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Sonic R. System

  • #25,861
  • Sep 1, 2011 10:35pm Sep 1, 2011 10:35pm
Quoting traderathome
ddaytrader, I don't understand. In post #25738 you wrote, ...

"If you enter short after a high, a low, and a lower higher, then your stop loss goes a few pips above the high itself."

....ok, and now you are suggesting the SL should go lower? Please "unconfuse" my confusion.
I put my stop above the first lower high in this case, rather than the highest high. You're ok, though, and that is why I said "for my taste."

The arrows are pointing to the high, and two subsequent lower highs. I prefer to keep my stop loss above the last lower high prior to entry, but I think SOnic would say that either of the other two would be acceptable stop locations as well. Just don't move the stop once you placed unless you are moving in the direction of your trade to reduce risk or lock in profits.
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  • #25,862
  • Sep 1, 2011 10:57pm Sep 1, 2011 10:57pm
Quoting ddaytrader
I put my stop above the first lower high in this case, rather than the highest high. You're ok, though, and that is why I said "for my taste."

The arrows are pointing to the high, and two subsequent lower highs. I prefer to keep my stop loss above the last lower high prior to entry, but I think SOnic would say that either of the other two would be acceptable stop locations as well. Just don't move the stop once you placed unless you are moving in the direction of your trade to reduce risk or lock in profits.

hi dd, in here, where is the rectangular box of S&R that you can make the wave?

because prior to that, there seems to be a lot of waves before finally to this confirmed wave. Just want to learn how to do the wave count properly.

thanks
  • #25,863
  • Sep 1, 2011 11:02pm Sep 1, 2011 11:02pm
Quoting shujiXakira
hi dd, in here, where is the rectangular box of S&R that you can make the wave?

because prior to that, there seems to be a lot of waves before finally to this confirmed wave. Just want to learn how to do the wave count properly.

thanks
Resistance for the AU in this case is best seen by looking at the daily chart. I can't post a pic right now, but see if you can find 1.075X-1.078x as an important R area.
  • #25,864
  • Sep 1, 2011 11:16pm Sep 1, 2011 11:16pm
EJ:

Here is a current example of a PA wave SonicR short setup that follows a previous short setup.

1. It is not London session yet. Higher risk.
2. PA wave is proper, H-L-LH.
3. PA wave Leg #1 does not take the price thru Dragon, however in the previous setup that did happen.
4. PA wave Leg #3 shows bounce off S&R.
5. The Dragon is angled down.
6. PA at entry area is below Dragon (for shorting), and also below the Trend line (if you are using the Trend line).

There is strong support at the lower half number area where EP is positioned. It is possible that this area will not be broken (if it is to be broken) except in concert with the USD releases later today. In other words, if the market is to breakout this area, it might not until after those releases. One cannot know the timing of such things. They happen when they happen.
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  • #25,865
  • Sep 1, 2011 11:34pm Sep 1, 2011 11:34pm
UCad:

Here is a current example of a PA wave being made, one which might produce a SonicR long setup.

1. London session setup? Possibly.
2. Proper PA wave, H-L-LH, is likely.
3. PA wave Leg #1 took price thru Dragon. This is good, a recommendation set forth by Basber.
4. PA wave Leg #3 could end up showing bounce off S&R. This is what to be looking for.
5. The Dragon is angled up.
6. PA at entry area will be above Dragon (for longs), and also above the Trend line (if you are using the Trend line).

An interesting aspect of this possible setup is that if Leg #3 does bounce up from S&R, it might also be in the area of the Trend line, which could make for a better setup. Again, the Trend line used here is the 89 sma, not the 89 ema standard to Sonic R.
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  • #25,866
  • Sep 1, 2011 11:36pm Sep 1, 2011 11:36pm
I hope the previous examples are helpful to new Sonikers with their recognition of key elements of a Sonic R. System setup. The essence of Sonic R. is a proper PA wave properly placed at support and resistance.

(On this point I hope I have ddaytrader's concurrence. If not, I'm in Big trouble!)

