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Sonic R. System

  • #34,441
  • May 6, 2012 9:25pm May 6, 2012 9:25pm
Quoting traderathome
EU:

If the market give this a full retrace to fill the gap, we'll just smile and say, "The doc sewed it back on."
To make money is Bear mkt, on has to wait for retracemnt to enter short position..

Vice versa for Bull mkt..

Patience is the key..

Sonic
  • #34,442
  • Edited 9:53pm May 6, 2012 9:26pm | Edited 9:53pm
Quoting sonicdeejay
To make money is Bear mkt, one has to wait for retracemnt to enter short position...Vice versa for Bull mkt...Patience is the key...Sonic
I fully agree: http://www.forexfactory.com/showthre...61#post5642361
  • #34,443
  • May 6, 2012 9:55pm May 6, 2012 9:55pm
Quoting traderathome
EU:

If the market give this a full retrace to fill the gap, we'll just smile and say, "The doc sewed it back on."
Heh.

Quoting sonicdeejay
To make money is Bear mkt, on has to wait for retracemnt to enter short position..
I don't have too much experience with Forex yet, but from my browsing around over the last 3 months or so I can see that most think backtesting a Neckline like this and filling the gap is almost a given.

I can tell you with Stocks and Commodities that if you wait for the backtest ~ 40 - 50% of the time you would miss the whole move with a H&S Breakout.

In any case, you will often get burnt if you get caught entering late and chasing prices for sure. Shorting a bounce as you say in the bear is much safer if you missed the early entry.

---

I see Greece is now voting to reject the bailout again. I don't understand why this kind of voting is not finalized on their part, but admittedly I am not following too close. I am also unsure the larger effects a new Socialist President will have on France and Europe, but one thing is clear, Europe is in heaps of shit and will be buried in it for quite some time to come likely.
  • #34,444
  • Edited 10:58pm May 6, 2012 10:26pm | Edited 10:58pm
Quoting jayjonbeach
Heh....In any case, you will often get burnt if you get caught entering late and chasing prices for sure. Shorting a bounce as you say in the bear is much safer if you missed the early...
"I see Greece is now voting to reject the bailout again. I don't understand why this kind of voting is not finalized on their part, but admittedly I am not following too close. I am also unsure the larger effects a new Socialist President will have on France and Europe, but one thing is clear, Europe is in heaps of shit and will be buried in it for quite some time to come likely." - jayjonbeach

And many moons ago, Bernanke committed to keeping the dollar "easy" against the euro! And for many moons longer, the euro has been teetering on the brink of falling off into hell! So, everything is irrelevant. Were the actual values of the dollar vs the euro to even be followed, who knows how much lower EU would be,.....several thousand pips lower? The "news" is for shit. Sure, from time to time PA might be in accord, and from time to time, no. And, sure, from time to time the market will seem to align with common sense, and from time to time, no. In the end, I suspect the central banks will keep things the way they want them to be, never going too far in favor of the dollar, no matter what the news. The CBs loan gold, not just currencies, at interest rates that help "control" all this.

Bottom line is, we trade the charts. Probably would be best if we never even read the "news", and just concentrated sensibly on the charts. There might be conflict between "news" and what the CBs/FED "want", but we only make money aligning ourselves with what the market is doing with the price in order to be profitable, which might have nothing to do with either "news" or the desires of the CBs/FED.

For example, EU has been traded most heavily at the lows so far in the asian session this new week. It is like those traders expect a decent upwards pull back. Maybe enough to close the gap, maybe not, but enough of an upwards pull back to make money on the long side when it happens, .....despite news, etc. We'll see.
  • #34,445
  • May 6, 2012 10:57pm May 6, 2012 10:57pm
Quoting traderathome
Bottom line is, we trade the charts. Probably would be best if we never even read the "news", and just concentrated sensibly on the charts.


