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Sonic R. System

  • #10,621
  • Mar 8, 2010 8:57am Mar 8, 2010 8:57am
Quoting traderathome
EJ Short Trade:

TP1 reached. Half of trade closed. If PA pulls up to EP area (or even mR1/ FE 62% level) before more downside, I'll likely put that half back into the trade.

Took +35 pips on that trade! THX TAH!!
  • #10,622
  • Mar 8, 2010 9:08am Mar 8, 2010 9:08am
Quoting tulis
This is my today treid +48 pips
Tulis, excellent, excellent trade! Congratulations!
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  • #10,623
  • Mar 8, 2010 9:41am Mar 8, 2010 9:41am
Quoting traderathome
EJ Short Trade:

TP1 reached. Half of trade closed. If PA pulls up to EP area (or even mR1/ FE 62% level) before more downside, I'll likely put that half back into the trade.

TAH, do you think we can short again here around 123.21 area on EY?
  • #10,624
  • Mar 8, 2010 9:45am Mar 8, 2010 9:45am
EJ Short Trade:

Added half back. Intend to lower SL to FE 79%+ level once PA below FE 100% level again.
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  • #10,625
  • Mar 8, 2010 9:53am Mar 8, 2010 9:53am
Quoting traderathome
EJ Short Trade:

Added half back. Intend to lower SL to FE 79%+ level once PA below FE 100% level again.

Right! Thanks! Short again 123.18!
  • #10,626
  • Edited 10:32am Mar 8, 2010 10:18am | Edited 10:32am
Quoting DanPa
Right! Thanks! Short again 123.18!
DanPa, I am hoping it will do this kind of number to close the session at the bottom of its 14 Day average range movement.

Edit: Note that trading is off at this current pullup. The Big Dogs may have found little liquidity up here for more shorting. If so, they have two choices: 1) keep it up here in hopes of others going long, so they can take the short side, or 2) proceed with the next leg down with what positions they have. Warning: Speculation!
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  • #10,627
  • Mar 8, 2010 11:06am Mar 8, 2010 11:06am
EJ Short Trade:

I am waiting for price to drop sufficient to move SL to BE+ on all. Should price drop, depending on how it looks, I may move TP2 lower. But, for now it looks like the PA is being supported. Maybe Big Dogs are striving for more postions before pulling the rug. They could even push it truely higher, shorting along the way, and let the asian traders next session wack it. Warning: Speculation!

SonicR - Let the market decide.
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  • #10,628
  • Mar 8, 2010 11:23am Mar 8, 2010 11:23am
EJ Short Trade:

Not knowing if there will be a good drive down in remainder of session, I have set new TPs. Intent is to close half again at new TP1 and see what happens with PA afterwards as regards second half of trade. I truely believe whatever low this session brings, the asian session will involve a pullup before any further progress down, and I want to be totally closed out before that happens so I can consider re-entering higher again. If the asian session simply continues it down, well, I can always just enter again.
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  • #10,629
  • Mar 8, 2010 11:31am Mar 8, 2010 11:31am
Quoting traderathome
DanPa, I am hoping it will do this kind of number to close the session at the bottom of its 14 Day average range movement.

Edit: Note that trading is off at this current pullup. The Big Dogs may have found little liquidity up here for more shorting. If so, they have two choices: 1) keep it up here in hopes of others going long, so they can take the short side, or 2) proceed with the next leg down with what positions they have. Warning: Speculation!
Took another +10 ... out...waiting for new enter in asia!
  • #10,630
  • Mar 8, 2010 11:57am Mar 8, 2010 11:57am
EU:

Price up testing SR area as resistance now. Might look for SonicR short setup new, or re-entry. Most likely Asian session will pull it up again, even if it drops in remainder of this session. Just an observation. Based on S&R in second chart, next move down might target the 1.3500 area.
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  • #10,631
  • Mar 8, 2010 3:17pm Mar 8, 2010 3:17pm
EJ:

PA dropping again. New FE and the 127% and 200% look good for targets. The 200% level is just below the 14 Day avg. range, but that might not matter. To not confuse, the red/blue/green lines on the chart are:

red = possible session high based on 14 day avg. range. As PA makes new lows, this will move down.

blue = Central Pivot, which is the same for Daily and Fib formulas.

green = possible session low based on 14 day avg. range. As PA makes new highs, this will move up.
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  • #10,632
  • Mar 8, 2010 3:27pm Mar 8, 2010 3:27pm
Quoting ravin
Hi folks,

I just put a sell stop around 3635 with TP 3595 SL 3700
It's better if you put your TPs before round numbers (I put 5-10 pips before it depending on price situation) and put you SL few pip beyond round numbers ...

