Sonic R. System

i will wait for the opening to see what's wrong.

GU: look like i was too right

same here boss, looking forward to check it out....

EU Weekly Analysis

http://www.forexfactory.com/showthre...=171827&page=2

Here´s a nice video on how to pick possible targets for your trade, or

know when your trade might not run that long.

Here´s the link to the post and video to give credit http://www.forexfactory.com/showthre...59#post6322759


Anyway looking at what he shows it makes perfect sence when looking at the daily E/U chart for targets.

Hope it might help someone.

Regards,

H.

Hansma, thank you for posting this. This gentleman is very clear and straightforward in explaining things. His use of the Fibonacci Retracement study to measure pullbacks, and the use of the Fibonacci Extension study to project target levels of a continuation run is basic and well illustrated in his video.

One can add levels to the FR study equaling what the FE study produces, so that the FE study is not required. I have done this in the attached picture. This picture is of the Weekly chart. It shows the current run & pullback (red) is less than the previous run & pullback (blue), and the conclusion per this method is that the bulls are weakening and the bears are strengthening.

The proper use of this method is to measure pullbacks via the FR study, and then use the ending point of that pullback as the starting point for the measurement of a projected continuation run of the same length as the first run (the height of the FR study). This method seeks targets for the projected continuation run. This method can be applied on any TF chart to measure the pullback to a run to project targets for a possible continuation run.

And this gentleman makes clear an important point. Using a run down (as in this picture) as an example, the higher the pullback to the run down the stronger the bulls, and the weaker the pullback to the run down the stronger the bears. In this case we see the pullback went fairly high (above the FR 50% level) which might indicate bullishness, but this is lower than the very significant pullback to the previous run down, which is why the conclusion now might be that the bears dominate after heavy distribution at the highs of that previous pullback.

Look at Friday's price action, the pullback to the run down failed even to achieve the FR 38% retrace level. So this too, is an indication the bears dominate now.

Finally, please note that when adding the extension levels to the FR study, I did not use the "127%" level used in the video. The video makes it clear the the 127% level is "scarcely achieved". I have used "123.6%" instead, as I find this "124%" level to be a better measure for a target when the pullback achieves the area of FR 178.6% (179%) level.

Again, thank you, Hansma,
-tah

FXDD closes shop at 4pm EST on Fridays. Some other brokers do not close until the standard 5pm EST daily closing time. I have often wondered if FXDD does continue to trade during that last hour, but only for themselves; if they cut their clients data feed off an hour early, putting the clients at a disadvantage and themselves at an advantage.

-tah

Hy Tah,
and here how the week opens on FXDD charts.
it starts with a big down gap.
i wonder if i can take ant advantage of this situation...

GU:

The question I have is will the LS outdo the Asian session in making LOD? If the MMs are using all this BS just to torpedo the price to load up longs, then the Asian session might not end up setting LOD. The bigger MMs in the LS might.

Who knows how much of the last two months of price decline has been due to the expectancy of this downgrade, with the MMs loading up longs for some time, and planning on an extra move down once the announcement occurred in order to attempt to completely wipe out other longs.

-tah

EG: Added short #4 earlier, Scout. I am not adding to other trades involving GBP at this time. I want to see what the LS MMs do with the prices. For now, it looks like the MMs are simply taking advantage of the GBP downgrade, moving prices to add cheaply to their positions! Very likely, too, as the market tends to price in such crap well before it is announced, so when it is announced the MMs can move the price further, load up, and then start moving the price back in the other direction!

I saw EURO not yet ready to closing the GAP

EU Comment:

The high volume at the last two lows puts a bullish flavor on this. The gap up and quick pullback to previous prices also does; the market makers might have opened it high, but the Market Manipulators quickly brought it back down. This makes it appear the MMs want to keep it low for building longs before they let it rip upwards. I guess there is a fair chance then that the MMs will bring price even lower first. There is a EUR high impact release in about five hours. I don't know that the the Italian Parliamentary Elections have any direct effect on forex, but then the MMs seldom abide in anything having a direct correlation to their price moves except greed and profits.

The trend is down since last Wednesday without a decent pullback, so if we are seeing the start of a bull swing retrace it should not be all that surprising.

-tah

Just speculation

EJ : entered LONG
EU: entered LONG

Patience pendawans...

LO will show..

Sonic

EU:

Tempted myself to enter long, but waiting to see what happens during FO and maybe LO. It seems reasonable to expect the MMs to pull the price down again to load more longs rather than just start driving it up, right off the bat as the week opens. Your entry looks very good off the so far tight range, and price might not pull back down.

NC: Entered long on pullback.

UJ: Added short #2, Scout.

wanna to share some idea:
1. the TREND is your friend in trading, EGO will lose your money.
2. I see many traders here are tradeing the Sonic R ENTRY, but NOT the Sonic R SYSTEM.

What is Sonic R SYSTEM?!!, really i hope Sonicdeejay and TAH can give clear answer....

Short the AUD CAD late entry due to weekend only entered with 1/2 position will average if it retests S&R. SL is Firm. TP open to be determined.

Close all my trade with +77 pips waiting for news.
Look like EJ will reversal