Catch of the day. 6 trades, 6 winners, +103 pips, Period.
Sonic
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Sonic
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- #44,581
- Edited 9:11am Mar 4, 2013 8:09am | Edited 9:11am
- | Commercial User | Joined Mar 2008 | 9,068 Posts
- #44,583
- Edited 7:02pm Mar 4, 2013 8:23am | Edited 7:02pm
- | Commercial User | Joined Mar 2008 | 9,068 Posts
- #44,586
- Mar 4, 2013 10:38am Mar 4, 2013 10:38am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
GU:
A long setup.
The key is that the Dragon has upward angle and that PA is above the Dragon (and better still if above the Trend Line). By the time the Dragon crosses the Trend Line this will be into a "re-entry" situation. The location of the wave and Dragon setup is well situated relative to the half number.
This could end up a bit premature, which is to say that the MMs might pull it back down later, maybe to previous lows. Anything can happen, but this is a decent setup with decent building volume starting it off.
GU:
Here, here and here! All three are simply events where bullish MMs reduced prices to get themselves more longs at better prices. Are they finished? Who knows. We still have the US MMs coming to the table later, and they might do the same also.
-tah
...............Told cha!
Seriously, some here post trades after-the-fact. I am only trying to help others by giving advance notification, according to what I see. Soros once made billions betting against the GBP, and I am still wondering if he recently bet for it......
-tah
- #44,587
- Edited 11:47am Mar 4, 2013 10:51am | Edited 11:47am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU and GU:
.....and while both might be on the upside now for a while, here is indication that GU will out-move EU. For those trying to figure out how to use SonicR volume, here is an example,......bear MMs putting on a bull price manipulation for the sole purpose of adding shorts at a price more favorable to themselves.
And please remember that we do not recommend trading on a "volume story" alone. It is recommended that any such "volume story" be waited out and referred to when the next Sonic R. setup forms (or a re-entry), to see if there is confirmation or conflict. In this case, MMs pulled the price back up for the US Open and then the US MMs started selling. Afterwards, again the price was pulled back up, and this would have been an area for re-entry short.
-tah
.....and while both might be on the upside now for a while, here is indication that GU will out-move EU. For those trying to figure out how to use SonicR volume, here is an example,......bear MMs putting on a bull price manipulation for the sole purpose of adding shorts at a price more favorable to themselves.
And please remember that we do not recommend trading on a "volume story" alone. It is recommended that any such "volume story" be waited out and referred to when the next Sonic R. setup forms (or a re-entry), to see if there is confirmation or conflict. In this case, MMs pulled the price back up for the US Open and then the US MMs started selling. Afterwards, again the price was pulled back up, and this would have been an area for re-entry short.
-tah
- #44,588
- Mar 4, 2013 11:54am Mar 4, 2013 11:54am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
AU:
Here is possibly an opportunity for a long trade. Note the highlighted volumes are as big as anything in the torpedoing this got, and they start from the very bottom upwards. This price-volume picture looks like the MMs torpedoed the price to start building longs at more favorable prices. Since this is a pair that can move better than some others during the Asian session, it might bear more watching. The Asian session MMs might also take the price back down some to load up longs, so some patience is required as the Dragon itself might do a "double dip" before this is truly ready.
-tah
Here is possibly an opportunity for a long trade. Note the highlighted volumes are as big as anything in the torpedoing this got, and they start from the very bottom upwards. This price-volume picture looks like the MMs torpedoed the price to start building longs at more favorable prices. Since this is a pair that can move better than some others during the Asian session, it might bear more watching. The Asian session MMs might also take the price back down some to load up longs, so some patience is required as the Dragon itself might do a "double dip" before this is truly ready.
-tah
- #44,589
- Mar 4, 2013 12:03pm Mar 4, 2013 12:03pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU:
This too has a bullish appearance based on price-volume. Note the highlighted volumes are associated with price moves below the whole number. Where do MMs like to build long? Since the torpedoing on Friday, this is ranging. This looks like the end of a Mark Down phase and the beginning of an Accumulation phase. Time will tell if this is the case, but this is worth watching closely now to see what setup next develops, and what additional price-volume clues might appear to help with the evaluation.
-tah
This too has a bullish appearance based on price-volume. Note the highlighted volumes are associated with price moves below the whole number. Where do MMs like to build long? Since the torpedoing on Friday, this is ranging. This looks like the end of a Mark Down phase and the beginning of an Accumulation phase. Time will tell if this is the case, but this is worth watching closely now to see what setup next develops, and what additional price-volume clues might appear to help with the evaluation.
-tah
- #44,590
- Mar 4, 2013 12:38pm Mar 4, 2013 12:38pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Catch of the day. 6 trades, 6 winners, +103 pips, Period.
Sonic
Wonderful, Master!Now, what was it you were saying a week or so ago, about not having so many trades per week, and you with just six in one day? Huh?
