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Sonic R. System

  • #15,581
  • Dec 6, 2010 7:09am Dec 6, 2010 7:09am
EU short trade. FE entry without volume...
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  • #15,582
  • Dec 6, 2010 8:00am Dec 6, 2010 8:00am
Quoting kevinchan
Hi,

I appreciate your input, but here's what I am looking at.

Hi all,

Had been away and just returned. Very little action so far. Anyway
closed my E/G at BE.
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  • #15,583
  • Dec 6, 2010 10:41am Dec 6, 2010 10:41am
GU Short
I took this FE.
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  • #15,584
  • Dec 6, 2010 10:42am Dec 6, 2010 10:42am
Hi Guys

Got in on EU M15 a bit later than I would have liked, over selpt..aarrgghh ...lol

But ended with about +30 & +10 at one point I nearly took it off at +30 & +50, but sat on my hands , to my detriment on this one....But a plus is a plus !!

Still having problems with the Pivot points, they dont seem to be correct.

Im in London, my broker is +2 and I want Pivots set to NY so I have them at -4.....read the instrctions , but they still dont appear correct to me...comments welcome about the trade and the Pivots.

Cheers


ab1

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  • #15,585
  • Edited 4:04pm Dec 6, 2010 12:54pm | Edited 4:04pm
Quoting ab1
Hi Guys

Got in on EU M15 a bit later than I would have liked, over selpt..aarrgghh ...lol

But ended with about +30 & +10 at one point I nearly took it off at +30 & +50, but sat on my hands , to my detriment on this one....But a plus is a plus !!

Still having problems with the Pivot points, they dont seem to be correct.

Im in London, my broker is +2 and I want Pivots set to NY so I have them at -4.....read the instrctions , but they still dont appear correct to me...comments welcome about the trade and the Pivots.

Cheers


ab1

Attachment ...
Ab1, is your broker GMT+2 now? If it is, then it would be GMT+3 during DST, and that should be the input for the broker server. If your two GMT inputs are correct according to a check using the Clock Panel indicator, then probably what is happening is this....

If all the different brokers (different being based on their server's time zone) were to set the TzPivots indicator to yield NY based pivots, probably NONE would be the same! This is due to the fact that the indicator must use the price data off the server of your broker, and each broker will most likely have slightly different price data (OHLC), believe it or not! Some brokers close down two hours before the end of the forex market on Friday. Some start up an hour later then the open the following week. And all brokers are likely to have data (OHLC) a pip, or several pips, difference from others each day thru the week.

So, what ever you are comparing to, differences on the first day of the week can be greater than on the following days. But every day there will likely be some differences, up to several pips at computed levels, between any two sources of price data coming from different brokers.....even if their servers are in the SAME time zone!

Hope this helps. Don't try to be too exacting with stuff like this. because it really doesn't make much difference. Sometimes PA will hit numbers on the head, numbers from pivots, or fibs, or what not. And sometimes it doesn't. PA runs tend to undershoot or overshoot targets. And that is just the way the market is.
  • #15,586
  • Dec 6, 2010 1:21pm Dec 6, 2010 1:21pm
PA hit SL. EU and GU short trades are closed...
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  • #15,587
  • Dec 6, 2010 1:55pm Dec 6, 2010 1:55pm
Quoting traderathome
Ab1, is your broker GMT+2 now? If it is, then it would be GMT+3 during DST, and that should be the input for the broker server. If your two GMT inputs are correct according to a check using the Clock Panel indicator, then probably what is happening is this....

If all the different brokers (different being based on their server's time zone) were to set the TzPivots indicator to yield NY based pivots, probably NONE would be the same! This is due to the fact that the indicator must use the price data off the server of your broker, and each broker...
Thanks appricate the info...I will make the adjustment and see what difference it makes over the coming days, its not the first time Ive encountered this problem and probably wont be the last.... Mondays always, as you point out, is the worst day, so it makes complete sense what your saying.

It came about because I have MT4 normally open for charting, but use "Trade Station 2 (UK) Spread Betting", for orders.....anyway I had there charts open aswell today because you can control orders much better and on the fly straight off the charts, like moving stops and limits etc with your mouse.... so I have those charts set up like yours as close as I can and the pivot indicator on there charting package is Daily NY close and there was a difference which made it difficult to decide which targets I as aiming for

Thanks again ..another nice sonic day at +40
  • #15,588
  • Dec 6, 2010 6:13pm Dec 6, 2010 6:13pm
EU:

Like yesterday, the asian session kicks off to a start with a selloff on more than twice the average volume. So again, like yesterday, this might set the tone for the session; bearish.

In fact, we have a nice WAVE and EP, it is just that we are far from the prime trading hours. As I am already in this short, I will just wait. Late yesterday I added to the short again, so EP is now 1.3226 and well within range if today gives us more downside.
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  • #15,589
  • Dec 6, 2010 6:35pm Dec 6, 2010 6:35pm
Quoting traderathome
EU:

Like yesterday, the asian session kicks off to a start with a selloff on more than twice the average volume. So again, like yesterday, this might set the tone for the session; bearish.

