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Sonic R. System

  • #25,021
  • Aug 16, 2011 8:47pm Aug 16, 2011 8:47pm
Quoting hansma
Congrats mate - nice trading in a difficult day.

I saw you lowered your entry to 24 for a better RR.

ARE YOU TRYING TO COPYCAT SOMEONE ?
Why did he know that 1.6344 is BASE C? And the price is lower than the dragon.How to determine the definition of HL？If it continues down how to do?Thanks.
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  • #25,022
  • Aug 16, 2011 10:28pm Aug 16, 2011 10:28pm
nando/hans....i've been studying your FE's for a few days now and think it is great stuff. Wondering if one or you could take a look at this chart and see if my FEs are set up and used correctly.

I set the FE's up with conservative and aggressive EPs and SLs. The +/- 23.6 are aggressive and the +/-38.2 are conservative. I set the TPs up just at the 100 FE and above.

I mainly want to see that if I applied to the wave I marked in real time (Have no idea if this would have been a valid SR play or not), if I placed the FE on the wave correctly or not.
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  • #25,023
  • Aug 16, 2011 10:53pm Aug 16, 2011 10:53pm
Quoting MikeZ.
... The problem is that London hours are exactly during my working hours! The Sonic R. System would be suitable for swing / position traders? ...
Let's see what we can come up with ... no promises of course. But let's give it the old "college try."

This is a demo H1 SonicR, using S/R, the dragon, and simple MACD divergence to identify a possible double bottom consolidation, and employing an early Hansma-style fib based entry.

Since we are trading H1 and we are looking for large targets and our stop loss should be out of the way of those annoying M1-M15 whipsaws, there is no restriction on entry. This long has triggered during Asia. Well, S/R and longer term PA does not care what time of day it is. If we are right at this level timeframe, the sessions are not an issue, got it?

On the daily chart (not shown) the EU has rallied to and is consoldating just below a 1.44-4450 resistance zone. We will target profits using Fibs and S/R to take 1/2 off at the next resistance zone and 1/2 and the second resistance zone.

Entry 1.438x, stop loss 1.431x, and TP's at 1.453x & 1.4650.

Now set it and forget it, let the market decide.

No promises, of course, and there will be losers - and that is ok, because we will use sound, Sonic-style Money Management with a firm stop loss and TP's greater than our risk, ok?
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  • #25,024
  • Aug 16, 2011 11:33pm Aug 16, 2011 11:33pm
entered long on this pair, key points:
1. big picture H4 shows reversal in completion.
2. M15 clear wave up, and near-term R turned into S and tested.
3. other sonic R rules ok.
have extra space for SL due to wide spread on this pair.
we will see.
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seeing through
  • #25,025
  • Aug 16, 2011 11:35pm Aug 16, 2011 11:35pm
Quoting nando_rich
1st TP hit +46pips...half closed sl @ be+2...


Regards,
Nando.
nice trade mate, very clear and clean decision!! love your Fibo levels.
seeing through
  • #25,026
  • Aug 17, 2011 1:14am Aug 17, 2011 1:14am
Hi Guys,

Is this a good Entry?

Reasons for entry:

Price broke our of a consolidating triangle on the 4H
Plulled back to retest a clear 4H S&R area
Long wave formed
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  • #25,027
  • Aug 17, 2011 1:28am Aug 17, 2011 1:28am
Quoting Pirabuji
Hi Guys,

Is this a good Entry?

Reasons for entry:

Price broke our of a consolidating triangle on the 4H
Plulled back to retest a clear 4H S&R area
Long wave formed
EUR is setup to short IMO . See H1
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  • #25,028
  • Aug 17, 2011 2:27am Aug 17, 2011 2:27am
closed at 1.43458 due to CT trade "be hawky on CT trade -sonic"
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  • #25,029
  • Aug 17, 2011 2:54am Aug 17, 2011 2:54am
Quoting alrightfrank
closed at 1.43458 due to CT trade "be hawky on CT trade -sonic"
Let me show you a thing...another wave an another point of view.


Regards,
Nando.
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"Being picky only cost your time - not MONEY"...Hans
  • #25,030
  • Edited 3:29am Aug 17, 2011 3:18am | Edited 3:29am
Quoting nando_rich
Let me show you a thing...another wave an another point of view.


Regards,
Nando.
hmm, copy noted nando thank you ill have this for reference. but i dont know yet how to use the rsx indi for wave confirmation i tried to google it and set it up the same as yours and hans but i doesnt turn out to be the same. so i didnt use it. i strongly believe its good to have one in my toolbox though
thanks again for info
frank

made a re-entry now ill let the market decide...
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  • #25,031
  • Aug 17, 2011 3:45am Aug 17, 2011 3:45am
Quoting alrightfrank
applied what i learned frm u when i got home this morning and bagged +28 pips. could have been more though. scenanarios: while zeroing with the entry point in M5, i laid down the FE with PA going down. i was constantly adjusting FE to get the right Base C. then i put buy stop, SL, TP order. am i doing this right or theres more proper approach to this? sorry if i hve to put it on details i just dont want it to look like i was able to take the trade it out of pure luck.
hans, what are other things do i have to consider before pulling the...

First off I donīt recommend going to m5 for entries - unless you really know what you are doing

Second you should not adjust the fib constantly, ie you are chasing price - always let price come to you

Third please look at some of mine or nandoīs latest posts - and you will find that where point C is located - is always at an s+r area in direction of the trend.

Other things to consider before entering is knowing if your targets (tpīs) are reasonable and within the days range, and donīt forget to confirm with H4 so that you donīt buy or sell directly into one of those areas.

