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  • #34,621
  • May 9, 2012 10:53am May 9, 2012 10:53am
Quoting traderathome
EU:

Revised TP reached for 100 pips gain EP= 1.3020 to TP= 1.2920. This was a trade I added to after it blew thru my mental stops and came back down again. The add (higher) was at practically the same price, so essentially no difference.
You chickened out on 1.27 hehe

Update on Uncle Buck, the last big hurdle held it back, and has retreated back under the second one. Eur is having a lot of trouble getting back over the half number I see, this bodes well for shorts for now with all the wicks it leaves there, which are under the Monthly TL and that pivot low to the left which is now resistance. The hammer candle on H1 with the big stopping volume close to 1.29 does not.

p.s I'm still short but had I been at the computer (awake) when that stopping volume came in on the hammer I would have likely harvested as well and maybe re-entered right about here, moving my stop down for now. It's a fine line the exit, a fine line....
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  • #34,622
  • May 9, 2012 11:00am May 9, 2012 11:00am
Quoting jayjonbeach
You chickened out on 1.27 hehe

Update on Uncle Buck, the last big hurdle held it back, and has retreated back under the second one. Eur is having a lot of trouble getting back over the half number I see, this bodes well for shorts for now with all the wicks it leaves there, which is under the Monthly TL. The hammer candle on H1 with the big stopping volume close to 1.29 does not.

p.s I'm still short but had I been at the computer (awake) when that stopping volume came in on the hammer I would have likely harvested as well and maybe...
No, not chickened out. I closed EU and GU shorts, putting profits into account. Then I waited for pull backs and re-entered both short again.

As would be the case, the BBs then went on a liquidity creation drive on both, but "imho" that only adds to the certainty of more downside to come,....RWLs!

My current TPs are not RWLs, however, due to the possibility of another leg down today and another drive up again tomorrow. If I can collect more profits today and later re-enter higher, I will. If it turns out not be be the case, I will endure the liquidity creation thru today, and tomorrow I can lower the TPs.

-tah
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  • #34,623
  • May 9, 2012 11:03am May 9, 2012 11:03am
Quoting traderathome
No, not chickened out. I closed EU and GU shorts, putting profits into account. Then I waited for pull backs and re-entered both short again.

As would be the case, the BBs then went on a liquidity creation drive on both, but that only adds to the certainty of more downside to come,....RWLs!

-tah
I was just razzing ya my friend, see my p.s.

I regret staying up last night now or I would have likely exited on that H1 candle. The trend is still down, and the Eur has some big hurdles to get up back through at any rate. This is typical of Uncle Buck, stalling out in the NY session
  • #34,624
  • May 9, 2012 11:17am May 9, 2012 11:17am
Quoting jayjonbeach
Update on Uncle Buck, the last big hurdle held it back, and has retreated back under the second one.
Quoting jayjonbeach
This is typical of Uncle Buck, stalling out in the NY session
I attribute this, to no one in the US believing in their own buck

There are other reasons of course, but that one is the funny one
  • #34,625
  • May 9, 2012 11:21am May 9, 2012 11:21am
Quoting jayjonbeach
I was just razzing ya my friend, see my p.s.

I regret staying up last night now or I would have likely exited on that H1 candle. The trend is still down, and the Eur has some big hurdles to get up back through at any rate. This is typical of Uncle Buck, stalling out in the NY session
Try getting up around 3:30 am EST, monitor/trade the London BBs move if there is a setup. Maybe hit the sack again after an hour or so, and wake again for US open, or maybe shortly afterwards around 8:30 am EST, to see what the US BBs decide upon.

I am in the EST time zone, as I believe you are, and I was in the habit of staying up thru the night, too. Sleeping mid-day and on, which is exhausting and mostly fruitless time at the computer. I am re-training myself to do as I mentioned above.

-tah
  • #34,626
  • May 9, 2012 11:27am May 9, 2012 11:27am
Quoting jayjonbeach
I attribute this, to no one in the US believing in their own buck

There are other reasons of course, but that one is the funny one
Uncle Buck might not have anything to do with the EU spikes up this week. After all, he too is probably tired of having his own money turning worthless due to its artificial relationship to an even more worthless piece of shit!

I suspect the market is simply sensing some profits to be made with a new (albeit temporary, like everything in the forex market) down trend, in which they spike up the price to sucker in longs, while it goes short.
  • #34,627
  • May 9, 2012 11:33am May 9, 2012 11:33am
Quoting traderathome
Try getting up around 3:30 am EST, monitor/trade the London BBs move if there is a setup. Maybe hit the sack again after an hour or so, and wake again for US open, or maybe shortly afterwards around 8:30 am EST, to see what the US BBs decide upon.

