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Sonic R. System

  • #14,941
  • Oct 29, 2010 9:05am Oct 29, 2010 9:05am
Quoting traderathome
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!
you are right, but it could go up at RT 79% - it's a impulse wave
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  • #14,942
  • Oct 29, 2010 9:34am Oct 29, 2010 9:34am
Quoting mtbf40
you are right, but it could go up at RT 79% - it's a impulse wave
Thanks. BTW, your 79% level reads 76.4 and you might want to change the value and the label in the FR tool to 78.6 if you intend it to be the 79% level.
  • #14,943
  • Oct 29, 2010 10:33am Oct 29, 2010 10:33am
Quoting traderathome
Thanks. BTW, your 79% level reads 76.4 and you might want to change the value and the label in the FR tool to 78.6 if you intend it to be the 79% level.
ok!! it's the default properties from Metarader - normaly i use 78,6 RT
  • #14,944
  • Edited 6:43pm Oct 30, 2010 6:33pm | Edited 6:43pm
I shorted this Friday, and re-entered it short again when it went back up. but aside from that, take a look at the picture here on H1.

The H1 Dragon and Trend Line are configured to the M15 chart, which is to say they appear here on the H1 just as they are on the M15. This turns the H1 into a perhaps easier to "read" M15 chart; same Dragon and Trend Line, but fewer candles tell the story.

And the stroy is PA broke down thru the S/R area and has now retested it twice. And all this "testing" action is right at a whole number area (blue lines are whole numbers). If this resistance area holds and PA moves down from here, it could be the start of a nice move south. The saying is that the more times PA is rejected at a S/R area, the stronger that area is. It looks like PA has been rejected twice, but I'd like to see what happens when trading resumes.

The Aussie dollar is at a 2+ year high against the US dollar, but only as the result of a very strong/steep drive up over a six week period late this summer. If PA had moved up via more regular and convoluted action, I'd be more inclined to think the highs might stick. But the fast drive up has the look of a Bear Channel, and that is a harbinger of a drop.

So, this might be a good one to watch during the week ahead for shorting opportunities.
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  • #14,945
  • Oct 30, 2010 6:55pm Oct 30, 2010 6:55pm
This one also has a bearish look about it. PA has tested the S/R area and the long upper wick says it was strongly sold off there. So this too, might be one to watch for shorting opportunities in the week ahead.
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  • #14,946
  • Oct 30, 2010 7:47pm Oct 30, 2010 7:47pm
I think its defo will make a correction north before it moves short gradually as it still looks too steep. What do you think?
I would wait till Monday open GMT to see what happens and get in some trade on Tues based on PA and volume
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  • #14,947
  • Edited 1:20pm Oct 31, 2010 12:53pm | Edited 1:20pm
Quoting PositivePiP
I think its defo will make a correction north before it moves short gradually as it still looks too steep. What do you think?
I would wait till Monday open GMT to see what happens and get in some trade on Tues based on PA and volume
PositivePip,

What is "defo"? I thought you might be using that as an abbreviation for "direction forward", but then that would be "difo".

I was going to post that this might make a second test of the S/R area. And that such another test could happen after an intial move down when the week starts. There is just no way to predict something like this; only that the possibility exists because if PA is going to drop this upcoming week, it would be natural for the PPMs to drop it and then hike frequently, heavily shorting on each hike and making the hikes as high as is profitable for them to do so.

I guess the reason for my feeling that PA might go down first is based on the EU chart. Friday, during the last eight hours of the day, PA was held up around the whole number. And the closing bid marks the S/R area, then being retested as resistance. There is also the upper TL being retested. So, unless PA breaks the TL up, it will likely drop. If it drops, so will EJ. But after an EU drop, it might too come back up. If so, so will EJ.

That is a lot of speculation, and nothing to make any trade decision on. As you stated, it is best to wait and see what happens during the first eruo trading. And, even if EJ does drop over the week, there could still be SonicR long setups, too.
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  • #14,948
  • Oct 31, 2010 6:25pm Oct 31, 2010 6:25pm
Quoting traderathome
PositivePip,

What is "defo"? I thought you might be using that as an abbreviation for "direction forward", but then that would be "difo".
DEFO means "Definitely"
  • #14,949
  • Nov 1, 2010 5:22am Nov 1, 2010 5:22am
No volume on this one.
Hope it goes well.
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  • #14,950
  • Edited 10:32am Nov 1, 2010 8:45am | Edited 10:32am
Quoting traderathome
AU:

Closed short trade for 72 pips profit and have now re-entered at same EP.
Added to short per attached pic. Last week ran successful short, but then re-entered in same EP on pullback. Unfortunately, PA kept right on going up. Current TP is below current EP short average, and is tentative.

