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Sonic R. System

  • #22,261
  • Jun 24, 2011 12:11pm Jun 24, 2011 12:11pm
Quoting traderathome
UChf:

The market continues to load up longs at the lows.....

......Meanwhile, EU is resuming the drop!

Can you believe the price manipulation on UChf, continuing to hold it down while buying it up?!

UChf long is going to be one hellava great trade! Just my speculation.
UChf:

Torpedo And Buy price manipulation!

(Ops! .....not supposed to use that term either.)
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  • #22,262
  • Jun 24, 2011 12:23pm Jun 24, 2011 12:23pm
Quoting traderathome
By my calculations (light blue), it would be nigh onto next Christmas before that could occur and bring a breakdown.
Naturally you have your doubts coz I was thinking of a different H&S ^^ See pic below. It's a smaller and tighter H&S with the peak already being the left shoulder. Something like a sinking EUR man xD
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Do we have a deal?
  • #22,263
  • Jun 24, 2011 12:28pm Jun 24, 2011 12:28pm
EU:

Missed making a range breaking day by half a pip. Well, I guess the market does not want to set the alarms off!

.....not quite yet, anyway. The day is not over (probably is, but it isn't).
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  • #22,264
  • Edited 12:57pm Jun 24, 2011 12:35pm | Edited 12:57pm
Quoting Yojimbo
Naturally you have your doubts coz I was thinking of a different H&S ^^ See pic below. It's a smaller and tighter H&S with the peak already being the left shoulder. Something like a sinking EUR man xD
Yojimbo, by no standard that I know of, does what you show and refer to qualify as a H & S formation. It is just up/down PA in a declining channel, after a Bear Channel took PA to the highs.

You might find this site useful:
http://www.forextraders.com/learn-fo...formation.html
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  • #22,265
  • Jun 24, 2011 1:04pm Jun 24, 2011 1:04pm
Market Comment:

Sure looks like the market is done for the week. The late US market continues to "work" prices to their advantage (examples: EU up, Chf down)......adding positions for whatever is to come next week. However, volume is falling off, there is no momentum.

Have a great weekend, Sonikers.

-tah
  • #22,266
  • Jun 24, 2011 1:08pm Jun 24, 2011 1:08pm
@TAH: Market is not always exact and I think it's not that absurd to classify this as a H&S. Maybe not a perfect looking one but still a valid H&S. In fact, the majority of real live examples of H&S that most ppl used to explain me this pattern did not look perfect. Not even close. Sometimes one shoulder was higher than the head, sometimes the head was lower than the shoulders, sometimes the neckline was not straight but in the end price always went south (or north after an inverted).

I'm not saying that those ppl (and websites) are infallible and maybe the examples that were used to demonstrate H&S were not adequate and should not have been classified as such. But they seemed plausible to me and they still do. Maybe I should give the pattern that I think might (I repeat might) form a different name to offend you less

So instead of H&S let's just call it a "bearish reversal pattern with three consecutive failed attempts of breaking previous highs forming a horizontal neckline at a significant looking level of support with its lows".
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Do we have a deal?
  • #22,267
  • Jun 24, 2011 1:11pm Jun 24, 2011 1:11pm
Quoting traderathome
Market Comment:

Sure looks like the market is done for the week. The late US market continues to "work" prices to their advantage (examples: EU up, Chf down)......adding positions for whatever is to come next week. However, volume is falling off, there is no momentum.

Have a great weekend, Sonikers.

-tah
You have a great weekend too TAH and all the Sonikers, Thank you for all the help
  • #22,268
  • Jun 24, 2011 1:12pm Jun 24, 2011 1:12pm
Quoting Yojimbo
So instead of H&S let's just call it a "bearish reversal pattern with three consecutive failed attempts of breaking previous highs forming a horizontal neckline at a significant looking level of support with its lows".
this kind of "SHS" has it own name - Double (Tripple) Top
  • #22,269
  • Jun 24, 2011 1:18pm Jun 24, 2011 1:18pm
Quoting traderathome
UChf:

Torpedo And Buy price manipulation!

(Ops! .....not supposed to use that term either.)
UChf:

Oh, one last post on this today. The US market made yet another K-Mart "Blue Light" sale for themselves! And I have added to my long trade just a bit above my lowest entry....not because I needed to, but because everybody eles seems to be doing it!
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  • #22,270
  • Jun 24, 2011 1:18pm Jun 24, 2011 1:18pm
Quoting kimis
this kind of "SHS" has it own name - Double (Tripple) Top
Right Triple Top. But I've made the experience that ppl call it H&S more frequently than Triple Top even though it might not be correct. So I started adopting that for convenience's sake. Coz the only difference I see between H&S and Triple Top is the high of the head. Anyway I beg for pardon for this incorrect use of the name.
Do we have a deal?
  • #22,271
  • Jun 24, 2011 1:25pm Jun 24, 2011 1:25pm
Quoting Yojimbo
Right Triple Top. But I've made the experience that ppl call it H&S more frequently than Triple Top even though it might not be correct. So I started adopting that for convenience's sake. Coz the only difference I see between H&S and Triple Top is the high of the head. Anyway I beg for pardon for this incorrect use of the name.
From the educational site:
http://www.forextraders.com/learn-fo...formation.html

Included in the definition of a H&S formations is this....