Fourth.. money management-money management-money management

Hope this helps.

Regards,
H.
"The future is already written in the past"
  • #25,032
  • Aug 17, 2011 3:54am Aug 17, 2011 3:54am
Quoting Donkey
nando/hans....i've been studying your FE's for a few days now and think it is great stuff. Wondering if one or you could take a look at this chart and see if my FEs are set up and used correctly.

I set the FE's up with conservative and aggressive EPs and SLs. The +/- 23.6 are aggressive and the +/-38.2 are conservative. I set the TPs up just at the 100 FE and above.

I mainly want to see that if I applied to the wave I marked in real time (Have no idea if this would have been a valid SR play or not), if I placed the FE on the wave correctly...

Yes - but you put it at what appears to be a double bottom, so in my book itīs not really a wave. I like my waves to be more visible, ie over more candles clearly making the ABC pattern.

But it worked - had you taken it

Hope this helps,

Regards,
H.
"The future is already written in the past"
  • #25,033
  • Aug 17, 2011 4:05am Aug 17, 2011 4:05am
Quoting Gloryrose
Why did he know that 1.6344 is BASE C? And the price is lower than the dragon.How to determine the definition of HL？If it continues down how to do?Thanks.

He did not - but the trend was upwards, ie slope of dragon. Look at where price pulls back to in an uptrend - hopefully creating a wave around an s+r
area.

Hope this helps.

Regards,
H.
"The future is already written in the past"
  • #25,034
  • Aug 17, 2011 5:00am Aug 17, 2011 5:00am
Quoting pipphunter
entered long on this pair, key points:
1. big picture H4 shows reversal in completion.
2. M15 clear wave up, and near-term R turned into S and tested.
3. other sonic R rules ok.
have extra space for SL due to wide spread on this pair.
we will see.
stop moved up to 1.252x. on the road, no pics.
seeing through
  • #25,035
  • Aug 17, 2011 5:03am Aug 17, 2011 5:03am
Hi hansma

Please can you let me have your oponion on post 25026?

http://www.forexfactory.com/showthre...94#post4876494

Thanks,
  • #25,036
  • Aug 17, 2011 5:17am Aug 17, 2011 5:17am
Quoting Pirabuji
Hi hansma

Please can you let me have your oponion on post 25026?

http://www.forexfactory.com/showthre...94#post4876494

Thanks,

I would not have taken it - I donīt like those spikes up and down to and from an possible tp area - leaves me with no target

Itīs also hard for me to see what candle you entered on

Regards,
H.
Attached Image
"The future is already written in the past"
  • #25,037
  • Edited 7:04am Aug 17, 2011 5:40am | Edited 7:04am
This would have been a better trade.

1. Nice wave

2. Price spiked down to retest the area where the recent up move began - orange line - now act as support.

3. Entry on the candle marked orange X - + rising volume on VSA indicator

4. Clearly defined target at the red line above - Resistance from 4 hour chart.

Hope this helps.

Regards,
H.


Edit - Updated Chart
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"The future is already written in the past"
  • #25,038
  • Aug 17, 2011 5:56am Aug 17, 2011 5:56am
Quoting ddaytrader
...This is a demo H1 SonicR, using S/R, the dragon, and simple MACD divergence to identify a possible double bottom consolidation, and employing an early Hansma-style fib based entry.

Since we are trading H1 and we are looking for large targets and our stop loss should be out of the way of those annoying M1-M15 whipsaws, there is no restriction on entry. This long has triggered during Asia. Well, S/R and longer term PA does not care what time of day it is. If we are right at this level timeframe, the sessions are not an issue, got...
After entry, price spiked down to the prior day' earlier consolidation, testing a minor former resistance as support. Our stop loss, judiciously set using fibs and S/R to keep us out of harm's way unless price had kept dropping. If price had kept dropping, then the stop loss takes us out of harm's way by limiting our loss and keeping our capital intact for another day.

In spite of price's dip to test support, the divergence that helped shape the trade remains intact. In the first pic, I show the EU with the original fibs from last night. In the second pic I redraw the fibs to account for the decline below what we had anticipated to be a potential double bottom consolidation.

As you can see, taking into account the lower low, our entry is fine, as it falls between the new configurations ideal entry and maximum entry. The larger swing creates somewhat higher TP's, but I am going to retain the original TP's, as I like where they are in relation to prior Daily TF resistance.

So, we are still long, we have strong divergence into the lows at support, and the H1 dragon remains uptrending. We have our stop loss, which can only move up, and never move down or disappear completely. We have our profit targets which are set using a confluence of S/R and fib levels.

Nothing left to do but let the market decide. So we can now go to work, play golf, or whatever we wish to do, because there is nothing we can do but stare at the screen and quite possibly start screwing things up by cutting our profits short or playing adversely with our stop loss.

Set it. Forget it. Let the market decide.
Attached Image(s) (click to enlarge)
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  • #25,039
  • Aug 17, 2011 6:21am Aug 17, 2011 6:21am
Gloryrose , which use light objectives ... give the link or put ...
  • #25,040
  • Aug 17, 2011 6:43am Aug 17, 2011 6:43am
Quoting hansma
This would have been a better trade.

1. Nice wave

2. Price spiked down to retest the area where the recent up move began - orange line - now act as support.

3. Entry on the candle marked orange X - + rising volume on VSA indicator

4. Clearly defined target at the red line above - Resistance from 4 hour chart.

Hope this helps.

Regards,
H.
WOW impresive...

Guys you have a great master here...you take advantage...

This chart should be print and stick on the wall.

Best Regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
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