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Sonic R. System

  • #30,881
  • Feb 17, 2012 6:56am Feb 17, 2012 6:56am
AU short at 1.0747
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What Goes Up Must Come Down, But When?
  • #30,882
  • Feb 17, 2012 7:08am Feb 17, 2012 7:08am
GU:

Entered short (EP= 1.5805).

Thought AU would be only trade. However, this has been greatly pumped over last days, and now it looks like EU, GU, etc. were the ones showing greedy grabs. Anyway, taking the setup on the prospects for some downside in what is left of the day.

This could be a mad dash down thru the whole number, after a liquidity creating head fake that enabled the market to acquire additional shorts.
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  • #30,883
  • Feb 17, 2012 7:09am Feb 17, 2012 7:09am
Quoting ChowClown
With you on this one.
Stop to b/e (1.0743), it can do what it likes now. It's the weekend!

Thanks again, SDJ, TAH and others. First week learning Sonic and kicking myself for not using it sooner. Great strategy, great thread.
  • #30,884
  • Feb 17, 2012 7:11am Feb 17, 2012 7:11am
Quoting traderathome
GU:

Entered short (EP= 1.5805).

Thought AU would be only trade. However, this has been greatly pumped over last days, and now it looks like EU, GU, etc. were the ones showing greedy grabs. Anyway, taking the setup on the prospects for some downside in what is left of the day.
Good call. I might be tempted, if it breaks support around the RN.
  • #30,885
  • Feb 17, 2012 7:12am Feb 17, 2012 7:12am
you guys are brave I never really had it in me to enter trades on friday. But good luck!!

I will recoop and wait till monday .. have already bagged 150 pips in the past two days so I'm happy with this week
  • #30,886
  • Feb 17, 2012 7:27am Feb 17, 2012 7:27am
Quoting traderathome
AU:

Entered short (EP= 1.0748). Awoke to find order triggered.

Market is a mixed bag. AU going down? EU has gone up! Market is posturing for next week, with some moves genuinely depicitng bias, and other moves depicting greedy grabs!

This is my last trade for the week. And if AU is to follow EU, then I'm on the wrong side of a greedy grab.

-tah
AU:

Lowered SL to BE+2 = 1.0743, just as ChowClown has done.
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  • #30,887
  • Feb 17, 2012 7:29am Feb 17, 2012 7:29am
hey guys might be a nice quick scalp back to DR1 on EU check it out

There was a volume climax on this previous 15m downbar but it caused price to rally and is about to close near the highs showing buying pressure

EDIT: also see how price broke a monthly resistance and is now acting as support
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  • #30,888
  • Feb 17, 2012 7:32am Feb 17, 2012 7:32am
EU:

Whoa! That looks like a granddaddy of a selloff bar! The market might be starting to show its true bias now . Notice the trading levels continued higher as the price was pumped higher. That is frequently a sign of liquidity creation; BBs pumping to close longs and open shorts(speculative).
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  • #30,889
  • Edited 7:46am Feb 17, 2012 7:34am | Edited 7:46am
TAH check my analysis.. it seems we might be in disagreement. I see the high volume but price rallied and closed on the highs in the next 15m bar.. buying pressure? also theres the MR1 that was broken.. now acting as support?

EDIT: check out the weekly candle also. There's way too much buying pressure for me to see bears right now.. looks like a fake out

In long EU targeting daily highs again for 1:1 RR Will most likely close out before market closes
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  • #30,890
  • Edited 8:18am Feb 17, 2012 7:46am | Edited 8:18am
Quoting Dyekid217
TAH check my analysis.. it seems we might be in disagreement. I see the high volume but price rallied and closed on the highs in the next 15m bar.. buying pressure? also theres the MR2 that was broken.. now acting as support?

EDIT:MR2 just turned into MR1
After such a uniform push up with increasing volume along the way, it signifies the market is more attracted to trading the higher the price gets pushed. What do we do at highs (hint: "Buy low, sell high.")?

Of course this is speculative. But with USD high impact release data continuing to be positive overall, one must ask themselves "At what point is the market going to cease it's anti-USD charade?"

