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Sonic R. System

  • #29,161
  • Dec 21, 2011 9:19am Dec 21, 2011 9:19am
Quoting traderathome
AU & GU:

Just a guess, but maybe if their PA pops up out of the H4 range, these go for a "double", over 200 pips from the pop outs.
Yep.
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  • #29,162
  • Dec 21, 2011 9:31am Dec 21, 2011 9:31am
EU:

So what about our "dear EU",....today worked high only to have the rug pulled out from under it? Would it be too much to expect the BBs to hike the price again, and hold it there a while longer to close longs and open shorts? Or, is the cat so out of the bag that maybe only a modest retrace will be dutifully managed?

That is a very bearish looking H4 pic, but were it a M15 we might half expect the BBs to hike the price again if possible (and it always is) before driving it down further.
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  • #29,163
  • Edited 1:16pm Dec 21, 2011 9:54am | Edited 1:16pm
Fast m5 scalp trade based in m30 supply/demand.

+15 pips.


Regards.

Edit:1st chart 5min..2nd chart 30min time frame.
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"Being picky only cost your time - not MONEY"...Hans
  • #29,164
  • Dec 21, 2011 10:10am Dec 21, 2011 10:10am
Quoting traderathome
Sorsurus, you are right on with your reasoning.

Probably good to repeat a summary of this important point about a good PA wave....

1. For a long, it should start below the Dragon, go up thru and out the top of the Dragon (Leg 1), retrace down into or back thru the bottom of the Dragon (Leg 2), and finally come back out the top of the Dragon (Leg 3).

2. For a short, it should start above the Dragon, go down thru and out the bottom of the Dragon (Leg 1), retrace up into or back thru the top of the Dragon (Leg 2), and finally...
Thanks for the answer TAH!
  • #29,165
  • Dec 21, 2011 10:10am Dec 21, 2011 10:10am
Quoting nando_rich
Fast m5 scalp trade based in m30 supply/demand.

+15 pips.


Regards.
Hi, Nando.

Nice scalp. Say, could I ask you for a favor? Well, not for me, but for the thread as a whole? Please display the pair ID and TF clearly on your charts. It is a waste of time for anyone trying to learn anything here, to have to spend time scouring for these details. Thanks, my friend.

-tah
  • #29,166
  • Dec 21, 2011 10:22am Dec 21, 2011 10:22am
EU:

Instead of trading this pair this week, I've closed out last week's trades on it. Now perhaps is the time to zero in on this again. PA is again below the Trend Line, and the drive taking it down was preceded with very high trading at the highs during the first half of the London session. Forgive me for saying this, but that PA sure looks like a Pump and Dump.

Well, now in the aftermath of this pair getting the rug pulled out from under it, and after the BBs across the Pond left the table, it looks like the US BBs are having their own little pump,.....preparing for the next leg down?

Anyway, who cares about all that! Currently M15 PA is back to bearish as long as it is below the Trend Line. If PA goes up, it might be to set a lower high than that of the London session, in which case we could end up with a PA wave for a short trade that becomes more complete as tomorrow's London session approaches.

That is what I'm looking for, a nice PA wave for a SonicR short trade setup, tomorrow.
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  • #29,167
  • Dec 21, 2011 1:13pm Dec 21, 2011 1:13pm
Hi About this system, was thinking: could a stochastic be helpfull in order to have a better filter and be "more sure" if trend could go bearish or bullish?

Sometimes i find it usefull (raising my hit %), other times it make me too much "indicator dependant"... what do you think?

Thanks
  • #29,168
  • Dec 21, 2011 1:17pm Dec 21, 2011 1:17pm
Quoting traderathome
Hi, Nando.

Nice scalp. Say, could I ask you for a favor? Well, not for me, but for the thread as a whole? Please display the pair ID and TF clearly on your charts. It is a waste of time for anyone trying to learn anything here, to have to spend time scouring for these details. Thanks, my friend.

-tah
Done mate...you right...i forgot it.
"Being picky only cost your time - not MONEY"...Hans
  • #29,169
  • Dec 21, 2011 2:58pm Dec 21, 2011 2:58pm
Quoting traderathome
1. M15 is the fundamental trade TF.
2. M5 might be used sometimes (asian session trades, early entry to London session M15 trades).

Trading other TFs (H4, H1 or M30) could be done. It comes down to individual trader's choice. Heck, one could slap the H1 Dragon onto the H4 chart and trade that!
Which leads me to the question....

How DO you "slap the H1 Dragon onto the H4 chart?"

  • #29,170
  • Dec 21, 2011 3:06pm Dec 21, 2011 3:06pm
Quoting vincent82
Hi About this system, was thinking: could a stochastic be helpfull in order to have a better filter and be "more sure" if trend could go bearish or bullish?

Sometimes i find it usefull (raising my hit %), other times it make me too much "indicator dependant"... what do you think?

Thanks
Nope. Dragon, Trend Line, and maybe some form of volumes indy. That is all. Why? The focus must be on PA and S&R. Anything else is redundant to PA, and........lagging! And moreover, a distraction!
  • #29,171
  • Dec 21, 2011 3:09pm Dec 21, 2011 3:09pm
Quoting ArtfulDodger
Which leads me to the question....

How DO you "slap the H1 Dragon onto the H4 chart?"

You don't. At least not with the current indys. And I am not even sure it is a good idea. Why? .......

Let's get back to basics, ......M15 is King, and an indicator free H4 can sometimes point the way. Anything else might be just us trying to "jump the gun", or find a trade (when there isn't one!), and gets us away from being patient, .....and picky!
  • #29,172
  • Dec 21, 2011 3:22pm Dec 21, 2011 3:22pm
Quoting traderathome
EU:

Instead of trading this pair this week, I've closed out last week's trades on it. Now perhaps is the time to zero in on this again. PA is again below the Trend Line, and the drive taking it down was preceded with very high trading at the highs during the first half of the London session. Forgive me for saying this, but that PA sure looks like a Pump and Dump.

