GU: Entered short.
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- #36,261
- Jun 22, 2012 7:41am Jun 22, 2012 7:41am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #36,268
- Edited 10:41am Jun 22, 2012 10:15am | Edited 10:41am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
The Sonic R. System
Don't complicate it. By way of example, consider a short situation.
The PA wave leg1 starts above Dragon and drops down thru it. Wave leg2 rises to make a high that is lower than the start of leg1. Should leg2 pass back up thru the Dragon? Is further better? A contribution by Domas4 states that often the less the leg2 pullback move is, the further the eventual run tends to be. So, leg2 might pull back to the Dragon, or into the Dragon, or completely back up thru the Dragon. But further is not necessarily better. Then Wave leg3 returns PA back in the direction of leg1. The rule states to make entry at least a few pips beyond the end of the leg3 candle first exiting the Dragon. So, with that statement obviously if leg2 never moved back into the Dragon, then leg3 cannot have a candle "first exiting" the Dragon. So, now we are down to looking for leg1 down thru the Dragan, leg2 at least back into the Dragon (and maybe further is not better), and then leg3 coming back down out of the Dragon.
At entry (at least a few pips beyond the end of the first candle in leg3 that exits the Dragon) it is best if PA is not only below the Dragon (has to be for a proper entry, you see) but also the Dragon should have notable angle down, the steeper the better. And the London session should have already started. Furthermore, for a pickier selection of setups to trade, it is better still if PA is below the Trend. This implies that the Dragon itself is at, or below the 89 ema Trend line (personally, a good reminder to me from Jayjonbeach)!
It is not complicated. It does not need skads of indicators. It just needs adherence to the very few, simple, and import rules & recommendations. Most failed trades come from not accepting how important these are, ignoring them somewhat, and looking for other signs from other indicators instead!
Understand that no matter how picky you are, and no matter how strictly you adhere to the rules and recommendation, market moves stem from the instructions handed down to traders by Big Money that is looking to make profits. So at any time PA can take a turn against your trade (and against fundamentals, and technicals and even logic). So you need good money management as well as a good setup. Not more indicators!
Also understand that a setup needs "PA room" to allow for the wave to set up and to allow for a decent run. Therefore, when PA is ranging, especially if it is ranging tightly, you must consider if there is enough "PA room". At such times, it might be better to look for longs when PA is near the bottom of the range, and look for shorts when PA is near the top of the range. And then drop down to M5 and see if a setup occurs, and trade only for gains available without PA having to break out of the range.
Hope this helps folks stay on track,
-tah
Don't complicate it. By way of example, consider a short situation.
The PA wave leg1 starts above Dragon and drops down thru it. Wave leg2 rises to make a high that is lower than the start of leg1. Should leg2 pass back up thru the Dragon? Is further better? A contribution by Domas4 states that often the less the leg2 pullback move is, the further the eventual run tends to be. So, leg2 might pull back to the Dragon, or into the Dragon, or completely back up thru the Dragon. But further is not necessarily better. Then Wave leg3 returns PA back in the direction of leg1. The rule states to make entry at least a few pips beyond the end of the leg3 candle first exiting the Dragon. So, with that statement obviously if leg2 never moved back into the Dragon, then leg3 cannot have a candle "first exiting" the Dragon. So, now we are down to looking for leg1 down thru the Dragan, leg2 at least back into the Dragon (and maybe further is not better), and then leg3 coming back down out of the Dragon.
At entry (at least a few pips beyond the end of the first candle in leg3 that exits the Dragon) it is best if PA is not only below the Dragon (has to be for a proper entry, you see) but also the Dragon should have notable angle down, the steeper the better. And the London session should have already started. Furthermore, for a pickier selection of setups to trade, it is better still if PA is below the Trend. This implies that the Dragon itself is at, or below the 89 ema Trend line (personally, a good reminder to me from Jayjonbeach)!
It is not complicated. It does not need skads of indicators. It just needs adherence to the very few, simple, and import rules & recommendations. Most failed trades come from not accepting how important these are, ignoring them somewhat, and looking for other signs from other indicators instead!
Understand that no matter how picky you are, and no matter how strictly you adhere to the rules and recommendation, market moves stem from the instructions handed down to traders by Big Money that is looking to make profits. So at any time PA can take a turn against your trade (and against fundamentals, and technicals and even logic). So you need good money management as well as a good setup. Not more indicators!
