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Sonic R. System

  • #14,021
  • Aug 4, 2010 11:48pm Aug 4, 2010 11:48pm
Trade Rat Home ( I like it!) Thanks for the lesson regarding the Volume and price pumping.
my todays trade EU:
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Follow my trading on Twitter and FB: @pumlitch
  • #14,022
  • Edited Aug 5, 2010 1:20am Aug 4, 2010 11:55pm | Edited Aug 5, 2010 1:20am
AU Short Trade Closed, Then Re-Opened:

Took 23 pips profit off early entry. Now waiting for pull up at LO for re-entry.

Edit: Added second chart. Re-enterd at half number on pullback. Then added in EP Zone.
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  • #14,023
  • Aug 5, 2010 2:00am Aug 5, 2010 2:00am
EU:
Just a correction to trend line, bigger pullback to 61,8% or even a new downtrend? Huh...
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  • #14,024
  • Edited 3:16am Aug 5, 2010 2:05am | Edited 3:16am
Quoting Pumlitch
Trade Rat Home ( I like it!) Thanks for the lesson regarding the Volume and price pumping.
my todays trade EU:
Attachment
SL hit.
EDIT: It seems that yesterday's good US news affected USD temporarily and we are back there where we were before the release.
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  • #14,025
  • Aug 5, 2010 4:20am Aug 5, 2010 4:20am
Quoting Basber
Closed half - SL @ BE

Regards,
Basber
BE hit

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #14,026
  • Aug 5, 2010 5:13am Aug 5, 2010 5:13am
Just for a better unterstanding for myself.
Was this a valid SonicR Setup for EurJpy Long or was the retrace "to heavy" ?
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  • #14,027
  • Edited 8:22am Aug 5, 2010 7:59am | Edited 8:22am
Quoting Etecy
Just for a better unterstanding for myself.
Was this a valid SonicR Setup for EurJpy Long or was the retrace "to heavy" ?
Please put EP, TP and SL for "trade" on chart and re-post. I can't tell where/when/which direction you are referring to an 'entry'. OK?

Edit: Well, I'll try this answer. See attached chart.
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  • #14,028
  • Aug 5, 2010 8:06am Aug 5, 2010 8:06am
here we go
tp via trailing stop
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  • #14,029
  • Aug 5, 2010 8:35am Aug 5, 2010 8:35am
Quoting Pumlitch
SL hit.
EDIT: It seems that yesterday's good US news affected USD temporarily and we are back there where we were before the release.
Attachment
I truely believe that while sometimes "news" is a legitimate reason for a price change, more often than not it is just an excuse to change the price. This is why price movements on "news" can be fully reversed within several days, or several hours! News content and price movement are not often related in "truth". Hoiwever, a "news event", price, and "profit motives" are all too often the real "truth".
  • #14,030
  • Aug 5, 2010 8:39am Aug 5, 2010 8:39am
AU Short Trade Update:

No quick downside on this one! It is behaving as though traders are involved in consolidation with every downward pip....keeping it from dropping too fast while scrambling to close longs and go short. Just speculation on my part based on PA and NVO.
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  • #14,031
  • Aug 5, 2010 8:49am Aug 5, 2010 8:49am
GU Re-entry Opportunity:

Just my opinion. Make your own decisions.

PA seems in pull back upwards towards original EP zone. First thrust down was on high activity. Then there was a pull up to the session highs with heaviest trading on one of the bars hitting the highs....(shorting senario). Then we just had a second run down on heavy trading (those small green NVO bars have the same average trading behind them as the larger preceding group of NVO bars).

So, PA may be being pumped up for another shorting/drop phase. If so (and again, just my opinion) it could drop in late US session. But there is always the possibility the next drop, if there is to be one, will not happen until tomorrow. And if that happens, it could go higher above EP beforehand.
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  • #14,032
  • Aug 5, 2010 8:57am Aug 5, 2010 8:57am
Quoting traderathome
I truely believe that while sometimes "news" is a legitimate reason for a price change, more often than not it is just an excuse to change the price. This is why price movements on "news" can be fully reversed within several days, or several hours! News content and price movement are not often related in "truth". Hoiwever, a "news event", price, and "profit motives" are all too often the real "truth".
Sure.
I agree that the news are not definitely the reason of the sudden moves of price but as we can't see the thoughts of the big players we can consider the news as a trigger of the move and be ready for it.
The following reversal move is an usual thing, I knew that but simply did not pay attention on it. My fault. Next time I'll be better
Follow my trading on Twitter and FB: @pumlitch
  • #14,033
  • Aug 5, 2010 10:03am Aug 5, 2010 10:03am
Took a questionable short on EU. The wave into the dragon was nothing to brag about, price just had a large drop so was probably spent, and it went into consolidation. So it wasn't exactly screaming "trade me."

