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Sonic R. System

  • #37,821
  • Edited 9:54am Jul 24, 2012 9:40am | Edited 9:54am
Quoting traderathome
GU:

Might be developing into one of these bias changing situations. It needs a pullback and then a rise past the 2nd high. This is the common factor in both situations,....you need two highs (high and higher high) and two lows (low and higher low), and then enter as PA moves up a third time. And the Sonic R. System EP might, or might not be, at the second high, because we enter at least several pips beyond the end of the first candle that exits the Dragon on that leg of the PA wave.
GU:

That pattern was killed when price was traded to lower lows. However, now there is another. And this time the up angle on the Dragon is much, much better. And as well, the Dragon is about to cross up thru the Trend line. Auspicious.

The pic attached shows the bias changing PA waves referred to. Personally, at this point, considering the ranging (which might continue) waiting for an entry above the half number might be prudent. That is about 16 pips beyond the end of the first candle out of the Dragon on this current leg of the PA waves. The risk here is that entering long at the top of the range will put the trade in the red if PA continues ranging, dropping again towards the bottom of the range. Which it could do between now and tomorrow. The only answer might be to place a tight SL.

If this looks too risky, then wait until tomorrow. Certainly by then, more of the market's cards will be on the table.
Attached Image (click to enlarge)
Click to Enlarge Name: july 2012 - 110.gif Size: 30 KB
  • #37,822
  • Jul 24, 2012 9:43am Jul 24, 2012 9:43am
Quoting alkenany
EU enterd short 1.2100
TP 1.2031
Today EU moved nearly 78 pips. Avg. move nearly 98 pips. Do you think will it reach today?
  • #37,823
  • Jul 24, 2012 10:01am Jul 24, 2012 10:01am
Quoting GuruKrish
Today EU moved nearly 78 pips. Avg. move nearly 98 pips. Do you think will it reach today?
EU:

There is a bearish PA wave pattern, but it could lead to nothing more than a Double Bottom.
Attached Image (click to enlarge)
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  • #37,824
  • Jul 24, 2012 10:25am Jul 24, 2012 10:25am
Quoting traderathome
EU:

There is a bearish PA wave pattern, but it could lead to nothing more than a Double Bottom.
How many hours do you spend daily for researching fx? You have a super brain. I am surprising how do you remember all these stuffs? You are a good trader + good technical writer.
Attached Image
  • #37,825
  • Jul 24, 2012 10:27am Jul 24, 2012 10:27am
Quoting GuruKrish
Today EU moved nearly 78 pips. Avg. move nearly 98 pips. Do you think will it reach today?
cannot tell for sure right now.
wait till London session close soon.
then US will call the shot for today.
still Pro-USD right now.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,826
  • Jul 24, 2012 10:43am Jul 24, 2012 10:43am
Good short setup at EU and EJ ???


edit: after capturing screenshot, EU have stopping volume. This may lead to a double bottom as TAH said.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 40 KB
Click to Enlarge Name: 2.gif Size: 41 KB
Keep Simple...!
  • #37,827
  • Jul 24, 2012 11:05am Jul 24, 2012 11:05am
Still happy with -20 today.. The only trade got profit just usd chf..

Enough for today.. here some gif to make u laugh a little..

http://img4.hostingpics.net/pics/162...rotherpush.gif
  • #37,828
  • Jul 24, 2012 11:25am Jul 24, 2012 11:25am
EU and GU Market Comment:

So, after the LS closed and it became the US only market, both of these are being traded down. Under the circumstances of less interference with any moves, it would seem the moves are buying motivated, i.e., liquidity creation drives down to add long positions while there is less competition around for whatever liquidity for buying becomes available. This could be a bullish sign, a harbinger for bullish PA moves tomorrow, or thru the week.
  • #37,829
  • Edited 12:21pm Jul 24, 2012 11:47am | Edited 12:21pm
Quoting ArtfulDodger
The way I see it, it's the same for any valid SonicR trade. You just have to keep an eye on it as it progresses and be prepared to exit when necessary.

If it is a valid trade, it's a valid trade. Doesn't really matter when it appears. Sometimes the trade enters and turns around on you. You just never know.
Clarification

It does matter when the proper PA wave pattern appears. Most patterns traded before the London session begins, fail. Even a large portion of patterns traded in the early hours of the London session, fail. By "fail" I mean they don't go far, not far at all. And they are frequently followed by either a SL hitting whip before continuing, or by an opposite setup!

Don't believe that? Ok, strip everything off your chart but PA, Dragon and Trend, ......no vLines and no Clock! And trade every valid PA wave pattern, irrespective of time of day or day of week. And please, for educational purposes, let all Sonicers know how that turns out.

Look at AU from earlier today. A PA wave pattern formed during the asian session, following a succession of higher HLs, and EP occurred right at the London Open. What happened? Disaster! PA fell and simply ranged some more. This was followed by a drive up not supported by a proper wave pattern. The spike did not go far either, so maybe that was a drive up by some "expensive" trading outfits to add shorts. And then, finally, a run down, also not supported by a proper wave pattern. Some days proper PA wave patterns are just not available to provide a trade entry at a good time. When is a "good" time? Maybe starting a couple hours into the London session until a couple hours into the US session, and I guess a lot could also depend on changing market volatility.