I am in the EST time zone, as I believe you are, and I was in the habit of staying up thru the night, too. Sleeping mid-day and on, which is exhausting and mostly fruitless time at the computer. I am re-training myself to do as I mentioned above.

-tah
TY Tah for this advice. I was considering something like this and will keep it even more in mind now with your input.
  • #34,628
  • May 9, 2012 1:05pm May 9, 2012 1:05pm
Quoting traderathome
Uncle Buck might not have anything to do with the EU spikes up this week. After all, he too is probably tired of having his own money turning worthless due to its artificial relationship to an even more worthless piece of shit!

I suspect the market is simply sensing some profits to be made with a new (albeit temporary, like everything in the forex market) down trend, in which they spike up the price to sucker in longs, while it goes short.
eu is testing 1.2969 ,mainly I think will still be a bullish,but will there be the chance it move up to s2?
  • #34,629
  • May 9, 2012 4:20pm May 9, 2012 4:20pm
Quoting jayjonbeach

I'm short already from the 5 minute chart and building a position (heh, its on a H&S break as well as Sonic setup).

This is a very early entry, and not recommended usually since this is not London or New York session, it does look to be spilling over to the 15 nicely now though. As I said and I'm building a position for the Daily chart and will hold most of it until I think it's done and have signals that say so.

P.s TAH isn't the only one that likes short shorts... 3x as fast as up baby!
Manually closed, EP - 1.3052, TP 1.2931 - 121 pips

Quoting jayjonbeach
Looks like price is getting rejected at the 61.8% retrace and new Resistance level. I've added here as well
Manually closed, EP - 1.3026, TP 1.2930 - 96 pips

---

Am I chickening out here? Yes

I just don't like many things I am seeing on longer term charts. This was also my first ever Forex trade, and I wanted to make sure it ended on a good note!

I still really like Eur short, but worry we could be in for a significant bounce first, this might be completely unfounded however. We need to clear the Monthly TL (we're close) and Uncle Buck needs some mojo soon as well to clear his upper TL. When/if these things happen I will look to re-enter
  • #34,630
  • May 9, 2012 6:23pm May 9, 2012 6:23pm
Quoting traderathome
Try getting up around 3:30 am EST, monitor/trade the London BBs move if there is a setup. Maybe hit the sack again after an hour or so, and wake again for US open, or maybe shortly afterwards around 8:30 am EST, to see what the US BBs decide upon.

I am in the EST time zone, as I believe you are, and I was in the habit of staying up thru the night, too. Sleeping mid-day and on, which is exhausting and mostly fruitless time at the computer. I am re-training myself to do as I mentioned above.

-tah
It can be done: http://en.wikipedia.org/wiki/Polyphasic_sleep
  • #34,631
  • Edited 7:59pm May 9, 2012 7:21pm | Edited 7:59pm
EU, GU and Market Comment:

Starting the new day off, the early asian session did a bit of a sell-off on EU and then promptly moved the price back up, still showing bear bias. For GU, the market did a bit of a pump and then promptly a sell-off, also still showing bear bias.

So, nothing has changed. The BBs, still being bearish, are still using the strategies they have to build shorts (sell) without unduly moving the price against them (down) when they do. The demand is for shorts, but contrary to the "Law of Supply and Demand", they frequently end up with the price higher after their selling!

Well, after all, who in hell is so naive that they actually believe the "Law of Supply and Demand" is a market influence on pricing! That's just a "free market fairy tale" to help keep people from realizing that market prices are based on price manipulation by the Big Money players, more than on anything else!

As a side note, gold dropped in yesterday trading, but all the "gold derivative instruments" went higher! And on high volume! The talking heads made it a point to emphasize the high volume on these instruments that all went higher in price. Did they explain more? NO! So, the uninitiated would believe demand is up since all those "instruments" went up on high volume as their price rose. I wonder why there was no mention of the possibility that Big Money players were hiking the prices while dumping as fast as they could? Pump & Dump! Well, so much for truth about how prices in the markets are really determined.

I can hear one of the Big Money players now, saying...."Hey, I'll price it like the Demand is really, really huge. Then I'll Supply all the suckers can handle!"


-tah
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  • #34,632
  • May 9, 2012 7:22pm May 9, 2012 7:22pm
EU is indeed on the edge..

But trade with care as always..