This is usually a lesson learnt the hard way for most, which can also be combined with expecting logical market movements as you say. 2009 was a good example, if you absorbed all the bearish news of the completely failing USA economy, you got ran over by an out of control freight train (and I did foolishly allow myself to get run over, once)

100's of Banks were failing, AIG, GM, etc, etc it was one nasty scene. Yet how could the market rally like not only nothing was wrong, but like things were good?! Well chart #1 goes a little ways to explain that... She's a rigged game, and Ben is trying his best to keep the bubble inflated but there is a big problem, its still AIR in that bubble! Heh, just look closely at that chart, everytime they stop buying the effect is almost immediate, same with when they start, and once the USD gets too high and the markets dump its almost certain he'll ramp it all up again or do his best to try.

Will Europe be the pin prick? No one knows for sure. As you say only one thing is certain, Price truly does account for everything. I still listen to the little bird sitting on the window ledge at times though...
Attached Image
  • #34,446
  • Edited May 7, 2012 12:05am May 6, 2012 11:48pm | Edited May 7, 2012 12:05am
Quoting jayjonbeach


This is usually a lesson learnt the hard way for most, which can also be combined with expecting logical market movements as you say. 2009 was a good example, if you absorbed all the bearish news of the completely failing USA economy, you got ran over by an out of control freight train (and I did foolishly allow myself to get run over, once)

100's of Banks were failing, AIG, GM, etc, etc it was one nasty scene. Yet how could the market rally like not only nothing was wrong, but like things were good?! Well chart #1 goes a...
Some years back, when oil was around $40 per barrel, "news" would say one month that the market was down because oil was up, like higher priced oil was bad overall for the market. Then, a few months later, the price of oil would slump and so would the market. And "news" said that it was the slack demand/price of oil that had the market in a slump. It is all bull shit! Prices go where the power players take them for purposes of profit, and all the rest is just bull shit! Sometimes the "news" is just to provide some palatable "explanation", so that uninitiated stay ignorant of the fact that the markets are rigged and that people will go on believing that prices are based on "supply and demand", and that there are only "normal causes" that effect supply/demand. It is all bull shit. What is real is the chart. But it must be played sensibly, because it can change on a dime due to the reality of market manipulations.
  • #34,447
  • May 7, 2012 12:30am May 7, 2012 12:30am
Quoting traderathome
Some years back, when oil was around $40 per barrel, "news" would say one month that the market was down because oil was up, like higher priced oil was bad overall for the market. Then, a few months later, the price of oil would slump and so would the market. And "news" said that it was the slack demand/price of oil that had the market in a slump. It is all bull shit! Prices go where the power players take them for purposes of profit, and all the rest is just bull shit! Sometimes the "news" is just to provide some palatable "explanation",...
Yeah, its truly hilarious at times when you turn on your computer, go to yahoo to check your mail, and see ridiculous headlines that try to explain a 0.25% drop in the market etc, everyday! Hah! That is their job, they have to try and make shit up even when nothing really happens!

I remember $40 Oil well, it came down from $130. It really pissed me off because the price of gas did NOT come down accordingly, but that is another big ball of wax....
  • #34,448
  • May 7, 2012 2:25am May 7, 2012 2:25am
I am confident about the future of Sonic R, as long as we have aslute traders with me around..

Sonic
  • #34,449
  • May 7, 2012 2:30am May 7, 2012 2:30am
Quoting Conorado
GU Short
EP = 1.6134
SL = 1.6160
TP = 1.6090

Attachment
6 hour later.. Told cha.
Ur SL is reasonable.. Hopely not hit..
Patience is the key..

