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Sonic R. System

  • #14,961
  • Nov 2, 2010 6:24pm Nov 2, 2010 6:24pm
EURJPY will break out soon. But to which direction? I am waiting for some confirmation.
113.19 is an important S/R level
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  • #14,962
  • Nov 2, 2010 6:46pm Nov 2, 2010 6:46pm
Today.
  • #14,963
  • Edited 7:08pm Nov 2, 2010 6:49pm | Edited 7:08pm
Quoting PositivePiP
EURJPY will break out soon. But to which direction? I am waiting for some confirmation.
113.19 is an important S/R level
Been watching it too. Will it make a triple top and drop? Will it go up? Or, will it stagnate and just oscillate up and down? There is no headline catalyst to activate buyers/sellers, so the only motive for a move would just be greed...."push for profit" so to speak. And THAT means, as you imply, it could go either way.

There is a high impact EUR release in less than two days, and only low impact stuff between now and then. If it is to drop, then would be the time. Meanwhile you'd think they'd pump it up, if a drop is the plan. If the release is expected positive, and the plan is to move it up, then it could be worked down between now and then. There is just no telling what is in store until we some price action.
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  • #14,964
  • Nov 2, 2010 7:24pm Nov 2, 2010 7:24pm
Quoting traderathome
AU:

Taking this short during the asian session.
Price is being moved up ahead of High Impact release upcoming in minutes. Removed SL. Might add to short if it goes really high.
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  • #14,965
  • Nov 2, 2010 7:42pm Nov 2, 2010 7:42pm
EURJPY looks confused a bit... Its expanding at the moment, it may ranging for hours. I would not make an entry in this session.
Let the market decide.
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  • #14,966
  • Edited 10:42pm Nov 2, 2010 8:04pm | Edited 10:42pm
Quoting PositivePiP
EURJPY looks confused a bit... Its expanding at the moment, it may ranging for hours. I would not make an entry in this session.
Let the market decide.
I think you are right. There are High Impact USD relasese after the US Open, and for a couple of hours then. It looks like nobody is going to do much of anything until then. I am in AU short (third EP....part of longer, and up to now badly running, short). I'll leave it at that for now.

Edit: PA has constructed good HL sequence, created EP, pulled up and then dropped thru EP to the Trend Line just below the whole number, and is now pulling up to the EP area again. Dragon is angled down. I have entered short.
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  • #14,967
  • Edited 12:11pm Nov 3, 2010 2:18am | Edited 12:11pm
EU for today, is this a proper sonic entry?

SL hit -40 pips
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  • #14,968
  • Nov 3, 2010 3:27am Nov 3, 2010 3:27am
Quoting dksolo
EU for today, is this a proper sonic entry?
dksolo, for better perspective, look at higher TF all the time, judging from the 1H and 4H chart there is no sign for EU to go lower - the trend is up and there are no signs of reversal (divergence, key resistance lvls e.t.c).
  • #14,969
  • Nov 3, 2010 5:48am Nov 3, 2010 5:48am
I tought resistances in the channel might work.
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  • #14,970
  • Nov 3, 2010 6:19am Nov 3, 2010 6:19am
Long EC

Hi Folks, been away for awhile. Let's see if this works out...

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"Be the change that you wish to see in the world." --Gandhi
  • #14,971
  • Nov 3, 2010 9:54am Nov 3, 2010 9:54am
Quoting traderathome
Price is being moved up ahead of High Impact release upcoming in minutes. Removed SL. Might add to short if it goes really high.
If this breaks the DPV, the trade might finally run.
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  • #14,972
  • Nov 3, 2010 9:54am Nov 3, 2010 9:54am
Stopped out, -20 pips. After I got in, the market just languished sideways forever. I probably should have gotten out with a smaller loss, but I held on hoping it would break to the upside.

Any feedback would be appreciated.
"Be the change that you wish to see in the world." --Gandhi
  • #14,973
  • Edited 10:39am Nov 3, 2010 10:12am | Edited 10:39am
Quoting Wally1953
Stopped out, -20 pips. After I got in, the market just languished sideways forever. I probably should have gotten out with a smaller loss, but I held on hoping it would break to the upside.

Any feedback would be appreciated.
The Daily chart shows PA in area of S/R, and maybe the S has turned R. More PA is required to show direction. M30 shows PA ranging, as though waiting for a catalyst to send it one way, or the other. There is a Medium Impact CHF release in about 1 hour, which might be the catalyst.

