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Sonic R. System

  • #14,141
  • Aug 12, 2010 4:44pm Aug 12, 2010 4:44pm
Got in this UC trade somewhere at the start of the london session. Price then proceeded to range between -14 & 0 & +3.....Get this, all the way until the 7:30 USD news.

All the while GU and EU were making nice shorts. If I had picked one of them for my trade of the day I'd have been in and out and got some sleep.

When it finally broke short for me I locked in BE after 20 or so pips. Was almost stopped out by 9 pips. I went to sleep because I was beat. ( I get up at 1AM)

After I got back up, later in the US session it had went to +80 then retraced to +30 .

Right now I have it at +49 with +34 locked in. I'm going to take a chance and let it ride and see if it will hit my tp of +150.
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  • #14,142
  • Aug 12, 2010 5:58pm Aug 12, 2010 5:58pm
Quoting KumoDragon
Got in this UC trade somewhere at the start of the london session. Price then proceeded to range between -14 &...
Wow Kumo, what an adventure! So you're going for 150 pips? When you get up tonight at 1 a.m., I hope it's in your favor and you can move your stop down a bit to lock in some more profits, and maybe find another trade to get into.

I haven't set an alarm yet to get up in the middle of the night, but if I happen to wake up, I stagger over to my computer, slap myself in the face, and see what's up. I got lucky a couple times and got in on a good move.

Good luck with this trade!
"Be the change that you wish to see in the world." --Gandhi
  • #14,143
  • Aug 12, 2010 6:01pm Aug 12, 2010 6:01pm
Quoting Wally1953
Wow Kumo, what an adventure! So you're going for 150 pips? When you get up tonight at 1 a.m., I hope it's in your favor and you can move your stop down a bit to lock in some more profits, and maybe find another trade to get into.

I haven't set an alarm yet to get up in the middle of the night, but if I happen to wake up, I stagger over to my computer, slap myself in the face, and see what's up. I got lucky a couple times and got in on a good move.

Good luck with this trade!
Ya I just split up my sleep. Depending on how tired I am I'll go to sleep between 8-10 PM and get up at 1 AM. I'll then stay up till 4 if I'm in a trade. Then I'll go to bed and get up again at 7.

It was brutal at first, but now I'm getting used to it.
  • #14,144
  • Aug 12, 2010 6:18pm Aug 12, 2010 6:18pm
Quoting KumoDragon
Ya I just split up my sleep. Depending on how tired I am I'll go to sleep between 8-10 PM and get up at 1 AM. I'll then stay up till 4 if I'm in a trade. Then I'll go to bed and get up again at 7.

It was brutal at first, but now I'm getting used to it.
I'm considering doing the same thing. Would you say it's worth the effort, or is it too soon to tell?
"Be the change that you wish to see in the world." --Gandhi
  • #14,145
  • Aug 12, 2010 6:34pm Aug 12, 2010 6:34pm
Quoting Wally1953
I'm considering doing the same thing. Would you say it's worth the effort, or is it too soon to tell?
I think so. Lots of setups happen in the london session. They also seem to have more potential to run.

Also, I'm finding if there is no setup in london, at least analyzing the pair prior to a US session setup helps.

The main reason I'm getting up in the london is that my main goal is to hopefully find a good set up at the start of the london opening and hold the trade all the way through the US session, or longer, if it holds strong.

There were quite few trades I passed on that set up beautifully, simply because I'm limiting myself to one trade per session. That way I dont overtrade or hurt my account with to many losses if I pick the wrong direction on multiple pair. That and I've found that I much prefer just watching one pair/trade at a time.
  • #14,146
  • Aug 12, 2010 8:24pm Aug 12, 2010 8:24pm
EU, Short Trade Late In US Session?:

Reviewing some posts, I see some made a short trade on EU late in the US session. Yes, there was a H-L-LH. But this sequence took up the entire prime trading span between LO and the end of approved trading hours. The short trade was entered well after the approved time for entering trades.

