Sonic R. System

AU: TP1 reached for 40 pips gain, EP1 to TP1.

You are truly the master

Thank you for the kind sentiment, but I am just like every other Sonicer. I am here to improve my trading. And I make masterful mistakes sometimes, as can happen to anyone that lets their guard down, or starts to believe and trade their own bias instead of what the charts say.

If any credit is due, it is due Master Sonicdeejay for starting this and for continuing to encourage, and due all Sonicers that unselfishly contribute to this work as we each strive to improve.

-tah

Short Closed AU + 10 pips profit

Master THA, Are you a full time trader?

a Double top in Eur/USD? and probability of short setup? patience like sniper, 1 hour still in uptrend like Master Tah said

GU Comment:

Just after the turn of the market into this new day there was a spike in the price, running the price above the half number by 10 pips or so. This was on high volume relative to the volume at the time and since then. This was not restricted to charts of one broker. I see it on charts of several different brokers. It looks like some player ran stops to create liquidity to get own short orders filled at higher prices. If so, this could be a sign that more of the market is turning bearish. This is not an invitation to go short at this time. The H1 dragon is still angled up and the M15 Dragon is flat. But if the market is bearish, then things could start to move towards creating a short setup. Maybe in LS later today.

AU Comment:

In about three hours there is an AUD high impact release. This pair has led the market in transitioning from bull to bear (AU, EU, GU, etc.), but before more downside comes the BBs might try to pump it up in conjunction with this release, because it would give them higher ground to resume shorting ahead of more downside. PA might be driven back up to the PVT/ whole number area. This is pure speculation, but a distinct possibility. It if happens, then the pullback upwards could present a shorting entry.

UCad Comment:

On H1 the PA was heavy before it moved up out of the SR zone, indicating the market was consolidating (buying in a tight range) before the move up. With the new day now, there might be a backtest down to this SR zone/PVT. If it happens, a good SonicR long setup on M15 might also happen.

UCad: Entered long.

Hi TAH, Maybe I missed it but I want to know if you already closed your last EU short position and on which price since I remember your SL was mental. Thanks

Sorry I didn't get it, did you lose or win 43.6 pips?

long EJ

noted

SL, can't break DPV.


Now short GU and AU, EU, EJ

EU: TP1 reached for 56 pips gain, EP1 to TP1.

UChf: Entered long. Been ranging for a few days with nice volume at the lows.

well today market is pro-USD.
maybe the QE3 starts to sink in and the direction is getting clearer.
so it is easier to see which USD pair to long and short.

Trade Well!

GU Comment:

Worth keeping an eye on. The BBs keep pumping it back up into the last heavy trading zone (assumed Distribution/Supply area). They could be executing a massive sell-off campaign. Overall, lower highs and lower lows.....

suggestion for a novice: someone thinks it is convenient to enter short if the candle closes below the dragon?

ciao
morsamp

Convenient? Is that how we are supposed to choose? The rule is "...at least a few pips beyond the end of the first candle (PA wave leg #3) exiting the Dragon...." The purpose is to help avoid head fakes. But, on top of that, we need to also see the local SR which PA is reacting to. It might be that entry is best delayed until PA passes previous significant H/Ls. There is no single best answer, but surely "convenience" isn't a good answer. Also, before you enter, do decide on a SL and a TP.