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Sonic R. System

  • #26,861
  • Sep 22, 2011 5:29pm Sep 22, 2011 5:29pm
Quoting aligater
@ allrightfrank

he asked me if its possiblle to trade 5 MIN TF for scalps ,,,
its a good Question here is a chart with explenation.

Hope it helps
Good Luck

aligater
r u trading initial breakout or the pullback? or both ??
  • #26,862
  • Sep 22, 2011 8:05pm Sep 22, 2011 8:05pm
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
I took 24 pip on this but it went a lot more
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  • #26,863
  • Sep 22, 2011 8:20pm Sep 22, 2011 8:20pm
Quoting sam21
I took 24 pip on this but it went a lot more
I dont trade Asian session but I will be looking for an oportunity to sell E/U during London session, I was really hoping for this rally which just happened.
European session might be interesting.
  • #26,864
  • Sep 22, 2011 8:22pm Sep 22, 2011 8:22pm
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
Re-entry
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  • #26,865
  • Sep 22, 2011 9:31pm Sep 22, 2011 9:31pm
Quoting ddaytrader
Understanding The Exact Process Behind The Movement In Price

Trade What Is Real, Not What You Feel: Quantifying Supply (resistance) and Demand (support) In The Forex Markets
Thanks for providing the link for these videos. I watched a few times. They are just like a whack on my head. Now everything seems so logical and explainable to me. The market is not as random as I thought before.
  • #26,866
  • Sep 23, 2011 1:44am Sep 23, 2011 1:44am
Anyone buying GU at 1.54115? first TP at 1.54419
  • #26,867
  • Sep 23, 2011 2:16am Sep 23, 2011 2:16am
Quoting Donkey
r u trading initial breakout or the pullback? or both ??
good Question

if the move is strong I will take the Breakout ,
if its usual I will take the Pull back.


aligater
born to speculate
  • #26,868
  • Sep 23, 2011 2:22am Sep 23, 2011 2:22am
Quoting aligater
good Question

if the move is strong I will take the Breakout ,
if its usual I will take the Pull back.


aligater
how would you know or predict if a move is strong? because if the move is already strong., it is not advisable to take the trade correct as it might reverse?
  • #26,869
  • Sep 23, 2011 2:26am Sep 23, 2011 2:26am
Quoting shujiXakira
how would you know or predict if a move is strong? because if the move is already strong., it is not advisable to take the trade correct as it might reverse?
you did not read me correctly ,,,
born to speculate
  • #26,870
  • Sep 23, 2011 2:31am Sep 23, 2011 2:31am
yes i did not understand, please clarify?
  • #26,871
  • Sep 23, 2011 2:35am Sep 23, 2011 2:35am
Quoting shujiXakira
yes i did not understand, please clarify?
ok bro

if the move is strong I take the breakout ,,I do not take the move, I take the Breakout ,,so if it moves up again you put your SL to BE
but usually it does not move up again ,,


aligater
born to speculate
  • #26,872
  • Sep 23, 2011 3:06am Sep 23, 2011 3:06am
" aligater thank s for ur response:
positioned long for eu...
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  • #26,873
  • Edited 4:52am Sep 23, 2011 3:27am | Edited 4:52am
early entry, but now it turns to SonicR setup

p.s. stopped @ BE
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Patience is the key.
  • #26,874
  • Edited 4:03am Sep 23, 2011 3:52am | Edited 4:03am
moved sl +5, let the market decide...
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  • #26,875
  • Sep 23, 2011 3:57am Sep 23, 2011 3:57am
Quoting alrightfrank
" aligater thank s for ur response:
positioned long for eu...
dunno what you do-trade

U welcome.


aligater
born to speculate
  • #26,876
  • Sep 23, 2011 5:26am Sep 23, 2011 5:26am
Trend is your friend, why going long during strong downtrend? Besides its friday-whipsaws, SL hunt and so on. Only because the PA is out of a dragon and heading up doesnt mean you have to take the trade, you need to be picky like Sonicdeejay said.

