Sonic R. System

Keep in mind the upcoming USD releases. The "long" volume might have just been to prop up the price prior to a great fall, i. e. the BBs pumped PA higher now that time is short, so they can finalize positions nearer the top of the range before they pull the rug......

Sure, just speculation. But the market is devious that way, too. Yet, anything can happen.

Which way? Another release in just over an hour from now....

slightly better than expected data for USD, but EU no dropping any..
I am on board, with half load, will see

let the market decide.......

As i said earlier took +40 and then took abit more for +78 pips..running just a small lot from bottom, and took another leg long.;good stuff risking not much

Not bad.. I must say.. put SL@ BE as I gonna sleep..



NIte Fellas
Sonic

Yesterday had several EUR and USD medium and high impact releases....
Market response,........ranging.

Today had several USD high impact releases......
Market response so far,.......ranging.

Currently, the M15 shows what might be stopping volume for the most recent high mark candle (green PV Study bar). I still have my short trade on, and still I am anticipating a break down out of the range. But a break today, either up or down from the range, is looking unlikely. And if tomorrow is the same as yesterday and today, I might just close the trade, wherever PA is at that time.

Speculation:
After over a year of irrational and completely unsupportable support for the euro, and with the associated and unmitigated constant pumping of EU, there must be fortunes invested on the long side. And maybe that accounts for the "reluctance" for EU to drop, even now as news on the euro continues negatively and news on the USD improves. The greedy rich are extremely reluctant to lose, and in the markets they have the advantage in the "say so" about directions of movement. And they can afford to be wrong longer than we can!

EU unable to break the resistance at 1.35238 .., but whatever i'm happy i'm, although late, understanding the importance of PA and i'm thankful to sonicdeejay.

The London session is closed and the US BBs have the table to themselves, for the most part. And now the see-saw starts tipping down.

This might be the start of another late US session drive towards the bottom of the range, just like on Tuesday and Wednesday. Indeed, it now appears that was stopping volume on the most recent high, but the Bear BBs waited for the euro outfits to leave, so as to not waste money fighting euro bull BBs on a downside drive.

The question is whether the objective of the drive down is the lower range area to close shorts and go long again, or a breakout thru it......

PA is making quite a bearish statement. On the heels of the London close, the first hour of the second half of the US session is over with. Look at the volume bars for the last half hour. They are quite tall compared to volume on previous days at this time, and they are associated with the sudden bear drive. That is a lot of volume, and the bears are winning.

This puts additional bear confirmation to the whole mess over the past two days, imho.

Night tah

Night? Hey, man, you know the market never sleeps! And the conscience of the greedy rich BBs probably won't let them sleep.

You might wake up finding EU down 400 pips! .....

I'm in the same country as sonicman and he is probably sleeping tight now

Ya, I hope the BBs do what you tell them to do since I'm building my short positions That's why I'm staying out when Sonic gone long

Keep well tah

i know it's after sonic hours time..but this setup is not a good one ?

I can only give you the opinion I have, that because the overall trend is down, and that there has been nothing in the past two days to oppose that trend (ranging only), and because the last high mark on M15 has with it a climax green candle (signifying possible stopping volume for the drive up), the move will be down in the range until something more happens.

Something more is not likely to be very much until the next LO.

So, that leaves us with the remainder of the day with a bearish move underway. And so, I would not undertake a long trade at this time. At least wait to see if PA makes more progress to the bottom of the range, and if so, then does a Sonic R. long setup occur?

As it stands, the last proper WAVE shows a bounce down away from the resistance of the half number area, with the Dragon angled down, and with PA below both the Dragon and the Trend. This is not auspicious for a long! Speculation on my part, but the US BBs might pull off Act II of their drive down just before the session closes. And there is no telling what the early asian session might bring. Best to wait before considering anything long, imho.

OK, but how about this picture of yours modified a bit?

I see a L H HL HH and a breakout for long...

(agree to wait until tommorow for LO but im long and that's why i ask...)

Yes, certainly you have drawn a proper WAVE. Unfortunately, the Dragon has since departed that direction and is now angled down, as is the Trend line. And this is because PA has suddenly been driven down, and is now below everything!

In other words, you are attempting to validate a large WAVE, for non-prime time trading, when all the other current Sonic R. elements refute it. Very few technicals are involved in the Sonic R. System, but that makes each of them important:
1. Proper Wave in vacinity of S/R and Dragon
2. Proper angle on Dragon
3. PA on proper side of Dragon (and better still, if on proper side of Trend)
4. Proper time of day for trading (London session)

Now, if your meaning is "Was this a good setup earlier, when Dragon was angled up and PA was above Dragon and Trend?" (see chart below), then the answer is a qualified "Yes." By qualified, I mean at the time of entry the Dragon did not have much, if any, angle. And there was still something regarding PA that needed to be considered. And that was the fact that PA had established a range that it repeatedly failed to break up out of. So, a long trade would best have involved an EP that relied on PA first breaking the top of the range, maybe even waiting for a breakout and a pullback and a continuation move up before entering long. And at that point the trade would very well been considered a "re-entry" because the original EP was passed over in order to help avoid being head faked by a move up thru the range top, which then still failed.

Some traders took that long trade. Apparently it did not bother them that PA had continued ranging even though EUR news was bad and USD news was good. And now, much later, PA has begun another move back down in the range. They might later wish they had held off on any long trade entry until there was a confirmed breakout of the top of the range.

Hope this helps.

LESSON LEARNED!

CHEERS

Are the rules/zip files in post 1 still relevant or have they changed? I see you don't use as many indicators now, is there an update on the system rules posted?

Cheers

The "rules" are very few and very important, and have never changed. Over time "add-on" technicals have come and gone, contributed in part by people that have come and gone. The essentials are:
1. Dragon indy
2. Trend Line indy
3. Volume indy
4. A growing understanding of S/R.
5. Trading just the London session

In Post#1 you will find links to indicators and templates to help you.

It is recommended you read all of Sonicdeejay's posts. I'd modify that recommendation by suggesting you read his first 50 posts, and also read the last 50 pages in this thread. This is a huge thread, and that is how I'd start. Later, you can launch into re-reading the entire thread, because there is a lot contained within that can add to your understanding.