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Sonic R. System

  • #21,561
  • Jun 13, 2011 11:15am Jun 13, 2011 11:15am
Quoting samuelngugi
hi,

ur most welcome. n welcome to sonic R
Samuel, thank you for assisting fendi.
  • #21,562
  • Jun 13, 2011 11:26am Jun 13, 2011 11:26am
Quoting traderathome
EU:

You can see that after the London session BBs left, the US BBs torpedoed the price for their own purpose of grabbing low in advance of a move back up. They took the price down to a local S&R area. Now price is breaking up thru the whole number. This is all bullish. Surely, more upside is to come today, or tomorrow.

But, as we know, the "market" is the one that determines all this.
i'm BE+20...let me see.
"Being picky only cost your time - not MONEY"...Hans
  • #21,563
  • Jun 13, 2011 11:27am Jun 13, 2011 11:27am
EU:

In terms of taking profit today, I am torn between four TPs, as shown on the attached chart. I am favoring TP2, thinking the US BBs made an extra effort to add positions, so they might be going for a high profit target. TP3 is ideal, since it aligns with a whole number, but is beyond the range for today, which could start to wind down. TP4 just seems too high for what is left for today.

If the lowest targets are not reached today, the highest ones might be best for tomorrow.

Comments on this are solicited.
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  • #21,564
  • Jun 13, 2011 11:50am Jun 13, 2011 11:50am
Quoting traderathome
GU:

70 pips profit on ES5 just closed.
29 pips profit on ES4 just closed.

Asian session trading has taken price down to the quarter number, where higher volume came in. It is also a FR 79% retrace of the last swing up. This area may act as support until the London session.
GU:

Added new ES4 at 1.6379.
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  • #21,565
  • Jun 13, 2011 11:52am Jun 13, 2011 11:52am
Quoting traderathome
EU:

In terms of taking profit today, I am torn between four TPs, as shown on the attached chart. I am favoring TP2, thinking the US BBs made an extra effort to add positions, so they might be going for a high profit target. TP3 is ideal, since it aligns with a whole number, but is beyond the range for today, which could start to wind down. TP4 just seems too high for what is left for today.

If the lowest targets are not reached today, the highest ones might be best for tomorrow.

Comments on this are solicited.
Take some off at tp 1 - maybe 2/3 and let the rest run -there is bound to be an reaction there - or at least a few pips before.

Just my 2 cents
"The future is already written in the past"
  • #21,566
  • Jun 13, 2011 12:00pm Jun 13, 2011 12:00pm
Quoting hansma
Take some off at tp 1 - maybe 2/3 and let the rest run -there is bound to be an reaction there - or at least a few pips before.

Just my 2 cents
EU:

Hansma, I am thinking you are correct. And because GU just completed a 50% retrace on H4, EU might not have much more rise left in it. So, if it pops to TP1, I am thinking to just close it all down.
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  • #21,567
  • Jun 13, 2011 12:04pm Jun 13, 2011 12:04pm
Now i need to learn what you guys know that way i can contribute in your pattern. still reading and learning whats this is all about.... looks interesting. Bound to learn in here.

Quoting samuelngugi
hi,

ur most welcome. n welcome to sonic R
  • #21,568
  • Jun 13, 2011 12:07pm Jun 13, 2011 12:07pm
From what i have seen so far, looks a very intelligent tool you have here, i still need alot of time to understand and master this tech... I hope to learn fast. Looking at the time most preferable, U.K OPEN. would be in touch...

Thanks for this tool and offering it free.

Quoting traderathome
Samuel, thank you for assisting fendi.
  • #21,569
  • Jun 13, 2011 12:27pm Jun 13, 2011 12:27pm
EU:

I've raised the SL (now SL2) to 1.4375, locking in 26 pips profit. My thinking is now that the whole number area below current PA might hold as support, keeping the SL from being hit. And also, I am thinking to hold the trade over to tomorrow, where the asian session trading might provide a clue as to whether price has already neared a turning point, or might have a good measure of upside still to go.

Comments on the current trading of EU are solicited.
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  • #21,570
  • Jun 13, 2011 12:51pm Jun 13, 2011 12:51pm
Quoting WW The Saint
Tq, for your contribution TAH, but I thought my my london open hour (Lo, N, Lc) is one hour faster and I can't change even I put in my broker and local hour as in user note explanations. This one detect automaticaly or not?
Saint, if according to the Clock Panel, the Lo/N/Lc are appearing one hour before they should, then substract "1" from the number appearing as the input for the DST_Server_GMT_Offset. The lines should shift by one hour.

I apologize that I saw your post requesting help, so late. I hope this helps. Please post that your situation is resolved.
  • #21,571
  • Jun 13, 2011 1:12pm Jun 13, 2011 1:12pm
Quoting nando_rich
i'm BE+20...let me see.
Stopped out...+30...

See you tomorrow.
"Being picky only cost your time - not MONEY"...Hans
  • #21,572
  • Jun 13, 2011 1:14pm Jun 13, 2011 1:14pm
UCAD: look for shorts.

