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Sonic R. System

  • #13,401
  • Jul 14, 2010 5:52am Jul 14, 2010 5:52am
EU Short Trade Initated:

Early entry off SR with H-L-LH sequence. TP1 is tentative. May let trade run if appropriate.
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  • #13,402
  • Jul 14, 2010 6:13am Jul 14, 2010 6:13am
Possible short AUD USD?
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  • #13,403
  • Jul 14, 2010 6:40am Jul 14, 2010 6:40am
Quoting ozzieb88
Possible short AUD USD?
Yes, ozzieb88. PA hits head on SR, then H-L-LH sequence....a trip down to central pivot might be in order. But I'd be looking at MS1 (lower half number), then DS1, too.
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  • #13,404
  • Jul 14, 2010 6:41am Jul 14, 2010 6:41am
EU short : still in ! (@ 1.2798), I lowered my stop just few pips from LH previously noted by TAH (@ 1.2730)
  • #13,405
  • Jul 14, 2010 6:43am Jul 14, 2010 6:43am
Quoting traderathome
EU Short Trade Initated:

Early entry off SR with H-L-LH sequence. TP1 is tentative. May let trade run if appropriate.
I entered a sell stop for that too, mostly because of the run up yesterday. The waves look good to me, but not sure about the dragon tunnel angle.

It's going down, but very small in length. Would you consider that a 4 o'clock angle.
  • #13,406
  • Jul 14, 2010 6:46am Jul 14, 2010 6:46am
Quoting pipoca
EU short : still in ! (@ 1.2798), I lowered my stop just few pips from LH previously noted by TAH (@ 1.2730)
Pipoca, the US Open is coming up. Be careful about SLs, because there can be whipsawing. If so, tight SLs will be triggered, and then the trade will resume!
  • #13,407
  • Jul 14, 2010 6:49am Jul 14, 2010 6:49am
Quoting KumoDragon
I entered a sell stop for that too, mostly because of the run up yesterday. The waves look good to me, but not sure about the dragon tunnel angle.

It's going down, but very small in length. Would you consider that a 4 o'clock angle.
It is starting to develop angle now, and yes, about 4 o'clock as it stands. The early entry off support may have secured a price unavailable once the US traders start, if they proceed to take it down. Otherwise, there could be yet another wave formed.
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  • #13,408
  • Jul 14, 2010 6:55am Jul 14, 2010 6:55am
Quoting traderathome
Pipoca, the US Open is coming up. Be careful about SLs, because there can be whipsawing. If so, tight SLs will be triggered, and then the trade will resume!
Hello, thx to pay attention. I am wondering If EU is ranging, with all the PA within the range. This give waves analysis less clearer ?
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  • #13,409
  • Jul 14, 2010 7:03am Jul 14, 2010 7:03am
Quoting pipoca
Hello, thx to pay attention. I am wondering If EU is ranging, with all the PA within the range. This give waves analysis less clearer ?
I was thinking the same thing, which is why my entry is a bit past that lower range. If my entry gets hit, with any luck that means the range is over and it's a breakout.
  • #13,410
  • Jul 14, 2010 7:04am Jul 14, 2010 7:04am
Quoting pipoca
Hello, thx to pay attention. I am wondering If EU is ranging, with all the PA within the range. This give waves analysis less clearer ?
Looks like a clear flag constellation, so lets trade it like that...
  • #13,411
  • Jul 14, 2010 7:14am Jul 14, 2010 7:14am
Quoting KumoDragon
I was thinking the same thing, which is why my entry is a bit past that lower range. If my entry gets hit, with any luck that means the range is over and it's a breakout.
Give the US profs time. Once they decide and start their orders, it will be clear. Activity will increase. But, yes, they could keep it in the range.

If this is slated for a drop at some time later, then why not keep it in the range as long as it takes for them to build their short positions? After all, this has had a good climb......lots of longs to close and shorts to open! The profs may need time to sucker in others to take their longs and give them shorts!

Seriously, there is the liquidity issue to deal with. If the profs went long over days in advance of the recent climb in price, and if now they want to go short in advance of a new decline.......then, this could take some time. After all, if the profs have lots of long positions to close, who is going to take the other side of all those sells? And if the profs are wanting to go short now, who is going to take the other side of all the sells? Unless somebody (or many) start buying, this could take a while.
  • #13,412
  • Jul 14, 2010 7:23am Jul 14, 2010 7:23am
HI TAH, how can i get that indicator you use for volume. Sonic voulme enhanced where i can see i horizontal line crossing the volume candle, and by that way how are you getting on on new indicator or improved ones....thanks
  • #13,413
  • Jul 14, 2010 7:25am Jul 14, 2010 7:25am
For sure the .2700 area has shown to be significant historically.

Zoom out, check out a long term weekly chart maybe, to get the big picture ..

A good position taken in this area could be a biggie...

jmo
  • #13,414
  • Jul 14, 2010 7:25am Jul 14, 2010 7:25am
Looks like everyone is waiting on 7:30 news.
  • #13,415
  • Jul 14, 2010 7:35am Jul 14, 2010 7:35am
There goes the news spike.
  • #13,416
  • Jul 14, 2010 7:38am Jul 14, 2010 7:38am
Quoting tommyd
For sure the .2700 area has shown to be significant historically.

Zoom out, check out a long term weekly chart maybe, to get the big picture ..

A good position taken in this area could be a biggie...

jmo
Yep, and Monthly too. 1.2700 - 1.1400 = 1,300 pips! Chart has both FR and FE studies, which have confluence at 1.1436 down to 1.1307, so 1.1400 target is reasonable. And these levels are not "far off" levels in these studies, either.
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  • #13,417
  • Jul 14, 2010 7:39am Jul 14, 2010 7:39am
USD looks weak...

I think entering soon may be a long term trade.... entry on 15 and exiting on H1 or H4? May even ride all the way to 1.300 as many "analysts" predict.
  • #13,418
  • Jul 14, 2010 7:44am Jul 14, 2010 7:44am
Quoting KumoDragon
There goes the news spike.
The profs are doing the whipsaw dance, running the price to trigger SLs to increase liquidity for their short orders, and selling all the way up while they do it.
  • #13,419
  • Jul 14, 2010 8:09am Jul 14, 2010 8:09am
EJ Short Trade:

Half closed at central pivot for 48 pips profit. Lowered SL to protect some profit on remainder.
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  • #13,420
  • Jul 14, 2010 8:09am Jul 14, 2010 8:09am
I have a resting sell that just came within a nats a$$ of being hit.. on that last down spike..

I agree with TAH that it may take a while for this to play out, but we never really know...

never mind that I'm in short.
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