number five 
try again nextweek , come join in, great experience , train me fast decision for live acc
try again nextweek , come join in, great experience , train me fast decision for live accInserted Video
- #36,282
- Jun 23, 2012 7:34am Jun 23, 2012 7:34am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
You need to read once again what I posted. And what I replied to. And no I donīt sell any old wineRegards,H.
" I knew it! A wine Maker! (Hey, I'm still trying to figure out the SSD and SLD parts. Maybe I need a glass of wine myself!)
- #36,283
- Jun 23, 2012 7:40am Jun 23, 2012 7:40am
Ha! "And no I donīt sell any old wine
- #36,284
- Edited 9:11am Jun 23, 2012 8:36am | Edited 9:11am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
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 - if (price) 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.
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.)...
Hansma, very fine post. I mean it. This could be added to those tests to perform in the exercise of "being picky" about SonicR setups. To be sure I understand clearly, I've looked at another pair to find an example (shown below).
In the first chart below there is a box marking where PA turned up from a low. After three candles up, there is a rather obvious candle spike back down before PA continues upwards. So, this grouping of candles seems to comply with what we need to look for.....PA first turning in new direction and then, at some time following, making its first pullback. A horizontal line is drawn from the bottom of the pullback candle, and sure enough, sometime later PA pulled back again to this level (actually a bit below it). From there, PA created a double PA wave, both of which provided a good SonicR long entry. Hansma, do I have all this correct?
The second chart includes the FE study. Under the circumstances of such a "confirming pullback", i.e. a later pullback to the same level as the initial pullback, I presume here is where you would complete the FE draw placement, and then pick an early entry, when?....
....when PA first moves up above the FE 24% line, or
....when PA later comes back down to backtest the FE 24% line?
Hansma, I would appreciate your confirmation and clarification on the 1st and 2nd charts, and particularly on any missing points regarding the 2nd chart.
Sonicers, though Hansma has been doing this for quite some time successfully, and this might lead to a very well documented and described addition to the Sonic R. System, please at this time, do not interpret any of this as suggesting you should make "early entries" differing from that prescribed by the Sonic R. System. Entering a trade when PA is on the reverse side of the Dragon is extremely dangerous! Everything needs to be just right, and we might not have everything covered and defined here, yet. However, looking for the situation described by Hansma (depicted in the first chart) is something we can all immediately begin doing in order to better qualify SonicR setups!
Many Thanks to Hansma,
-tah
- #36,287
- Jun 23, 2012 10:35am Jun 23, 2012 10:35am
Hansma Excellence!
...is something we can all immediately begin doing in order to better qualify SonicR setups!
Many Thanks to Hansma,
- #36,290
- Jun 23, 2012 11:31am Jun 23, 2012 11:31am
- | Joined Oct 2010 | Status: Trader | 1,539 Posts
P.S He started investment firm @ 29ys.. I am still a salary man @32.. that is bad..
- #36,291
- Jun 23, 2012 12:19pm Jun 23, 2012 12:19pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Hi Tah,
Yes you are correct with both your charts. For me it is a simple way to confirm that the pullback to the same area again might be.
1. The end of leg 2 in a larger wave.
2. Also being the (B) spot in an ABC wave with TP at the 127 fib level.
I would advise Sonikers to do their entries as usual, the whole point of this pullback is to give you some confirmation in what direction you should look. Also when in a trade already use this area as a possible tp area.
Hansma, I'm not sure I understand what you mean by this statement. Are you referring to the pullback area, or the FE 127% level area? For example, if you are in a long trade, which are you suggesting?....
1. If you see such a pullback situation occurring in PA suggesting PA might be setting up to go short, this might be a time to exit your long trade.
Or,......
2. The FE 127% level might be considered for exiting your trade.
-tah
- #36,292
- Jun 23, 2012 12:25pm Jun 23, 2012 12:25pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Hi TAH, My little document to the thread. Enjoy and relax.
