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Sonic R. System

  • #39,541
  • Oct 2, 2012 12:03pm Oct 2, 2012 12:03pm
UCad: Entered long. LS is closed, but PA is at important SR on Day chart and has had several buying drives up today, as shown on M15 VSA. This might, or might not continue up before next LS. And the risk here is that the next asian session trading might involve pulling PA back down for more buying. SL is picked, but remains mental for the time being.
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  • #39,542
  • Oct 2, 2012 7:41pm Oct 2, 2012 7:41pm
UChf:

Here is a possibility. M15 shows that yesterday, late in the LS, PA was quickly spiked down about 25 pips while trading went to the highest levels of the day! Since then, price has steadily moved back higher. A good Sonic R. long entry was in "off hours". I am hoping that "typical" price maneuvers out of the FO or LO will bring price back down to the desired EP area for another opportunity at a good entry long. A tentative TP and SL are shown.
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  • #39,543
  • Oct 2, 2012 9:45pm Oct 2, 2012 9:45pm
EJ Comment:

Another nice one, possibly. Right now PA is in the EP zone, but FO/LO might do a booster. You know, to grab shorts at a higher price. Used M30 to show enough history to see why DS2 is a nice target. Good "stopping" volume at the highs at the tail end of the LS yesterday, too. H4 shows PA broke down thru SR and has since backtested it several times. The current H4 bar is about ended and looks to be a quite nicely engulfing bear candle.
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  • #39,544
  • Oct 2, 2012 9:58pm Oct 2, 2012 9:58pm
Quoting traderathome
Post charts with EP, SL and TP or don't post!
I'm going to post the charts with the lines. If not, I'll not post.
  • #39,545
  • Oct 2, 2012 10:03pm Oct 2, 2012 10:03pm
EJ: Entered short. SL mental for now because if this is going down, then the Frankfurt or London mkt. might spike price up first.
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  • #39,546
  • Oct 2, 2012 10:06pm Oct 2, 2012 10:06pm
[quote=traderathome;6062967]EU Commentary:

H4 shows bearish, with PA previously falling thru SR and more recently backtesting it multiple times. A very bearish candle on this last backtest, while the others were "indecisive" backtest candles.

M15 VSA shows the selloff at the highs late in the London session. What next? Anybody's guess, but perhaps some ranging now while the market might need to continue to close longs and maybe convert to shorts. The asian session has not had much opportunity to do so in this new range, so PA might go up/down until next LS while the asian session market takes advantage of this new price area. Possibly even a spike exceeding last significant high in next LS to take out weak hands that might be jumping the gun shorting already?

Thanks. Today we have not big news and in Germany is bank holiday. I don't expect a runner. There was some sell-off during the asian session slowly as usual but unusual. Spain'll ask soon for a bailout...who knows... the market'll decide.
  • #39,547
  • Oct 2, 2012 10:36pm Oct 2, 2012 10:36pm
Now I can draw the lines...a beautiful channel is forming. I'm worried about fakeouts.
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  • #39,548
  • Oct 2, 2012 11:59pm Oct 2, 2012 11:59pm
Quoting traderathome
UCad: Entered long. LS is closed, but PA is at important SR on Day chart and has had several buying drives up today, as shown on M15 VSA. This might, or might not continue up before next LS. And the risk here is that the next asian session trading might involve pulling PA back down for more buying. SL is picked, but remains mental for the time being.
UCad: TP1 reached and trade closed for 30 pips gain, EP1 to TP1.
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  • #39,549
  • Oct 3, 2012 12:13am Oct 3, 2012 12:13am
Here is the trade. Market will be choppy in my mind. Tp1 is gone.
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  • #39,550
  • Oct 3, 2012 12:49am Oct 3, 2012 12:49am
here are the levels i plot, if PA bounced within this areas and show a setup in m5 ill go long and let the market decides.
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  • #39,551
  • Oct 3, 2012 1:00am Oct 3, 2012 1:00am
I took this other trade... PA bounced in my mind. Hypercare carefully is needed.
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  • #39,552
  • Edited 1:46am Oct 3, 2012 1:28am | Edited 1:46am
Quoting traderathome
UChf:

