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Sonic R. System

  • #11,621
  • Apr 6, 2010 6:42pm Apr 6, 2010 6:42pm
Quoting Domas4
USD/JPY:
Let's see if this will give us some pips today/tomorrow. Price is @ Resistance.
See if it holds. WATCH FOR WAVES! THEY WILL BETRAY THE DIRECTION
OF WHERE THE PRICE WANTS TO GO!
Domas4, thank you for this "Heads up!" BTW, those chart colors are much easier on the eyes than the previous red/green. (Alas, but still white backgrounds are best of all for thread postings.)

I have marked S&R a bit lower, at the eighth number, and have attached M30 chart that pulls it all into the picture.
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  • #11,622
  • Apr 6, 2010 7:17pm Apr 6, 2010 7:17pm
UJ:

Experimenting with DDaytraders addendum to SonicR....first an early entry when price bounces from signifcant S&R.....entered long as shown in chart. Color convention: EP=black, SL=red, TP=blue. SL, currently below the half number, will be raised ASAP to BE+ when price accomdates. There is no EP, nor TP, until we get a SonicR entry.
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  • #11,623
  • Apr 6, 2010 7:20pm Apr 6, 2010 7:20pm
EJ:

Experimenting with DDaytraders addendum to SonicR....first an early entry when price bounces from signifcant S&R.....entered long as shown in chart. Color convention: EP=black, SL=red, TP=blue. SL, currently below eighth number, will be raised ASAP to BE+ when price accomdates. There is no EP, nor TP, until we get a SonicR entry.
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  • #11,624
  • Apr 6, 2010 7:27pm Apr 6, 2010 7:27pm
Quoting traderathome
Where do we go? How do we start?
You need to open a futures trading account with a futures broker. There are many out there - Mirus Futures, Interactive Brokers, Infinity Futures, and Open eCry are four that seem to get good reviews. I do not want to recommend any single one. You can trade 6E futures which is the EU, the 6B which is the GU, the 6J which is like the UJ but it trades "upside down", i.e. it is a JU so it when UJ goes up, 6J goes down and vice versa, the 6A is the AU and the 6C is the UCAD and the 6S is the UCHF. The cross rate futures are not yet liquid enough to trade, so I stick to the majors. I mostly trade the 6E and the 6B (EU and GU respectively). These are traded on an exchange - prices are public, spreads are set by the market, not by your broker. I have been very happy trading futures and will never go back to spot. Ever.
  • #11,625
  • Apr 6, 2010 7:48pm Apr 6, 2010 7:48pm
Quoting ddaytrader
You need to open a futures trading account with a futures broker. There are many out there - Mirus Futures, Interactive Brokers, Infinity Futures, and Open eCry are four that seem to get good reviews. I do not want to recommend any single one. You can trade 6E futures which is the EU, the 6B which is the GU, the 6J which is like the UJ but it trades "upside down", i.e. it is a JU so it when UJ goes up, 6J goes down and vice versa, the 6A is the AU and the 6C is the UCAD and the 6S is the UCHF. The cross rate futures are not yet liquid enough to...
Thank you for your quick reply, DDaytrader.

It seems then, one by one I should "scout" the sites of these futures brokers, choose one to do a demo download, and start getting familiar with futures trading.

Please post again, if you heartedly recommend where to demo start.
  • #11,626
  • Edited 8:24pm Apr 6, 2010 7:58pm | Edited 8:24pm
Here are some thoughts on an early entry compliment to a possible later SonicR trade. When examining the larger TFs to determine if the price is indeed bouncing at a significant S&R level, or not, also take note of when in the session this is taking place.

Bounces at significant S&R can later turn out to be double bounces. And when the first bounce takes place may increase the odds of a double bounce. For example, if the bounce is in the asian session, the FO/LO session could cause another, or at least by the US part of the session. We have seen this happen time and again. And the reason to be concerned about a double bounce is, what it you enter a SonicR setup after the first bounce, and then price goes back down to bounce again?

This is why Sonic rarely trades in the asian session. So, be aware of when the first bounce happens. If it is in non-SonicR trading hours, then don't just willy nilly enter the first SonicR setup that may appear afterwards, but prior to approved SonicR trading hours.
  • #11,627
  • Apr 6, 2010 8:28pm Apr 6, 2010 8:28pm
Quoting Basber
I recommend to stay just on sonicr entries. These blind entries need special skills (not complicated, just need experience).

And another thing RM. DD put his SL 5-10 pips. Blind entries should have a very tight SL, not that wide ...

Anyway, it's just my opinion

Regards,
Basber

Basber, it was not a blind entry on GU.

The entry failed but it came back to where I thought it would and I got out with + 60 pips.
Starting to see instead of just looking.
  • #11,628
  • Apr 6, 2010 8:29pm Apr 6, 2010 8:29pm
Yeah, T

I am short on EU.
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Starting to see instead of just looking.
  • #11,629
  • Apr 6, 2010 8:31pm Apr 6, 2010 8:31pm
Quoting traderathome
Thank you for your quick reply, DDaytrader.

It seems then, one by one I should "scout" the sites of these futures brokers, choose one to do a demo download, and start getting familiar with futures trading.

Please post again, if you heartedly recommend where to demo start.