To me, this last movement up has been liquidity creation. The market hits stops on right side positions (shorts) and forces into the market pending wrong side orders (longs), both of which increase market liquidity, allowing the market to obtain more shorts. And now that the market has the price nice and high, it won't let it down any too quickly. While price is held it up there is more time to coax in longs, enabling the market to short more! If this is happening, then when the "pending longs" wise up and dry up, and the market can't get more shorts, it will drop the price like a hot potatoe, because the market will want to "trap" existing longs before they too wise up and close too early. The market needs to trap longs for quite some pips in order to make profit. When longs finally give up, selling to close longs, that is when the market starts to take profits by taking advantage of that liquidity, and buying to close it's shorts.

We'll see what happens.

-tah
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  • #30,891
  • Feb 17, 2012 7:49am Feb 17, 2012 7:49am
yeah I'm kinda 50/50 on this position right now but its a 1:1 so I'm not shooting for the stars

Hopefully the support holds at 1.3142 and I come out with 35 pipps
  • #30,892
  • Feb 17, 2012 8:23am Feb 17, 2012 8:23am
Gee, I wonder where Master Sonicdeejay has been for the last two days? You don't suppose he is on yet another vacation, do you?

Just "funning" Master! It's Friday, and we are all waitng to see what the market is going to show us, if anything, as it starts to run out of time for the week. Look forward to seeing you next week.

tah
  • #30,893
  • Feb 17, 2012 8:33am Feb 17, 2012 8:33am
Quoting traderathome
AU:

Lowered SL to BE+2 = 1.0743, just as ChowClown has done.
AU:

Lowered SL again to BE+29= 1.0726, EP= 1.0748.

Edit:
Trade closed at TP= 1.0691 for 57 pips EP to TP.
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  • #30,894
  • Feb 17, 2012 8:43am Feb 17, 2012 8:43am
Quoting ChowClown
Stop to b/e (1.0743), it can do what it likes now. It's the weekend!

Thanks again, SDJ, TAH and others. First week learning Sonic and kicking myself for not using it sooner. Great strategy, great thread.

AU short closed @ 1.0693 for +50 (Entry: 1.0743).
  • #30,895
  • Feb 17, 2012 8:43am Feb 17, 2012 8:43am
here's why I'm still long EU. SL just below the demand zone
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  • #30,896
  • Feb 17, 2012 8:52am Feb 17, 2012 8:52am
Quoting Dyekid217
here's why I'm still long EU. SL just below the demand zone
OK for now, just be mindful that PA is printing LLs on the 15 and there looks to be a H&S forming...just my pov; hope it's wrong for your trade.
  • #30,897
  • Feb 17, 2012 8:55am Feb 17, 2012 8:55am
yup if not I'll take the hit for the loss.. right now it's in a range just hoping to get back towards the top of the range to close at BE or if PA is telling me to stay in I will..

shouldve hopped in the AUDUSD trade with you guys instead
  • #30,898
  • Feb 17, 2012 9:02am Feb 17, 2012 9:02am
Quoting Dyekid217
here's why I'm still long EU. SL just below the demand zone
Ok, I see that. Some other things also to consider:

1. Wave - lower highs and lower lows.
2. Volume at "support" dropped considerably on second push down. Fewer are challanging the push down. So, eventually, the longs are going to lose the battle if the market keeps hitting them. (Speculative.)


tah
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  • #30,899
  • Feb 17, 2012 9:08am Feb 17, 2012 9:08am
Quoting traderathome
GU:

Entered short (EP= 1.5805).

Thought AU would be only trade. However, this has been greatly pumped over last days, and now it looks like EU, GU, etc. were the ones showing greedy grabs. Anyway, taking the setup on the prospects for some downside in what is left of the day.

This could be a mad dash down thru the whole number, after a liquidity creating head fake that enabled the market to acquire additional shorts.
Hi Tah, Do you think it is still good to short ?
  • #30,900
  • Feb 17, 2012 9:16am Feb 17, 2012 9:16am
Quoting okanemici
Hi Tah, Do you think it is still good to short (GU)?
The London session has ended. The US BBs remain. Friday is, as Master Sonicdeejay has often reminded us, a day when the BBs go stop hunting late in the day. This could mean the price at least remains up, if not another spike up (assuming the market is posturing for a drop next week).

Stricly speaking, since we are out of the London session (and with no "tomorrow"), entering any trade now is extremely questionable under the Sonic R. System rules. Don't you think so, too?

As for my GU trades, I am likely to close sometime today, gain or loss.


tah
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