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Sonic R. System

  • #13,321
  • Edited 6:26am Jul 12, 2010 6:15am | Edited 6:26am
UJ:

PA hit "target zone" twice, but no penetration, and now pulling back.

Since range today is a meager 62, surely this has more to go. Today could be a range breaking day. What is the "normal" range for UJ, about 100 pips? The FR 100% level would be a 83 pip run down. The FR 162% level (a prime hit level) would be a 109 pip run down.
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  • #13,322
  • Jul 12, 2010 6:41am Jul 12, 2010 6:41am
What do more experienced sonic traders think of this trade I'm currently in?

Idicators said yes. But, it was counter 1H bias and the wave pattern didn't say yes. I took it because of it's middle position in the shi channel, looked like it has room to move up. Because of the two things against the rules I just used very small lot size.
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  • #13,323
  • Jul 12, 2010 6:48am Jul 12, 2010 6:48am
EU Long Trade Update:

Price is undergoing consolidation after bouncing at the half number. Consolidation means the profs are jockeying for improved positions in advance of where they next see it going. Likely "up" in this case.

The fly in the ointment is the US open. These prof traders might like to grab some lower for themselves, and therefore drive it down while doing so. Due to this possibility, the SL is only a mental SL, at least until the dust settles again.

I think it is time I added this.....

WARNING: Speculation!
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  • #13,324
  • Edited 7:14am Jul 12, 2010 7:04am | Edited 7:14am
Quoting KumoDragon
What do more experienced sonic traders think of this trade I'm currently in?

Idicators said yes. But, it was counter 1H bias and the wave pattern didn't say yes. I took it because of it's middle position in the shi channel, looked like it has room to move up. Because of the two things against the rules I just used very small lot size.
True, no L-H-HL yet, but don't feel bad about the "counter H1" item. Look at H4 = bullish engulfing candle, .....exactly one of the two kinds Sonicdeejay lists!!!!!!!!

M15 shows what I think are your settings....maybe a bit clearer for others on my chart. BTW, good trade volume bouncing off half number support and going into the SonicR long setup. This should be a good one. Congratulations, KumoDragon!
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  • #13,325
  • Jul 12, 2010 7:06am Jul 12, 2010 7:06am
Price went just baaaaaaaarely over the tunnel line visually, didn't even measure one pip. Would that count as a breakout bar, or best to wait for something stronger?
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  • #13,326
  • Jul 12, 2010 7:09am Jul 12, 2010 7:09am
Quoting traderathome
True, no L-H-HL yet, but don't feel bad about the "counter H1" item. Look at H4 = bullish engulfing candle, .....exactly one of the two kinds Sonicdeejay lists!!!!!!!!

M15 shows what I think are your settings....maybe a bit clearer for others on my chart. BTW, good trade volume going into the SonicR long setup. This should be a good one. Congratulations, KumoDragon!
Ya I looked at h4, didn't catch the bullish engulfing myself, but it did look like it might be bouncing on the H4 to me.
  • #13,327
  • Jul 12, 2010 7:18am Jul 12, 2010 7:18am
Quoting KumoDragon
Price went just baaaaaaaarely over the tunnel line visually, didn't even measure one pip. Would that count as a breakout bar, or best to wait for something stronger?
On my M15, it clearly broke out of the Dragon on a candle. Look at my chart in the post above your post with this question.
  • #13,328
  • Jul 12, 2010 7:23am Jul 12, 2010 7:23am
Quoting traderathome
On my M15, it clearly broke out of the Dragon on a candle. Look at my chart in the post above your post with this question.
mmmm what does that mean, slightly different prices on different borkers? (im with ibfx) Or, that my channel is borked?

If the same thing had happened on your screen would you use it as a breakout bar? Or wait for a better one to base the entry off of. Obviously I have to trade off of what happens on my screens.

P.S. just in case you thought I was still talking about GU the post about the breakout was about EU, I should have put that in the post.
  • #13,329
  • Jul 12, 2010 7:29am Jul 12, 2010 7:29am
GU:

Folks, this is KumoDragon's long trade, to which I added the FR study. The H4 chart shows a Bullish Engulfing candle, one of the two Sonicdeejay recommends for a SonicR trade on the M15. The FR study may help traders pick an entry on a pullback, should the US Open prof traders decide they want to get in lower.....
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  • #13,330
  • Jul 12, 2010 8:02am Jul 12, 2010 8:02am
What about a EUR USD SELL?
  • #13,331
  • Jul 12, 2010 8:06am Jul 12, 2010 8:06am
Hello, just a pic of GU 4H, on mine we see a nice hammer
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  • #13,332
  • Jul 12, 2010 8:07am Jul 12, 2010 8:07am
I think this GU Long is looking even better, 15M flag just formed. (err I guess its would be more properly termed a penant)
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  • #13,333
  • Jul 12, 2010 8:26am Jul 12, 2010 8:26am
Well that was a bite in the backside!!!

On the way down now.. !!!
  • #13,334
  • Jul 12, 2010 8:31am Jul 12, 2010 8:31am
Quoting ozzieb88
Well that was a bite in the backside!!!

On the way down now.. !!!
I think it may be pre news moves. I think the big boys may be pulling it down to push it back up.
  • #13,335
  • Jul 12, 2010 8:54am Jul 12, 2010 8:54am
Trade went about +40 then backed upa bit and stalled. Since it's pre news I moved my stop to BE. Probably regret it but it's better than a loss due to a spike.
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  • #13,336
  • Jul 12, 2010 9:14am Jul 12, 2010 9:14am
Went to +60 then backed off some tp is +80. Just locked in +20 or so because it's nearing the top of a bearish H1 shi channel, and may bounce off.

Comments opinions welcome.
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  • #13,337
  • Jul 12, 2010 10:13am Jul 12, 2010 10:13am
Stopped out +24. Reversed just below the top of the channel on me & hit 15:00 time.
  • #13,338
  • Jul 12, 2010 10:50am Jul 12, 2010 10:50am
Just took this short even though wave analysis wasn't that good. Still looks good on 4H to me.
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  • #13,339
  • Jul 12, 2010 11:23am Jul 12, 2010 11:23am
Quoting KumoDragon
Just took this short even though wave analysis wasn't that good. Still looks good on 4H to me.
To me it looks like the up move has just made its higher low... We shall see I guess. I am still holding my initial opened morning trade.
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  • #13,340
  • Jul 12, 2010 11:43am Jul 12, 2010 11:43am
CLEAR!
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Persian Gulf forever
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