Here is a possibility. M15 shows that yesterday, late in the LS, PA was quickly spiked down about 25 pips while trading went to the highest levels of the day! Since then, price has steadily moved back higher. A good Sonic R. long entry was in "off hours". I am hoping that "typical" price maneuvers out of the FO or LO will bring price back down to the desired EP area for another opportunity at a good entry long. A tentative TP and SL are shown.
UChf: Entered long. Price was moved back down. At this point PA no longer has the appearance of a SonicR setup. But, as explained, entry is based on the previous setup and EP zone marked. The risk is great. The assumption is price is still going north, but has been maneuvered back down so the London market can load up longs at a low price. If it does not work out that way, the trade loses. The US market might do the same. Or, PA could go south. SL is mental and will be that way at least until after the USD releases that are coming.
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  • #39,553
  • Oct 3, 2012 1:35am Oct 3, 2012 1:35am
Quoting traderathome
UChf: Entered long. Price was moved back down. At this point PA no longer has the appearance of a SonicR setup. But, as explained, entry is based on the previous setup and EP zone marked. The risk is great. The assumption is price is still going north, but has been maneuvered back down so the London market can load up longs at a low price. If it does not work out that way, the trade loses.
Wash and rinse...It happens.
  • #39,554
  • Edited 1:50am Oct 3, 2012 1:35am | Edited 1:50am
Quoting traderathome
UChf: Entered long. Price was moved back down.
tah, you went long here uchf, are you expecting the eu to go down? i mean isnt eu and uchf acts opposite?

@umbro: thanks

im in @ 1.29148, let the market decide.......
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  • #39,555
  • Oct 3, 2012 1:45am Oct 3, 2012 1:45am
Quoting alrightfrank
tah, you went long here uchf, are you expecting the eu to go down? i mean isnt eu and uchf acts opposite?
My humble opinion is that we are in a big mess...cause "saving europe" is not clear mission. Greece will go default. China is on holidays and with Japan they are disputing about 3 small islands which both claim the ownership. This is having a bad reflection on the economy of Japan and China as well. I think we are in a very uncertain situation. Italy and Spain jobs are getting worse. EU should go down in my mind. But as always only the market will decide.
  • #39,556
  • Edited 2:05am Oct 3, 2012 1:52am | Edited 2:05am
Quoting alrightfrank
tah, you went long here uchf, are you expecting the eu to go down? i mean isnt eu and uchf acts opposite?
Hi, Frank. Please view this post:
http://www.forexfactory.com/showthre...67#post6062967

Overall, yes, EU looks bearish and UChf bullish. We have two high impact USD releases coming later today. Now this is speculative, but if the market anticipates things will favor the USD, then it is not surprising that the market would whip prices in the opposite direction beforehand, in order to build positions at great prices. My bet is on these EU charts, and similar ones for UChf (opposite direction of course), and that things swing in favor of the dollar. And there is the rest of the week for this to play out. However, this could play out either way.
  • #39,557
  • Oct 3, 2012 1:53am Oct 3, 2012 1:53am
Quoting alrightfrank
tah, you went long here uchf, are you expecting the eu to go down? i mean isnt eu and uchf acts opposite?

@umbro: thanks

im in @ 1.29148, let the market decide.......
you are welcome, bro !
  • #39,558
  • Oct 3, 2012 2:00am Oct 3, 2012 2:00am
Quoting traderathome
Hi, Frank. Please view this post:
http://www.forexfactory.com/showthre...67#post6062967

Overall, yes, things look bearish. We have two high impact USD releases coming later today. Now this is speculative, but if the market anticipates things will favor the USD, then it is not surprising that the market would whip prices in the opposite direction beforehand, in order to build positons at great prices. Those charts have a bearish sentiment, however, this could play out either way. My bet is things swing in favor of the...
I would like to refer to you one thing about the template. I just noticed that the FFcal today (1 hour ago) did not show the 2 hot news for this evening ADP and ISM (look at my posted charts today). Do I need to set some config parameters or something...Thanks
  • #39,559
  • Oct 3, 2012 2:16am Oct 3, 2012 2:16am
Quoting umbro
I would like to refer to you one thing about the template. I just noticed that the FFcal today (1 hour ago) did not show the 2 hot news for this evening ADP and ISM (look at my posted charts today). Do I need to set some config parameters or something...Thanks
Umbro, only four items are listed at a time. There were a few low impact EUR releases (green), and when they were history more cycled up to be shown, now including the USD high impact releases (red). You have some control. You can elect to not show the low impact releases (green) and mediumu impact releases (blue).

I'll tell you again what you read in the post releasing the indicators you are using..........

.......read the user notes in the compiles of the indicators!


-tah
  • #39,560
  • Oct 3, 2012 2:21am Oct 3, 2012 2:21am
Quoting traderathome
Hi, Frank. Please view this post:
http://www.forexfactory.com/showthre...67#post6062967

Overall, yes, EU looks bearish and UChf bullish. We have two high impact USD releases coming later today. Now this is speculative, but if the market anticipates things will favor the USD, then it is not surprising that the market would whip prices in the opposite direction beforehand, in order to build positions at great prices. My bet is on these EU charts, and similar ones for UChf (opposite direction of course), and that things...
ok, i got you now thanks.
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