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Sonic R. System

  • #13,581
  • Jul 19, 2010 8:54am Jul 19, 2010 8:54am
Quoting Wally1953
Attachment

long EU

EP 2969
SL 2929
TP 3056



anybody else?
I'm actually waiting for a short to pop on that, but a long might work out too.
  • #13,582
  • Jul 19, 2010 9:26am Jul 19, 2010 9:26am
Damn stopped out +29 on GU. Was fooling around trying to figure, how to figure, SL because of the new awesome pippettes I have.
  • #13,583
  • Jul 19, 2010 9:39am Jul 19, 2010 9:39am
Quoting Pumlitch
Not very good trades as I got cought twice by fake down moves.
Fortunately I am still a few pips + from the "OK" trade (in the picture).

One quite cool rule says "Wait for pullback before an entry" (c - Snusnufreak).
Follow it or not....?

Something is happening right now...what the market will show us?
Attachment

EDIT: I see the reason of losses right now. No LL, HH etc. It was was rather a lottery than a serious trends.
I'd put up the zig zag indicator from the sonic package, it helps you see the waves A LOT

Also, consider trading 15M instead 5 is going to have more fakeouts in it. It will have more, "noise," than 15. The 15M can sometimes catch the price action trend/reveral for the overall direction of the day, which can result if far greater pip gains.
  • #13,584
  • Jul 19, 2010 9:52am Jul 19, 2010 9:52am
EJ looks like it might be setting up on the 15M.
  • #13,585
  • Jul 19, 2010 10:27am Jul 19, 2010 10:27am
Quoting KumoDragon
EJ looks like it might be setting up on the 15M.
I got out at BE on my EU trade. Thought it was gonna break nicely to the upside, but no.

Congrats on the GU trade, I shoulda took that one.

Enjoy your new pippettes. Gotta love the pippettes!
"Be the change that you wish to see in the world." --Gandhi
  • #13,586
  • Jul 19, 2010 10:31am Jul 19, 2010 10:31am
Quoting Wally1953
I got out at BE on my EU trade. Thought it was gonna break nicely to the upside, but no.

Congrats on the GU trade, I shoulda took that one.

Enjoy your new pippettes. Gotta love the pippettes!
LOL, actually I was being sarcastic I Fing hate pippetes!!! I think they are just a screwy way for borkers to pretend they have lower spreads. Just makes all the calculations that much harder.

P.S. I got stopped out BE on USD/CHF
  • #13,587
  • Jul 19, 2010 10:36am Jul 19, 2010 10:36am
Quoting KumoDragon
EJ looks like it might be setting up on the 15M.
Yes. I am already in EJ short from last week, but looking at it as a fresh trade, this is what I see for the rest of today.
Attached Image (click to enlarge)
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  • #13,588
  • Jul 19, 2010 10:41am Jul 19, 2010 10:41am
Quoting traderathome
Yes. I am already in EJ short from last week, but looking at it as a fresh trade, this is what I see for the rest of today.
Why the 111.80 area for tp 1?
  • #13,589
  • Jul 19, 2010 10:47am Jul 19, 2010 10:47am
Is this a bad time to take an EJ trade? London sessions ends at 12 EST, and Tokyo session doesn't begin for eight hours. Or doesn't it matter so much with Sonic?
"Be the change that you wish to see in the world." --Gandhi
  • #13,590
  • Jul 19, 2010 10:52am Jul 19, 2010 10:52am
Quoting KumoDragon
Why the 111.80 area for tp 1?
It is a quarter number TP, and about in the middle of the previous lower range.
Attached Image (click to enlarge)
Click to Enlarge Name: # 784.gif Size: 36 KB
  • #13,591
  • Jul 19, 2010 10:57am Jul 19, 2010 10:57am
EJ and EU:

The euro traders hiked the prices and so far the US traders seemed to have only concurred, and taken advantage also.

But sometimes, once the euro traders leave the table, the US traders pig out! We may yet see some downside.
  • #13,592
  • Jul 19, 2010 11:00am Jul 19, 2010 11:00am
Quoting Wally1953
Is this a bad time to take an EJ trade? London sessions ends at 12 EST, and Tokyo session doesn't begin for eight hours. Or doesn't it matter so much with Sonic?
Was just thinjking the same thing, if it doesn't make a move down soon I'm just going to cancel my sell stop orders.

Sometimes you get a big reversal move at 10/11 though.

wish I was still in GU now.
  • #13,593
  • Jul 19, 2010 11:05am Jul 19, 2010 11:05am
GU:

This is the chart left over from last week short trade.

I entered again short today, waiting for price to drop below early session lows. TP is just below whole number and above SR, and it nearly reached that already. But not quite enough. There is room left in the average range to do so.
Attached Image (click to enlarge)
Click to Enlarge Name: # 785.gif Size: 36 KB
  • #13,594
  • Jul 19, 2010 11:11am Jul 19, 2010 11:11am
short EJ...we'll see...

Attached Image (click to enlarge)
Click to Enlarge Name: post.gif Size: 14 KB
"Be the change that you wish to see in the world." --Gandhi
  • #13,595
  • Jul 19, 2010 11:46am Jul 19, 2010 11:46am
EJ: stopped out -24 pips and 3 pippettes

I think bad time of day for this pair, I had a small stop too, it will probably go down later on
"Be the change that you wish to see in the world." --Gandhi
  • #13,596
  • Jul 19, 2010 11:50am Jul 19, 2010 11:50am
11:00, and the angle of the tunnel is no longer good on EJ or EU. And EJ broke the lower high of the last wave. So, I just took my sell stops off.
  • #13,597
  • Jul 19, 2010 12:00pm Jul 19, 2010 12:00pm
Caught a textbook entry on GU for 29 pips. I meant to hold on for more, but was figuring out how to figure stops with pippetes.
Attached Image (click to enlarge)
Click to Enlarge Name: guj19.gif Size: 23 KB
  • #13,598
  • Jul 19, 2010 12:03pm Jul 19, 2010 12:03pm
Quoting Wally1953
EJ: stopped out -24 pips and 3 pippettes

I think bad time of day for this pair, I had a small stop too, it will probably go down later on
IMO, entry should have been placed (even further) on the other side of the pivot, in hopes of staying out of a bounce off it long.

P.S. are you using stops past the breakout bar close? Or just entering when it looks good to you?
  • #13,599
  • Jul 19, 2010 12:05pm Jul 19, 2010 12:05pm
Quoting KumoDragon
11:00, and the angle of the tunnel is no longer good on EJ or EU. And EJ broke the lower high of the last wave. So, I just took my sell stops off.
When price settles down and is moving sideways, it also could be ripe for another move! And another upswing, no matter how slight, might be the "grab high for shorts" before the next breakout down......

Lunch is over in NYC, and the euro traders have gone. Lets see what the US profs manage this afternoon.
  • #13,600
  • Jul 19, 2010 12:07pm Jul 19, 2010 12:07pm
Quoting KumoDragon
Caught a textbook entry on GU for 29 pips. I meant to hold on for more, but was figuring out how to figure stops with pippetes.
"Pippetes" is just another fancy marketing name for "5 digits"? You'd have thought they would have called it "Pipettes". Apparently they lack language skills.
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