But after all, a fellas gotta trade.

So, when price is consolidating on a higher timeframe, a lower timeframe gives a better idea of which way price is apt to break out. So, using the 5M chart, I went short on a 123 reversal pattern, for +26 pips. Because of the smaller timeframe, I could use a tight 10-pip stoploss, so I was able to trade a larger position to make those 26 pips count.

The ol' "123" is still a very valuable setup.

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"Be the change that you wish to see in the world." --Gandhi
  • #14,034
  • Aug 5, 2010 12:59pm Aug 5, 2010 12:59pm
Quoting Wally1953
Took a questionable short on EU. The wave into the dragon was nothing to brag about, price just had a large drop so was probably spent, and it went into consolidation. So it wasn't exactly screaming "trade me."

But after all, a fellas gotta trade.

So, when price is consolidating on a higher timeframe, a lower timeframe gives a better idea of which way price is apt to break out. So, using the 5M chart, I went short on a 123 reversal pattern, for +26 pips. Because of the smaller timeframe, I could use a tight 10-pip stoploss, so I was able...

Hello, I am very interested about 123 reversal pattern. I pointed some entries on UJ. Are the setup correct ?
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  • #14,035
  • Aug 5, 2010 1:22pm Aug 5, 2010 1:22pm
Quoting pipoca
Hello, I am very interested about 123 reversal pattern. I pointed some entries on UJ. Are the setup correct ?
Regarding the trade system you are mentioning I recommend to have a look at the Snusnufreak's Effective 5M intraday system which is about the Trend Lines and 123 pattern mainly. I learned a lot of things there.
Follow my trading on Twitter and FB: @pumlitch
  • #14,036
  • Aug 5, 2010 7:59pm Aug 5, 2010 7:59pm
AU:

If I was not already in this from yesterday at 0.9145, I'd be tempted. Nice HL sequence, but ahead of approved trading hours. Still, I'd be tempted if PA breaks down thru the EP Zone. Sooner or later, this will HAVE to make a move, one way or the other.
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  • #14,037
  • Edited 2:51am Aug 6, 2010 2:30am | Edited 2:51am
EJ:

M30 NVO shows trading activity spike at highs at London Open and PA moving down since. A SonicR short setup EP is established and PA is right now pulling up a bit. I do not see a HL sequence, yet. Monitoring the pull up to see if we get a HL wave sequence to improve the odds on any trade.

Edit: Added second chart. PA pierced EP thru, but pulled up before breaking lower TL. Maybe now PA will move to create a lower high. It would be nice to see that before a run down.
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  • #14,038
  • Aug 6, 2010 3:10am Aug 6, 2010 3:10am
USDCHF:

Wow! Sudden dollar strength here?
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  • #14,039
  • Edited 6:24am Aug 6, 2010 6:00am | Edited 6:24am
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Quoting pipoca
Hello, I am very interested about 123 reversal pattern. I pointed some entries on UJ. Are the setup correct ?
Your examples are not 123s.

Here's another chart with a 123 high and a 123 low as an example. In this example it's used to pick tops and bottoms.

I like to use these when price is retracing on a higher timeframe, and helps me get in early with smaller stoploss when price resumes the trend in original direction (as in the first chart I posted with my actual trade).

This setup has been around a long time, and is still a very good indication of where price may be headed. At times it can be quite helpful when used in conjunction with Sonic.

EDIT: Actually, on your chart, I think the entries are correct. It was just confusing because your numbers (123s) were in the wrong place.
"Be the change that you wish to see in the world." --Gandhi
  • #14,040
  • Aug 6, 2010 7:59am Aug 6, 2010 7:59am
Hi TAH,
are u still in the Aussie trade from yesterday? AU failed to clear 92 and is back in his range between .9140- .9175. Time for the reversal?
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