Regards,
-tah
  • #25,867
  • Sep 2, 2011 12:00am Sep 2, 2011 12:00am
Quoting traderathome
EJ:

Here is a current example of a PA wave SonicR short setup that follows a previous short setup.

1. It is not London session yet. Higher risk.
2. PA wave is proper, H-L-LH.
3. PA wave Leg #1 does not take the price thru Dragon, however in the previous setup that did happen.
4. PA wave Leg #3 shows bounce off S&R.
5. The Dragon is angled down.
6. PA at entry area is below Dragon (for shorting), and also below the Trend line (if you are using the Trend line).

There is strong support at the lower half number area where EP is positioned. It...

As EJ been falling quite a bit, would it better to see if there is a Long instead ??
  • #25,868
  • Sep 2, 2011 12:03am Sep 2, 2011 12:03am
Quoting traderathome
UCad:

Here is a current example of a PA wave being made, one which might produce a SonicR long setup.

1. London session setup? Possibly.
2. Proper PA wave, H-L-LH, is likely.
3. PA wave Leg #1 took price thru Dragon. This is good, a recommendation set forth by Basber.
4. PA wave Leg #3 could end up showing bounce off S&R. This is what to be looking for.
5. The Dragon is angled up.
6. PA at entry area will be above Dragon (for longs), and also above the Trend line (if you are using the Trend line).

An interesting aspect of this possible...

USD/CAD looks like consolidation into a wedge ??
Nothing interesting yet, perhaps later tonight.
I am not trading USD/CAD.
  • #25,869
  • Sep 2, 2011 12:18am Sep 2, 2011 12:18am
Quoting foxybunny
As EJ been falling quite a bit, would it better to see if there is a Long instead ??
Long?! After the #%&* I took yesterday setting up the short trade? Are you crazy??????
  • #25,870
  • Sep 2, 2011 12:27am Sep 2, 2011 12:27am
Quoting foxybunny
As EJ been falling quite a bit, would it better to see if there is a Long instead ??
EJ:

Seriously now, look at this thing on the H4 chart....
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  • #25,871
  • Sep 2, 2011 12:27am Sep 2, 2011 12:27am
Quoting traderathome
Long?! After the #%&* I took yesterday setting up the short trade? Are you crazy??????

Your Short E/J yesterday caught a nice resistance and you seem good at finding S/R when you don't open a trade too early.

I mean looking for a Long E/J if there is a quick spike down then up again.
Coz any new Short on E/J is not a SonicR Classic as price down a fair bit, more like like a SonicR Re-Entry.

OK, where would you think be a likely Support area for E/J ??

I am not saying to go Long E/J, as today has many red news, wait and see for now.
  • #25,872
  • Sep 2, 2011 12:31am Sep 2, 2011 12:31am
Quoting foxybunny
Your Short E/J yesterday caught a nice resistance and you seem good at finding S/R when you don't open a trade too early.

I mean looking for a Long E/J if there is a quick spike down then up again.
Coz any new Short on E/J is not a SonicR Classic as price down a fair bit, more like like a SonicR Re-Entry.

OK, where would you think be a likely Support area for E/J ??

I am not saying to go Long E/J, as today has many red news, wait and see for now.
EJ:

There is my target area for today.
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  • #25,873
  • Sep 2, 2011 12:36am Sep 2, 2011 12:36am
Hey, you just gave me an idea, foxybunny, about where to set my SLs! I should use the FE tool on H4, where ever that says it should be. Using EJ as an example, it places it beyond the day range line.....

.....I can deal with that. It gets the friggin' nemesis outta da way.....way utta da way!
  • #25,874
  • Sep 2, 2011 12:39am Sep 2, 2011 12:39am
Quoting traderathome
EJ:

Seriously now, look at this thing on the H4 chart....

OK. This is what I have on EUR/JPY H4.
Look at lowest Black trendline intersecting with Horizontal Magenta lines.

If there is a spike down into that area and then a quick rejection with price up quickly, possibly Long from that area.


