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Sonic R. System

  • #14,001
  • Aug 4, 2010 4:57am Aug 4, 2010 4:57am
Quoting odges
Pumlitch, if you follow the rules, your SL shouldn't be hit - at least for now
Hmmm, what rule exactly? I am affraid I did not get the point.
Follow my trading on Twitter and FB: @pumlitch
  • #14,002
  • Aug 4, 2010 5:03am Aug 4, 2010 5:03am
your EP is after LH is formed so SL should be just few pips beyond this LH at least.. (this is so if I clearly understand how you count the waves, if not - sorry)
Attached Image
Patience is the key.
  • #14,003
  • Edited 6:35am Aug 4, 2010 5:12am | Edited 6:35am
Quoting odges
your EP is after LH is formed so SL should be just few pips beyond this LH at least.. (this is so if I clearly understand how you count the waves, if not - sorry)
Clear. SL was above the last High, the SL line in the chart is placed aproximately.
The problem was that the move downward simply turned back. But it is obvious that the price is ranging so I should maybe wait and not be so hasty.

!!!EDIT: I just reviewed a couple of my last trades and I find out that I entered short while the price was above the EMA89 or Zig-Zagging around the EMA89. If I would pay more attention to it I can filter a lot of losing trades off!
As a friend of mine says "Every day a new skill."
Follow my trading on Twitter and FB: @pumlitch
  • #14,004
  • Aug 4, 2010 5:23am Aug 4, 2010 5:23am
UJ-LONG order opened

Let's go....
  • #14,005
  • Edited 7:20am Aug 4, 2010 6:50am | Edited 7:20am
CHFUSD:

Closed for 40 pips profit. Tired of waiting.

Edit: Had I been just a bit more patient....
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  • #14,006
  • Aug 4, 2010 6:58am Aug 4, 2010 6:58am
Could someone pls. help clarify the use of the trendline w/ regards to trading? Should I buy/sell in direction of trendline, which is what I have been doing. And what should I do if PA crosses trendline?

Thanks,
Keeper81
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  • #14,007
  • Aug 4, 2010 7:05am Aug 4, 2010 7:05am
Quoting chemfly
This is my set for UJ-LONG

buystop @ 85.55; SL @ 85.20; TP1 @ 86; TP2 @ 86.30



GOD IS COMING....

TP1 hit.... Close half

another half Move BE @ 85.60 ,and wait for the next TP 86.30

GOD IS COMING....
  • #14,008
  • Aug 4, 2010 7:15am Aug 4, 2010 7:15am
first good news from the us economy and the usd flies
  • #14,009
  • Aug 4, 2010 7:39am Aug 4, 2010 7:39am
Quoting chemfly
TP1 hit.... Close half

another half Move BE @ 85.60 ,and wait for the next TP 86.30

GOD IS COMING....

86.20 close all....
  • #14,010
  • Aug 4, 2010 7:40am Aug 4, 2010 7:40am
Quoting Basber
Let's see what will happen next ...

P.S. : Last E/J trade closed at BE.

Regards,
Basber
Closed half - SL @ BE

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #14,011
  • Edited 9:07am Aug 4, 2010 7:55am | Edited 9:07am
AU:

If "good news for dollar" stands, then here is one that has not triggered enough downside to setup SonicR. But it might happen. Note that there is heavy consolidation at the highs before the news.....as if they knew what was coming. But the leg down so far might be only the beginning.

Worth watching?

Edit: Attached second M15 chart showing NVO activity. The NVO study shows heaviest trading on the leg down, and much less trading on the "reset pump" back for more shorting. Warning: Speculation!
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  • #14,012
  • Aug 4, 2010 12:31pm Aug 4, 2010 12:31pm
What a week.......

Monday: Saw a set up that eventually went +170 pips on GU. I guess I was overly tired getting up for the london session (1 AM here). I just stared at the set up and did nothing like I was paralyzed because I was so intent on looking for a short to set up instead that I guess my mind couldn't accept long. So no trade monday at all, let what will probably be the best GU set up all week run away from me.

Watched it thinking, " Thats gonna go up," sure enough went up huge with not even a hint of fakeout.

Tuesday: +50 GU long. Set SL To Be a bit early and came within 2 pips of being stopped out TWICE before I just locked in 50.

Wednesday: Was trying out stock 40 pips stop losses. Short EU & GU. GU I put my entry lower than the most recent breakout bar and paid for it. -40 pips before eventually going my way (if I had entered in the correct set up spot I would not have been stopped out.). EU +40 pips so break even for today.

I've focused my trading on EU & GU as I like the way they behave the best. I felt that trying to trade 4 pairs was just to much. EJ needs to large of a stop and give me panic attacks the amount it can move against you before going in favor of the trade. I've alsoo been using USD/CHF as a counter movement indication of EU/GU as USD/CHF tends to move opposite and ahead of EU a bit.