Edit: I added dotted S/R lines to M30. At this point my vote would be for the PA to drop, because the Dragon is now sloped down and the Trend Line is also in decline since yesterday. However, even if PA does drop, it might first (just before, at, or just after the upcoming release) pop up. My vote is speculation, so let the market decide and make your own decisions.
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  • #14,974
  • Nov 3, 2010 11:29am Nov 3, 2010 11:29am
In less than 2 hours there is a High Impact USD release, which could be the catalyst for a move. If you look at both EU and GU, see that the Dragon is angled down and the Trend Line is beginning to go flat. PA has made a good sequence of lower HLs, is below the Dragon at this time, and looks to be consolidating for whatever next move is to come.
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  • #14,975
  • Edited 7:40pm Nov 3, 2010 11:56am | Edited 7:40pm
I was reading thru early posts last evening and thought to make a post on EP, as a refresher for Sonikers and folks new to Sonicdeejay's thread.

Sonicdeejay has stated that EP should be decided upon after the candle that runs out of the Dragon is closed, and that EP should be beyond the close of that candle. He has stated that he prefers to select an EP that ends in the numbers "4" or "7", and he also states that he prefers to select an EP that is a mnimum of 10 pips beyond. Reflecting on this, EP should be no closer than the next price that ends in "4" or "7" that is a minimum of 10 pips beyond the close of the candle coming out of the Dragon. As you can see, Sonicdeejay is not concerned with being greedy for pips when selecting an EP.
  • #14,976
  • Nov 3, 2010 7:59pm Nov 3, 2010 7:59pm
Quoting traderathome
I was reading thru early posts last evening and thought to make a post on EP, as a refresher for Sonikers and folks new to Sonicdeejay's thread.

Sonicdeejay has stated that EP should be decided upon after the candle that runs out of the Dragon is closed, and that EP should be beyond the close of that candle. He has stated that he prefers to select an EP that ends in the numbers "4" or "7", and he also states that he prefers to select an EP that is a mnimum of 10 pips beyond. Reflecting on this, EP should be no closer than the next price that...
Let's recall, however, that when Sonic launched this thread, currency pairs were moving hundreds of pips/day - extreme volaitility due tot he finanicial crises of 2007-2009.

Since current volatility is less than half what it was then, so a 5 pip EP or 2x's spread (whichever is greater) is probably a sound distance to place your entry stop. This can be adjusted over time as volatility either contracts further or again expands.
  • #14,977
  • Nov 3, 2010 8:50pm Nov 3, 2010 8:50pm
Quoting ddaytrader
Let's recall, however, that when Sonic launched this thread, currency pairs were moving hundreds of pips/day - extreme volaitility due tot he finanicial crises of 2007-2009.

Since current volatility is less than half what it was then, so a 5 pip EP or 2x's spread (whichever is greater) is probably a sound distance to place your entry stop. This can be adjusted over time as volatility either contracts further or again expands.
hi guys:

very sphisticated system!! I agree with ddaytrader's idea of adjusting the EP base on volatility. one thing I haven't got clear idea is the trading hours. Sonic suggests EST 1 am to 4 am and 7 am to 11am. is this time base on system backtest? or just pure trading wisdom? If this trading time was base on system backtest, then should we review it when the volatility change? or when we trade the AUD related pairs and stock index? (Sonic mentioned that he trade Hong Kong HSI)

hope your guys have discussed this issues before, and advsie on which posts.

Thank you
seeing through
  • #14,978
  • Nov 3, 2010 8:58pm Nov 3, 2010 8:58pm
Quoting ddaytrader
Let's recall, however, that when Sonic launched this thread, currency pairs were moving hundreds of pips/day - extreme volaitility due tot he finanicial crises of 2007-2009.

Since current volatility is less than half what it was then, so a 5 pip EP or 2x's spread (whichever is greater) is probably a sound distance to place your entry stop. This can be adjusted over time as volatility either contracts further or again expands.
Hi, ddaytrader! Good to hear from you, and good reasoning as always.
  • #14,979
  • Edited 9:44pm Nov 3, 2010 9:06pm | Edited 9:44pm
Quoting pipphunter
hi guys:

very sphisticated system!! I agree with ddaytrader's idea of adjusting the EP base on volatility. one thing I haven't got clear idea is the trading hours. Sonic suggests EST 1 am to 4 am and 7 am to 11am. is this time base on system backtest? or just pure trading wisdom? If this trading time was base on system backtest, then should we review it when the volatility change? or when we trade the AUD related pairs and stock index? (Sonic mentioned that he trade Hong Kong HSI)

hope your guys have discussed this issues before, and advsie...
Piphunter, Sonicdeejay's recommended trading hours is just plain smart. Those are the highest volume hours each day; the opening of the euro market which includes the first part of the London market, and the first part of the US market together with the last of the London market. And the higher volume tends to increase the momentum of moves, helping to assure, by and large, better runs than in the other hours.
  • #14,980
  • Nov 4, 2010 9:35am Nov 4, 2010 9:35am
any comment?
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