Sonic R. System

Hey P,

I rather to see the market low beneath or at least inside the dragon ... So I will step aside with this setup ...

Regards,
Basber

Order for adding to short. Will tight the SL ASAP.

Regards,
Basber

Now the LL is in the dragon, do you agree with the setup ?

Edit : I think I did not understood ur remark

I should it's just my opinion and I don't mean it couldn't go down, at all.

But the thing I don't like about what you've mentioned is that you market the last LH (Lower High) as a high of a single bar. That's a very unreliable (and I may say wrong) way to mark a level a high. You should see a swing that makes a high, or low. I will not look for any trade on UJ today.

Regards,
Basber

Wonder what caused that hugh spike up on EU a minute ago. I was anticipating a short set up.

Looks like news did help your bias and did messed up my E/U sell. I temporarily removed my SL. If price hangs up there, I'll close it in loss.

Regards,
Basber

US news came up lower than expected...

Thx Basber, clearly understood. Yeap I am lucky on UJ, but I took EU short @ 1.2597 this morning and SL hit @ 1.2610.
With GU short : my order was not triggered thx to a good buffer in front of the stop order

Long EURUSD at 12639

cant post chart at the moment but will try to later!

we see a double top, who thinks about this situation

I took GY short @ 133.07, at this time UJ was hit by the news and severly down and GU was still at highs. Closed all now

There are two catagories of pivot indys; those that base pivots on the broker server, and those that can also caluclate pivots based on a different time from the broker server.

There are two formulas for pivots; the Daily formula yielding 3 levels above and below the central pivot, and the Fibonacci formula yielding 5 levels above and below the central pivot.

So, rilght there we have four possibilities! But broker servers are at different locations (different time zones), so that multiplies the possibilities more. And for time zone shifting indys, there are different time zones to shift to, which further multiplies the possibilities even more!

It is no wonder you see different pivots.

Sometimes I use Daily, sometimes Fibonacci, sometimes based on broker server, and sometimes shifted to GMT based calculations. Unless your broker is currently at GMT+3, your broker server based pivots will not agree with my broker server pivots. If you are using pivots shifted to the GMT time zone, then perhaps your Daily or Fibonacci pivots will agree with mine when I am using GMT based pivots.

The TzPivotsD_v3.5 (and TzPivotsMW_v3.5) are the most competent time shifting indys, which can also generate you broker based pivots. An upgrade in the works (soon as I have time). Also, there will be posted a SonicR TzPivots Indicator, hopefully soon. It is the TzPivotsD indy, streamlined for SonicR and improved. It is the one I am recently using (field testing, as it were....).

EU Watch:

H4 shows PA again in area of important S&R. M15 shows the quick drive up thru S&R by US traders, and with price now back down to the S&R level.

It remains to be seen what the euro session traders will do, and what kind of SonicR setup will occur, if any, as we get into approved trading hours.

Pivots shown are GMT based daily pivots.

I wonder if H4 PA is an inverted H&S, with 1.3000+ target? We have had good upside over past days, so if it is there still may be good pullback down beforehand.

WARNING: Speculation!

EU Watch:

Asian session trading now has PA down in yesterday's euro consolidation area; and almost a 50% pullback from the high measured from yesterday's low.

It stands to reason that euro traders won't just pound it down further, but will move PA back up to at least the highs of that consolidation area first.

Anyway, an up/down move is possible, and it may generate a SonicR entry during approved trading hours.

TAH:
Thanks a lot for such comprehensive answer!
Have a good day.

EU Watch:

This might be a time to throw on a FR study, Domas4 style, and see what kind of retrace the LO boys might give it. The FR 162% level on my chart aligns with a range bottom. Expand your chart to bring in more data, and that will become apparent. That is going to be my new TP1 on the short trade entered yesterday.

Edit: Added second chart with FR study adjusted to accomodate new low after LO. The 162% level is a bit lower, but aligns with previous consolidation of PA, and so still a good target. Now, to wait and see just what the LO traders do with the price.

EU Watch:

The first play by the LO traders was to continue the decline, down to an S&R level. From here they could put on the retrace move.

If they do, a 50% retrace would take PA back to the highs of the previous consolidation range, in the vacinity of the upper whole number 1.2600. If one were shorting this, that area, or even waiting to see if the 62% area is hit, might offer attractive short entry.

WARNING: Speculation! This is not recommendations, nor advice.

Edit: Watching the trading levels on lowest TFs, it is apparent traders are building long positions for the retrace run. That is why this is taking so long. That is the way I am seeing it. If this is the case, then the retrace run up will not just be a few pips, but more like 30+ I'd think before they cash out and go short. Again, this is entirely speculation.

EU Short Trade Closed:

I went ahead and closed yesterday's short for 20 pips profit as PA again tested the lows of yesterday's consolidation range. Volume is increasing the lower the price goes, so I read this as traders now favoring lows to buy for a retrace move up. Maybe they suspect the US traders are going to orchestrate another pump 'n dump, and they are going long at the lows to prepare to take advantage of such a move.

This is all speculation, so be warned.

Anyway, the short is closed for profit.

EU Watch, Long Trade Initiated:

Look at the most recent several M30 candles. You will see long wicks have switched to the bottom of the candles. Also look at the volume study (volume of trades, not volume of monies involved) and see that as the price has been driven down by traders, the volume has been increasing. The conclusion I am drawing from this is that the prof. traders have been driving the price down while going long; doing the heaviest trading at the lows causing the price to do mini rebounds on the way down. So it may be that they do suspect the US profs are going to execute just the opposite on a pump 'n dump move; selling on each new high as they drive the price up. Going long on this drive down gets these traders a low average price for their long position, which the US traders will make profitable when they drive prices up.

Ok, so that was a lot of speculation!

I have entered long; an early entry off of S&R....a tight SL and only one TP for now.

short position on a pair AU