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Sonic R. System

  • #9,201
  • Jan 6, 2010 5:28am Jan 6, 2010 5:28am
Quoting pipoca
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
All good points but I'm following Waves 1st, Trendlines 2nd and there's many trendlines to watch.

And as I said no shame came of being stopped out at BE.

Pablo
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  • #9,202
  • Jan 6, 2010 5:32am Jan 6, 2010 5:32am
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
This is the trade i took. You need wait for the dragon to come into contact with your trades.

This picture might help you i think it was traderathome who made it. In your trade the dragon was not in play and the dragon.
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  • #9,203
  • Jan 6, 2010 5:41am Jan 6, 2010 5:41am
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

It has taken me 9 months to get here and i still have loads to learn. You will feel like giving up but remember practice is the key.
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  • #9,204
  • Jan 6, 2010 5:49am Jan 6, 2010 5:49am
Quoting pipoca
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

Pipoca, see Junemans last post (9202).
Now draw a trendline from top to bottom.
Would you take that second entry point?

Hence, Waves come 1st.
My EU Trade Plan will be making HH's HL's once I enter.
But nothings a certainty in FX.

Pablo
p.s. I'm still learning!
  • #9,205
  • Edited 7:48am Jan 6, 2010 7:35am | Edited 7:48am
I am newbie too, I believe practice is the key.
For the GU long I think better to wait for some new bullish waves.
I think to take the lows at 1.596x with a tight SL, it is not a sonic setup and it is a risky game to catch the lows. A break of the lows will be a continuation of the trend
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  • #9,206
  • Jan 6, 2010 7:50am Jan 6, 2010 7:50am
Quoting pipoca
I am newbie too, I believe practise is the key.
For the GU long I think better to wait for some new bullish waves.
I think to take the lows at 1.596x with a tight SL, it is not a sonic setup and it is a risky game to catch the lows. A break of the lows will a continuation of the trend
mmm, I think in catching Lows you are using Support, which is what SonicR is about.

As it is EU has now provided both Long and Short wave opportunities.

I typed this up this morning as a note to myself.............

Some waves are just too big to catch or ride – there'll be others.
Others are too small to carry you in – there'll be others.
Some are just downright tricky to catch – there'll be others.
So steady yourself to ride the next wave!


Waves come and go. Are never the same. Are seasonal
Around forever – there'll be others.


My Number 1 Rule:
On spotting a probable SonicR Swing Set-up, ask yourself this question...
What is significant enough to HAVE caused a Price Action Swing?


To answer this you'll need to plot …..

 

  1. 1hr & 4hr S&R's
  2. 1hr & 4hr Trendlines
  3. Pivot Points - Daily, Weekly, Monthly
  4. Fib Retracement Level – this is a tricky one and requires other confluence signals i.e. HH's or LL's.
  5. Major News - Big Numbers and remember its “HAVE caused a Price Action Swing”.

Otherwise, wait for a SonicR Continuation Set-up.

Hope it helps others too.

Pablo

  • #9,207
  • Jan 6, 2010 7:52am Jan 6, 2010 7:52am
Attachment
Quoting pipoca
I am newbie too, I believe practice is the key.
For the GU long I think better to wait for some new bullish waves.
I think to take the lows at 1.596x with a tight SL, it is not a sonic setup and it is a risky game to catch the lows. A break of the lows will be a continuation of the trend

This is how i would see your trade for a sonic R. But only if the following setup did happen.
Attached Image (click to enlarge)
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  • #9,208
  • Jan 6, 2010 7:54am Jan 6, 2010 7:54am
There was a sonic short on GU, some sonikers took it ?
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  • #9,209
  • Jan 6, 2010 8:03am Jan 6, 2010 8:03am
Quoting pipoca
There was a sonic short on GU, some sonikers took it ?
No i never took it. I like to see more of a wave a cross the dragon. The one thing that i said i would do this year is be more picky about my trades.
  • #9,210
  • Jan 6, 2010 8:04am Jan 6, 2010 8:04am
Quoting pipoca
There was a sonic short on GU, some sonikers took it ?
Pipoca,
1st Draw Horizontal lines on your chart and see why this might not work.
Pablo
  • #9,211
  • Jan 6, 2010 8:15am Jan 6, 2010 8:15am
I see now why nobody took gu short
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  • #9,212
  • Jan 6, 2010 9:16am Jan 6, 2010 9:16am
Quoting PabloOnFX
My EJ Trade Plan
Pablo
p.s. I still learning so if you want to point the less obvious out, please do so.
EJ TP1 Hit
I will manually force to TP2 to close at some stage

Pablo
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  • #9,213
  • Jan 6, 2010 9:37am Jan 6, 2010 9:37am
Quoting PabloOnFX
EJ TP1 Hit
I will manually force to TP2 to close at some stage

Pablo

Pablo where was your EP point? Here are my 2 trades on EJ from today.
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  • #9,214
  • Jan 6, 2010 9:46am Jan 6, 2010 9:46am
Sorry pablo i just looked back at your EJ plan and we did the same thing. I just couldnt understand your EP point but it makes sense when i looked back. Good trade
  • #9,215
  • Jan 6, 2010 10:16am Jan 6, 2010 10:16am
Trading EJ...? Be careful. This looks very much like a "Bear Flag/Channel".......(what the Bears send up to attract the Bulls!).
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  • #9,216
  • Jan 6, 2010 10:26am Jan 6, 2010 10:26am
Quoting PabloOnFX
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!
Suspecting the market couldn't resist having a go at 1.44xx
Moved to BE giving a 15 pip leeway.

Pablo
p.s. I'm still learning
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  • #9,217
  • Jan 6, 2010 10:27am Jan 6, 2010 10:27am
Quoting PabloOnFX
mmm, I think in catching Lows you are using Support, which is what SonicR is about.

As it is EU has now provided both Long and Short wave opportunities.

I typed this up this morning as a note to myself................
"Some waves are just too big to catch or ride – there'll be others.
Others are too small to carry you in – there'll be others.
Some are just downright tricky to catch – there'll be others.
So steady yourself to ride the next wave!" - Pablo

Amen, Pablo. Learning to find the right waves is a process......

Over at the lake, throw in a rock. The waves are beautiful, but to mild to ride. Walk over to the stream....lots of different waves there, big and small. But, alas, all too turbulent to ride. Now, walk down to the beach. Paddle on out and WAIT for the right series of rideable waves to roll in!
  • #9,218
  • Jan 6, 2010 10:38am Jan 6, 2010 10:38am
Quoting traderathome
"Some waves are just too big to catch or ride – there'll be others.
Others are too small to carry you in – there'll be others.
Some are just downright tricky to catch – there'll be others.
So steady yourself to ride the next wave!" - Pablo

[font=Arial]Amen, Pablo....
and as a casing point, could I catch that big GU wave.
No too big and fast for me.... but there'll be others :-)

Pablo
p.s. I'm still learning
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  • #9,219
  • Jan 6, 2010 10:48am Jan 6, 2010 10:48am
Quoting PabloOnFX
and as a casing point, could I catch that big GU wave.
No too big and fast for me.... but there'll be others :-)

Pablo
p.s. I'm still learning
Yes, and on M15 the trend is still down. And on H4 price failed three times on re-test of S&R banded area.
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  • #9,220
  • Jan 6, 2010 10:52am Jan 6, 2010 10:52am
EJ M5: It is going to be interesting to see what happens when "they" pull the rug out from under this.......
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