Yes, sometimes the late US session presents runs. But the average range is about 138, and the EP Zone for the short trade was at least 100+ pips below the top of the range for the day. That did not leave much left for a spectacular late session run!

If you are considering entering a trade late in the US session on the hopes of a spectacular run, be sure there is enough "play" left in the range for one! On the attached chart I have added RgH and RgL where they must have been at the time the EU short trade was entered. As you can see, there was not much room left for run down.

Entering a trade "after hours" comes with more risk. The odds were further stacked against the trade by the range consideration.

I present this post only in the spirit of helping, and as one who has taken such trades himself.....more times than I like to think about.
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  • #14,147
  • Aug 13, 2010 12:39am Aug 13, 2010 12:39am
my cautious long...let the market...
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Patience is the key.
  • #14,148
  • Aug 13, 2010 12:44am Aug 13, 2010 12:44am
Thank you for taking the time to give your advice and explaining the reasoning behind it. Understanding more about the daily rainge gives added weight to the argument re trading only during approved Sonic R hrs.
  • #14,149
  • Aug 13, 2010 1:34am Aug 13, 2010 1:34am
Entering a trade "after hours" comes with more risk. - TAH
And it happend. My SL hit.
Well, another experience, another way what doesn't work very well
I wish good luck and good trades to all fellows here in next two weeks. I go on holiday.
Cheers guys.
Follow my trading on Twitter and FB: @pumlitch
  • #14,150
  • Edited 2:56am Aug 13, 2010 2:36am | Edited 2:56am
my TP reached, but I just moved SL@BE and set TP to nearest S&R zone @1.2945..lets see how it goes..

EDIT: thrown out @BE. Lesson - don't try to earn all money on one trade..
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Patience is the key.
  • #14,151
  • Aug 13, 2010 3:42am Aug 13, 2010 3:42am
Quoting vincel
Hi folks!

Congratulations for this system that i'm trying to use. It will take a while, before i've read all posts in this thread, but i'll manage to.

Just opened a position on UJ (maybe a litte bit too early, caus' NVO bar was very low, and 3 o'clock dragon direction ), but indeed i noticed the same L-H-HL, so i tried.
EP : 85,54
SL : 85,16
TP : upper SHI (about 86,0x)

Let's see...
closed this morning(Paris time) at 86.09.
+54 pips. Not bad for a first "sonictrade".

In the future, i'll try to post graphs though it's not easy for me.
I'm at work, and i don't get access to MT4 platform here (damned company firewall! ).

have a nice day gentlemen !
  • #14,152
  • Aug 13, 2010 5:00am Aug 13, 2010 5:00am
With 65 pip target.

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"Be the change that you wish to see in the world." --Gandhi
  • #14,153
  • Aug 13, 2010 5:18am Aug 13, 2010 5:18am
Quoting foxybunny
My 4th Sonic Trade (Live).

Executed Order.
EUR/USD - Short
Date: 12-Aug-10
Time: FxPro 20:00
Entry: 1.2826
SL: 1.2886 (-60 pips) (Above Recent LH)
TP: 1.2776 (+50 pips) (A bit less than Stop Loss due to recent Low there)

Current Price: Around 1.2826

Reasons:
H-L-LH Wave formation.
Sonic Dragon slightly slope down.
Recent prices show down trend.
Price retrace up Above Sonic Dragon.
Price went Down past Sonic Dragon.

Attached:
H4 chart for Support & Resistance
M15 Entry, SL, TP.

I will inform of exit result no matter it is profit or loss....

Final Result.
The above order hit SL: 1.2886 (-60 pips).
After hit SL, can see that now during London the price come back to original entry price.

Learn:
- Avoid Late US Session to enter trade.
- Improve Wave recognition.

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-08-13_Exit4_EURUSD_H4.png Size: 34 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-08-13_Exit4_EURUSD_M15_HL_Short.png Size: 57 KB
  • #14,154
  • Aug 13, 2010 5:23am Aug 13, 2010 5:23am
Quoting foxybunny
My 5th Sonic Trade (Live).

