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Sonic R. System

  • #17,101
  • Jan 27, 2011 9:40am Jan 27, 2011 9:40am
Just seeing this. Very nice indeed
  • #17,102
  • Jan 27, 2011 10:01am Jan 27, 2011 10:01am
GU:

WAVE. Dragon down. PA below Trend. But we are now out of best hours. And, there are other considerations....

The candle exiting the Dragon ends about 25 pips out, which is quite a distance. It does place the EP however, straddeling the whole number which is natural support and an obstacle to a downside move. Normally, you'd want to let PA drop thru and pull back up to the whole number area....support turning resistance, so to speak.....before making entry.

So, while it looks good on the surface, it might be best to let this go for now. See if either PA completely drops thru the whole number and then comes back up to test it, or if we get another short setup later (or tomorrow). And see what that setup looks like.
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  • #17,103
  • Jan 27, 2011 10:33am Jan 27, 2011 10:33am
AU:

Looks like a great watchlist candidate for last day of week......asian session next up!

Weekly - Price is really quite high, isn't it?!
Daily - Price showing signs that maybe the PPMs agree.
H1 - We have a trend line break and retest!
M15 - And we have a good looking short setup. But be careful because we are out of best hours, and PA really needs to completely break down thru the whole number and come back to test it. But, sometimes there is no retest. With already the H1 trend line break and retest, PA could just drop thru the whole number and keep on going.
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  • #17,104
  • Jan 27, 2011 12:23pm Jan 27, 2011 12:23pm
UJ:

Another watchlist candidate.....

Daily - Price is at a PPZ. That is a Pivotal Price Zone; a place where support can become resistance and visa versa....a significant S&R area. And at the taking of this picture, with about 2 hours left in the day, the price has dropped off the day high to be at this PPZ. If the day closes here or lower, it is a bearish sign.

M15 - Lower highs, but no proper setup at this time = it could still go either way.

Due to the "Dow downgrade of Japan" news today that was used by PPMs as a catalyst to pump the price, this could be right back where it started, tomorrow or within days. I say this because looking at the volume on lowest TFs, after the pump the best volume during the rest of the day was at/near highs, or on price drops coming off highs. So, it has those markings of a Pump and Dump strategy by the PPMs. But because PA is now at a PPZ, a good trade either way could be next in the offering.
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  • #17,105
  • Jan 27, 2011 12:43pm Jan 27, 2011 12:43pm
hi,

I write this post just because i want to thank to TAH, BASBER, SONIC (and others) about this thread!
From time to time i read posts from here, and i enjoy seeing people doing their best in this fx world!

BEST OF THE BEST! If anyone wanna learn to trade, here is the place!

Keep up the good work guys!

Cheers,
DanPa
  • #17,106
  • Jan 27, 2011 10:11pm Jan 27, 2011 10:11pm
Quoting DanPa
hi,

I write this post just because i want to thank to TAH, BASBER, SONIC (and others) about this thread!
From time to time i read posts from here, and i enjoy seeing people doing their best in this fx world!

BEST OF THE BEST! If anyone wanna learn to trade, here is the place!

Keep up the good work guys!

Cheers,
DanPa
Nice to see you back, DanPa !!!
post a chart !!
Patience is the key.
  • #17,107
  • Jan 28, 2011 12:13am Jan 28, 2011 12:13am
AU:

This is setting up as a SonicR short. I entered on previous WAVE near start of asian session. Possible EP, SL and TP areas are marked in the picture with rectangles.
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  • #17,108
  • Jan 28, 2011 12:18am Jan 28, 2011 12:18am
EU:

This is a SonicR short Setup.
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  • #17,109
  • Jan 28, 2011 12:22am Jan 28, 2011 12:22am
EJ:

This is a SonicR short setup. Sorry for the late post. PA might do a pullback sometime during the London session, in case you missed the entry.
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  • #17,110
  • Jan 28, 2011 12:24am Jan 28, 2011 12:24am
Hi:

EU trade initialiced...
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"Being picky only cost your time - not MONEY"...Hans
  • #17,111
  • Jan 28, 2011 12:27am Jan 28, 2011 12:27am
GU:

This is a SonicR short setup. As with EJ, in case you missed it, maybe there will be a pullback. This is a case where the exiting candle ends much more than 20 pips out from the Dragon. So, I narrowed the EP zone rectangle to no more than 20 pips out.
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  • #17,112
  • Jan 28, 2011 12:29am Jan 28, 2011 12:29am
Quoting nando_rich
Hi:

EU trade initialiced...
Hi nando_rich,
Which wave you took at M30 chart?
  • #17,113
  • Jan 28, 2011 12:30am Jan 28, 2011 12:30am
what about this setup snokers? i am long in this position...
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  • #17,114
  • Edited 1:05am Jan 28, 2011 12:46am | Edited 1:05am
Quoting traderathome
UJ:

Another watchlist candidate.....