Take a look at H4 UC. PA couldn't make it through 0,9800 for 7 (!) times.
I think we have a strong supply area here.
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  • #21,573
  • Jun 13, 2011 1:20pm Jun 13, 2011 1:20pm
EU:

In the last hour of tradng, still the US BBs are periodically working the price to lows, where the trading then increases. Here are the two latest examples, happening as PA "floats" above the whole number. This interest in getting the price down to increase trading is bullish.
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  • #21,574
  • Edited 1:50pm Jun 13, 2011 1:36pm | Edited 1:50pm
Quoting bennyFX
UCAD: look for shorts.
UCad:

Take a look at H4 UC. PA couldn't make it through 0,9800 for 7 (!) times.
I think we have a strong supply area here.
Or, we have BBs with buy orders that cease at the top of the range! I have scanned down thru TFs, viewing the VA, and on M15 are first signs of the typical price manipulation down/up that enables the BBs to buy without ramming the price up on themselves.

And on M5 there is the latest, too, the lower they worked the price the stronger the volume became.

And look at the H1, which shows strongest volume as part of a manipulation down/up as price rose due to being heavily bought from the bottom back up.

All-in-all, I'd say this looks like prolonged accumulation of long positions on UCad. My guess is the BBs are waiting until the CAD or USD news is just right for them to ram the price north, and keep it going. Meanwhile, they are building long positions.

But, the market decides. We might know more come the next London session.

WARNING: Speculation.
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  • #21,575
  • Jun 13, 2011 1:53pm Jun 13, 2011 1:53pm
Quoting traderathome
EU:

In terms of taking profit today, I am torn between four TPs, as shown on the attached chart. I am favoring TP2, thinking the US BBs made an extra effort to add positions, so they might be going for a high profit target. TP3 is ideal, since it aligns with a whole number, but is beyond the range for today, which could start to wind down. TP4 just seems too high for what is left for today.

If the lowest targets are not reached today, the highest ones might be best for tomorrow.

Comments on this are solicited.
but if price will post higher than TP1, lets say at least to TP2, than SHS pattern will become invalid..
in other hand, we shouldn't trade what we expect to happen. this pattern can be finished and can not as well
  • #21,576
  • Jun 13, 2011 2:12pm Jun 13, 2011 2:12pm
Quoting kimis
but if price will post higher than TP1, lets say at least to TP2, than SHS pattern will become invalid..
in other hand, we shouldn't trade what we expect to happen. this pattern can be finished and can not as well
EU:

A H&S right shoulder does not have to match exactly with the left. So, TP1, or 2, or even 3 might not invalidate a H&S possibility.

My concern was the spike up on GU. If GU has topped off, then EU might have also. However, looking at EG H4, E could start to rise against G now that there has been a 50% retrace down. This would mean that GU could next start down, while still EU could continue up a bit.
  • #21,577
  • Jun 13, 2011 2:32pm Jun 13, 2011 2:32pm
EJ:

One to watch?

Yesterday the price was sent down to the whole number where it bounced on strong volume. The entire move down/up may have been manipulation with the intent of gathering in long positions without jacking up the price.

In about 2.5 hours there is a medium impact JPY release. This might not have any effect to start the price rising. However, in about 5.5 hours there are two JPY high impact releases, which might trigger a rise. This is all speculation, based on if the price is to go up, the BBs will want maximum time to get long before they ram it up.

Price is in a S&R area extending down to the half number and up to the 3/4 number. It might be one to watch for a long setup on M15, especially if the early asian session moves price back down a bit to favor a better price for a long entry.

WARNING: Speculation.
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  • #21,578
  • Jun 13, 2011 7:06pm Jun 13, 2011 7:06pm
EJ:

On this M30, as well as on a M15, you can see increasing volume on Leg #2 of the WAVE. Note that price rebounded from the lower whole number area again, yesterday. With a current average range of nearly 150 pips, a strong upwards move could take price to the upper S&R/target shown. Another, alternate target is also shown.
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  • #21,579
  • Jun 13, 2011 7:17pm Jun 13, 2011 7:17pm
EU:

Same story as with EJ (above), increasing volume on Leg #3 of the WAVE. A couple of targets, bracketing RgH, are shown.
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  • #21,580
  • Edited 8:01pm Jun 13, 2011 7:33pm | Edited 8:01pm
UChf:

Speaking of increasing volume on Leg #3 of the WAVE, here is an exceptional situation. Just look at the D, W and M charts and you will see what I mean. The BBs may be close to exhausting any further liquidity for going long! At this point, even the slightest good USD news could send this rocketing up. And there are USD high impact releases coming today.

Heck, even if the USD news is not good, if the BBs are losing liquidity at the lows for going long, they may be ready to send this up anyway.

This is what I call one of those "improper" WAVE situations (second L is lower than first L), that could actually be good....a wide swing opposite the direction of a future move....the BBs loading up. In this case, they just rammed it down to the lower half number area on increasing volume. You can see that the highest volume came in at the lowest prices! And then the price quickly rebounded from the half number natural S&R area.

Of course, the BBs could just be closing shorts at the lows.......(I wonder how they find anyone to take them in such an extremely "oversold" situation!) Oh, well, it is all part of the massive price manipulation that normally goes on. So, in the final analysis, we wait to see what the market decides.

The thing about this pair is, aside from already being extremely oversold, we see two obvious torpedo drives that have come ahead of the upcoming USD high impact releases. In such an oversold situation, before the price would normally go even lower, the content of those releases would have to be released.....just to be sure there was still valid enough reason to lower the price even more. So, since the price has been torpedoed ahead of the upcoming releases, there is reason to believe the BBs are manipulating prices as preparations for a move up (i.e., last minute grab for cheap longs).

In any case, as stated, we wait to see what the market decides, and if we get a SonicR setup one way or the other.

WARNING: Speculation.
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