Also understand that a setup needs "PA room" to allow for the wave to set up and to allow for a decent run. Therefore, when PA is ranging, especially if it is ranging tightly, you must consider if there is enough "PA room". At such times, it might be better to look for longs when PA is near the bottom of the range, and look for shorts when PA is near the top of the range. And then drop down to M5 and see if a setup occurs, and trade only for gains available without PA having to break out of the range.
Hope this helps folks stay on track,
-tah
Thank you very much for all ure help and time you took to answear. it means world to me. I will keep on reading and following the forum, you guys are amaizing. When i get my first AUDI R8 i will persanlly take u all on a ride
There is no spoon....
- #36,271
- Jun 22, 2012 10:57am Jun 22, 2012 10:57am
Thank you very much for all ure help and time you took to answear. it means world to me. I will keep on reading and following the forum, you guys are amaizing. When i get my first AUDI R8 i will persanlly take u all on a ride
- #36,272
- Edited 11:42am Jun 22, 2012 11:28am | Edited 11:42am
The Sonic R. System
Don't complicate it. By way of example, consider a short situation.
The PA wave leg1 starts above Dragon and drops down thru it. Wave leg2 rises to make a high that is lower than the start of leg1. Should leg2 pass back up thru the Dragon? Is further better? A contribution by Domas4 states that often the less the leg2 pullback move is, the further the eventual run tends to be. So, leg2 might pull back to the Dragon, or into the Dragon, or completely back up thru the Dragon. But further is not necessarily...
Nice post Tah,
What I have discovered over time is that when price moves in a direction and makes itīs first pullback - this is an area that needīs to be watched carefully.
By that I mean that price if it wants to continue in itīs original move up or down - this first pullback candle, and normally the low of it is the exact spot price pulls back to before continuation.
I hope that in conjunction with your post that this might help Sonicers at least know where there might be some problems / or an area for a Tp. (take profit) or wait for price to clear that area before entering.
I have attached a chart from Ej today 22/6-2012 showing this example - and also some charts from fridays Fomc crap showing this. You can look at the timestamps in the picture. With the Eu charts look at the red arrows - and donīt mind anything else on the charts.
Hope this helps someone not getting caught at possible trouble areas - and have a nice weekend.
Regards.
H.
p.s try going over your charts and you will find how often this works.
"The future is already written in the past"
- #36,274
- Jun 22, 2012 12:24pm Jun 22, 2012 12:24pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #36,276
- Jun 22, 2012 12:44pm Jun 22, 2012 12:44pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
You are the driver of the vehicle. We are following you. I am requesting there is some proper entry rule that should always follow.
If anything, I am no more than a serf of the Master Sonicdeejay, a serf that is at times totally ignored by those the Master is trying to help. But, I unbegrudgingly trudge on with those duties that it is necessary for someone to do, with the hope that many will follow Master Sonicdeejay's lead, and benefit by doing so.
Sonicers, have a good weekend,
-tah
- #36,277
- Jun 22, 2012 12:48pm Jun 22, 2012 12:48pm
Nice post Tah,
By that I mean that price if it wants to continue in itīs original move up or down - this first pullback candle, and normally the low of it is the exact spot price pulls back to before continuation.
I have attached a chart from Ej today 22/6-2012 showing this example - and also some charts from fridays Fomc crap showing this. You can look at the timestamps in the picture. With the Eu charts look at the red arrows - and donīt mind anything else on the charts.....
- #36,278
- Jun 22, 2012 12:58pm Jun 22, 2012 12:58pm
I think you have that incorrect, GuruKrish. I am not the driver, not even the Moderator. I'm not even paid for all the hours I slave here exhorting others to post neat, comprehensible charts and to do whatever else they can to make this thread an improving manual for the Sonic R. System, so that old and new Sonicers alike can more enjoyably learn and more easily digest information presented.
Ok i am going to sleep (1:30 AM, India) . Good Morning :-)
- #36,280
- Jun 22, 2012 2:47pm Jun 22, 2012 2:47pm
I think you wrongly post it in Sonic R System. The SS you post here is not matching with Sonic R. Where is the the SSD and SLD? You are trying to show old wine in a new bottle. Already World knows about S&R.
Regards,
H.
"The future is already written in the past"