- #36,294
- Edited 1:14pm Jun 23, 2012 12:38pm | Edited 1:14pm
"Also when in a trade already use this area as a possible tp area." -
Hansma, I'm not sure I understand what you mean by this statement. Are you referring to the pullback area, or the FE 127% level area? For example, if you are in a long trade, which are you suggesting?....
1. If you see such a pullback situation occurring in PA suggesting PA might be setting up to go short, this might be a time to exit your long trade.
Or,......
2. The FE 127% level might be considered for exiting your trade.
"Also when in a trade already use this area as a possible tp area." -
Hansma, I'm not sure I understand what you mean by this statement. Are you referring to the pullback area, or the FE 127% level area? For example, if you are in a long trade, which are you suggesting?.... I mean the pullback area, and if a short was taken higher above following the Sonic Rules - then the pullback area will become a possible tp area. On the other hand if I will enter a long trade in this case where I expect the first pullback candle to hold for a long - I will take 50% profit at "at close half" = 79% level and the rest at tp2 = 127% level
1. If you see such a pullback situation occurring in PA suggesting PA might be setting up to go short, this might be a time to exit your long trade.
Or,......
2. The FE 127% level might be considered for exiting your trade. I alway exit at 127% level - no questions asked. Just how I do it - always fixed Sl and Tp.
Regards,
H.
Iīll post a chart in a few mins. --
"The future is already written in the past"
- #36,295
- Jun 23, 2012 12:55pm Jun 23, 2012 12:55pm
- | Joined Oct 2010 | Status: Trader | 1,539 Posts
number five
http://www.youtube.com/watch?v=FG9nH...eature=related
Need live account to participate in the contest?
- #36,296
- Jun 23, 2012 12:56pm Jun 23, 2012 12:56pm
- | Joined Oct 2010 | Status: Trader | 1,539 Posts
Hi TAH,
My little document to the thread. Enjoy and relax.
- #36,297
- Jun 23, 2012 9:58pm Jun 23, 2012 9:58pm
- Joined Feb 2011 | Status: Trader | 1,825 Posts
Need live account to participate in the contest?
- #36,300
- Jun 24, 2012 1:05am Jun 24, 2012 1:05am
- Joined Nov 2008 | Status: Trader | 50,214 Posts
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)...
Very interesting sharing and discussion by hansma and tah.
Thought I pitch in using the NZDJPY week 25 post mortem review.
For intraday trading, I trade using the H4 candle patterns like Inside Bar, Double IBs, Outside Bar, POP Gun, DBHH-Hl, DBLH-LL, etc.
I have been studying this sonicR method the for a few months and find some very good setup confirmation using TAH Dragon with the EMA34/89 combination. This is an improvement over the EMA50/100 which I have been using with daily pivots. But my main challenge is to spot the small ABC waves in M15 TF.
To help me see easier, I use the H4 high-low on M15 chart so seeing the H4 candle formation is much easier for me. Seeing the M15 PA within each H4 candle time is quite useful to time entries. Beside identifying the ABC waves, we can see the small CZ using these M15 candles.
The basic PA trading in identifying support and resistance is the same. The recent day highs and lows are easily visible and also the daily range fibo levels.
With the H4 high-lows drawn, it is easier to see if there are consecutive cluster of highs or lows to help identify the support and resistance zones.
Every day, I draw the fibo levels of the previous day range, be it high-to-low, or from low-to-high. With the dragon and H4 candle formation, it is easier to look for continuation or reversal during the new day trading.
The fibo levels I look out for are the extended levels (127%, 138% and 161% ) above / below the prev day high-low. Continuation of trending condition usually push price above the 127% and 138%, otherwise more often than not, there will be a correction, and this can bring price back into the previous day range. But H4 PA tell a lot of the price behaviour, and M15 is good for timing the entries.
See attached chart of NZDJPY week 25.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett