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Sonic R. System

  • #15,061
  • Nov 10, 2010 2:49pm Nov 10, 2010 2:49pm
I am not taking this because it is late in the session. Nor am I recommending anyone jump in now. However, the current setup serves to emphasize the strong sell off from the previous high. And now, during this low volume time of the day while it is easier for the PPMs to push the price back up some, that is what they are doing; resetting the PA higher again in advance of another leg down. Of course, Thursday's asian and euro session may add to the pump back up, which is why it might be best to wait this out. Tomorrow, in prime trading hours, we may see a new SonicR short setup with a higher EP zone. Warning: this is speculation.

Let the market decide.
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  • #15,062
  • Edited 4:27pm Nov 10, 2010 4:12pm | Edited 4:27pm
EJ:

Don't forget this one. Both EJ and UJ are in a down trend, but this formation has existed for some time now. It is a predominant formation. And time has done a nice job on the "handle". There is the potential for 2,500 pips here. If PA attempts to complete this formation, there should be good SonicR trading in both directions because there should be good pullups along the way down to the 88.00 level area. But short trades will be less risky.
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  • #15,063
  • Edited 7:58pm Nov 10, 2010 4:39pm | Edited 7:58pm
If one does trade the asian session, AU can be one of the better ones to watch. Currently this is set up for a short.

Edit: Added 2nd chart. With a 50 pip pump back up to whole number area, followed by a 100+ pip dive to below the next lower whole number area, all in just a few TFs, and then in the price is worked right back to where this all started from......there can be no doubt where AU is headed.
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  • #15,064
  • Nov 10, 2010 8:30pm Nov 10, 2010 8:30pm
Quoting traderathome
Redrew the FR study, now beginning one high further back in time. This shows the price was pumped up to the FR 79% retrace area. And this prompts the comment that the extent of this pump may only further support the premise that EU is being set up for a whopping drop, and those that can afford to manipulate the price up must be deciding it will be profitable to do so now to gain higher prices for shorting. Warning: this is speculation.

Edit: Added again at whole number highs. EP avg now 1.3769. Updated M15.

Let the market decide.
Added to short again. EP avg now 1.3779 per pic.
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  • #15,065
  • Nov 10, 2010 10:04pm Nov 10, 2010 10:04pm
EU:

I believe EU is about to start dropping, a trend reversal from up to down. This is speculation based on the following.

The Daily chart shows PA has already tested a major SR area. The next run down might be the one that truely breaks it. If this happens, PA likely runs some before coming back up sometime later to re-test the SR area from the bottom side. After that, more serious downside could start.

The M15 shows PA ranging, and also that test of the SR. This is where PA dropped out of the range for a time. Note that the drop started with a pin bar first moving the price up, followed by a real hard drive down. To me, this looks like the first serious selloff move. PA was rescued/fall halted and then worked back up.....more exchanging of longs for shorts along the way, more ranging/consolidation as this process continues.

Again, this is speculation. Time will tell. Let the market decide.
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  • #15,066
  • Edited 4:17am Nov 11, 2010 3:58am | Edited 4:17am
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  • #15,067
  • Nov 11, 2010 4:52am Nov 11, 2010 4:52am
Eynshteyn! I'd like to reinforce your observation. The pink line is the ema 200, an old friend of the trend. A major forex barrier to prices being broken. Let's see if it confirms..
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  • #15,068
  • Nov 11, 2010 5:31am Nov 11, 2010 5:31am
I have a FE %50 entry on this
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  • #15,069
  • Edited 6:42am Nov 11, 2010 6:31am | Edited 6:42am
napali that's how I see input and Profit. blue SMA 200 Simple
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  • #15,070
  • Nov 11, 2010 9:07am Nov 11, 2010 9:07am
TP1 hit. Half closed, SL moved BE.
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  • #15,071
  • Nov 11, 2010 9:46am Nov 11, 2010 9:46am
GU:

Unlike EU, this continues to range. My speculation is the PPMs are using the range to close longs and acquire shorts. Today is a US banking holiday, so maybe the plan is simply to use today to "adjust" their positions. Friday all the PPMs will be onboard, and a move should be generated then.
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  • #15,072
  • Nov 11, 2010 10:13am Nov 11, 2010 10:13am
Quoting traderathome
EU:

I believe EU is about to start dropping, a trend reversal from up to down. This is speculation based on the following.

The Daily chart shows PA has already tested a major SR area. The next run down might be the one that truely breaks it. If this happens, PA likely runs some before coming back up sometime later to re-test the SR area from the bottom side. After that, more serious downside could start.

The M15 shows PA ranging, and also that test of the SR. This is where PA dropped out of the range for a time. Note that the drop started...
TP1 has been reached. I closed half the trade for 120 pips profit. Within the hour the London traders will quit. Since today is a US banking holiday, there is no telling what the rest of the day will be like. More downside? Maybe. But also maybe PA will stagnate and tomorrow the first course of action might be to put PA back up high so everyone can "reload" for another run down. I have left half running just in case we get substantially more downside today. If so, I'll close all and look for PA to be reset higher tomorrow for re-entry short.
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  • #15,073
  • Nov 11, 2010 10:52am Nov 11, 2010 10:52am
EJ:

For those of you using both the Trend Line (89 ema) and a 200 sma, you should find the EJ M15 chart interesting. It looks like the Trend Line is poised to cross down thru the 200 sma. The rest of today may be lackluster, but EJ can move in tomorrow's asian session. There may be a crossing by then. Around the time of crossing, or shortly thereafter (asian session?) PA might be spiked up to the crossing level preceding a run down. This is pure speculation. But if it happens, then we might also get a new SonicR short setup, or at least a clear re-entry setup.
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  • #15,074
  • Nov 11, 2010 12:01pm Nov 11, 2010 12:01pm
Quoting traderathome
GU:

Unlike EU, this continues to range. My speculation is the PPMs are using the range to close longs and acquire shorts. Today is a US banking holiday, so maybe the plan is simply to use today to "adjust" their positions. Friday all the PPMs will be onboard, and a move should be generated then.
This could break loose for a bit of a run late in the session.....
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  • #15,075
  • Nov 11, 2010 12:20pm Nov 11, 2010 12:20pm
A down move without volume. Can this one be an alternative?
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  • #15,076
  • Edited 12:57pm Nov 11, 2010 12:37pm | Edited 12:57pm
Quoting dksolo
A down move without volume. Can this one be an alternative?
Dksolo, it is very hard to tell the TF on your charts since there is no such label. Can you do somethng about that? The whole idea behind Sonicdeejay's rule, "No pic, no post." is to make every post as informative, and as easy to understand, as is possible. Thanks.

From the attached M15, you can see both the Dragon and Trend are angling down now. And the Asian and Euro boys put some good "volume" of trades into this while it ranged. Since EU is headed down, I speculate GU is not far behind. I have been waiting for PA to make another trip to top of range to add to short. But, if it does run down in this last part of the day, I will not consider adding unless/until there is a very strong push back up.....which the asian traders might manage if it falls good before they next come to the table.

Edit: Ok, I recant. I decided to engage in a small separate short on this one. Entered per pic. Not expecting much. Will just see how it plays out thru balance of day.
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  • #15,077
  • Nov 11, 2010 12:55pm Nov 11, 2010 12:55pm
Thank you all for your patience.
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  • #15,078
  • Edited 1:51pm Nov 11, 2010 1:27pm | Edited 1:51pm
Per previous post, I entered a small short trade at EP = 1.6105. I have added at 1.6115, for an EP average of 1.6110, and I will add again if bid hits 1.6125. This trade is separate from the other GU short that has been running for some time now. The TP is tentative. I might pull the trade at the FE 127% level or maybe the DPV area if PA gets there, but in a sluggish fashion.

Edit: Since we are in the last hours of the day, the "US only" part of the day, and since this is a US bank holiday, one cannot expect much activity. Things may go stagnate any moment. That last spike down was likely some outfit getting short orders filled, and having to go lower and lower to do so. But still, in a good price range. And the outfit might have figured it best to do so, if they believed that tomorrow the price will be worked down. This is all speculation, though.

Let the market decide.
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  • #15,079
  • Nov 11, 2010 1:54pm Nov 11, 2010 1:54pm
I have closed the balance of the trade at the TP1 price also. Will look for a pump tomorrow and possible re-entry at a higher price if that happens.
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  • #15,080
  • Nov 11, 2010 2:07pm Nov 11, 2010 2:07pm
Traderathome you are the heart of this forum system

Good to see your post mesages everyday,keep you doing well

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