there was a little color mistake in it. was updated now.
trade sonic r - trade well
enigma4x
enjoy my life ... and ride the waves - all what I do 
- #18,381
- Mar 15, 2011 5:12am Mar 15, 2011 5:12am
- | Joined Jan 2011 | Status: Just a trader of trades ... (5 | 1,439 Posts
there was a little color mistake in it. was updated now.
trade sonic r - trade well
enigma4x
- #18,383
- Mar 15, 2011 6:08am Mar 15, 2011 6:08am
just want to ask Master's opinion on this entry to USDCHF short:
was EP ok to be placed right on 0.9200? where was best place if no?
TP1 already hit. SL moved to 0.9220 so in case of hit I'd be with no loss but with no proffit as well. just afraid that if I'l put SL to proffit zone it will have mor echances to be hit. plan to move SL to profit zone if price will go lover DS2 later.
looking for your kind comments
was EP ok to be placed right on 0.9200? where was best place if no?
TP1 already hit. SL moved to 0.9220 so in case of hit I'd be with no loss but with no proffit as well. just afraid that if I'l put SL to proffit zone it will have mor echances to be hit. plan to move SL to profit zone if price will go lover DS2 later.
looking for your kind comments
- #18,391
- Mar 15, 2011 8:52am Mar 15, 2011 8:52am
Just my opinion...
- #18,395
- Edited 11:23am Mar 15, 2011 11:08am | Edited 11:23am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Yes, I've been reading few times but havent found RgH/L explained clearly
p.s. is it ok that there is very small difference in prices of DS/DR for few pips? I believe it is noraml due to slight difference in prices between brokers.
RgL and RgH actually do have a lot to do with SonicR, as they indicate support and resistance, as much as anything else does. They just do it differently. SonicR is predicated on learning how to read past PA to find areas of SR. RgL and RgH point out such areas based not on historic HLs, but on math applied to find historic average amount of movement daily. Many, many days PA will land right at, or near these target levels before receding and closing the day.
Yes, pivots SR (Daily or Fibonacci formula) will differ between brokers, even if they are using servers based on the same time zone, because their order flow PA HLs might be slightly different.
When settling on the use of any method for finding SR, we need to keep in mind the overriding fact that SR is an area, not an exact level. Even if it were an exact level, PA almost always overshoots or undershoots the target due to market momentum or lack thereof. Therefore, seeking exactness is folly. Finding an area of SR and being conservative instead of greedy, has merit. One purpose of RgL/RgH is to provide a perspective on targets; what targets might be reasonable and what might be stretching it too far.
In the end, the market has the last word on how far PA goes and what targets were reasonable.
- #18,397
- Mar 15, 2011 11:43am Mar 15, 2011 11:43am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
UChf:
I am already in this long, at a higher EP, but added on this current drop. EP average is 0.9285 now. As Sonic would say, "stopping volume". Yes, indeed!
- #18,399
- Mar 15, 2011 4:51pm Mar 15, 2011 4:51pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
With all due respect, I must disagree TAH.
Range average is different from support and resistance zones. If you argue that price often lands right at RgL/RgH levels, how can you prove that the land was caused by range average levels and not by historic HLs levels? Because surely, whatever the RgL/RgH levels are, I can extend those lines into past only to find out that they converge with historic HLs.
Yes indeed!
So therefore, the RgL/RgH lines are not only a mathematical way of spotting S&R based on the average of the recent daily ranges, they will also tend to line up with some historic HLs, which is to say that confirms their validity.
The Sonic R System is all about "seeing" likely support and resistance for ongoing PA. And any way that the trader uses to help them see S&R is valid. The use of RgL/RgH falls into the same catagory as the use of pivots and fibonacci studies, all of which can be useful in finding S&R and in selecting targets. Personally, I find the RgL/RgH S&R lines good for gaining some perspective of what distance out for targets might be reasonable, and also as a source of confrimation of S&R that is derived in other ways (confluence).