"Head and shoulders patterns are in fact quite similar to top/bottom formations, with the one distinction that the second attempt at breakout (that is, the head) from the support or resistance level where the first shoulder failed is able to succeed, but then goes nowhere..."

In other words, the "Head" must go higher than the "Left Shoulder".

If you are truely interested in knowing the patterns, and not guessing or relying on others that use terms incorrectly, you will find this educational site very helpful. And there are others. You can Google search and find facts to dispel fictions......if you are willing to take the time.
  • #22,272
  • Jun 24, 2011 1:31pm Jun 24, 2011 1:31pm
Quoting Yojimbo
Oh and btw, I just wanted to remark how nice and comfortable it is around here with you guys. Totally different than in the EUR/USD thread of the interactive trading section that seems to be infested by a handful of frustrated, ill-mouthed, angry peeps hurling insults at eachother -.-

I agree...de E/U tread is the worst place to learn trading...


You are in the right place now...

Place to have you here.

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #22,273
  • Jun 24, 2011 1:46pm Jun 24, 2011 1:46pm
Quoting traderathome
UChf:

Added SS EL2 = 0.8363.

You can see on M1 the volume reception at the bottom of the last drive down. This is clearly buying. And remember, "volume" is only a count of the number of trades. It does not show the size of the trades! Therefore, some of the trades at the lows could be for literally millions of dollars.....orders placed there earlier, and then the market works the price down to get them executed.

Yeah, I know this is speculation.....but what the hell else do you think is happening?
UChf:

Added SR EL3 = 0.8370. (Everybody else seems to be buying it, even late into the day. )
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  • #22,274
  • Jun 24, 2011 1:52pm Jun 24, 2011 1:52pm
Again, to all Sonikers, .....have a great weekend. Next week should be interesting.

In thanking Nando today for his contributions, I was seriously remiss in not pointing out that others have also gone out of their way to add to the value of this thread to present and future readers: hansma, kimis, sunbrella, et. al.

Thank you, Sonikers.

-tah
  • #22,275
  • Jun 24, 2011 2:13pm Jun 24, 2011 2:13pm
Summary Of My Week With Sonikers:

Complete Trades = 29
Profitable Trades = 24
Total Pips Gained = 1,058

-tah
  • #22,276
  • Jun 24, 2011 2:24pm Jun 24, 2011 2:24pm
thanks TAH for kind words even if I don't feel contributing so much

have made some mistakes at the beginning of week but recovered yesterday and even made some profit. if not that mistakes, result of last week was possible to repeat (aprox +10% of account per week)

Nice weekend to all
  • #22,277
  • Jun 24, 2011 3:58pm Jun 24, 2011 3:58pm
wow, I'm impressed by USDCHF last minutes action

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  • #22,278
  • Jun 24, 2011 5:53pm Jun 24, 2011 5:53pm
Quoting kimis
thanks TAH for kind words even if I don't feel contributing so much

have made some mistakes at the beginning of week but recovered yesterday and even made some profit. if not that mistakes, result of last week was possible to repeat (aprox +10% of account per week)

Nice weekend to all
cool great - nice to read this kim - it should be easy to show your results man ...

is that possible ??? So it easy to follow the trades, especialy exits,entry,sl Thank u

enigma4x
enjoy my life ... and ride the waves - all what I do
  • #22,279
  • Jun 24, 2011 6:34pm Jun 24, 2011 6:34pm
Quoting enigma4x
cool great - nice to read this kim - it should be easy to show your results man ...

is that possible ??? So it easy to follow the trades, especialy exits,entry,sl Thank u

enigma4x
10% was last week. I was lucky to catch that two bigger moves of EU. as my account is relatyvely small and minimum order size is 0.1 lot, it is enought to have 100 pip move to get at least 1% of account

this week as I wrote was not so good and I made 2% profit over all week, including quite big losses at the beginnig of week where I made some mistakes.

will try to put some analisis of that later during weekned.

And Enigma, waiting for your contact request on skype
  • #22,280
  • Jun 25, 2011 3:09am Jun 25, 2011 3:09am
so, here is my the only one profitable trade of this week.

decision for entry was based on continiuos failure of PA to break through resistance 1.4420 and kind of H-LH if to consider spike of news as H (left circle), but even without spike that highs was higher. I've been encouraged later by Sonic's post that he is entered as well and latter decided to copy his SL distance as he is more wise and experienced and that was right decision. almost right after entry PA went to new highs and I almost ate my nails
later after some high volume bar has been seen at whoole number 1.4400 I've added one more position. PA directed higher. at 1.4430 PA made another high volume bar and I diceded to add one more position (I know that is not good way, but I had feeling that I have to risk here). and here price started to decline down.
Last order has been closed first after reaching recent major lows at 1.4350 area with +80 pips. I've calculated averaged BE for rest of orders and moved SL there. than I closed highes of open orders at whoole number 1.4300 with +100 pips. Now I'd say it was mistake, as there was re-entry candle next after close but you never know what will happen next. than next drop down followd and SL has been moved to recent highs.
after break through 1.4190 level I decided to close one of the orders if price will come back to it. and it has happened. and last order has been closed after greek agreement with eu for austerity plan. PA already started to show first signs to go up, there was hammer on h4 and so on.

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later will put my mistake of monday... (shame on me, now I see how dumb I was to make that)
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