Somehow vol scenario is very much similar to those in 16-20 Jan 12..

Sonic
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  • #34,633
  • May 9, 2012 7:23pm May 9, 2012 7:23pm
Quoting stjong
TAH, 3 more Post and it will Hit 10,000 post
Indeed happy 10K TAH

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  • #34,634
  • Edited 7:50pm May 9, 2012 7:38pm | Edited 7:50pm
Quoting sonicdeejay
EU is indeed on the edge..

But trade with care as always..

Somehow vol scenario is very much similar to those in 16-20 Jan 12..

Sonic
Master, I don't see the correlation you are showing. During that time in January this year the price bottomed and reversed. There is a high activity volume bar for that bottom, as well as some high activity volume bars that initiated that final leg down. As price is dropping now the volume is less overall than it was back then. And so far, no significant activity volume bars have appeared. This is based on charts from both Alpari (US) and FXDD.

-tah
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  • #34,635
  • May 9, 2012 7:44pm May 9, 2012 7:44pm
To me it still looks as if she's heading lower. Their is no signs of ending action. The money flow also points in that direction look at the bonds 5 yrs 10 yrs and 30 year yields! The money flow don't lie.
(He who knows everything knows nothing!)
  • #34,636
  • May 9, 2012 9:57pm May 9, 2012 9:57pm
Quoting traderathome
As price is dropping now the volume is less overall than it was back then. And so far, no significant activity volume bars have appeared. This is based on charts from both Alpari (US) and FXDD.

-tah
Yeah, your volume charts look way different than his, on his you can see what he is referring to for sure, its like the same 3 bars showed up, in the same pattern and all.


Quoting stormstopper
To me it still looks as if she's heading lower. Their is no signs of ending action. The money flow also points in that direction look at the bonds 5 yrs 10 yrs and 30 year yields! The money flow don't lie.
Quoting jayjonbeach
I just don't like many things I am seeing on longer term charts. This was also my first ever Forex trade, and I wanted to make sure it ended on a good note!

I still really like Eur short, but worry we could be in for a significant bounce first, this might be completely unfounded however. We need to clear the Monthly TL (we're close) and Uncle Buck needs some mojo soon as well to clear his upper TL. When/if these things happen I will look to re-enter
Here are some charts of a couple of the concerns I mentioned, less the Euro currently fighting with its 11 year old upward TL.

It does 'look' like we are going to keep going, as I said I chickened out and wanted to bank my pips at this juncture.
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  • #34,637
  • May 10, 2012 12:06am May 10, 2012 12:06am
Master Sonic & TAH...it will be of great help to newbies like me if the page 1 of the thread clarifies the use of VSA Histogram and how CCI & QQE may no longer be required... I have read the user notes and most posts related to the histogram but still not completely confident...request your help
MM
  • #34,638
  • May 10, 2012 12:12am May 10, 2012 12:12am
Quoting jayjonbeach
Here are some charts of a couple of the concerns I mentioned, less the Euro currently fighting with its 11 year old upward TL.
What is all the "to do" about an 11 year old upward TL? No matter how you draw a TL for EU, it has room to drop.
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  • #34,639
  • Edited 12:38am May 10, 2012 12:27am | Edited 12:38am
Quoting Mymoney
Master Sonic & TAH...it will be of great help to newbies like me if the page 1 of the thread clarifies the use of VSA Histogram and how CCI & QQE may no longer be required... I have read the user notes and most posts related to the histogram but still not completely confident...request your help
It is not a perfect world. Yes, some issues could be resolved with a more comprehensive Sonic R. System Summary and a new pdf. format manual. If I had pdf. software, I might tackle that. Maybe in the future.

Meanwhile, since Master Sonicdeejay has given precedence to the TAH indicators and templates by way of early linking in Post #1, and since CCI and QQE are not included, and since anyone can see that Master Sonicdeejay's current posts do not use them, one would assume any reader would draw the correct conclusion. Which is to say, the CCI and QQE are not used. Period.

As regards VSA, posts mentioning volume are numerous. And any one of them might help further a traders general idea of how to use volume. And all of the text regarding volume is far too much to paraphrase here. It is best to keep getting caught up on reading the thread, certainly from the time a trader starts here. Read Master Sonicdeejay's posts, if nothing else, and you will grasp how he uses volume. There is probably not a week that goes by that volume is not discussed one way or the other, so there is no substitute for the diligent reading of this thread, which is the real manual for the Sonic R. System.

-tah
  • #34,640
  • May 10, 2012 1:14am May 10, 2012 1:14am
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