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  • #25,875
  • Sep 2, 2011 12:42am Sep 2, 2011 12:42am
Quoting traderathome
Hey, you just gave me an idea, foxybunny, about where to set my SLs! I should use the FE tool on H4, where ever that says it should be. Using EJ as an example, it places it beyond the day range line.....

.....I can deal with that. It gets the friggin' nemesis outta da way.....way utta da way!

That's terrific.

I thought you already using FE tool as your SL with -24, -38, etc.
I used that sometimes as a SL or EP as well.

Oh, you mean on a longer timeframe like H4 as you set SL, rather than set SL on M15 ??
  • #25,876
  • Edited 12:53am Sep 2, 2011 12:42am | Edited 12:53am
Quoting foxybunny
OK. This is what I have on EUR/JPY H4.
Look at lowest Black trendline intersecting with Horizontal Magenta lines.

If there is a spike down into that area and then a quick rejection with price up quickly, possibly Long from that area.


Attachment
Try these lines. FE 162% could be the market's target. If you want lines that go from lower left to upper right, then look at the 2nd picture. That spike up yesterday that caused so much flak here, took PA above the upper sloping TL for a short period. And since then the PA has been downwards. That spike was the straw that broke the camel's back......some outfit(s) making a last minute price manipulation to close longs high and build a short position high. No telling how many traders with shorts on SL lost them in that move. Nor, how many pending longs got triggered into the market by that move, only to later be stopped out also! This ain't a game.
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  • #25,877
  • Sep 2, 2011 12:50am Sep 2, 2011 12:50am
Quoting traderathome
Try these lines. FE 162% could be the market's target. If you want lines that go from lower left to upper right, then look at the 2nd picture. That spike up yesterday that caused so much flak here, took PA above the upper sloping TL for a short period. And since then the PA has been downwards. That spike was the straw that broke the camel's back.
Yes, those Downtrend lines you drawn also.
I seem to have a bias for bull in most instruments, and you seem to have a bias for bear.
Bears earn faster.

Heh, just noticed your H4 Candlesticks, they don't look like normal candlesticks as when they closed, the next bar is not opening where they just closed.
What are you using as Candlesticks ??
Is it Heiken-Ashi ??
  • #25,878
  • Sep 2, 2011 12:57am Sep 2, 2011 12:57am
Quoting traderathome
Try these lines. FE 162% could be the market's target. If you want lines that go from lower left to upper right, then look at the 2nd picture. That spike up yesterday that caused so much flak here, took PA above the upper sloping TL for a short period. And since then the PA has been downwards. That spike was the straw that broke the camel's back......some outfit(s) making a last minute price manipulation to close longs high and build a short position high. No telling how many traders with shorts on SL lost them in that move. Nor, how many pending...

That spike up yesterday don't need another Manual trendline.
Look at your H1 chart and you will understand what I mean as it hit something as well on your H1 chart.
That is why you picked at the correct Resistance yesteday.
  • #25,879
  • Sep 2, 2011 12:59am Sep 2, 2011 12:59am
Quoting foxybunny
Yes, those Downtrend lines you drawn also.
I seem to have a bias for bull in most instruments, and you seem to have a bias for bear.
Bears earn faster.

Heh, just noticed your H4 Candlesticks, they don't look like normal candlesticks as when they closed, the next bar is not opening where they just closed.
What are you using as Candlesticks ??
Is it Heiken-Ashi ??
Yes, Heiken-Ashi. For me, they help me see S&R more easily/quickly. And I thought, at least while Sonicdeejay is away, they might be similarly helpful to others in any "instructional" posts made. I have not made any decision yet as to whether or not to use them exclusively in the future.

Sonic R. is all about support/resistance and PA waves. And Heiken-Ashi candles are superior to regular candles in depicting both. So, I hope there are no objections.
  • #25,880
  • Sep 2, 2011 1:05am Sep 2, 2011 1:05am
EU:

PA has just broken below the half number. I still think it is too early for a move, what with the NFP release coming later. But, you never know.

Except for the trades I am already in, I think I'll sit on my hands until after the two high impact USD releases.
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