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Sonic R. System

  • #38,821
  • Aug 22, 2012 8:18am Aug 22, 2012 8:18am
Quoting kashTrader
Sorry whats U/J?
Your USD/JPY (U/J) chart.

That chart looks late to go for short entries.
  • #38,822
  • Edited 9:00am Aug 22, 2012 8:24am | Edited 9:00am
Quoting traderathome
I agree, the 1.2500 area will likely be hit. I have rarely witnessed the pump before the dump not hit a whole number (and more likely a bit above). I think the BBs are saving that little drive up for the last minutes, so they can hit the stops on a lot of shorts just before they initiate the profit making run down.

As far as making me mad, no. I fully expected this, and that is exactly why I stated that the moves up might not be over with, and why we should not let a bear bias and the waiting for a short setup keep us from trading any good...

Yeah... I think they will probably use the news if it is good to puch it down to the 1.2400-1.2375 level possibly as that would make it a range of about 100 pips which is normal. Then when the FOMC comes out would not be a suprised to see a quick jump tp 1.4500 because it was never hit. Not hitting a whole number like 500 is just eye candy targets for the BB. Probably spike it and drop. It might spike the other way then jump up depending where the news take the market in relation to resistance. 1.4500 IMO will be hit one way or another in the next day BUUUUUUT I don't worry about it to much I just folllow price action S/R with a few indicators for trend visuals. What happens after the news release will say a whole lot IMO for what will happen later. When you move toward one resistance they usually like to spike it or if they are going to break it they will back away to the nearest major resistance and then make a run at it to make more money. Thanks for the good work TAH.

As soon as I posted that they drop the news a little early. Somebody pushed the send button to soon. SMH
  • #38,823
  • Aug 22, 2012 8:33am Aug 22, 2012 8:33am
EU and GU Commentary:

Both are Sonic R. short setups. However (and this is big), there are 4 hours that separate the two USD high impact releases. This is plenty of time for the market to whipsaw prices, i.e., drive prices back up real high to take out those that have already entered short. So, keep this in mind if you decide to trade short before both releases are history, ....either a tight SL and if you get hit then re-enter later if it still looks good, or a very very wide SL to avoid being taken out by whipping if you believe in the trade. Your decision. Or, simply wait thru the day until the fireworks seem over.
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  • #38,824
  • Aug 22, 2012 8:49am Aug 22, 2012 8:49am
Quoting traderathome
EU and GU Commentary:

Both are Sonic R. short setups. However (and this is big), there are 4 hours that separate the two USD high impact releases. This is plenty of time for the market to whipsaw prices, i.e., drive prices back up real high to take out those that have already entered short. So, keep this in mind if you decide to trade short before both releases are history, ....either a tight SL and if you get hit then re-enter later if it still looks good, or a very very wide SL to avoid being taken out by whipping if you believe in...
HAIL the great TAH
  • #38,825
  • Aug 22, 2012 9:14am Aug 22, 2012 9:14am
Patience...Shorties,,

It could break up..only to short if 1.243x revisited..

Sonic
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  • #38,826
  • Aug 22, 2012 9:19am Aug 22, 2012 9:19am
Quoting sonicdeejay
Patience...Shorties,,

It could break up..only to short if 1.243x revisited..

Sonic
Yep totally agree.
  • #38,827
  • Edited 10:12am Aug 22, 2012 9:48am | Edited 10:12am
Quoting traderathome
EU and GU Commentary:

Both are Sonic R. short setups. However (and this is big), there are 4 hours that separate the two USD high impact releases. This is plenty of time for the market to whipsaw prices, i.e., drive prices back up real high to take out those that have already entered short. So, keep this in mind if you decide to trade short before both releases are history, ....either a tight SL and if you get hit then re-enter later if it still looks good, or a very very wide SL to avoid being taken out by whipping if you believe in the trade. Your decision. Or, simply wait thru the day until the fireworks seem over.
Quoting sonicdeejay
Patience...Shorties,, It could break up..only to short if 1.243x revisited..Sonic
Quoting TRMZXT
Yep totally agree.
I do also agree with Master Sonicdeejay and TRMZXT. That EP area still holds while the market plays it's fiddle.
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  • #38,828
  • Aug 22, 2012 10:02am Aug 22, 2012 10:02am
but even when the PA goes back to the 1.243x shouldn´t we wait the second news passed ?
  • #38,829
  • Aug 22, 2012 10:17am Aug 22, 2012 10:17am
Dat POP... I think it took out a fair share of stoploss
  • #38,830
  • Edited 10:58am Aug 22, 2012 10:36am | Edited 10:58am
Quoting traderathome
EU and GU Commentary:

Both are Sonic R. short setups. However (and this is big), there are 4 hours that separate the two USD high impact releases. This is plenty of time for the market to whipsaw prices, i.e., drive prices back up real high to take out those that have already entered short. So, keep this in mind if you decide to trade short before both releases are history, ....either a tight SL and if you get hit then re-enter later if it still looks good, or a very very wide SL to avoid being taken out by whipping if you believe in the trade. Your decision. Or, simply wait thru the day until the fireworks seem over.
Quoting sonicdeejay
Patience...Shorties,,It could break up..only to short if 1.243x revisited..Sonic
Quoting O3TZi
but even when the PA goes back to the 1.243x shouldn´t we wait the second news passed ?
If a short entry is made prior to the last release (and the dust settling), then the precautionary choices originally stated would still, naturally, make sense to apply. Or, wait until the dust settles for whatever setup later comes. The framework, the whole idea behind all this is the premise (and it is only that) the market is driving prices in the anti-USD direction ahead of a sequence of USD high impact releases, in order for the market to capture/build pro-USD positions at attractive prices before all the releases come out. So, keep in mind the USD high impact release coming tomorrow, too. And while all this is going on, if the premise is correct, we should not be surprised if the market also resorts to whipsawing to steal positions from others. And so, if any trade is entered during this process, how the SL placement is handled becomes of some importance. As does adherence to sensible money management.
  • #38,831
  • Aug 22, 2012 11:13am Aug 22, 2012 11:13am
i'm waiting a EJ short setup like that, target may be at 97.7x zone
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Keep Simple...!
  • #38,832
  • Aug 22, 2012 4:17pm Aug 22, 2012 4:17pm
Hey everyone, i ment to ask for a very long time what do you guys think about this dude: http://www.ebay.com/itm/1-year-coach...item2a21b02fbd

He claim that he can make 800 pips a week like 1 hours trading a day.

There is no spoon....
  • #38,833
  • Aug 22, 2012 8:22pm Aug 22, 2012 8:22pm
Quoting sonicdeejay
Patience...Shorties,,

It could break up..only to short if 1.243x revisited..

Sonic
11 hrs later.. Told cha..

Sonic
  • #38,834
  • Aug 23, 2012 5:38am Aug 23, 2012 5:38am
ucad entered long.
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Dragon the best Indicator
  • #38,835
  • Aug 23, 2012 5:49am Aug 23, 2012 5:49am
Quoting mg_vinodkuma
ucad entered long.
Sorry newbie question, is the dragon sufficiently angled up to take this setup?
  • #38,836
  • Aug 23, 2012 5:52am Aug 23, 2012 5:52am
Rookie mistake? Dragon not angled down!
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  • #38,837
  • Aug 23, 2012 5:56am Aug 23, 2012 5:56am
in my opinion ist is angeled up enough to take this trade, but i´m also a newbie
  • #38,838
  • Aug 23, 2012 8:12am Aug 23, 2012 8:12am
not sure if it's a good long setup (UCAD)

TP 9937
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Keep Simple...!
  • #38,839
  • Aug 23, 2012 9:16am Aug 23, 2012 9:16am
Quoting kashTrader
Sorry newbie question, is the dragon sufficiently angled up to take this setup?
focus on the setups near or around the S&R areas, eventually youll see you dont need the dragon for confirmation. theres a lot of entries posted here where dragon indi is not properly angled when they entered the trade.
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  • #38,840
  • Aug 23, 2012 9:17am Aug 23, 2012 9:17am
Quoting alrightfrank
focus on the setups near or around the S&R areas, eventually youll see you dont need the dragon for confirmation. theres a lot of entries posted here where dragon indi is not properly angled when they entered the trade.
Thanks
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