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Sonic R. System

  • #15,001
  • Nov 4, 2010 9:45pm Nov 4, 2010 9:45pm
Quoting snusnufreak
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).
Long time no see

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #15,002
  • Nov 4, 2010 9:48pm Nov 4, 2010 9:48pm
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.
Just see this post ... don't HOPE for anything AFTER you entered a trade. you should consider all circumstances BEFORE you enter a trade. You could hope for a entry to reveal, but after you enter a trade, hope doesn't work. Maybe you knew this, but it's a basic attitude that leads to huge mistakes sometimes. It's better to be aware of ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #15,003
  • Nov 5, 2010 2:32am Nov 5, 2010 2:32am
Quoting traderathome
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.
I have added to the trade. Aside from that, it looks to be setting up anew for a short trade with the EP Zone from the 3/4 number down to the 1/2 number area.
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  • #15,004
  • Nov 5, 2010 2:49am Nov 5, 2010 2:49am
Quoting traderathome
Well, this trade continues to be a big joke on myself. Nevertheless, I have added again. I am running low on enthusiasm for this one, but eventually it will turn.
Added one last time to this as London Open traders pushed it back to previous highs. This is not SonicR trading. I trade light, so at times I can do this. But it is not a recommended manner of trading. Please understand that.
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  • #15,005
  • Nov 5, 2010 2:53am Nov 5, 2010 2:53am
First friday of the month.
I should stay away.
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  • #15,006
  • Nov 5, 2010 3:42am Nov 5, 2010 3:42am
GU:

Retesting DPV, which could be a re-entry opportunity to short.
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  • #15,007
  • Nov 5, 2010 4:17am Nov 5, 2010 4:17am
Quoting traderathome
Dksolo, NVO and Volumes Enhanced indys can be helpful. But do not use them alone as the basis for trading decisions. What I mean to say is, if there is a SonicR setup AND there is high trading activity just previous to, or leading into the setup, then you have some extra "confrimation". But, as we have already discussed, there were some "problems" with the basic setup here.

As an update on PA progress, believe it or not, as the day winds down PA has just breached the Trend Line. Will it drop hard today?! Even if it does, my guess is that we...
EJ:

Finally, it looks to be headed downwards.
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  • #15,008
  • Nov 5, 2010 4:51am Nov 5, 2010 4:51am
Quoting dksolo
First friday of the month.
I should stay away.
I stay away on the day of NFP release either ... Market's not very technical in those days ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #15,009
  • Nov 5, 2010 5:30am Nov 5, 2010 5:30am
This one hit TP1.
My proper Sonic entry is waiting 113.60 @ BE +1
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  • #15,010
  • Nov 5, 2010 5:57am Nov 5, 2010 5:57am
TP1 hit.
I closed all by accidently.
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  • #15,011
  • Nov 5, 2010 7:53am Nov 5, 2010 7:53am
TP 2 hit.
EJ closed BE.
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  • #15,012
  • Edited 12:30pm Nov 5, 2010 11:01am | Edited 12:30pm
GU:

Looks to be setup to drop. 50-75 pips before end of session possible.
Edit: Added 2nd chart as update. It could still happen. Meanwhile, PA is waffling about the DPV; consolidation above a whole number after already dropping from the next higher whole number. If this lets go, it is even possible PA could end up around next lower whole number. On a Friday? Well, yes. Or, PA could just stagnate here under ongoing consolidation until next week. Note that there is a high impact USD release in less than an hour. It could be the catalyst for a move if one hasn't already started by then.

Edit: Added 3rd chart, raising EP Zone.

Let the market decide.
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  • #15,013
  • Nov 5, 2010 12:54pm Nov 5, 2010 12:54pm
The USD high impact release is minutes away. PA has breached the lower channel line and is just sitting there.......
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  • #15,014
  • Nov 5, 2010 4:05pm Nov 5, 2010 4:05pm
What was that?
Closed BE +1
60 pip candle in one sec.
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  • #15,015
  • Nov 5, 2010 7:46pm Nov 5, 2010 7:46pm
Quoting dksolo
What was that?
Closed BE +1
60 pip candle in one sec.
Non-Farm Payroll ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #15,016
  • Nov 5, 2010 8:22pm Nov 5, 2010 8:22pm
Quoting dksolo
What was that?
Closed BE +1
60 pip candle in one sec.
Dksolo, I set my chart to M1 and back at the time around the US Open(you can see the "N" vline at 8am EST. The chart covers the NFP release time. At no time was there a 60 pip spike in one second. The greatest single move over one minute was right at 8:30am EST and for about 45 pips downwards, the direction of your short trade.

I don't see any broker WaterMark on your charts, so I don't know it is. But if you run into more of the same, you might consider changing brokers.
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  • #15,017
  • Nov 6, 2010 12:20am Nov 6, 2010 12:20am
Dksolo, I don't have such spike either..
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Patience is the key.
  • #15,018
  • Nov 6, 2010 8:58am Nov 6, 2010 8:58am
My time zone is CET +1, just before the market close i had a 60 pip candle as you see on the chart. That looked me a clean entry as TAH pointed before thats why i took this time a heavy trade hoping also a gap.
On the odges chart if its the last candle of the week close price is 1.6176 while mine was 1,6202. So i have no doubt that i will have an interesting conversation with my broker on monday.
Thank you all for your concern and have a great week-end.
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  • #15,019
  • Edited 12:31pm Nov 7, 2010 12:12pm | Edited 12:31pm
Quoting dksolo
My time zone is CET +1, just before the market close i had a 60 pip candle as you see on the chart. That looked me a clean entry as TAH pointed before thats why i took this time a heavy trade hoping also a gap.
On the odges chart if its the last candle of the week close price is 1.6176 while mine was 1,6202. So i have no doubt that i will have an interesting conversation with my broker on monday.
Thank you all for your concern and have a great week-end.
Dksolo, neither does FXDD nor IBFX show any such spike just before the close of the week (see attached M1 charts). As you can see from the FXDD and IBFX M1 charts leading up to the close last week, different brokers may experience different PA though it should not vary too much. I am not sure about this, but my guess is that each broker gets its data feed (which it in turn relays out to its software clienst, i.e., MT4) from its liquidity provider (some bank). If this is the case, then the broker might simply say the spikes are part of the data feed they get from their bank. That could be misleading, however, if the broker itself was responsible for the spike!

If I understand you correctly, you experienced not one, BUT TWO 60 pip spikes on Friday. One was around the time of the NFP release and the second was just before the close of the day. Since these spikes are not showing up on a number of other brokers data feed, and since they are EXTREME spikes, they certainly are suspicious.
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  • #15,020
  • Nov 7, 2010 8:29pm Nov 7, 2010 8:29pm
Have you ever felt.... like... you should ride it no matter what?
I felt the same but... call me chicken... or asian session. Will get back @ London open 8am GMT
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