Sonic R. System

Just post sth in FB..


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Sonic

As a result of Thursday and Friday moves, price ended the week at the highs for the week, which were first attained as a result of Monday's unwavering run up. From that run up on Monday, until the concluding run up on Friday, price didn't even drop 200 pips! In other words, for the entire week the market kept the price in a tight week range, running it up, selling off for two days, and running it back up on the last two days.

Setting aside any bias for "where the price is headed", this up/down week presented both short and long SonicR opportunities. And any "bias" probably kept you out of half of them, as it did me.

Due to last week's PA (taking price up from the lows of the preceding week) the Dragon has now turned to angling up on TFs below Daily. On TFs above Daily, the Dragon remains down. In that respect, there remains a bearish flavor. Moreover, on the Weekly, there is a Bear Flag. On top of that, PA has made this spurt up last week inside this Bear Flag. It that important? It could be, because more often than not, the exit down from a Bear Flag is preceded by such a "last minute" pop up inside the Flag, a pop that usually does not take PA back to the top TL of the Flag. Therefore, the market last week might have simply been setting this up for the breakout down.

This setting up last week by first running the price up, enabled the market to sell off for two days without dropping the price even 100 pips below the previous week lows. And running the price back up again afterwards allowed the market to continue to sell as others came back in long. And now the price is up high again, excellent for continued selling. All this is just a possibility of course, but there is no doubt a Bear Flag on the Weekly.

Another bearish aspect is that H4 shows PA activity over the past two weeks is consistent with the creation of a declining channel (inside the Weekly Bear Flag) with PA finishing last week at the highs of this channel.

Master Sonicdeejay continues with a bullish bias so long as PA and the Dragon justify such on lower TFs, which they do. I only post here about the Weekly Bear Flag, and the internal declining channel, so that if PA suddenly turns bearish again, it won't come as a surprise. Perhaps the thing to watch is how PA behaves early this week regarding the declining channel on H4. Maybe H4 should be our longer TF reference this week.

Regards,
-tah

Professor TAH,

Thx for the insight and counter-balancing me..

Whatever we do.. Let the dragon, waves show!!!


Cheers
Sonic

"Whatever we do.. Let the dragon, waves show!!! - Master Sonicdeejay

Aye, capt'n! Nothin' but lotsa trouble when thems ignored.

I also like to emphasis on importance of proper money management..
Without that, u cant swim with sharks for long..

Let ur profit run/breath, while cut ur SL..
e.g. I put my SL no more than 150 pip.. And I don't not take more than 2 SL per week..

Sonic

Hello everybody !!!As i was expecting last week market had retracement to 1.3140. By the dinapoli area 1.3140-1.3160 is confluence area. But market went up to 1.3180. So now I will be looking on inter week situation

SOO you're saying dont leverage 400:1 on a 1000 dollar account, gotcha .
I also find that looking at 4 hour chart to find where SL can be placed.

Grrrrrrrrrrr........., okey Master. But I have trades already outside that limit, so I'll comply on an ongoing basis.

-tah

150 pip SL

In other words, bond market participants think the new economic program will fail to meet its budget deficit targets, creating a financing gap that will have to be filled by additional funds from the official sector and/or another restructuring of the Greek public debt. If indeed, an additional financing gap arises and no extra official loans or/and debt relief materializes, Greece will likely default.

It is well known that Spain's economy is in a depression, and we do not use this term lightly.

EJ:

This has had heaviest trading at highs so far. So I'm wondering if, when a setup comes, will it be for a short. Still early in the session.

It looks short

I will take t chill pill..

I am chilling !!!! Looks doesn't mean there is set up for short !!!!!

Oooh! Chill, chill. My hands get cold and shaky, and kin accidentally hit that trigger key!

But, hey, do I see that PA broke the TL? 'Course, doesn't mean the LO boys won't take it up, but it is another bearish sign.

Morgan is selling JPY, since Thursday. Are you sure about short ?

In currency, there is a range movement, the lowest & the highest.

Let's see.


breeze

EJ:

Selling, as in closing longs or as in opening shorts?

Opening shorts for JPY . They are not intr day traders, so probably they are establishing some carry traders at least for couple month