In this case you could've took your profit @ 1.3610 and you could've put your SL @ 1.3710

R & R will be reduced, but your chance of success will rise ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #10,633
  • Mar 8, 2010 5:55pm Mar 8, 2010 5:55pm
Looks like GU just made a double bottom off of the DS1 at 1.4991 & 1.4992

We also have what looks like Tah's coffee mug with a handle.
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Starting to see instead of just looking.
  • #10,634
  • Mar 8, 2010 6:05pm Mar 8, 2010 6:05pm
Quoting traderathome
Tulis, excellent, excellent trade! Congratulations!
Yes, nice wave. Good Job Tulis
Starting to see instead of just looking.
  • #10,635
  • Edited 7:08pm Mar 8, 2010 6:31pm | Edited 7:08pm
EJ Short Trade:

New TP1 reached and again, half closed. SL lowered again and now to BE + profit on original half remaining. TP2 lowered again. 35 pips profit on first half closed. When added back, and now closed again, another 50 pips profit. Still have half of original trade running.

Edit: Since this might reach FE 162% before a pullup for the FO/LO traders, I am putting TP2 back up. I am also lowering SL to FE 100% level, building in sizeable profit even if hit. If TP2 reached and trade closed, if price pulls up nicely for FO/LO I will re-enter again. If TP2 not reached, and price pulls up nicely, then will add half again.
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  • #10,636
  • Mar 8, 2010 7:19pm Mar 8, 2010 7:19pm
Quoting traderathome
EJ Short Trade:

New TP1 reached and again, half closed. SL lowered again and now to BE + profit on original half remaining. TP2 lowered again. 35 pips profit on first half closed. When added back, and now closed again, another 50 pips profit. Still have half of original trade running.

Edit: Since this might reach FE 162% before a pullup for the FO/LO traders, I am putting TP2 back up. I am also lowering SL to FE 100% level, building in sizeable profit even if hit. If TP2 reached and trade closed, if price pulls up nicely for FO/LO I will...

TAH

I am wondering why you did not enter short at the arrow on the first move down. Also why is that EP not a Higher Low after the previous low?
Attached Image
Starting to see instead of just looking.
  • #10,637
  • Mar 8, 2010 7:59pm Mar 8, 2010 7:59pm
Quoting Rastaman
TAH

I am wondering why you did not enter short at the arrow on the first move down. Also why is that EP not a Higher Low after the previous low?
I think I was cat napping when that first opportunity hit. As for why is not my first EP a higher low....I guess because I am using a broader outlook on PA to designate H/Ls than I was when I marked that single candle as forming an EP.
  • #10,638
  • Edited 8:21pm Mar 8, 2010 8:09pm | Edited 8:21pm
Quoting traderathome
I think I was cat napping when that first opportunity hit. As for why is not my first EP a higher low....I guess because I am using a broader outlook on PA to designate H/Ls than I was when I marked that single candle as forming an EP.

That Higher Low confused me, it looks like you are taking a short at higher low. Actually T, this reply confuses me even more.
How is it that a single candle can form an EP when we are trading the waves off the H L LH LL?

Maybe I am thick or studying too much. either is quite possible.


According to the H L LH LL theory & this chart, shouldn't the Green line have been the EP?

Just trying to get my head around this EP for future reference.
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Starting to see instead of just looking.
  • #10,639
  • Mar 8, 2010 8:34pm Mar 8, 2010 8:34pm
Quoting Rastaman
That Higher Low confused me, it looks like you are taking a short at higher low. Actually T, this reply confuses me even more.
How is it that a single candle can form an EP when we are trading the waves off the H L LH LL?

Maybe I am thick or studying too much. either is quite possible.


According to the H L LH LL theory & this chart, shouldn't the Green line have been the EP?

Just trying to get my head around this EP for future reference.
Well, if you want to split hairs, then look at the orange lines. That is actually what was going thru my head when I assigned my EP.....twice PA dorpped out of Dragon, only to be stopped short and pumped back up. So, I considered a failure later at that level was valid EP. And thru it all, I kept the broader (yellow) picture of Wave.
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  • #10,640
  • Mar 8, 2010 8:48pm Mar 8, 2010 8:48pm
Quoting traderathome
Well, if you want to split hairs, then look at the orange lines. That is actually what was going thru my head when I assigned my EP.....twice PA dorpped out of Dragon, only to be stopped short and pumped back up. So, I considered a failure later at that level was valid EP. And thru it all, I kept the broader (yellow) picture of Wave.



Now, I see that the EP area became a PPZ, which broke and you entered based on that. It was impossible to understand this from the chart and thus I asked about it. Not splitting hairs at all T!
Attached Image
Starting to see instead of just looking.
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