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Sonic R. System

  • #9,581
  • Jan 20, 2010 3:38pm Jan 20, 2010 3:38pm
UJ:

With all the southbound carnage today, it would be refreshing to see something different. UJ held it's own very well throughout, and looks to be about to close the session above the open.

The M15 pic is a preliminary of a possible SonicR long trade. A FR is applied from last significant low to the high of the same run. PA then retraced to the 50%, and has since moved higher. Tp2 is about the distance of the monthly average for the daily range, above the current PA area (where it might open the new day).

The Daily pic shows a FR from last major low to high, with the past week being the retracement to the 38% level followed by a two day bounce.
Attached Image(s) (click to enlarge)
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  • #9,582
  • Jan 20, 2010 3:54pm Jan 20, 2010 3:54pm
Quoting riosworos
I will like to know if am doing it right....... I use finobachi extension to get my tp and i only take one tp .....pls sonickeers i need ur help
Welcome riosworos. Muhammad said it right. There are different ways to arrive at a Tp, but the way most Sonikers use, and the fundamental way, is to base it upon s/r levels.

The FE and the FR tool can also help confirm a good area for a Tp. I recommend that if you use any tools other than the s/r shown by the price chart (tools such as pivots, FE, or FR), you compare their results to the basic s/r levels. Look for confirmation. The M30 pic attached shows blue level areas drawn with the MT4 Rectangle tool, and aligned with proposed Tp1 and Tp2 of the preliminary trade setup posted above. You can see how they align with past PA areas of consolidation and s/r.
Attached Image (click to enlarge)
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  • #9,583
  • Jan 20, 2010 3:55pm Jan 20, 2010 3:55pm
TAH,
#12 and #14 means pages of this thread?
Thank you
  • #9,584
  • Jan 20, 2010 6:55pm Jan 20, 2010 6:55pm
GJ Trade Running:

Setup per M15 pic attached. Target is about the daily range away from current low of the session.

H4 pic shows FR. PA has been oscillating about the 50% level lately, with overall showing higher lows.
Attached Image(s) (click to enlarge)
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  • #9,585
  • Edited 9:10pm Jan 20, 2010 8:53pm | Edited 9:10pm
UJ Trade Running:

Setup posted earlier. Running per attached pic.
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  • #9,586
  • Jan 20, 2010 9:29pm Jan 20, 2010 9:29pm
Interesting EJ Chart:

Normally we do not get truely high trade counts (forex volume) during the startup of the asian session. But look at the spectacular spike when some trading outfit rammed the price back down to the weekly support area! I wonder if it was the same outfit that started the run down yesterday?

Talk about manipulation!

Apparantly some outfit was not going to be denied the opportunity to close out shorts and maybe put on long trades down there in the same area the rest of the market movers enjoyed during the later half of yesterday's session! So, they traded it down and up to do what they wanted!

Anyway, it speaks well for that support area as the possible launch pad for the next run up.
Attached Image(s) (click to enlarge)
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  • #9,587
  • Jan 21, 2010 12:09am Jan 21, 2010 12:09am
GJ and UJ Trades Progress:

GJ has been slow to open new ground upwards. But after a push down to the DP and back, PA has been moving up.

UJ is lighter on its feet, steadily covering new ground upwards. So Far.
Attached Image(s) (click to enlarge)
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  • #9,588
  • Jan 21, 2010 2:12am Jan 21, 2010 2:12am
Hello Sonikers !

I openned a short on GU ,
EP 1.6245
SL 1.6299
TP1 1.6200
TP2 1.6160
now I moved SL to BE

Remarks welcome !
Attached Image (click to enlarge)
Click to Enlarge Name: gu open short bis.gif Size: 53 KB
  • #9,589
  • Jan 21, 2010 2:27am Jan 21, 2010 2:27am
Quoting pipoca
Hello Sonikers !

I openned a short on GU ,
EP 1.6245
SL 1.6299
TP1 1.6200
TP2 1.6160
now I moved SL to BE

Remarks welcome !
Hi Pipoca,

Nothing wrong with the contination trade IMHO.

It has a high probablity of testing 1.6200 level and a bounce at that point
too.

At BE go and look for the next trade :-)

Pablo
  • #9,590
  • Jan 21, 2010 2:39am Jan 21, 2010 2:39am
UJ I openned long

EP 91.69
SL 91.43
TP1 92.00
TP2 92.66
Attached Image (click to enlarge)
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  • #9,591
  • Jan 21, 2010 2:47am Jan 21, 2010 2:47am
GJ: Trade stopped out.
Attached Image (click to enlarge)
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  • #9,592
  • Jan 21, 2010 2:48am Jan 21, 2010 2:48am
GU short TP1 hit !
Next tp at 1.6160
  • #9,593
  • Jan 21, 2010 3:40am Jan 21, 2010 3:40am
GU short TP2 Hit !
Thx Sonic !
  • #9,594
  • Jan 21, 2010 3:44am Jan 21, 2010 3:44am
Pipoca,
nice trade.

Enter EUR/USD
TP 1.4000
Attached Image (click to enlarge)
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  • #9,595
  • Jan 21, 2010 7:28am Jan 21, 2010 7:28am
I Closed UJ long at BE

EU short order pending
EP 1.4060
SL 1.4090
TP1 1.4028
TP2 1.3995
Remarks welcome !
Attached Image (click to enlarge)
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  • #9,596
  • Jan 21, 2010 7:36am Jan 21, 2010 7:36am
Quoting pipoca
I Closed UJ long at BE

EU short order pending
EP 1.4060
SL 1.4090
TP1 1.4028
TP2 1.3995
Remarks welcome !
Where is the Lower Low????

Pablo
  • #9,597
  • Jan 21, 2010 7:47am Jan 21, 2010 7:47am
I reversed my eu order now pending long
EP 1.4090
SL 1.4060
TP1 1.4120
TP2 1.4160

Thx Pablo I was focusing too much on the Dragon, I think I should stop trading now I am getting tired
Attached Image (click to enlarge)
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  • #9,598
  • Jan 21, 2010 7:58am Jan 21, 2010 7:58am
Quoting pipoca
I reversed my eu order now pending long
EP 1.4090
SL 1.4060
TP1 1.4120
TP2 1.4160

Thx Pablo I was focusing too much on the Dragon, I think I should stop trading now I am getting tired

I can see the logic in that set-up but I'm struggling to see something significant to reverse the general downtrend in the EU.
A bounce off the 1.4xx is the best I can analyse from the Higher Timeframes.

It all suggests a consolidation period is ahead.

Pablo
  • #9,599
  • Jan 21, 2010 3:13pm Jan 21, 2010 3:13pm
Today -> 2 trades, 2 SL. Later I will upload scr shots. In general I am disapointed
Peace, my friends
  • #9,600
  • Jan 21, 2010 9:26pm Jan 21, 2010 9:26pm
Quoting PabloOnFX
I can see the logic in that set-up but I'm struggling to see something significant to reverse the general downtrend in the EU.
A bounce off the 1.4xx is the best I can analyse from the Higher Timeframes.

It all suggests a consolidation period is ahead.

Pablo
EU:

I agree with Pablo. A period of consolidation now makes sense. See the attached Day Chart displaying a FR study from last significant low to most recent significant high, and also displaying the sma lines 50 (blue), 100 (red) and 200 (yellow). As you can see, PA retraced to the 50% level in FT study. Where to next? Who knows, hence consolidation meanwhile. While none of the sma lines have crossed down yet, they all are starting to point down. So based on this, even if consolidation ends with a run up, it might only be posturing for a bigger run down.
Attached Image (click to enlarge)
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