In fact, we have a nice WAVE and EP, it is just that we are far from the prime trading hours. As I am already in this short, I will just wait. Late yesterday I added to the short again, so EP is now 1.3226 and well within range if today gives us more downside.
Just a quick glance, I see t spike in vol whenever price hit low???
Could be a sign of rebound up,after consecutive decline...

Sonic
  • #15,590
  • Dec 6, 2010 6:40pm Dec 6, 2010 6:40pm
AU:

Selloff here too, on greater than twice average volume.
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  • #15,591
  • Edited 7:30pm Dec 6, 2010 6:56pm | Edited 7:30pm
Quoting sonicdeejay
Just a quick glance, I see t spike in vol whenever price hit low???
Could be a sign of rebound up,after consecutive decline...

Sonic
Edited: I have edited the wording to try and make it more clear. Hope this helps.

Sonic, I like to drop down to the M1 and take a gander at what the volume bars look like there. In this case, and with AU also (see pic) high volume came in preceding the drop...setting up for it. The drop was a high volume thrust down, then PA rebounded on miniscule volume, which does not indicate heavy buying. Instead, it indicates they tried to get the price back up, with as little trades as possible, for another round of selling . Once at the top, then came additional higher than average volume thrusts down again.

I interpret this as a selloff (heavy short order executions). If it was a torpedo to buy, the rebound rise would have been with heavy volume. This is a subtle difference, I know. And all is subject to interpretation, to be sure. Follow-on PA will let us know. But, boy, that sure is an oustanding minute of AU trading!
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  • #15,592
  • Dec 6, 2010 7:07pm Dec 6, 2010 7:07pm
EU and AU:

Higher TF reasons for thinking today might be bearish.....
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  • #15,593
  • Edited 8:54pm Dec 6, 2010 7:55pm | Edited 8:54pm
GU:

M15 shows a volume spike with an upside candle. Should I say it is buying, if the other examples (EU and AU) were of selling? No. Why? Well if we look at the M5, we can see the high trading occurred AFTER the price was popped up! So, I'd again call that a selloff, or heavy shorting as they drove the price up!

So, here also we have an early session example of bearish price behaviour.

Edit: Added 3rd chart. You can see the reason for the price pump by looking at the very last volume bar! Pump and Dump! Doesn't mean price stops here, but it does mean the price climb is price manipulation by those wanting to build short positions at higher prices, and that have the monetary means to move the price higher where their short orders lie waiting for execution.

Edit: Added 4th chart. There is the proof.
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  • #15,594
  • Dec 6, 2010 8:40pm Dec 6, 2010 8:40pm
EU:

In light of what I feel is a bearish outlook for today, I have again added to my EU trade. Average now is 1.3237. No TP is yet set. This is just the asian session and the euro traders may arrive with a pump in mind also.
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  • #15,595
  • Dec 6, 2010 9:19pm Dec 6, 2010 9:19pm
Quoting traderathome
EU:

In light of what I feel is a bearish outlook for today, I have again added to my EU trade. Average now is 1.3237. No TP is yet set. This is just the asian session and the euro traders may arrive with a pump in mind also.

I have learn so much from you Tradeathome and all the guys and ladies on this forum and i just want to say thanks and i share your sentiments as well TAH on AU and EU being bearish.
  • #15,596
  • Edited 9:54pm Dec 6, 2010 9:31pm | Edited 9:54pm
Quoting row
I have learn so much from you Tradeathome and all the guys and ladies on this forum and i just want to say thanks and i share your sentiments as well TAH on AU and EU being bearish.
One last add. Average now 1.3248, and that is it. One day, two, three, a week? Who knows, but this will reverse. I'll sit and wait it out now.
Edit: And my outlook for AU for this session is per added 2nd chart. I am in this short from yesterday as shown.
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  • #15,597
  • Dec 6, 2010 11:19pm Dec 6, 2010 11:19pm
EU:

This session, particularly the Frankfurt/early London part may show the future for this thru the week. There is a medium impact EUR release in 3 hours after the London Open. And PA is coming to a crossroads.
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  • #15,598
  • Dec 7, 2010 12:19am Dec 7, 2010 12:19am
Quoting traderathome
GU:

M15 shows a volume spike with an upside candle. Should I say it is buying, if the other examples (EU and AU) were of selling? No. Why? Well if we look at the M5, we can see the high trading occurred AFTER the price was popped up! So, I'd again call that a selloff, or heavy shorting as they drove the price up!

So, here also we have an early session example of bearish price behaviour.
Is it possible if you can add an alert (pop-up with sound & email) when there is more than twice the avg volume (alerts on close of candle).

Thanks.
Kevin
  • #15,599
  • Dec 7, 2010 12:34am Dec 7, 2010 12:34am
GU: M5
Big volume just ahead of London open, time to short?
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  • #15,600
  • Dec 7, 2010 1:25am Dec 7, 2010 1:25am
EU looks like a good move is about to come to decide the trend in the 4H
touching 89MA on the 3rd hike.

any thoughts?
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