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Sonic R. System

  • #34,081
  • Apr 25, 2012 10:33am Apr 25, 2012 10:33am
Quoting traderathome
It's a "re-entry" trade, not an initial classic SonicR trade. But, yes, even for a re-entry trade it is best to wait for PA to move beyond previous H/Ls. In this case, I took my que from PA seemingly making a bounce down off of the SR that it broke down thru earlier.

With staged USD releases, today is likely to be lots of ranging and possibly even some whipping. Since the first USD release prices (EU, GU) appear reluctant to move much either way. I think the BBs are continuing ranging, taking their time to coax in "wrong side traders", and...
GU:

BBs are whipping it right back up again....
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  • #34,082
  • Apr 25, 2012 10:36am Apr 25, 2012 10:36am
Quoting duyk20
it's rather a trap.

http://cl.jroo.me/z3/I/e/I/d/a.aaa-Its-a-Trap-Fail-.jpg
Thank you for the laugh, this was a funny pic I never seen before!

Price on the longer term charts for many things are all packed into corners, I mentioned last week that it seems the market is waiting for the Fed here and this is still my belief right or wrong. Last FOMC brought a huge move in Gold and the USD and both followed through with that direction. I am expecting the same thing here, I will trade it in the main direction the market takes it as I think today is D-day. There are some big TL's and S/R zones in play, once definitively broken I'm in.

GLTA
  • #34,083
  • Apr 25, 2012 11:22am Apr 25, 2012 11:22am
AU
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  • #34,084
  • Apr 25, 2012 11:44am Apr 25, 2012 11:44am
Quoting jayjonbeach
Price on the longer term charts for many things are all packed into corners, I mentioned last week that it seems the market is waiting for the Fed here and this is still my belief right or wrong. Last FOMC brought a huge move in Gold and the USD and both followed through with that direction. I am expecting the same thing here, I will trade it in the main direction the market takes it as I think today is D-day. There are some big TL's and S/R zones in play, once definitively broken I'm in.
As suspected no more "printing" for now, and I'm sure this was what the market was expecting as well, so far no real movements, Gold dipped but already bouncing back up pretty much.

Not sure what the 2pm meeting is other than forecasting, so if the market wasn't waiting for this, what then?
Any big news coming from Europe soon?
  • #34,085
  • Apr 25, 2012 11:46am Apr 25, 2012 11:46am
Quoting abyarforx
AU
Nice chart, top channel line and reaction something to watch for sure
  • #34,086
  • Apr 25, 2012 12:00pm Apr 25, 2012 12:00pm

Quoting hansma
Let´s see where she will go
Where EurUsd willgo??

Inserted Video
  • #34,087
  • Apr 25, 2012 12:28pm Apr 25, 2012 12:28pm
please share you view on the setup kind or fink sell is good
  • #34,088
  • Apr 25, 2012 12:34pm Apr 25, 2012 12:34pm
Quoting japfx
please share you view on the setup kind or fink sell is good

thank sonicr
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  • #34,089
  • Edited 1:04pm Apr 25, 2012 12:51pm | Edited 1:04pm
I find its worth while trading other set ups aswell, while this isn't sonicR setup, when there isn't one I usually look for divergence on CCI on the 5m chart, this works best for EU, I look for two peaks above 100 or under -100, over 200 or under -200 is a better signal, TP is usually what I deem to be the next S/R, be it a whole/half number, daily pivot/s/r, good for quick scalps of 10-30 pips or so from the market, entry's are near S/R, whole/half numbers etc. Using MACD also can help to double confirm a position, however if CCI is showing divergence and MACD isn't, its no biggy. A couple of these a day and you're laughing.
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  • #34,090
  • Apr 25, 2012 12:55pm Apr 25, 2012 12:55pm
Man what are u doing HERE? what a .... read this S_O_N_I_C_R......
Quoting japfx
thank sonicr
  • #34,091
  • Apr 25, 2012 1:08pm Apr 25, 2012 1:08pm
Quoting GDR3k
Using MACD also can help to double confirm a position, however if CCI is showing divergence and MACD isn't, its no biggy. A couple of these a day and you're laughing.
Divergence is a great early warning signal of a possible reversal coming, I use the MACD for the most part and usually bigger TF's more accurate like most things. I'll never trade only it, its just my heads up to keep my eyes peeled for my usual signals.
  • #34,092
  • Apr 25, 2012 1:15pm Apr 25, 2012 1:15pm
Quoting jayjonbeach
Divergence is a great early warning signal of a possible reversal coming, I use the MACD for the most part and usually bigger TF's more accurate like most things. I'll never trade only it, its just my heads up to keep my eyes peeled for my usual signals.
Indeed, it works well on all timeframes but I can imagine it working better on the bigger ones
  • #34,093
  • Apr 25, 2012 1:33pm Apr 25, 2012 1:33pm
Quoting expresid
Man what are u doing HERE? what a .... read this S_O_N_I_C_R......


We are here to make money...... thanks
  • #34,094
  • Apr 25, 2012 2:46pm Apr 25, 2012 2:46pm
Quoting jayjonbeach

Anyway I bought 40,000 shares today @ 0.38, had I been watching closer (again too many pots on the stove) I might have got in lower since it was a weekly support where it bounced. Nevertheless, it could go lower again tomorrow and I will buy more, and I should probably buy more even at 0.40.
Fwiw - I bought another 20,000 today, lots of buyers stepping in and price is holding up at this level. Company released news near EOD that they already have multiple offers for financing. This is a little more exposure to one instrument than I would allow normally, but these were not 'normal' conditions as this is practically fire sale prices and a huge over reaction, and I love a good bargain!
  • #34,095
  • Apr 25, 2012 7:35pm Apr 25, 2012 7:35pm
Morning,

EU short looks bad, out of control now.
  • #34,096
  • Apr 25, 2012 8:13pm Apr 25, 2012 8:13pm
Quoting duyk20
Morning,

EU short looks bad, out of control now.
Trading is a probability game. If one can't handle the truth, this business isn't suit for the person.

If anyone said 100% win/hit rate, give him/her a tight slap..

Our job is to minimize our loss and maximize the profit with proper money management.


Sonic
  • #34,097
  • Apr 25, 2012 8:47pm Apr 25, 2012 8:47pm
My EJ short hit SL, never trade EJ pair anymore...
Keep Simple...!
  • #34,098
  • Apr 25, 2012 9:07pm Apr 25, 2012 9:07pm
Quoting sonicdeejay
Trading is a probability game. If one can't handle the truth, this business isn't suit for the person.

If anyone said 100% win/hit rate, give him/her a tight slap..

Our job is to minimize our loss and maximize the profit with proper money management.


Sonic
Thank you, I'll remember this.
  • #34,099
  • Apr 25, 2012 10:17pm Apr 25, 2012 10:17pm
Is Helicopter Ben out of gas, or is he just stalling...

In video #1 we have a good interpretation of the meeting today, check it out, you have got to see to believe, mad mad skilz there. I don't know if I'm just giddy from working too hard, but I laughed my ass off when I pictured this as the Fed meeting, and I'm still laughing!

Inserted Video



Of course on You tube one leads to another, and I found this dandy vid which could be yet another interpretation. Holy moly there Ben! If I am the guy on deck at 2:20 I need me some new pants!

Inserted Video
  • #34,100
  • Apr 26, 2012 12:51am Apr 26, 2012 12:51am
Quoting kotlt
My EJ short hit SL, never trade EJ pair anymore...
EJ swing back.. Up/down 80 pips for no reason is a norm.. This pair is not for everyone..

Just find a reasonable pair u like, and concentrate on it..

Sonic
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