Sonic R. System

Any thoughts on this EJ setup.

This is where I lose my virginity.

GU Short Trade:

Price was whipped back up to test a S&R area, which may turn out acting as resistance. We have to see what PA the London open brings. This is the previous EP area for the short trade. But, as an asian session trade, you never can be confident how far it will run, nor if the FO/LO traders will carry out the move. The whip up may enable the FO/LO traders to short at higher prices, or, it may represent the beginnings of a run in the long direction. I have hung on to my original short trade because I felt more downside is to come. And it may. But mieanwhile, I missed a good long trade Thursday-Friday. And, for all I know now, another long trade may be brewing.

Edit: London open is just minutes away and price has been wihipped up to the main pivot. Not long now until we see what we will see. This kind of whipsawing during the transition from asian session to FO/LO is why I recommend the SL on any asian session trade be moved to BE+ ASAP, and count on only 20-40 pips before it gets dicey. I had a chance at about 50 pips last Thursday, and did not take my own advice......a word to the wise!

Morning Sonikers,

GU 4hr Chart - made the 127% Fib Ext on the last push down.
The chart shows no clear direction IMHO, could go eitherway.
The trendlines might provide a clue once the PA reacts to them.

Pablo

Two clues are the facts that the FO gang ran the price up fast. And the LO gang followed with the same move. If they were going for a session run up they would have kept it low and taken on long positions over time down there in preparation for an eventual big move up. Since they quickly moved it up, it is more likely they did so to take on high positions for an eventual bigger move down later in the session. At least this seems logical. But as always....

.....let the market decide.

took another 2 trades...hope i am not wrong...

Hi DanPa,

Using Trailing Stop Usually Have No Logic Behind It, Because It's Just a Number. It You Wanna Trail, Trail It Manually, Means Of Price Made Another Swing, You Can Put You SL Above/Below Of The High/Low Of The Last Swing.

Regards,
Basber

DanPa, please when posting, put your EP area, Target(s) area(s) and SL on your charts. Look back thru thread and see how others are doing this. Otherwise, your posting/charts is not very informative or illustrative for the rest. Thank you.

Still holding this EJ Long order.

I am looking at this wave like this, the 38.2 fibo has been holding and the reason seems to be that it is the right shoulder of a RH&S which also shows up on H1 & H4.

The H&S apart, the wave interests me.

Thank you Basber, and TAH..;i will do my best for the next trades;

Cheers

DanPa

Because it is Monday, on cad... i took +11 on half...i have now sl be..so, again..(maybe i am scared) it is a free trade...

please, dont be mad on me if i am wrong! i am learning!

DanPA

Rastaman, last week I tricked myself into believing something using fibs. It may happen, but it cost me time, which means money, because I am still waiting. So, it is in the spirit of that mistake I made, that I post this chart. Sometimes fibs are areas of consolidation, and failure of price to move thru it, or fail at it become moot points. The big players are using the area to prepare for the next run. Which way? Who knows. But look at the chart I posted. I am not saying that it will drop. But, you know, sometimes the trend is just getting started.

All I am asking is that if you are going to post charts, then put the stuff on the charts that the SonicR method requires....EP, TPs and SL. Thank you.

I hear you T.

However that is EU, this is EJ.

I am watching the fibo and pa is making its way to test the 50, if it breaks the 50 and makes its was convincingly towards the 61.8, I may see a setup form on the dragon. That is all I am waiting for and I have a reason to think it may occur around the 123.10 area.

GU:

Today is a holiday for US stock market and banks. I wonder how much movement there will be today. London has been open for almost three hours and all they have done is pump it briefly and then do their trading in a 15 pip range mostly, for over two hours. A larger range (tan rectangle) needs to be broken for a move in either direction. Just above it there is the mid-pivot resistance line....potentially a problem for an unside move. However, the main pivot is within the range, so if price breaks down, it has already made it down thru the main pivot....good for a downside move.

TAH, please, can you share your template ? it is much clear and obviously...
thank you..

about charts, i will share charts with related comments;

I might be able to post template and indys sometime later this week. I have been trying to decide on just how I want my chart(s), striving for simplicity. My mind is not fully made up yet. But you can achieve what is shown pretty much using the timplates I have already posted. Just delete what they have that you do not currently see me using. That is all there is to it.

GU:

Here is one reasonable conclusion of the current consolidation. It could go either way, but this is definately a possibility.

Hello Sonikers !
GU looks interesting for a possible short (TAH).
On dayly chart GU is in a bear flag. If this one broke its support there could be a move down.
But I believe today GU will stay in its bear flag (US market closed).

I propose short GU
EP 1.5661
SL 1.5693
TP1 1.5630 (still thinking about it) ?
TP2 1.5590

GU Long taken

Pablo

GU possible Short
EP 1.5661
SL 1.5693
TP 1 1.5635
TP 2 1.5590