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Sonic R. System

  • #30,981
  • Feb 20, 2012 4:35am Feb 20, 2012 4:35am
GU:

This is a SonicR short setup. I am already short from Friday. If I were not, I'd be looking at this one now.
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  • #30,982
  • Feb 20, 2012 5:08am Feb 20, 2012 5:08am
Quoting traderathome
GU:

This is a SonicR short setup. I am already short from Friday. If I were not, I'd be looking at this one now.
What I saw was a long. (sorry about the chart, still trying to figure out how to mark it up)

TP is at 1.3272
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  • #30,983
  • Feb 20, 2012 5:09am Feb 20, 2012 5:09am
Quoting ArtfulDodger
What I saw was a long. (sorry about the chart, still trying to figure out how to mark it up)
TAH, is referring to GBP/USD.
  • #30,984
  • Feb 20, 2012 5:16am Feb 20, 2012 5:16am
Quoting ArtfulDodger
What I saw was a long. (sorry about the chart, still trying to figure out how to mark it up)

TP is at 1.3272
Be careful. This little push up might be just more of the same the market has engaged in already today; a push up create liquidity for more shorting.

tah
  • #30,985
  • Feb 20, 2012 5:16am Feb 20, 2012 5:16am
Quoting ChowClown
TAH, is referring to GBP/USD.
OOPS! My bad
  • #30,986
  • Feb 20, 2012 5:22am Feb 20, 2012 5:22am
Quoting traderathome
Be careful. This little push up might be just more of the same the market has engaged in already today; a push up create liquidity for more shorting.

tah
I have a TP but couldn't figure out how to get the top portion to show on the chart (tried zooming and scaling with no luck).

I added a note about it in the first post.
  • #30,987
  • Feb 20, 2012 5:22am Feb 20, 2012 5:22am
Hi all!

Hope everyone had a good weekend!

I have entered long on EURUSD

EP:: 1.32317 (Broke HH)
SL:: 1.32020 (DS1 + Round Number)
TP:: 1.32717 (DR3)

Currently at +23p..

Sorry for the delay post.
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  • #30,988
  • Edited 5:46am Feb 20, 2012 5:22am | Edited 5:46am
Market Comment:

Using EU as an example, it is more and more looking like the market is going to do nothing but milk the highs for shorts and engage in occassional pushes up to create liquidity for more shorting when the milking grounds run dry. And now I'd expect more of the same tomorrow, since the US players come back to the table with their liquidity providers. Wednesday and afterwards looks like the important time of this week. That is when the next bout of high impact releases hit. Until then, the market looks only to be posturing.

If this is correct, there could still be trend-following setups, as with what just happened on EU. But expectancies for such trades might best be very conservative today. Tomorrow, the US BBs could mount a nice liquidity creation push, so maybe then expectancies for a trend following trade might be a bit more aggressive, but still cautious. Again, all this is assuming the hypothesis is correct; that the market continues pushing up in order to build short positions ahead of the next bout of high impact releases. It might not be.

The closer PA gets to the next whole number in the direction things have been moving (all USD pairs now), the less inclined I am to consider even a very conservative trend following, anti-USD trade. At this point I'd rather wait, even to Wednesday if necessary, to see what happens when PA gets to these whole number areas (if it gets to them).

WARNING: Speculation.

tah
  • #30,989
  • Feb 20, 2012 5:25am Feb 20, 2012 5:25am
Quoting Konata
Hi all!

Hope everyone had a good weekend!

I have entered long on EURUSD

EP:: 1.32317 (Broke HH)
SL:: 1.32020 (DS1 + Round Number)
TP:: 1.32717 (DR3)

Currently at +23p..

Sorry for the delay post.
Almost identical to my trade! Great minds think alike?

Just moved my stoploss to 1.3248 to secure a few pips in case it turns. (my entry was 1.3235)
  • #30,990
  • Feb 20, 2012 5:36am Feb 20, 2012 5:36am
Quoting ArtfulDodger
Almost identical to my trade! Great minds think alike?

Just moved my stoploss to 1.3248 to secure a few pips in case it turns. (my entry was 1.3235)
Hehe~
Just trying to follow the rules and get feedback on rights and wrongs..

Closed Trade for +40p.
  • #30,991
  • Feb 20, 2012 5:55am Feb 20, 2012 5:55am
Hello Sonickers!
The best example of this? I understand well what is it?
I honestly do not know how to interpret volume.

Thanks
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  • #30,992
  • Feb 20, 2012 6:06am Feb 20, 2012 6:06am
Quoting Konata
Hehe~
Just trying to follow the rules and get feedback on rights and wrongs..

Closed Trade for +40p.
Nicely done! As far as i can tell, it looked a picture perfect setup.

I didn't take it for two reasons 1/. trading into the 4hr supply/resistance zone 2/. US holiday.
  • #30,993
  • Feb 20, 2012 6:36am Feb 20, 2012 6:36am
Inserted Video


Sonic
  • #30,994
  • Feb 20, 2012 6:37am Feb 20, 2012 6:37am
it's good entry ?
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  • #30,995
  • Feb 20, 2012 6:59am Feb 20, 2012 6:59am
Quoting Konata
Hehe~
Just trying to follow the rules and get feedback on rights and wrongs..

Closed Trade for +40p.
My results were also very similar to yours. My trade got stopped out
for a +37 profit.

Not a bad start for a questionable day to trade!
  • #30,996
  • Feb 20, 2012 8:02am Feb 20, 2012 8:02am
Hello, dear Sonikers!

Is it a good setup to close the gap?

Regards,
ad4x.
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  • #30,997
  • Feb 20, 2012 8:33am Feb 20, 2012 8:33am
Quoting ad4x
Hello, dear Sonikers!

Is it a good setup to close the gap?

Regards,
ad4x.
Looks a good wave to trade, but the psych level appears to be the key (1.0750). I'd want to see a break and close below it, ideally on the 15min.
  • #30,998
  • Feb 20, 2012 8:42am Feb 20, 2012 8:42am
Kind of looks as if a short may be on the horizon, but who knows!
  • #30,999
  • Feb 20, 2012 8:56am Feb 20, 2012 8:56am
Quoting ArtfulDodger
Kind of looks as if a short may be on the horizon, but who knows!
I don't see an EU wave yet (it's still forming wave 1 on the 15min), EJ might be a better prospect...
  • #31,000
  • Feb 20, 2012 4:47pm Feb 20, 2012 4:47pm
Quoting vaxx
Hello Sonickers!
The best example of this? I understand well what is it?
I honestly do not know how to interpret volume.

Thanks
Analyzing volume can be double edged sword..
After all, price is the one we trade..

Sonic
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