I feel I am getting much more proficient at trading the sonic method. I've been getting up for the london session in an effort to try and find entries that I might be able to hold on to throughout both sessions if a pair trends really strongly.
  • #14,013
  • Aug 4, 2010 1:53pm Aug 4, 2010 1:53pm
Quoting KumoDragon
What a week.......

Monday: Saw a set up that eventually went +170 pips on GU. I guess I was overly tired getting up for the london session (1 AM here). I just stared at the set up and did nothing like I was paralyzed because I was so intent on looking for a short to set up instead that I guess my mind couldn't accept long. So no trade monday at all, let what will probably be the best GU set up all week run away from me.

Watched it thinking, " Thats gonna go up," sure enough went up huge with not even a hint of fakeout.

Tuesday: +50 GU long....
I see we walk the same way fellow KD. As I had some nice profits two weeks ago I thought I am the world champion in trading. I started to trade four pairs at once and I lost all what I earned before. Funny (still on Demo).
From tomorrow I'm trading only EU.
I trade at my work office so I have to by focused on my regular job more than trading so one pair is enough.
Good night to all who goes to the bed as I do now.
Follow my trading on Twitter and FB: @pumlitch
  • #14,014
  • Edited 6:48pm Aug 4, 2010 6:32pm | Edited 6:48pm
AU:

As the asian session progresses, the only pair I find with a HL sequence consistent with dollar strength yesteday, and with good spacing, is this pair. Note, in the second chart, the confluence of lines; average range, Daily Support 2 and fibo level from Yhigh/Ylow draw (any version of SpudFibo, too). I don't know if it will turn out meaningful, but it is a nice 80+ pips down.
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  • #14,015
  • Aug 4, 2010 6:59pm Aug 4, 2010 6:59pm
Quoting traderathome
I took a close look at the EU chart and suddenly the flat line tops of a string of candles stood out!

I think this is called a Table Top, whose significance is that the price drops off the table! If I am not mistaken, one root cause for such PA is that a VERY LARGE sell order exists in the system, and it keeps getting triggered for partial fills each time the price rises to the sell order price. It is called an Iceberg order because we cannot see but a small part of the whole on each trigger event. We can only see 11% of the ice berg above the...
Wow TAH, that's too much information, can't I just watch the dragon tunnel and be done with it? Just kidding. Your explanation is very interesting and could very well be the case. What a mind game.

But always best to stick to approved trading hours. I was on my second screwdriver and was feeling invincible, so I plunged at 10 cents a pip. Call me Mr. Dangerous.

Anyways, my buy order on GU was triggered, and down she went. I didn't really expect anything different. So I cancelled my buy order on EU and got out with a $1.70 loss on GU. No M&Ms tonight!
"Be the change that you wish to see in the world." --Gandhi
  • #14,016
  • Edited 7:51pm Aug 4, 2010 7:20pm | Edited 7:51pm
AU:

I am thinking this will be my trade today. The NVO study (on this M30 and on the M1 chart) says they pumped it up to trade heavily at the top (shorting senario). The HLs (dropping) are consistent with the dollar strengthening yesterday. And, as pointed out in previous post on AU, there is confluence of target lines in the area of the today average range low, which will be my TP. I am going to look for the euro traders to pump this so they too can get some premium shorting in before it gets slammed down (maybe in US session?).
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  • #14,017
  • Aug 4, 2010 7:41pm Aug 4, 2010 7:41pm
EU:

Those looking at this one might see some good downside later. Look at the trio of candles highlighted. Look at the NVO bars highlighted. This is a PERFECT sign of what I call "pump to short". The price was driven up soley for the purpose of getting shorts on at higher prices. This is the first candle/bar. At the highs, liquidity ran out and trading dried up. Nobody wanted to take the long side of the short orders being made, and the pumpers did not want to invest more money to drive the price higher....too many competing short orders up there already! This is the middle candle/bar. So, a frenetic shorting spree at falling prices ensued. this is the third candle/bar.

Some professional trading outfit just positioned themselves for the next run down.

Warning: Speculation!
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  • #14,018
  • Aug 4, 2010 10:44pm Aug 4, 2010 10:44pm
TAH : thanks for the great explanation of the order flow behind certain moves, I am learning a lot from your posts.

It is not that I see this as speculative rambling, rather I just take it as a possible perspective which forces me to think for myself.

Good trading to all.
Be like water.
  • #14,019
  • Aug 4, 2010 11:11pm Aug 4, 2010 11:11pm
Quoting chemfly
UJ-LONG order opened

Let's go....
Hi Chemfly,

Beautiful trade yesterday on USDJPY. What did you base your decision on?

Thanks.
  • #14,020
  • Aug 4, 2010 11:13pm Aug 4, 2010 11:13pm
AU Short Initiated:

This is an early entry after another bounce off declining TL. A risk is that London Open has yet to happen, and anything can happen then, including another push up. So the entry is light and can be added to if conditions are right. The SL is above all highs. The TP is near the average range low mark. This entry will be followed by a SonicR entry if all goes well.
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