Have all great weekend

Regards
HankT
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  • #26,877
  • Sep 23, 2011 6:44am Sep 23, 2011 6:44am
Quoting HankT
Trend is your friend, why going long during strong downtrend? ... you need to be picky like Sonicdeejay said.
Good advice.


Quoting HankT
Besides its friday-whipsaws, SL hunt and so on.
It is better to view this as range testing, not "SL hunt." This can happen during any day of the week and during any session. The market has a big move and then bounces. Range contracts, and in doing so, price will tend to test back and forth across the range. Some people choose to explain this as "SL" hunting. It is better explained as part of the dynamics of an auction market composed of those bidding to buy and those offering to sell.

Quoting HankT
Have all great weekend
You too!
  • #26,878
  • Sep 23, 2011 6:57am Sep 23, 2011 6:57am
Quoting HankT
Trend is your friend, why going long during strong downtrend? Besides its friday-whipsaws, SL hunt and so on. Only because the PA is out of a dragon and heading up doesnt mean you have to take the trade, you need to be picky like Sonicdeejay said.

Have all great weekend

Regards
HankT
The problem is not the Down trend...the problem is the supply zone above...you need space to place your TP's if you take a trade...if you have a supply zone above the PA could bounce here or break it...so it's enough for avoid the trade...

Now the PA is in demand zone...if it hold and the PA allows it ...i could think in long.

The daily chart show a strong support.

Trade sure.

Regards,
Nando.
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"Being picky only cost your time - not MONEY"...Hans
  • #26,879
  • Sep 23, 2011 6:58am Sep 23, 2011 6:58am
Quoting HankT
What the hell is this???
Quoting traderathome
HankT, Nando, the spike down on FXDD is lower than both of yours.

What is it? Do you really want me to go there? For now, let's just say we shouldn't be surprised if later there is a good upside move.
Now this is why people believe in things like market manipulation, stop loss hunting, etc. and so on.

If you have a broker who routinely shows price prints far away from the real market, then you need to leave that broker. TAH is here drawing a conclusion from a print that could be a bad tick on his broker's data feed, it could be the result fo a crossed market in his broker's data source, or, yes, it could be his broker making a dive to wipe out customer positions.

But it only happened to those trading with this broker. If this is a shared data feed, then it only happened to those trading with brokers using that data feed. It did not happen anywhere else in the world. The "Big Boys" you speak of would not be aware of this "price movement" because it did not happen anywhere that such "Big Boys" would be trading.

Think about it like this: If you had not posted this chart here, I would never have known that some broker somewhere was wiping out their customer positions. But that is not how the market itself works. That is how your one specific broker works.

If you are going to trade with a bucket shop, I can say that from personal experience, FXCM has been pretty clean lately, and I use IBFX for demo MT4 charts, and I have never seen a crazy spike like that.

I also recomend Interactive Brokers for those with the minimum amount required. I have only ever had one problem with them, it was not a spike, and it cost me some profit, but did not create a loss.

Technical analysis, which is what we do here, requires a freely traded liquid market. A "market" where such phony moves takes place is not "freely traded." You need to take your money from that bucket shop and run.
  • #26,880
  • Sep 23, 2011 7:10am Sep 23, 2011 7:10am
Quoting nando_rich
The problem is not the Down trend...the problem is the supply zone above...you need space to place your TP's if you take a trade...if you have a supply zone above the PA could bounce here or break it...so it's enough for avoid the trade...

Now the PA is in demand zone...if it hold and the PA allows it ...i could think in long.

The daily chart show a strong support.

Trade sure.

Regards,
Nando.
Supply zones will be stronger during down trends and demand zones will be weaker during down trends, and vice versa. This is why it is generally safer to short rallies in down trends and buy dips in up trends than it is to be a pure break out trader.
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