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- #30,842
- Feb 16, 2012 3:05pm Feb 16, 2012 3:05pm
- Joined Jan 2012 | Status: Trader | 1,005 Posts
Market Comment:
Aside from some remaining old trades, I closed all new ones at profit; 14 this week, and all profitable for a net gain of 527 pips. I closed all well before the USD releases today because I saw things as possibly becoming too volatile to have any open trades. So what now?
Attached is how I see the market right now, using EU as the example. I see the market as remaining bullish on USD. Even though the moves today were contrary to that hypothesis, I rack that up to the market's greed and deception at play, full bore ([b]USD...
Thank you Tah.
- #30,843
- Feb 16, 2012 3:32pm Feb 16, 2012 3:32pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
sl hit - 20 pips. It was bad idea to use m1
1. PA hits high on relative high volume.
2. PA later hits higher high, but on less volume than before.
3. Then PA later hits lower high, but on higher volume again....
...and that is the time, if there is a "setup", to trade the setup, because after the third qualifying high in the series, the momentum follows due to the fact the market went back to retest the area of the previous highs and sooner encountered increased trading (interest) causing the lower high and higher volume.
It is a theory. I'm watching to see how PA plays out here....
tah
- #30,845
- Feb 16, 2012 5:56pm Feb 16, 2012 5:56pm
On very short TF trading, I'm hypothesizing that there is a setup when:
1. PA hits high on relative high volume.
2. PA later hits higher high, but on less volume than before.
3. Then PA later hits lower high, but on higher volume again....
...and that is the time, if there is a "setup", to trade the setup, because after the third qualifying high in the series, the momentum follows due to the fact the market went back to retest the area of the previous highs and sooner encountered increased trading (interest) causing the lower high and higher...
... Keep replying master - #30,846
- Feb 16, 2012 5:57pm Feb 16, 2012 5:57pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #30,847
- Feb 16, 2012 6:10pm Feb 16, 2012 6:10pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #30,848
- Feb 16, 2012 6:56pm Feb 16, 2012 6:56pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #30,849
- Feb 16, 2012 6:56pm Feb 16, 2012 6:56pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Hopped in GJ targeting a 2:1 RR with TP at Daily resistance 1
The asian market typically shows nice looking "setups", that usually don't run worth a darn, even reverse come FO/LO! It is a reason Sonicdeejay recommends trading the London session; all important players present, best trading levels, best momentum.
Anyway, if GJ does go up, check the daily chart. I see a key SR area around 125.70, which would be the range high mark (see pics. attached).
BTW, check your PMs.
tah
- #30,850
- Feb 16, 2012 6:57pm Feb 16, 2012 6:57pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
gotcha currentlly up 13 so I think I'll set to BE and let her run and see what happens
EDIT; Closed for a quick 50 pips after price shot up due to the high volume.. will wait till london
EDIT; Closed for a quick 50 pips after price shot up due to the high volume.. will wait till london
- #30,851
- Feb 16, 2012 7:49pm Feb 16, 2012 7:49pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
gotcha currentlly up 13 so I think I'll set to BE and let her run and see what happens
EDIT; Closed for a quick 50 pips after price shot up due to the high volume.. will wait till london
Glad you are out with some of the market's money!Check your PMs and your email.
- #30,852
- Feb 16, 2012 7:49pm Feb 16, 2012 7:49pm
...still in your EJ long?
- #30,853
- Feb 16, 2012 8:26pm Feb 16, 2012 8:26pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #30,855
- Feb 16, 2012 9:25pm Feb 16, 2012 9:25pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
- #30,857
- Feb 16, 2012 11:34pm Feb 16, 2012 11:34pm
- Joined Mar 2011 | Status: Pip Boy Wonder | 1,378 Posts
I'll be looking out for eu during london 
- #30,858
- Edited 1:11am Feb 17, 2012 12:36am | Edited 1:11am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
TAH what d'u think about AUSie? Am i right? Limit , stop or handy?
SHCH
1. Not yet London session
2. Dragon not yet angled down
3. PA on wrong side of Dragon
4. Without a SL
5. Without a TP
You do not have a Sonic R. System trade, so I am not obliged to comment any further except to say if you are not going to follow the few, important rules you are wasting your time on this thread.
tah
- #30,859
- Feb 17, 2012 1:21am Feb 17, 2012 1:21am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU and Market Comment:
Sonikers, today is friday and we are past the best trading of the week under normal situations. This is not a normal situation. This is not to say that we should be coveting a trade today, but to say that maybe especially today we should sit out.
Yesterday had five USD high impact releases, and not a bad scent in the lot of 'em! Yet the market choose to push against the USD. It doesn't matter why the market did this. What does matter is that the market has recently demonstrated how it, and it alone, decides in which direction price moves, and to hell with the "news".
So, normally Friday is a "sit out" day, but today if you are looking to enter a trade, please be very much extra careful to have a strong Sonic R. System setup. Nothing less than the best would be safest. And don't forget there is yet another USD high impact release today. It could be the catalyst for more anti-USD movement, or a sudden surprise reversal,....whatever the market wants to do. You can think of it this way,.....the market is not married to technicals. It creates pictures. It doesn't necessarily follow them!
tah
Sonikers, today is friday and we are past the best trading of the week under normal situations. This is not a normal situation. This is not to say that we should be coveting a trade today, but to say that maybe especially today we should sit out.
Yesterday had five USD high impact releases, and not a bad scent in the lot of 'em! Yet the market choose to push against the USD. It doesn't matter why the market did this. What does matter is that the market has recently demonstrated how it, and it alone, decides in which direction price moves, and to hell with the "news".
So, normally Friday is a "sit out" day, but today if you are looking to enter a trade, please be very much extra careful to have a strong Sonic R. System setup. Nothing less than the best would be safest. And don't forget there is yet another USD high impact release today. It could be the catalyst for more anti-USD movement, or a sudden surprise reversal,....whatever the market wants to do. You can think of it this way,.....the market is not married to technicals. It creates pictures. It doesn't necessarily follow them!
tah
- #30,860
- Feb 17, 2012 1:30am Feb 17, 2012 1:30am
EU and Market Comment:
Sonikers, today is friday and we are past the best trading of the week under normal situations. This is not a normal situation. This is not to say that we should be coveting a trade today, but to say that maybe especially today we should sit out.
Yesterday had five USD high impact releases, and not a bad scent in the lot of 'em! Yet the market choose to push against the USD. It doesn't matter why the market did this. What does matter is that the market has recently demonstrated how it, and it alone, decides...
Thanks tah, really appreciate your analysis. I've had a phenomenal week trading this system, so I think I might take the afternoon off and head to the beach!
Good luck guys.