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Sonic R. System

  • #9,181
  • Jan 5, 2010 2:12pm Jan 5, 2010 2:12pm
AU Short Trade: Per attached chart. TL has been re-tested. Price has returned to Ep area.
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  • #9,182
  • Jan 5, 2010 2:24pm Jan 5, 2010 2:24pm
GU Possibilities: I exited my trade on this when price was half way down to Tp1 (should have staid the course). Anyway, I am looking for a re-test of the TL and a failure there. If it happens soon, it will occur in the previoius Ep area, and I will go short again there.
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  • #9,183
  • Jan 5, 2010 5:23pm Jan 5, 2010 5:23pm
Quoting sonicdeejay
Only 1 thing is i enter near a round number...1.440x
The rest let the mkt decide..

http://cdn.forexfactory.com/attachme...&stc=1&thumb=1

Sonic
Morning folks...

TP1 already hit and free ride right now..

Cheers...

Sonic
Attached Image (click to enlarge)
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  • #9,184
  • Jan 5, 2010 9:06pm Jan 5, 2010 9:06pm
AU Short Trade: I have removed SL, still in trade. Day chart shows spinning top that tested TL on high relative volume, failed and closed below the open. So far it looks to me like the upwards push today is "Custer's Last Stand", a series of small pushes up as traders sell/short in preparation of another run down on the Daily chart (speculation).

Price is climbing up beneath the TL. If price breaks away from the TL and develops new waves, then the FE may need revision. But so far the current FE still applies.
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  • #9,185
  • Edited 9:20pm Jan 5, 2010 9:07pm | Edited 9:20pm
TP2 hit @ 1.434x...

Sonic

(P.S I show my entry when I do and I show you how it turn out.How genuine do u want it???)

http://cdn.forexfactory.com/attachme...&stc=1&thumb=1
Attached Image (click to enlarge)
Click to Enlarge Name: shi.gif Size: 48 KB
  • #9,186
  • Edited 9:33pm Jan 5, 2010 9:20pm | Edited 9:33pm
Quoting sonicdeejay
TP2 hit @ 1.434x...

Sonic

(P.S I show my entry when I do and I show you how it turn out.Isn't that genuine???)

http://cdn.forexfactory.com/attachme...&stc=1&thumb=1
Nice trade, Sonicdeejay! And a good example of the SonicR method. Keep 'em coming!
  • #9,187
  • Edited 1:07am Jan 6, 2010 12:55am | Edited 1:07am
AU Short Trade (continued):

Price just broke down away from TL to former Ep area, on very high relative trading activity. FE is adjusted from previous configuration.
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  • #9,188
  • Jan 6, 2010 1:09am Jan 6, 2010 1:09am
I am new here and just download the pdf file. The author is for the book call trading for a living by alexander elder.
  • #9,189
  • Jan 6, 2010 1:12am Jan 6, 2010 1:12am
Quoting traderathome
AU Short Trade (continued):

Price just broke down away from TL to former Ep area, on very high relative trading activity. FE is adjusted from previous configuration.
I saw the pink big vol bar too...

Sonic
  • #9,190
  • Edited 1:30am Jan 6, 2010 1:20am | Edited 1:30am
Quoting sonicdeejay
I saw the pink big vol bar too...

Sonic
And EU dropped, while GU rose......most confusing. Multiple pairs were affected suddenly during a time hours between, or before next scheduled releases. I wonder what transpired.
  • #9,191
  • Jan 6, 2010 1:35am Jan 6, 2010 1:35am
Quoting traderathome
And EU dropped, while GU rose......most confusing. Multiple pairs were affected suddenly during a time hours between, or before next scheduled releases. I wonder what transpired.
http://www.forexfactory.com/news.php?do=news&id=214300
  • #9,192
  • Jan 6, 2010 1:40am Jan 6, 2010 1:40am
AU Short Trade (continued):

Price dashed down from TL to bottom of range on strong relative trading. On lighter trading, price has moved up to Ep zone again. Daily chart is doji/spinning top and down from TL.
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  • #9,193
  • Jan 6, 2010 1:49am Jan 6, 2010 1:49am
My EJ Trade Plan
Pablo
p.s. I still learning so if you want to point the less obvious out, please do so.
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  • #9,194
  • Edited 2:06am Jan 6, 2010 1:51am | Edited 2:06am
Quoting PabloOnFX
http://www.forexfactory.com/news.php?do=news&id=214300
Pablo, it doesn't make sense. Why would GU go up when EU went down? And why would the rumor that European Union will not bail out Greece affect a spike in GU and AU? Nope, it doesn't make any sense to me. Seems to me this is just another example of "news" being a trigger for responses that were forthcoming anyway....with or without news, but with it, regardless of content.
  • #9,195
  • Jan 6, 2010 2:01am Jan 6, 2010 2:01am
Quoting traderathome
Pablo, it doesn't make sense. Why would GU go up when EU went down? And why would the rumor that European Union will not bail out Greece affect a spike in GU and AU? Nope, it doesn't make any sense to me.
you missed some text off........and that why you don't trade the news but trade the resultant price action.

:-)
pablo
  • #9,196
  • Jan 6, 2010 2:15am Jan 6, 2010 2:15am
Quoting PabloOnFX
you missed some text off........and that why you don't trade the news but trade the resultant price action.

:-)
pablo
Yeah, the so called "story" was just some few facts stated. Not much of a story, and no background info to validate the stated correlation of facts. You are right, I do not trade news. In fact, I pretty much ignore news altogether. So called "news" and "releases" are important only so far as when they occur, not what they contain.
  • #9,197
  • Jan 6, 2010 4:53am Jan 6, 2010 4:53am
Dear Sonicers,
Please, explain me, why this setup did not work properly? It was stopped out.
This is because of NO TRADING from New York close till Tokyo open?
Thanks
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  • #9,198
  • Jan 6, 2010 4:54am Jan 6, 2010 4:54am
EU Long Trade Plan
Swing Reason = Major Bounce off 4hr Trendline.

DPV will act as a magnet so EP is just prior.
SL will be moved to BE as early as possible.

Note, there's no shame in being stopped out at BE and will look to reenter under the right conditions later.

Pablo
p.s. I'm still learning!
Attached Image (click to enlarge)
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  • #9,199
  • Jan 6, 2010 5:14am Jan 6, 2010 5:14am
Quoting zyga
Dear Sonicers,
Please, explain me, why this setup did not work properly? It was stopped out.
This is because of NO TRADING from New York close till Tokyo open?
Thanks
Attachment
Around the 1.6000 price level it will cause indecision in the market.

Pablo
  • #9,200
  • Jan 6, 2010 5:16am Jan 6, 2010 5:16am
Happy New Years Sonikers !

About, EU Long from Pablo, I think it is not a super entry because DPV is there just in front of EP and 1.440x could act as a strong resistance. More a bearish channel is in place on the 15 min (this can mean a bull flag on higher TF). I prefer a short setup
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