Daily - Price is at a PPZ. That is a Pivotal Price Zone; a place where support can become resistance and visa versa....a significant S&R area. And at the taking of this picture, with about 2 hours left in the day, the price has dropped off the day high to be at this PPZ. If the day closes here or lower, it is a bearish sign.

M15 - Lower highs, but no proper setup at this time = it could still go either way.

Due to the "Dow downgrade of Japan" news today that was used by PPMs as a catalyst to pump the...
UJ:

PA has pulled back 50% of yesterday's run up. Currently, the only WAVE is for a short. And coincidentally (or maybe NOT by coincidence) PA places the EP zone right at the 50% area! The Dragon is down. PA is below the Trend. So currently, this is a SoncR short setup.

Call me crazy, but it "feels" like it should move up!
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  • #17,115
  • Jan 28, 2011 12:52am Jan 28, 2011 12:52am
UChf:

This is a SonicR long setup. I am already in long at 0.9466.
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  • #17,116
  • Edited 1:31am Jan 28, 2011 1:12am | Edited 1:31am
UJ:

I edited last post on this to include a remark that this "feels" like it should go up. I decided to post a tentatively depicting chart here. Obviously, PA is undergoing consolidation in a tight sideways range. And a breakout could be in either direction. But in spite of the fact that the Dragon is down and PA is below the Trend, that could all change quickly. And this could become a long setup.

EJ and GJ still look a lot more bearish than bullish. And if EJ and GJ do not go up, the only way UJ is likely to go up significantly is for EU and GU to have the rug pulled out from under them; sudden dollar strength.
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  • #17,117
  • Jan 28, 2011 1:40am Jan 28, 2011 1:40am
Quoting dksolo
Hi nando_rich,
Which wave you took at M30 chart?
i took this wave.
Attached Image (click to enlarge)
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"Being picky only cost your time - not MONEY"...Hans
  • #17,118
  • Edited 2:56am Jan 28, 2011 2:28am | Edited 2:56am
EU:

Here is a study you can make whenever you feel there is a valid SonicR setup. It will help....

1. show possible exit targets
2. analyze PPM pullbacks before breakout, which will
3. show possible early/additional entry opportunities, and
4. show possible SL placement(s)

In the attached picture, after PA first moved down thru the EP area at the London open, the PPMs pulled the price back up, presumably to short sell at better prices. If this is indeed preparations for a later move down, then short selling above the FR 50% level is a good early/additional entry.

As long as "lower highs" holds up in the overall PA there is no danger of the short setup converting suddenly into a long drive. So, this is another reason to see what is going on with PA after the initial short setup. You want to be mindful that PA does not convert to showing higher lows in the area, and then shoot out upwards on a higher high move.

Placing the SL just outside the range top might make the most sense. Domas4 used the FR 88% level to place the SL just beyond. And the FR 127% level (outside the range) is often a target for extension breakouts. So a SL just beyond that might work in situations where you are confident of the setup/trade, but want to give it lots of room to accomodate a possible whipsaw before the trade takes hold.

Comments are welcomed.
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  • #17,119
  • Edited 3:49am Jan 28, 2011 3:34am | Edited 3:49am
Quoting traderathome
EJ:

This is a SonicR short setup. Sorry for the late post. PA might do a pullback sometime during the London session, in case you missed the entry.
Bingo!
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  • #17,120
  • Edited 3:48am Jan 28, 2011 3:38am | Edited 3:48am
Quoting traderathome
UJ:

PA has pulled back 50% of yesterday's run up. Currently, the only WAVE is for a short. And coincidentally (or maybe NOT by coincidence) PA places the EP zone right at the 50% area! The Dragon is down. PA is below the Trend. So currently, this is a SoncR short setup.

Call me crazy, but it "feels" like it should move up!
Bingo!
Attached Image(s) (click to enlarge)
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