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Sonic R. System

  • #10,401
  • Mar 1, 2010 6:54am Mar 1, 2010 6:54am
Quoting snusnufreak
I'm out @ 1.3540 with 45 pips, don't want to be too greedy, however i still think it will reach the 1.3485 area. Let's see what will happen

well done! nice!
  • #10,402
  • Edited 7:30am Mar 1, 2010 7:07am | Edited 7:30am
EU. Out. Delayed closing. But US open might bring pullback. 91 pips profit. Had SL been automated, I would have been stopped out. This is another clear example of why not to enter Asian session trade for more than just the Asian session. If you enter early in Asian session, to be sure, if there is going to be a good run, there is high propbability of good pullback first by FO or LO, or both. So, as Sonic says, it is best to just wait and trade the LO session and on.

Edit: Second chart shows why this is a pullback area....previous area of resistance (currently support). Note that in this case the fib pivots turned out to be better than Day pivots. Choosing which to use is a mixed bag....one day one, another day the other, works best. It is why the ultimate decision should be based on the actual historical PA.
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  • #10,403
  • Mar 1, 2010 8:33am Mar 1, 2010 8:33am
UJ:

Possible upcoming trade opportunity.....short.

Edit: Revised TPs to extend lower.....more in line with avg. range.
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  • #10,404
  • Edited 9:31am Mar 1, 2010 9:20am | Edited 9:31am
UJ:

Spike in trading activity at the highs. Interesting thing about activity of current bar....... PA spiked down and back up on low activity. Since it moved back up, the trading has increased. So, (speculation) it looks like after the big dogs are finished up here, they could take it down with more commitment.

Edit: The second chart (again, M30 to better show trading activity) shows good trading interest with the price range here (inside the Dragon). Since this is all happening in a lower price range than for the previous high trading activity (at the very highs), it could mean a drop is upcoming (speculation). But keep in mind that even IF a drop is upcoming, higher PA can happen first.
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  • #10,405
  • Mar 1, 2010 9:42am Mar 1, 2010 9:42am
TAH, I PM'ed you, could you plz reply.

BTW, EUR reached the 1.3485-1.3465 area, from now on I'll be looking for buy opportunities
  • #10,406
  • Mar 1, 2010 9:50am Mar 1, 2010 9:50am
Quoting snusnufreak
TAH, I PM'ed you, could you plz reply.

BTW, EUR reached the 1.3485-1.3465 area, from now on I'll be looking for buy opportunities
Replied to PM, Snu.
  • #10,407
  • Mar 1, 2010 9:59am Mar 1, 2010 9:59am
UJ M5:

The declining interest on this pump up reminds me of what the big dogs did to EU on Friday.......and we see how THAT turned out.
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  • #10,408
  • Mar 1, 2010 10:12am Mar 1, 2010 10:12am
After i was stepped out for BE on UY, now he reached TP1 ...without me
  • #10,409
  • Edited 10:33am Mar 1, 2010 10:14am | Edited 10:33am
Quoting DanPa
After i was stepped out for BE on UY, now he reached TP1 ...without me
When the big dogs stop pumping and the trading activity increases again at highs.......then........
we wait for a nice short trade setup at higher prices, thanks to the big dogs. If we miss out on a trade in one direction, we can always look for a trade in the other direction.....sooner or later.

Edit: (Speculation out of boredom)....You realize, of course, the big dogs know this is in downtrend (H4) and are desiring to do more shorting at higher prices in preparation for another "nice" move down. But, in order to do this, they have to create the illusion of PA advancement upwards.....to fool others into trading long. That way, the big dogs can take the short side of those trades. And, when they are ready, they will pull the rug.....at the bottom the "longs" will capitulate, or be liquidated, (sell), allowing the big dog shorts to close (buy) for big profits. Warning: Speculation!

SonicR - Let the market decide.
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  • #10,410
  • Mar 1, 2010 10:44am Mar 1, 2010 10:44am
Quoting traderathome
UJ M5:

The declining interest on this pump up reminds me of what the big dogs did to EU on Friday.......and we see how THAT turned out.
Uncanny.......
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  • #10,411
  • Mar 1, 2010 11:11am Mar 1, 2010 11:11am
Quoting PabloOnFX
R,
When I look at this larger wave I see a Lower Low and and no new Higher High.
Hence, the larger wave doesn't suggest a new trend has begun!

