Sonic R. System

Isn't it inverted H&S, in m15?

Sonic

Hi guys, what hppen in the next hour? Long or Short, still new with this system. Please suggest

Long EP: 2740..keeping a close watch..news in 15 min

Its close, but mho is no, I can't make a proper left shoulder and neckline.

Edit, yes, there is a tiny one on the right side if that is the one you are refering to, angled down and its valid, good eye The bigger pattern is not valid, you can see this all clearly in M5. Target met on small one.

This is a correction I believe, as there was a Triangle in this move up. A up, B is Triangle, this is wave C to complete correction. We will now start a wave down if I am correct to new lows. USD = 82. Let's see if news agrees, could be the stick in the mud for me, has to get through 2736 first.

This could retrace all the way to 2795, 61.8%, or anywhere in between there and 38.2%. And of course, all this could be completely wrong

All highly speculative of course

Thanks Mymoney, 2 weeks learn this system but still not sure how to trade, what I missed?

They are selling at the top of this move, but can still go further (speculative on VSA)

R we seeing big candle with big
EU m15 TF, pls post ur chart..

Sonic

Exit my eurusd long trade with 36 pips from this morning.

The Candle here looks like selling into the buying by the BBs

Something going on here !

There is a shooting star up there, not confirmed however (was not closed under)

It may be due for retracment..

May be Bull..


Sonic

Agreed. Everything is very over-extended.

No one should act on my analysis, trade the SonicR. Mine is very speculative and can be completely wrong

Here you go, Sonic

http://content.screencast.com/users/...05-16_2118.png

As it stands right now, the USD is putting in a very nasty looking shooting star on the Daily chart under a very old resistance (not shown its much farther to the left)

It will need confirmation, and of course the day is still young. (even confirmed can fail, but its worth noted imho)

EU:

Earlier today the really active PA was aimed down, so presumably liquidity creation to build long positions for a later drive upwards. But now, early in an upwards move, there is also a heavy volume bar (most recent blue) on a candle striking a new high. To me, it looks like heavy trading only due to the fact that PA made it thru a local SR level (short red line) and might have suddenly attracted a lot of additional longs.

Currently, PA is falling away from the half number and again below that local SR. And this might be nothing more than a pullback in the pullback, a chance for the market to ease off on the climb while adding more longs. But this is speculative, and partly based on the thought that if the market drove the price low earlier to gather up a long position so as to be able to profit at the top of a pullback in the down trend, then PA has not yet progressed upwards in this pullback sufficiently high to make all those preparations meaningful. In other words, the market would be looking to make more profit with a further climb than this has been so far. Just an opinion.

The Eur is breaking through the first Trendline from the bottom, 2 hopes left if it does not recapture it and breaks through the 2nd one. For me, this is likely the spot it will bounce and go to the 61.8 to suck in more longs, if it is going to, its also bouncing on the 50% retrace from top and a bit of support

@traderathome

TAH, I am in the EST timezone like you, but am struggling with how to manage the hours. Are you still adhering (mostly) to the 1-4 AM, and 7-11 AM windows? I just don't think it's realistic for me to trade 1-4 am, but I can do 7-11 for entries, and monitor all day for exits.

I'm curious as to how you manage your trading time.

Your plan is good. I sometimes still am up in the asian session and it continues to be too tiring. My latest idea is to first pop in when the London session is an hour old, monitor for as short a time as possible for any setups active then, and break away for more rest until 8am EST.

Thank you TAH. That certainly helps. I'm finding time management to be increasingly important for me. Too little hours and I'm rushed. Too many and I can't focus. And I'm not moving to London anytime soon.

I'll maintain focus on the mornings then.

What you think friends?