Well, now in the aftermath of this pair getting the rug pulled out from under it, and after the BBs across the Pond left the table, it looks like the US BBs are having their...
I enjoy reading your analysis. Thanks for your comments as always tah!
  • #29,173
  • Dec 21, 2011 3:22pm Dec 21, 2011 3:22pm
Quoting traderathome
Nope. Dragon, Trend Line, and maybe some form of volumes indy. That is all. Why? The focus must be on PA and S&R. Anything else is redundant to PA, and........lagging! And moreover, a distraction!
I haven't seen the trend 89 line be that much of use the past week or two....I don't recall a trade where everything seemed perfect setup but then, wait, can't short or long because it's not above or below the 89 ma....how useful is this? I don't see the value at least from recently and see dragon, dir of dragon, PA wave through dragon, and s&r the biggest factors...and volume sometimes.
  • #29,174
  • Dec 21, 2011 3:32pm Dec 21, 2011 3:32pm
Take a look at AUDUSD 15min
Looks like a great short just formed entry 1.0081, nice TP1 at daily pivot 1.0026?

in this case, SL would be much greater than TP1, would you still set a SL a little above 1.0217?
  • #29,175
  • Dec 21, 2011 3:41pm Dec 21, 2011 3:41pm
Hello fellas..

Am busy with my offshore proj, that need me to go middle of the sea.. For the time being..

Happy holiday..

Sonic
  • #29,176
  • Dec 21, 2011 3:48pm Dec 21, 2011 3:48pm
Quoting jdtrader
Take a look at AUDUSD 15min
Looks like a great short just formed entry 1.0081, nice TP1 at daily pivot 1.0026?

in this case, SL would be much greater than TP1, would you still set a SL a little above 1.0217?
Be careful, M15 chart shows it making higher lows, not good for shorting..
  • #29,177
  • Dec 21, 2011 4:13pm Dec 21, 2011 4:13pm
Quoting jdtrader
Take a look at AUDUSD 15min
Looks like a great short just formed entry 1.0081, nice TP1 at daily pivot 1.0026?

in this case, SL would be much greater than TP1, would you still set a SL a little above 1.0217?
JD, you need to post charts, not just text.

Regarding the Trend Line, Sonicdeejay says PA should be above the Dragon for long, and better yet if above the Trend Line (the reverse for shorts). So, you see it is "....better yet....", but not required absolutely. Being picky means choosing setups and entries where PA is on the proper side of both the Dragon and Trend Line.

Now, here is what I see. And I am ignoring it! Why? Because all too many times these asian session setups go nowhere, or reverse. Not until the Big Money comes in am I interested. And that is in the London session.
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  • #29,178
  • Edited 4:37pm Dec 21, 2011 4:25pm | Edited 4:37pm
Market Comment:

Right now pairs such as AU, EU and GU have PA looking about to break down thru where they have been "basing". There are even some nice looking Sonic R. short setups to drool over. Go for it?

Not me! This is not the London session. Think of all the traders that start to go short now,.........and when FO/LO comes, the BBs spike the price up to run stops (on shorts) and trigger execution of wrong side trades (pending long orders). Some of our shorts might get their SLs hit!

Nope, not for me. I'll wait until the really big money comes to the table, and see what it does.

Back to basics,.....the London session!
  • #29,179
  • Edited 5:21pm Dec 21, 2011 4:53pm | Edited 5:21pm
Sonic R. System

1. M15 chart, London Session,.....London session,......London session!

2. Proper PA Wave

  1. For long L-H-HL, and for short H-L-LH
  2. First leg of wave goes all the way thru the Dragon
  3. Second leg of wave retraces into, or thru Dragon
  4. Third leg of wave moves back out of Dragon
  5. Wave depicts PA bounce from, or crossing of S&R area

3. Proper angle on Dragon

  1. Not flat, the steeper the better
  2. Sometimes the PA move is a strong reversal, so just look at the very end of the Dragon for angling

4. Proper entry

  1. PA on correct side of Dragon, above for longs, below for shorts
  2. Better still if PA also on correct side of Trend Line
  3. EP at least several pips beyond first PA wave leg#3 candle protruding out of Dragon

5. Set hard SL

  1. Choice #1 somewhere beyond end of wave leg #2
  2. Choice #2 somewhere before beginning of wave leg #1
  3. Recommend moving SL to BE soon as possible, maybe after PA has moved 20+ pips

6. Select reasonable TP(s)

  1. Coincide with historic S&R, or consolidation areas
  2. Recommend at least one TP within daily range

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  • #29,180
  • Dec 21, 2011 7:47pm Dec 21, 2011 7:47pm
Quoting traderathome
JD, you need to post charts, not just text.

Regarding the Trend Line, Sonicdeejay says PA should be above the Dragon for long, and better yet if above the Trend Line (the reverse for shorts). So, you see it is "....better yet....", but not required absolutely. Being picky means choosing setups and entries where PA is on the proper side of both the Dragon and Trend Line.

Now, here is what I see. And I am ignoring it! Why? Because all too many times these asian session setups go nowhere, or reverse. Not until the Big Money comes in am...
Thanks tah for confirming the short...yes I was aware that it was outside the london session...I was just curious if I picked out a valid trade other than the time and it sounds like I did.

But I was also curious in if your EP, and TP would had been the same and what you would have done with the SL considering it would had been much farther than the TP1?

Thanks!
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