In review of the AU situation. For one thing, the PA waveform suggested a counter-trend trade. We have to be very picky with counter-trend trades. For another thing, there was consolidation/time spent at the second high price area. This is a strange place to be trading if prices are going to go higher. You'd think such prolonged trading would be kept to the lower parts of the PA wave form. So, and in retrospect, this was a clue that things were not right with this setup for a long trade.
Attached Image (click to enlarge)
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  • #37,830
  • Edited 1:21pm Jul 24, 2012 12:41pm | Edited 1:21pm
Quoting traderathome
Clarification

It does matter when the proper PA wave pattern appears. Most patterns traded before the London session begins, fail. Even a large portion of patterns traded in the early hours of the London session, fail. By "fail" I mean they don't go far, not far at all. And they are frequently followed by either a SL hitting whip before continuing, or by an opposite setup!

Don't believe that? Ok, strip everything off your chart but PA, Dragon and Trend, ......no vLines and no Clock! And trade every valid PA...
By "valid" I meant that ALL the SonicR rules were met.
  • #37,831
  • Jul 24, 2012 1:21pm Jul 24, 2012 1:21pm
Quoting ArtfulDodger
By "valid" I meant that ALL the SonicR rules were met.
Hi ArtfulDodger,

What TAH said is correct. If we take trade before LO we have to more caution about changing trend.

My idea is if we have proper setup within LO to NYO, we get into the trade. If the trade extends after LC, we can enjoy free trade till price cross the dragon.

Regards,
GK

Good Night
  • #37,832
  • Jul 24, 2012 1:30pm Jul 24, 2012 1:30pm
Quoting GuruKrish
Hi ArtfulDodger,

What TAH said is correct. If we take trade before LO we have to more caution about changing trend.

My idea is if we have proper setup within LO to NYO, we get into the trade. If the trade extends after LC, we can enjoy free trade till price cross the dragon.

Regards,
GK

Good Night
Thanks for the comment GK, and I also responded to TAH's comment just to clarify what I meant.
  • #37,833
  • Jul 24, 2012 5:58pm Jul 24, 2012 5:58pm
See Diagram
Attached Image (click to enlarge)
Click to Enlarge Name: AU 1hr TF Entry.jpg Size: 304 KB
  • #37,834
  • Jul 24, 2012 7:26pm Jul 24, 2012 7:26pm
while the other USD pairs made their move, I am looking closely at GU to see if it will break low today. Could be this pair be a late starter.
I still see composite USD strength so I am still pro-USD today until I see otherwise.
We shall see.

Good Trading to ALL!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD H1 25 Jul 25-7-2012 8-22-55 AM.png Size: 44 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,835
  • Jul 24, 2012 7:36pm Jul 24, 2012 7:36pm
Quoting worldfreedom
See Diagram

very good details writtten on our chart. Thanks for sharing.
I see the H1 downtrend is still intact and this may continue until I see a reversal pattern.
1.022 remain a swing level and there is a lower channel support. If PA break this lower channel, then it will confirm a deeper correction.

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #37,836
  • Jul 24, 2012 9:25pm Jul 24, 2012 9:25pm
play in other sandboxes :-)

wicked for beginners - i´m short in eu in m30 and go long in m5 for an scalp.

Attached Image (click to enlarge)
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as an u.s. person - i would open 2 accounts - one for shorts the other for longs ...

here this for the soldiers - i´m not a framer

Inserted Video


enigma4x
enjoy my life ... and ride the waves - all what I do
  • #37,837
  • Jul 24, 2012 10:01pm Jul 24, 2012 10:01pm
It is hard to tell that GU will broke down or not. That trend line (try to draw it and see what happen in tf m15. Yesterday, every time it hit that line it will bounce up. However, today the forecast news is bad for gbp. we'll see something interesting today.

yesterday i bought GU and pot +40 pips.
While My AU I close it with +5 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 29 KB
Money Management and Patience is the Key
  • #37,838
  • Jul 24, 2012 10:02pm Jul 24, 2012 10:02pm
my monthly Trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 22 KB
Money Management and Patience is the Key
  • #37,839
  • Jul 24, 2012 10:28pm Jul 24, 2012 10:28pm
Quoting enigma4x
play in other sandboxes :-) wicked for beginners - i´m short in eu in m30 and go long in m5 for an scalp. Attachment as an u.s. person - i would open 2 accounts - one for shorts the other for longs ...here this for the soldiers - i´m not a framer http://www.youtube.com/watch?v=XCwn3...eature=related
enigma4x
waffenstillstandsunterhandlungen
  • #37,840
  • Jul 24, 2012 10:34pm Jul 24, 2012 10:34pm
Quoting jasakreatif
waffenstillstandsunterhandlungen
what is that means Jasa Kreatif?
Money Management and Patience is the Key
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