Sonic
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  • #34,450
  • May 7, 2012 2:40am May 7, 2012 2:40am
Just entered the trade. EP, SL, TP1 & TP2 levels are on the chart
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  • #34,451
  • May 7, 2012 2:48am May 7, 2012 2:48am
My entry EU Long
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  • #34,452
  • May 7, 2012 3:07am May 7, 2012 3:07am
Quoting Conorado
GU Short
EP = 1.6134
SL = 1.6160
TP = 1.6090

Attachment
SL is mental now
Wish i closed for 14pips 6 hours before. i was too greedy arghhh
  • #34,453
  • Edited 4:07am May 7, 2012 3:37am | Edited 4:07am
EU (and GU):

Sonicers, it is only Monday. Market might take the day off to set things up. Personally, I'd not be surprised to see an upwards pullback on these. But even a pullback might undergo some preparations. Look at the example senario depicted for EU. And something like that for GU is also possible.

This is a senario where there are preparations for a good upwards pullback, something possible, even likely, if the US BBs wish to join in on an upwards pullback at the low price area the asian traders enjoyed.

On the other hand, after some ranging that inches the price up, the next good move might be down.

Bottom line is don't be impatient to enter a trade on Mondays, expecially after a 200+ pips swing. In this case, we might get ranging most of the day. And at the end of ranging, the prospect for direction might look a lot different than at the beginning.
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  • #34,454
  • May 7, 2012 4:07am May 7, 2012 4:07am
Quoting traderathome
Some years back, when oil was around $40 per barrel, "news" would say one month that the market was down because oil was up, like higher priced oil was bad overall for the market. Then, a few months later, the price of oil would slump and so would the market. And "news" said that it was the slack demand/price of oil that had the market in a slump. It is all bull shit! Prices go where the power players take them for purposes of profit, and all the rest is just bull shit! Sometimes the "news" is just to provide some palatable "explanation",...
The news is just someone's opinion/perception of events.

PA is reality!

  • #34,455
  • May 7, 2012 4:09am May 7, 2012 4:09am
Quoting jayjonbeach


This is usually a lesson learnt the hard way for most, which can also be combined with expecting logical market movements as you say. 2009 was a good example, if you absorbed all the bearish news of the completely failing USA economy, you got ran over by an out of control freight train (and I did foolishly allow myself to get run over, once)

100's of Banks were failing, AIG, GM, etc, etc it was one nasty scene. Yet how could the market rally like not only nothing was wrong, but like things were good?! Well chart #1...
Gotta say I enjoy all of your posts. You are a welcome addition to this thread. You and TAH, and of course Sonic R provide us with a wealth of insight!

My sincere thanks to you all.

  • #34,456
  • Edited 8:09am May 7, 2012 5:53am | Edited 8:09am
Quoting phi1ipp
Just entered the trade. EP, SL, TP1 & TP2 levels are on the chart
Quoting karys
My entry EU Long
guys.. master said it is counter trend.. carefull.. as long as got profit, good luck ..
  • #34,457
  • May 7, 2012 6:20am May 7, 2012 6:20am
Careful with going Long..

No Long for me... (it is CT and the price is no longer cheap)


Inserted Video


Sonic
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  • #34,458
  • May 7, 2012 7:41am May 7, 2012 7:41am
GU:

Entered short (EP= 1.6154).
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  • #34,459
  • May 7, 2012 7:52am May 7, 2012 7:52am
Quoting traderathome
jasakreatif!

Please don't post extra wide charts! It screws up the entire FF thread page for all those that don't have wide monitors! Please delete your wide charts and downsize them.

Thanks,
-tah
no i didnt , i only quote the charts post , now you re quote it.
  • #34,460
  • Edited 8:22am May 7, 2012 8:01am | Edited 8:22am
Quoting jasakreatif
no i didnt , i only quote the charts post , now you re quote it.
jasakreatif,

I deleted my post, but your black chart is screwing up the thread because of its width. Please edit your post to downsize that chart. Charts should be posted using MT4 middle size "Save As Picture", which is the default of 800x600 pixels (see example I just posted of same chart). Thank you.

The reason different pivots appear on the two charts is that one chart is displaying broker server pivots and the other (with asterisks) is displaying time zone shifted pivots. This is explained in the user notes.

-tah

P.S. Thank you for deleting that chart. I too, will delete this post in a short time.
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