I use ninjatrader platform and you can download a free 30 day demo from their website. You can also get a ninjatrader demo from a participating broker. Check into some brokers, make some calls, find out about commissions, ect, and then when you have a broker you feel you might be comfortable with request a demo account.

www.ninjatrader.com
  • #11,630
  • Apr 6, 2010 8:51pm Apr 6, 2010 8:51pm
EJ and UJ Early Entry Trades:

Both closed. Asian session is not noted for sustained runs. So, my thinking is to take profit after a decent run up, wait for a possible pullback, and see how things look then.....possibly a SonicR by then or another S&R bounce entry, shortly followed by a SonicR.
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  • #11,631
  • Apr 6, 2010 9:10pm Apr 6, 2010 9:10pm
Quoting traderathome
EJ:

Experimenting with DDaytraders addendum to SonicR....first an early entry when price bounces from signifcant S&R.....entered long as shown in chart. Color convention: EP=black, SL=red, TP=blue. SL, currently below eighth number, will be raised ASAP to BE+ when price accommodates. There is no EP, nor TP, until we get a SonicR entry.
EJ was a perfect set up, TAH. The only thing I'd suggest is that you should still have profit targets in mind, as sometimes you do not get a SonicR - you get a blast off with no HL pullback before an outright reversal.

Here are some notes I worked up to show why I really like this EJ set up. The real key is that price tested support, and then rallied a bit, and then it tested support a second time, actually breaking the first low, and then reversing.

Good trade!
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  • #11,632
  • Apr 6, 2010 10:47pm Apr 6, 2010 10:47pm
Quoting ddaytrader
EJ was a perfect set up, TAH. The only thing I'd suggest is that you should still have profit targets in mind, as sometimes you do not get a SonicR - you get a blast off with no HL pullback before an outright reversal.

Here are some notes I worked up to show why I really like this EJ set up. The real key is that price tested support, and then rallied a bit, and then it tested support a second time, actually breaking the first low, and then reversing.

Good trade!
DDaytrader, I really was not sure where to place a target for the early entries, other than at a key level near a most recent signifcant high. So, as it turned out, I cut myself short about 20 pips on one and about 35 pips on the other. But, how can you know.....that is the nature of the beast, no? So, now I look for a pullback, see if it coincides with a support area, and weigh whether or not to re-enter early or wait for a SonicR.

I am really enjoying your posts, ddaytrader. I am sure we all are. Thank you for them:
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  • #11,633
  • Edited 11:13pm Apr 6, 2010 10:54pm | Edited 11:13pm
Quoting Rastaman
Yeah, T

I am short on EU.
Rastaman, I am now also looking at this for a short. The asian session has played its all-too-familiar "upsy-downsy" game with this one. It may be over by now, but I am hoping one last spike towards the whole number for a short trade early entry. The attached chart shows what I am looking for. The thing is, which ever way a pair is most likely to move later in the sessio, there is always the possibility that between the FO/LO/US traders, one or more may put on a move in the opposite direction first. Based on this possibility and the likelyhood EU will go down eventually, I may get my high entry. Of course, it price is first driven up, it may be driven up even higher than my projected entry.
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  • #11,634
  • Apr 7, 2010 12:49am Apr 7, 2010 12:49am
Quoting traderathome
Rastaman, I am now also looking at this for a short. The asian session has played its all-too-familiar "upsy-downsy" game with this one. It may be over by now, but I am hoping one last spike towards the whole number for a short trade early entry. The attached chart shows what I am looking for. The thing is, which ever way a pair is most likely to move later in the sessio, there is always the possibility that between the FO/LO/US traders, one or more may put on a move in the opposite direction first. Based on this possibility and the likelyhood...
The longer I look at this, the more I see the possibility of some quick lows and then a run up today. It could go either way.
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  • #11,635
  • Apr 7, 2010 1:00am Apr 7, 2010 1:00am
EJ:

Early entry again. Price spiking down towards half number, but eighth above it was middle of previous range, and my long entry. Now, I am for a SonicR long entry later.
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  • #11,636
  • Apr 7, 2010 1:04am Apr 7, 2010 1:04am
EU:

Price was quickly dropped to area of previous support, and I made another early entry. I can well see price coming up and a SonicR long setup later. Still, it could go either way. I could get burned, so SL is tight.
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  • #11,637
  • Apr 7, 2010 1:30am Apr 7, 2010 1:30am
Just sold UJ

I like the S&R on M5 & indeed the breakout of the H1 box.
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Starting to see instead of just looking.
  • #11,638
  • Edited 1:57am Apr 7, 2010 1:36am | Edited 1:57am
Quoting Domas4
Bravou TAH!
When I am going to see you on Bloomberg TV as a market predictor, along with Peter Schiff, Marc Faber, Robert Prechter? :]

P.S. That's a perfect example that S&R works, and how wave patterns changes (see the HL) when PA hits S&R.

EDIT: Oh, and also bravo tulis with brave enter to E/U :]
EJ here is another example.....forecast only. But it is developing. We have the bounce off S&R, and the change in wave patterns to L-H-HL......only guessing at this stage where EP will turn out to be, of course.

In the case of the EU second example here, no higher lows and highs, but with multiple tags at the S&R, this could shoot up.
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  • #11,639
  • Edited 2:18am Apr 7, 2010 2:04am | Edited 2:18am
Quoting Rastaman
Just sold UJ

I like the S&R on M5 & indeed the breakout of the H1 box.
Be cautious, Rastaman. Watch for what the PA does at the 93.88 eighth level. It is a S&R area. What we could be seeing with the drop may be nothing more than a 50% pullback on this session run so far, for consolidation before more upside. I could be wrong, and I don't presume to tell you what to do. I am just sharing an afterthought that occurred to me.
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  • #11,640
  • Apr 7, 2010 2:16am Apr 7, 2010 2:16am
Quoting traderathome
Be cautious, Rastaman. Watch for what the PA does at the 93.88 eighth level. It is a S&R area.

I am thinking the 93.92 area is the breakout.
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Starting to see instead of just looking.
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