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Sonic R. System

  • #31,001
  • Edited 5:24pm Feb 20, 2012 4:51pm | Edited 5:24pm
Market Comment:

As we move from the end of the US session of one day into the asian session of the next day, we have volume lower than for any recent same period. This probably means the market is flat worn out. It has milked the range of the various USD pairs for all it is worth. There isn't anything left to do but wait for some BB to make a another liquidity creating push ahead of Wednesdays news, or wait for the news itself.

I think the only thing of interest that Tueday holds for us, is to see what the US BBs are going to do with the limited time left before Wednesdays news. Yesterday the market had prices a bit further in the anti-USD direction than they are now. The US BBs, in their greed, might decide they too deserve a crack at trading at those previous levels. So, do we see another liquidity creating push by the US BBs, or not?

What else of interest is there until Wednesdays high impact releases? Nothing that I can see, not unless some big player in the market says "To hell with this crap! We're going pro-USD ahead of everybody else." And suddenly we get a pre-release move going.

So, waiting again for LO, and to see if any Sonic R. setup comes around that looks good.....

tah
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  • #31,002
  • Feb 20, 2012 5:10pm Feb 20, 2012 5:10pm
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
It is an "art". Follow along reading the thread. Much is stated about volume off and on within the thread. Much about "reading" volume is subjective, based on how the market is playing PA overall with regard to previous news and upcoming news.

We don't trade based on volume. We don't trade based on news. We trade based on the few, important rules of the Sonic R. System. But "news" does affect PA (we just cannot know in advance in what way, nor do we try to know). And volume behind previous PA can sometimes provide clues as to the validity of any current setup.

Stick to the Sonic R. System rules. Nothing in the rules involves any specific requirement of volume, so don't lead yourself astray. Just keep reading the thread and you will pick up on things said about volume off and on.

Regards,
-tah
  • #31,003
  • Feb 20, 2012 5:12pm Feb 20, 2012 5:12pm
UJ might look to continue it's uptrend. I am looking to trade yen pairs still since the past couple of weeks
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  • #31,004
  • Feb 20, 2012 5:23pm Feb 20, 2012 5:23pm
Theres volume gaining on EU right now with a nice downmove. dragon is starting to point toward 3.

I think london will be good to us tonight =)
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  • #31,005
  • Edited 5:41pm Feb 20, 2012 5:31pm | Edited 5:41pm
Quoting traderathome
Market Comment:

As we move from the end of the US session of one day into the asian session of the next day, we have volume lower than for any recent same period....

What else of interest is there until Wednesdays high impact releases? Nothing that I can see, not unless some big player in the market says "To hell with this crap! We're going pro-USD ahead of everybody else." And suddenly we get a pre-release move going.
Golly gee! An actual strong bear bar,......now? Maybe certain elements of the market aren't going to wait for Wednesday! If price gets pulled back up to EP zone, I'm in LO or no LO. And will use a tight SL up to FO. However, I am not going to chase a trade. Besides, no matter what the asian session does, the London session can undo, and if for no other reason than to replay the drop over for themselves. The only question for now is will price pull back to EP and then run even further down before LO?

-tah
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  • #31,006
  • Feb 20, 2012 5:46pm Feb 20, 2012 5:46pm
Quoting traderathome
Golly gee! An actual strong bear bar,......now? Maybe certain elements of the market aren't going to wait for Wednesday! If price gets pulled back up to EP zone, I'm in LO or no LO. And will use a tight SL up to FO. However, I am not going to chase a trade. Besides, no matter what the asian session does, the London session can undo, and if for no other reason than to replay the drop over for themselves. The only question for now is will price pull back to EP and then run even further down before LO?

-tah
spot on professor. I am also waiting for a pullback.. but with such a big move before london I would also be very careful as to where price wants to head once it's open... this will be quite interesting I'm going to need a lot of coffee =)

usd pairs are moving quite nicely here's UCad
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  • #31,007
  • Feb 20, 2012 6:04pm Feb 20, 2012 6:04pm
Quoting traderathome
Golly gee! An actual strong bear bar,......now? Maybe certain elements of the market aren't going to wait for Wednesday! If price gets pulled back up to EP zone, I'm in LO or no LO. And will use a tight SL up to FO. However, I am not going to chase a trade. Besides, no matter what the asian session does, the London session can undo, and if for no other reason than to replay the drop over for themselves. The only question for now is will price pull back to EP and then run even further down before LO?

-tah
AU:

As with EU, have EP order pending in event of pullback up to EP zone. And looking only for a pre-LO drop.
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  • #31,008
  • Feb 20, 2012 6:20pm Feb 20, 2012 6:20pm
Ive been in AU with my pending sell triggered @1.0740 SL just above the last high @ 1.0780.