Thats what I see.
Pablo
Right P.

It was indeed a rash trade in the sense that I was looking at the hammer on H4 and thought it would pop when I saw the HH on M15.

Possibly sometimes by drawing the wave as I think it will pop, I am sort of hypnotizing myself as to the 3rd wave already being completed.
Another Lesson learned.
Starting to see instead of just looking.
  • #10,412
  • Mar 1, 2010 11:35am Mar 1, 2010 11:35am
Quoting traderathome
When the big dogs stop pumping and the trading activity increases again at highs.

I say to let the big dogs eat, because if so, the puppies can eat crumb among their feet!

What do you think on cable?

Thank you
DanPA
  • #10,413
  • Mar 1, 2010 11:37am Mar 1, 2010 11:37am
Guys Pleas e review and your comments are most welcome,
H4 slightly & h1 UPWARD bias
EP 1.3525
SL 1.3450
TP 1.3565
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  • #10,414
  • Mar 1, 2010 11:40am Mar 1, 2010 11:40am
Quoting Rastaman
Right P.

It was indeed a rash trade in the sense that I was looking at the hammer on H4 and thought it would pop when I saw the HH on M15.

Possibly sometimes by drawing the wave as I think it will pop, I am sort of hypnotizing myself as to the 3rd wave already being completed.
Another Lesson learned.
That has been a huge problem for myself, Rastaman. And so far. the only two realizations that seem to help are: 1) try to ignore non-prime time wave action as it is happening, but is ok to encompass it in larger wave pattern as part of analyzing PA after FO/LO, and 2)prepare for prime time hours by having breakout levels (EPs) in both directions on charts, or neither!

Many a time I have missed sound 30-50 pip moves due to waiting for "my" move, the one my bias had me glued to.

This is a good discussion topic, which Sonic summarizes with "Let the market decide". And, he is referring to the prime time market. Not any other time.
  • #10,415
  • Mar 1, 2010 11:45am Mar 1, 2010 11:45am
Quoting DanPa
I say to let the big dogs eat, because if so, the puppies can eat crumb among their feet!

What do you think on cable?

Thank you
DanPA
A possible inverted Cup and Handle....over extended time (Day chart)
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  • #10,416
  • Mar 1, 2010 11:56am Mar 1, 2010 11:56am
Quoting ravin
Guys Pleas e review and your comments are most welcome,
H4 slightly & h1 UPWARD bias
EP 1.3525
SL 1.3450
TP 1.3565
So far, the best trading activity was that which took the price up in preparation for the drop. Snce then there is no evidence of similar activity at lows which might be an indication the big dogs are getting behind an upwards move.

And, I think if you are not very careful, you are going to eventually get killed trading on the M5.
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  • #10,417
  • Mar 1, 2010 11:56am Mar 1, 2010 11:56am
Quoting ravin
Guys Pleas e review and your comments are most welcome,
H4 slightly & h1 UPWARD bias
EP 1.3525
SL 1.3450
TP 1.3565
Come on man, for SonicR setups we look at M15 not M5 :]
cut losses short, let profits run.
  • #10,418
  • Mar 1, 2010 11:59am Mar 1, 2010 11:59am
Hope i can smile till hits TP

EP 1.0815
SL 1.0885
TP 1.0770
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  • #10,419
  • Mar 1, 2010 12:06pm Mar 1, 2010 12:06pm
Quoting ravin
Hope i can smile till hits TP

EP 1.0815
SL 1.0885
TP 1.0770
Ravin, I agree with Domas4. I'll go a step further and suggest to you that the trades you post be those on the M15 out of respect for Sonic, his SonicR method, and the rest of the good folks here, like yourself, learning to be profitable with with it.

Thank you.
  • #10,420
  • Mar 1, 2010 12:25pm Mar 1, 2010 12:25pm
Quoting traderathome
That has been a huge problem for myself, Rastaman....

Yes, TAH

The fact that we draw the wave is probably the actual culprit in solidifying our opinion in one direction Bull or Bear.
It is a strong conscious act which can devoid us of impartiality.
Perhaps we should always draw two waves just to prevent the mental bias.

I am just reading Jesse Livermore's comment about, "There is only one side to the market and it is not the Bull nor the Bear side but, the Right Side".
How fitting it seems that I read that today, even though I have of course heard it many times, I never really knew where it came from.
Starting to see instead of just looking.
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