have a good set of waves to trade.

I'm done for the night, Sonikers.
Attached Image (click to enlarge)
Click to Enlarge Name: Choppy Waves1.jpg Size: 104 KB
  • #8,626
  • Dec 14, 2009 1:17pm Dec 14, 2009 1:17pm
DD
at the beggining I assume you marked the 1st H as a possible future EP .
The price retarced bellow the dragon and make a LH above the dragon .
Looking at your chart ...you actually do not take into consideration the previous H ("1st") , and start the wave again "from the beggining" ?
Entering before the prev. H (which is not far away) is not a concern ?
Tks
David
Attached Image (click to enlarge)
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  • #8,627
  • Dec 14, 2009 1:26pm Dec 14, 2009 1:26pm
Quoting david4u
DD
at the beggining I assume you marked the 1st H as a possible future EP .
The price retarced bellow the dragon and make a LH above the dragon .
Looking at your chart ...you actually do not take into consideration the previous H ("1st") , and start the wave again "from the beggining" ?
Entering before the prev. H (which is not far away) is not a concern ?
Tks
David
David as DD gone for the day ...

I believe the 1st refers to his first trade of the day. It turned against him and he closed it a BE. Later GU set-up again and DD re-entered.

Pablo
  • #8,628
  • Dec 14, 2009 1:32pm Dec 14, 2009 1:32pm
I m reading all posts of new commers and feeling well ,,,,i wanna just share my personnel analiysing which i did morning and decided to no trading today, here is the pic .....ranging market feel free and comments, well DD u r really working hard good keep going

Muhammad
Attached Image (click to enlarge)
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FxHome
  • #8,629
  • Dec 14, 2009 1:37pm Dec 14, 2009 1:37pm
EJ M15 and H4: With asian session next, EJ is the prime trading candidate. Based upon the most recent behaviour of price around the S&R area (M15 orange line) and the overall downward trend (upper left to lower right on both charts), it is entirely possible we will see a peek-a-boo up and then a run back down and out of the Dragon.....a move south. Anyway, all is quite "neutral" looking, and the whips have resulted in no trend continuation or reversal.....and this is all going on this way TOO LONG, imho. Conclusion: I am looking for a break, either way, but I have a bias (my bad) and it is southward.
Attached Image(s) (click to enlarge)
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  • #8,630
  • Dec 14, 2009 1:57pm Dec 14, 2009 1:57pm
GU M15 and H4: Trend is down (H4) with the recent ranging price action being consolidation (the big boys setting up for the next run). So, even though the M15 has a positive look, for me the price would have to break the upper TL to go long. And I more than half expect it to break the lower TL. Anyway, we trade what we see.
Attached Image(s) (click to enlarge)
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  • #8,631
  • Dec 14, 2009 2:13pm Dec 14, 2009 2:13pm
i'm thinking the g/y will test 145 then retrace. the u/j is setting up for a long.
  • #8,632
  • Dec 14, 2009 2:18pm Dec 14, 2009 2:18pm
Quoting sed34
i'm thinking the g/y will test 145 then retrace. the u/j is setting up for a long.
SonicR Thread Rule #1:

No Picture No Post
  • #8,633
  • Dec 14, 2009 2:24pm Dec 14, 2009 2:24pm
Quoting sed34
i'm thinking the g/y will test 145 then retrace. the u/j is setting up for a long.
UJ M15 and Daily: Daily chart shows trend is down, and with multiple TLs overhead. M15 is sideways and if it breaks, it could go either way. But, like the EJ, and because of the trend down on the UJ Daily chart, imho it could head fake up and then reverse and give a true move down. Anyway, we trade what we see.
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  • #8,634
  • Edited 2:58pm Dec 14, 2009 2:28pm | Edited 2:58pm
Quoting david4u
DD
at the beggining I assume you marked the 1st H as a possible future EP .
The price retarced bellow the dragon and make a LH above the dragon .
Looking at your chart ...you actually do not take into consideration the previous H ("1st") , and start the wave again "from the beggining" ?
Entering before the prev. H (which is not far away) is not a concern ?
Tks
David

David,

Instead of just questions you should start to try to figure out an answer also. Then post your question and your answer, and then other Sonikers and I can comment on your answer.

You will not learn to trade or read price unless a you perform a substantial amount of the heavy lifting on your own. For example you ask me why the high you mark as "1st" wasn't a concern. Well, instead of asking me to tell you why, next time why not give it some thought and at least try to post an answer yourself. Even if you do not come up with the answer I would give, the act of thinking a problem through can only help you as you gain experience.

Anyway, here is another pic of my GU chart. I clarify my entry points for you. I have a good buddy who talks abou the market hitting the "reset button." What he means is price action has done something that allows him to see a new set up rather than the set up he was working. So I call this a SonicReset - it means price has traveled from above the dragon to below the dragon or vice versa. That lets me reset my High/Low count.

Questions are great, but a mind is a terrible thing to waste. We need more thinking here, and less spoon feeding.
Attached Image (click to enlarge)
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  • #8,635
  • Dec 14, 2009 2:31pm Dec 14, 2009 2:31pm
Quoting ddaytrader
SonicR Thread Rule #1:

No Picture No Post
my mistake. i will post a chart next time.
  • #8,636
  • Dec 14, 2009 2:33pm Dec 14, 2009 2:33pm
Quoting traderathome
GU M15 and H4: Trend is down (H4) with the recent ranging price action being consolidation (the big boys setting up for the next run). So, even though the M15 has a positive look, for me the price would have to break the upper TL to go long. And I more than half expect it to break the lower TL. Anyway, we trade what we see.
Hi Tah.

I got long at 1.6255 on a SonicR M15 this morning. I closed half, and I was going to close the other half at the NY close, but I decided to keep it open just in case this thing does break to the upside. I've been bearish bias myself on this pair, but I never let my bias keep from trading what I see. I agree with you - that trendline is an important level, and if the bull side is the right side, that level must break.
  • #8,637
  • Dec 14, 2009 2:34pm Dec 14, 2009 2:34pm
Quoting sed34
my mistake. i will post a chart next time.
Thanks! Looking forward to it!
  • #8,638
  • Dec 14, 2009 2:50pm Dec 14, 2009 2:50pm
Hey Sonikers,

Just finished reading the thread for what I have missed.
Seemed like a boring day, except GU. I made two trades
today: G/U and E/U, but did not had a chance to post it
since I am in my exam week. (last week of exams before
the Winter holidays) My G/U entry was above the first
ddaytrader's entry with SL below the Support. Target reached,
TP @ BE. My E/U trade was triggered later, but price returned
to the small range upward channel, if I may, and continued to
'be boring'. So I took -6 pip loss.

P.S. Seems like this thread is getting very active I like that, and
without ddaytrader's constant valuable input it wouldn't be this way.
Good job all! Seems like we will have a lot of perspective traders here.
Attached Image(s) (click to enlarge)
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cut losses short, let profits run.
  • #8,639
  • Dec 14, 2009 4:33pm Dec 14, 2009 4:33pm
EJ how would this EP look to you guys

any comments
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"The person who knows that enough is enough, will always have enough". .
  • #8,640
  • Dec 14, 2009 4:49pm Dec 14, 2009 4:49pm
Quoting maq
EJ how would this EP look to you guys

any comments
Possible answer to your question. I can see that you are using ZigZag.
Sometimes ZigZag indicator just deceives and misses important
waves. I don't use it. Check the picture.
Attached Image (click to enlarge)
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cut losses short, let profits run.
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