Looked too good to pass up
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  • #31,009
  • Feb 20, 2012 6:35pm Feb 20, 2012 6:35pm
Lowered SL to 1.07302 and locked in +10
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  • #31,010
  • Feb 20, 2012 6:42pm Feb 20, 2012 6:42pm
Quoting Dyekid217
Lowered SL to 1.07302 and locked in +10
SL management.

Need more discussion on SL and management of it on this thread. Whipsawing by the market to generate liquidity for it's position building is, in part, designed to hit SLs (but also to trigger "wrong trade" entries into market). Set SLs tight, get taken out. Set SLs real wide to avoid getting hit by whipsaw, and you are gambling on out thinking the market. Get hit with such a wide SL, and that really hurts.

More discussion on this from time-to-time, in real-time based on current market at the time, might really help all of us Sonikers.

Good going, Dyekid217.

-tah
  • #31,011
  • Feb 20, 2012 6:48pm Feb 20, 2012 6:48pm
yeah I agree. got stopped out quickly for +10.. will possibly wait for a new lower high to re-enter or will just wait it out till LO

EDIT: gap was just filled as well with a pinbar and high volume.. Will be interesting to see what it does so I think I'll stay sidelined til london
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  • #31,012
  • Feb 20, 2012 7:00pm Feb 20, 2012 7:00pm
EU:

Entered short (EP= 1.3223).
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  • #31,013
  • Feb 20, 2012 7:05pm Feb 20, 2012 7:05pm
Sonikers fr US,,

Get some sleep..

Sonic
  • #31,014
  • Feb 20, 2012 7:11pm Feb 20, 2012 7:11pm
master sonic always clobbered us that asian sessions even pre-LO are not good to trade with, using sonicr, it gives false setups.

this method gives more than expected positive hit rate if done right, unless your just playing suicidal entries with your trades.
  • #31,015
  • Feb 20, 2012 7:24pm Feb 20, 2012 7:24pm
Quoting alrightfrank
master sonic always clobbered us that asian sessions even pre-LO are not good to trade with, using sonicr, it gives false setups.

this method gives more than expected positive hit rate if done right, unless your just playing suicidal entries with your trades.
True enough. And no one knows better than I! However, last Thursday the asian session started a run that ended almost 90 pips lower later in the day. We are in unusual times. There is a gap to fill. And PA has been weakening since early London session yesterday. I'm not saying PA won't/can't be slammed suddenly back up with another liquidity creation move. It can. No one knows. There is no certainty. But I see the odds as higher than normal that the asian session could have a bit of a run down. And I could be wrong.

-tah
  • #31,016
  • Edited 8:09pm Feb 20, 2012 7:48pm | Edited 8:09pm
Quoting traderathome
True enough. And no one knows better than I! However, last Thursday the asian session started a run that ended almost 90 pips lower later in the day. We are in unusual times. There is a gap to fill. And PA has been weakening since early London session yesterday. I'm not saying PA won't/can't be slammed suddenly back up with another liquidity creation move. It can. No one knows. There is no certainty. But I see the odds as higher than normal that the asian session could have a bit of a run down. And I could be wrong.

-tah
agreed.. these gaps need to get filled!! most likley sooner than later.. the ranges on most usd pairs are large today so I'm expecting big moves. Only time will tell.

this is also a good area of supply from last week
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  • #31,017
  • Edited 8:59pm Feb 20, 2012 8:38pm | Edited 8:59pm
re-entered au pending sell was triggered at 1.0708

EDIT: SL just set to BE and letting her ride =) up 20 pips in a matter of seconds

whoa just got stopped out real fast.. wonder what this spike was caused from..

ah here we go.. .taken from the EU thread

Tuesday, Feb 21, 2012 01:50 PM
. . . . . . . . . . . . . . . . . . . . . . . . .
EURO ZONE FINANCE MINISTERS REACH DEAL ON GREEK PACKAGE, FINANCING TO TOTAL 130 BLN EUROS, DEBT-TO-GDP TO FALL TO 121 PCT BY 2020 - EU OFFICIAL
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  • #31,018
  • Feb 20, 2012 8:59pm Feb 20, 2012 8:59pm
Quoting Dyekid217
re-entered au pending sell was triggered at 1.0708

EDIT: SL just set to BE and letting her ride =) up 20 pips in a matter of seconds

whoa just got stopped out real fast.. wonder what this spike was caused from

Sudden Spike on few currencies, watching E/U.
Also not sure where it came from ???
The closest Red News is from Aust where the RBA speaking, perhaps someone may know what he said that may have a quick impact.
Or there is a bank/govt intervention somewhere ??
  • #31,019
  • Feb 20, 2012 9:01pm Feb 20, 2012 9:01pm
hey just check my edited post.

Greek deal has been met
  • #31,020
  • Feb 20, 2012 9:02pm Feb 20, 2012 9:02pm
i rest my case.... i just hope nobody got hurt. as master sonic use to say "told cha..."
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