Executed Order.
AUD/USD - Short
Date: 12-Aug-10
Time: FxPro 20:45
Entry: 0.8938
SL: 0.8988 (-50 pips) (Above Recent LH)
TP: 0.8888 (+50 pips) (A bit lower than Trading Range)

Current Price: Around 0.8943

Reasons:
H-L-LH Wave formation.
Sonic Dragon slightly slope down.
Recent prices show down trend.
Price retrace up Above Sonic Dragon.
Price went Down past Sonic Dragon.

Attached:
H4 chart for Support & Resistance
M15 Entry, SL, TP.

I will inform of exit result no matter it is profit or loss.

** Please comment...

Final Result.
The above order hit SL: 0.8988 (-50 pips).

Learn:
- Avoid Late US Session to enter trade
- Improve Wave recognition

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-08-13_Exit5_AUDUSD_H4.png Size: 32 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2010-08-13_Exit5_AUDUSD_M15_HL_Short.png Size: 61 KB
  • #14,155
  • Aug 13, 2010 5:29am Aug 13, 2010 5:29am
Quoting traderathome
EU, Short Trade Late In US Session?:

Reviewing some posts, I see some made a short trade on EU late in the US session. Yes, there was a H-L-LH. But this sequence took up the entire prime trading span between LO and the end of approved trading hours. The short trade was entered well after the approved time for entering trades.

[font=Verdana][color=black]Yes, sometimes the late...
For my EUR/USD Short, was looking for 50pips target that was near bottom of trading range for that day, so though still fair to enter.
Still learning how to utilise Trading Range.

Happen to be still awake during late US session which is why I entered when saw the setup.
Now know to avoid Last US session to enter!

Thanks TAH.
  • #14,156
  • Aug 13, 2010 6:53am Aug 13, 2010 6:53am
Target was reached...+65 piporinios!!!

I used only a ten-pip stoploss, so was able to trade a larger position, so this trade brought home the bacon, as it were.

I've been using Sonic, but I often enter on the 5M or the 1M charts to allow for a small stoploss. It doesn't always work, but in the long run, it may be the ticket. Time will tell.

I'm done for the week! Hope everybody finished the week profitable.
"Be the change that you wish to see in the world." --Gandhi
  • #14,157
  • Edited 7:30am Aug 13, 2010 7:08am | Edited 7:30am
UJ Long Trade Closed:

I closed this late in the asian session, figuring the euro session traders might torpedo it for better addition of long trades......went to sleep.

Just woke up to find that is exactly what happened.

Ok, closed trade with 44 pips profit, which is lousy considering this was about a week long trade! But again, better than a loss.

The thing is, PA is moving back up for possible setup long again. Gun shy as I am on this now, I want to see the HL low sequence first. Especially on a Friday. If it happens, then maybe a quick trade....perhaps something like shown in the second chart.

CAUTION: Let the market decide....(especially on a Friday!)
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  • #14,158
  • Edited 8:07am Aug 13, 2010 7:54am | Edited 8:07am
UJ Long Trade Initiated:

PA moved up out of Dragon and then pulled back to the Trend. I entered early there at bid= 85.82, near the bottom of the new range, and now have my fingers crossed. There is a second "High Impact" US release in less than an hour, so anything can happen. PA might just "consolidate" meanwhile.
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  • #14,159
  • Edited 9:21am Aug 13, 2010 8:20am | Edited 9:21am
USD/CAD short trade. Good resistance @ 1.0430
Entry is based on 5 min candle closing outside the dragon.
SL Tp in Picture attached

The only thing what made me thinking was the general Dollar strength but it looks good

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Update: TP hit

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  • #14,160
  • Aug 13, 2010 8:45am Aug 13, 2010 8:45am
Quoting Hunt4pips
USD/CAD short trade. Good resistance @ 1.0430
Entry is based on 5 min candle closing outside the dragon.
SL Tp in Picture attached

The only thing what made me thinking was the general Dollar strength but it looks good

Attachment
If you are concerned about "dollar strength", then consider the possibility the run down is very temporary.....just to gain position before the US release?
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