Trading methods are designed to put the odds in our favor, not predicting.
- #14,922
- Oct 28, 2010 10:00am Oct 28, 2010 10:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,923
- Oct 28, 2010 11:43am Oct 28, 2010 11:43am
- Joined Feb 2009 | Status: Trader | 1,292 Posts
Trading methods are designed to put the odds in our favor, not predicting.
- #14,925
- Edited 12:39pm Oct 28, 2010 12:22pm | Edited 12:39pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Basber, your method of using H4 in support of M15 SonicR trading seems to be simple and effective.....in true SonicR style! May I suggest that you post your H4 chart along with your M15 chart when posting a trade. Repetitive occurances of you doing this may help ingrain this into the rest of us.
If I am correctly interpreting your use of the H4, it is to zero in on PPZs (Pivotal Price Zones). These would be price areas where consolidation has taken place between moves. And when the consolidation range is wide, then you are trying to zero in on the core band of it. Is this interpretation correct?
If I am correctly interpreting your use of the H4, it is to zero in on PPZs (Pivotal Price Zones). These would be price areas where consolidation has taken place between moves. And when the consolidation range is wide, then you are trying to zero in on the core band of it. Is this interpretation correct?
- #14,926
- Oct 28, 2010 12:29pm Oct 28, 2010 12:29pm
- Joined Feb 2009 | Status: Trader | 1,292 Posts
Basber you are great
profitable transactions
beautifully observed situation ("Supports & Resistances" AREAS that I drew from H4 TF.)
I wish you the best
I hope my posts help you and others to grow faster together Basber, your method of using H4 in support of M15 SonicR trading seems to be simple and effective.....in true SonicR style! May I suggest that you post your H4 chart along with your M15 chart when posting a trade. Repetitive occurances of you doing this may help ingrain this into the rest of us.
Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
Basber, your method of using H4 in support of M15 SonicR trading seems to be simple and effective.....in true SonicR style! May I suggest that you post your H4 chart along with your M15 chart when posting a trade. Repetitive occurances of you doing this may help ingrain this into the rest of us.
- #14,928
- Oct 28, 2010 12:31pm Oct 28, 2010 12:31pm
- Joined Feb 2009 | Status: Trader | 1,292 Posts
+1
Trading methods are designed to put the odds in our favor, not predicting.
- #14,929
- Oct 28, 2010 12:47pm Oct 28, 2010 12:47pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,930
- Oct 28, 2010 12:59pm Oct 28, 2010 12:59pm
- Joined Feb 2009 | Status: Trader | 1,292 Posts
Basber, your method of using H4 in support of M15 SonicR trading seems to be simple and effective.....in true SonicR style! May I suggest that you post your H4 chart along with your M15 chart when posting a trade. Repetitive occurances of you doing this may help ingrain this into the rest of us.
If I am correctly interpreting your use of the H4, it is to zero in on PPZs (Pivotal Price Zones). These would be price areas where consolidation has taken place between moves. And when the consolidation range is wide, then you are trying to zero in...
By the way, I try to make it more clear :
Those bands are the usual supports and resistances that we all use, I drew it as a band, because they should be treated like areas, not exact levels. What I understand from your question was the width of the band. If it's right, I adjust the width so that the area contains maximum HIGHS and LOWS that created the S&R. It doesn't have anything to do with Pivot points that are painted by pivot indicator.
I'm really not sure that I understand your question right. If paragraph above was not what you meant, please clarify me. Thanks
Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
- #14,931
- Oct 28, 2010 3:32pm Oct 28, 2010 3:32pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
I think I didn't understand your question well enough to answer it.
By the way, I try to make it more clear :
Those bands are the usual supports and resistances that we all use, I drew it as a band, because they should be treated like areas, not exact levels. What I understand from your question was the width of the band. If it's right, I adjust the width so that the area contains maximum HIGHS and LOWS that created the S&R. It doesn't have anything to do with Pivot points that are painted by pivot indicator.
I'm really not sure that I understand...
- #14,932
- Edited 5:40pm Oct 28, 2010 4:04pm | Edited 5:40pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EJ:
Yesterday I entered short, about 30 pips below current price. And it still looks bearish, which is why I am posting this. It is sort of a suggestion to keep watch on this.
The attached M15 charts shows Monday the price fell to a S/R area. Tuesday the price oscillated about the core of this area. Wednesday started out that way, but eventually price fell thru and moved down some. Yesterday the price came back up during the asian session to "test" the core of this S/R area and dropped again before the London session began. When price pulled back up from this drop, it looked like a good opportunity to enter short near the orginal EP. But the London/US session resulted in yet another "test" of the S/R level.
As we can see from the chart, the Dragon and Trend Line are trending down. So this continues to look Bearish. And it might be worth keeping an eye on, because after all this "testing" () any drop might be a darned good one.
Edit: Added 2nd chart regarding early asian session trading. PA was spiked up with a spike up in activity, which likely means taking on short positions, especially since immediately afterwards the price drops. This is likely due to the continued taking on of short positions which finally had the logical result of a dropping price. This does not mean the price will not be higher sometime when the euro/London traders get active, but it is revealing as to which direction of a move is being prepared for. Warning: this is speculation.
Yesterday I entered short, about 30 pips below current price. And it still looks bearish, which is why I am posting this. It is sort of a suggestion to keep watch on this.
The attached M15 charts shows Monday the price fell to a S/R area. Tuesday the price oscillated about the core of this area. Wednesday started out that way, but eventually price fell thru and moved down some. Yesterday the price came back up during the asian session to "test" the core of this S/R area and dropped again before the London session began. When price pulled back up from this drop, it looked like a good opportunity to enter short near the orginal EP. But the London/US session resulted in yet another "test" of the S/R level.
As we can see from the chart, the Dragon and Trend Line are trending down. So this continues to look Bearish. And it might be worth keeping an eye on, because after all this "testing" (
) any drop might be a darned good one.Edit: Added 2nd chart regarding early asian session trading. PA was spiked up with a spike up in activity, which likely means taking on short positions, especially since immediately afterwards the price drops. This is likely due to the continued taking on of short positions which finally had the logical result of a dropping price. This does not mean the price will not be higher sometime when the euro/London traders get active, but it is revealing as to which direction of a move is being prepared for. Warning: this is speculation.
- #14,933
- Oct 28, 2010 6:20pm Oct 28, 2010 6:20pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,934
- Oct 28, 2010 6:44pm Oct 28, 2010 6:44pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,935
- Oct 28, 2010 7:49pm Oct 28, 2010 7:49pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,938
- Oct 29, 2010 6:31am Oct 29, 2010 6:31am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,939
- Oct 29, 2010 6:56am Oct 29, 2010 6:56am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #14,940
- Oct 29, 2010 8:39am Oct 29, 2010 8:39am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU and GU:
Look at Weekly charts for these two. PA is exactly at the FR 62% and 38% retrace levels respectively, for last major runs down.
They finish the week in these areas, and then what happens next week? Both are in down trends. But, they have both been pumped over the summer. Time for at least a seasonal reversal back down?
What, "Dollar Strength?" God, forbid! The US government will have a heart attack!
Look at Weekly charts for these two. PA is exactly at the FR 62% and 38% retrace levels respectively, for last major runs down.
They finish the week in these areas, and then what happens next week? Both are in down trends. But, they have both been pumped over the summer. Time for at least a seasonal reversal back down?
What, "Dollar Strength?" God, forbid! The US government will have a heart attack!