Per added 2nd pic, you can see this can drop substantially, 70-150 pips. But, as stated with GU below, if a move does not happen today (and it is already late) there could be more pullups tomorrow (asian, euro, US?) before it happens. Then again, maybe not. One cannot know this, but should be aware of the possibility.
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  • #14,951
  • Edited 10:45am Nov 1, 2010 10:00am | Edited 10:45am
Have added per pic. Previous EP short is much lower. As with AU, expecting some downside to begin, so TP is tentative.

As you can see from the 2nd chart added, there might be an opportunity for 100+ pips down from EP, a good trade if it runs. If it doesn't today (since late already), there might be another pullup (asian, euro, US?) before a run. There is just no way to be sure of such things.
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  • #14,952
  • Nov 1, 2010 2:46pm Nov 1, 2010 2:46pm
Hi All

A big thank you to Sonicdeejay and everyone else who is keeping this thread alive in Sonicdeejay’s absence

Have read thread from beginning to end and want to start posting comments on potential trades I think fit the Sonic R criteria. Would like some feedback on whether I am on the right track or not.

Before doing so I would like some guidance on how to save chart images from MT4 platform in correct format to post on forum. Would also like to know how to draw lines and write on image to give explanation on why I would consider taking trade and where I would place my EP. SL and TP

Look forward to engaging and with Sonic R followers and educating myself using the Sonic R style of trading
  • #14,953
  • Nov 1, 2010 10:16pm Nov 1, 2010 10:16pm
Welcome, hinemihi1

Here's how to save chart images:

in mt4: file --> save as chart --> active chart -- follow prompt to save on your desktop (see attached picture)

then to post in this thread, when you have "Reply to Thread" open, click "Attachments (paperclip)", browse thru your desktop to retrieve picture,
and upload to your post.


how to draw lines:
1. on active chart: in mt4, Insert --> Lines --> (select type of line)
or
2. on saved chart image: open captured screen picture in graphics program of your choosing (Paint, etc.) and use that program to draw lines on image


how to write on chart:
1. on active chart: in mt4, Insert --> Text --> follow prompts
or
2. on save chart image: open captured screen picture in graphics program of your choosing (Paint, etc.) and use that program to write text on image

Maybe other SonicR followers have other ideas; just how I do it.

Take care
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  • #14,954
  • Nov 2, 2010 12:04am Nov 2, 2010 12:04am
Thanks Cardinale

I managed to fumble my way copying and drawing on chart image. Really appreciate your advice

Can anyone tell me in New Zealand time when the London and New York markets open. The vertical time lines on the template I downloaded appears to be incorrect. It is showing the London market opened 2 hours ago. These lines are a wonderful idea by the way

It is 8:04pm where I am right now
  • #14,955
  • Nov 2, 2010 12:49am Nov 2, 2010 12:49am
Quoting hinemihi1
Thanks Cardinale

I managed to fumble my way copying and drawing on chart image. Really appreciate your advice

Can anyone tell me in New Zealand time when the London and New York markets open. The vertical time lines on the template I downloaded appears to be incorrect. It is showing the London market opened 2 hours ago. These lines are a wonderful idea by the way

It is 8:04pm where I am right now...
For London it would be 9 pm and for New York 2 am
"The future is already written in the past"
  • #14,956
  • Edited 2:26am Nov 2, 2010 1:07am | Edited 2:26am
Might go up?

TP1 hit.
Half closed.
Half SL moved BE +1
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  • #14,957
  • Nov 2, 2010 3:19am Nov 2, 2010 3:19am
After finally being able to sort out how to copy and draw on image. I am ready to present my first Sonic R trade using a demo account

After timing I know but hopefully will get better at posting before the event occurs within the next day or two

I have attached 2 images with this message and will post a 3rd in my next message as I have used up the required message space

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  • #14,958
  • Nov 2, 2010 5:24am Nov 2, 2010 5:24am
TP 2 hit.
Second half closed.
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  • #14,959
  • Edited Nov 3, 2010 3:17am Nov 2, 2010 2:39pm | Edited Nov 3, 2010 3:17am
Can asian session ride this?

TP2 hit
Second half closed
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  • #14,960
  • Edited 3:41pm Nov 2, 2010 3:26pm | Edited 3:41pm
AU:

Taking this short during the asian session.
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