Seriously, a disadvantage to the thread in trading this way is that you might start a precedent that sometimes will involve having opposite positions opened at the same time, hedging, as you did here. USA traders cannot do this, not without having more than one account, one for longs and one for shorts. So, it might be better if you demonstrated closing out positons that are not going anywhere before, or at the time of entering opposite positions. It would be a simplier approach, easier to manage and also a good ongoing example for others (like myself) that need to see that closing such trades (before the market proves they are losers) is the best way.
-tah
- #44,591
- Edited 1:25pm Mar 4, 2013 12:56pm | Edited 1:25pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
1. Too large a TF to make a decision that is based on it alone. What happens on M15 can result in 50-100 pips movement that is completely contrary to what "is suggested" by such a large TF chart. If you see a hammer, pin bar, engulfing candle on H4/D1 then, yes that is a valid signal, but which still needs to be confirmed by a M15 setup!
2. You are allowing your stochs indy to lead you down the primrose path. It is a lagging indicator and it is not going to tell you anything better than that which the Sonic R. System uses! Traders will improve with the Sonic R. Sytem only after they can separate themselves from other indicators and learn to properly use PA waves and the Dragon-Trend, which means to learn how to use S&R and discern when a setup is a setup, strategically located relative to S&R.
I know how hard it is for a person to divorce themselves from their favorite indicator(s) (garbage indicators, as Basber calls 'em). I've been there.
-tah
- #44,592
- Mar 4, 2013 1:35pm Mar 4, 2013 1:35pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #44,593
- Mar 4, 2013 1:43pm Mar 4, 2013 1:43pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
UCad:
Even this is dropping late in the US session. A rare occurrence, indeed. This week might be a "sock it to USD" week. Or, perhaps the MMs are just posturing some things lower so they can drive 'em back up even higher, later. You know, the MMs favorite strategy,...."Ping Pong Pricing for Profits!"
-tah
Even this is dropping late in the US session. A rare occurrence, indeed. This week might be a "sock it to USD" week. Or, perhaps the MMs are just posturing some things lower so they can drive 'em back up even higher, later. You know, the MMs favorite strategy,...."Ping Pong Pricing for Profits!"
-tah
- #44,594
- Mar 4, 2013 4:52pm Mar 4, 2013 4:52pm
- | Commercial User | Joined Mar 2008 | 9,068 Posts
GU:
...............Told cha!
Seriously, some here post trades after-the-fact. I am only trying to help others by giving advance notification, according to what I see. Soros once made billions betting against the GBP, and I am still wondering if he recently bet for it......
the table may have turned..
Sonic
- #44,596
- Mar 4, 2013 7:19pm Mar 4, 2013 7:19pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU and EJ Speculation:
EU on Daily has completed one of two possible H&S formations already. Based on the last low being in the area of significant S&R, the possibility has been that price might now go back up a ways. If if does go back up, say around 200 pips to the 1.3200 area, this could start to make yet another right shoulder of another H&S formation (see Daily attached),.....around 200 pips to 1.3200 area. And that could mean EU ending up around a thousand pips lower, in time!
EJ on the H1 has a look of a "Distribution" phase" that is actually a "Mark Up" and "Distribution" combination. And, not surprisingly, another 200 pips is not altogether unreasonable. And if this is truely a marking up of price by the MMs while they covertly sell off, then guess what follows..........
-tah
EU on Daily has completed one of two possible H&S formations already. Based on the last low being in the area of significant S&R, the possibility has been that price might now go back up a ways. If if does go back up, say around 200 pips to the 1.3200 area, this could start to make yet another right shoulder of another H&S formation (see Daily attached),.....around 200 pips to 1.3200 area. And that could mean EU ending up around a thousand pips lower, in time!
EJ on the H1 has a look of a "Distribution" phase" that is actually a "Mark Up" and "Distribution" combination. And, not surprisingly, another 200 pips is not altogether unreasonable. And if this is truely a marking up of price by the MMs while they covertly sell off, then guess what follows..........
-tah
- #44,597
- Mar 4, 2013 8:10pm Mar 4, 2013 8:10pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
UJ Speculation:
If you examine closely the price-volume situation you will see that yesterday/Monday, following the sudden drive up on Friday, the heavier volumes have actually been lighter than the heavier volumes prior to Friday. What does this mean, anything? It could mean that folks are not fooled by the price rise on Friday, and are reluctant to be going long just now. And that could be bad news for the MMs if the spike on Friday was to establish higher levels for a Distribution phase. The MMs need folks to be going long if the MMs are going to get rid of theirs! Therefore, if this is now into a Distribuition phase, it might not be as successful as the MMs planned, and so the price might have to start falling off, maybe a stair stepping down Mark Down/Distribution combination phase.
Still, that does not preclude bear MMs from executing a climatic spike up in a last ditch attempt to trick longs into the market and to hit pending SL orders on shorts, before taking the Distribution process to lower levels.
This might be worth watching for the next SonicR setup. See if it is for a long or short. And see what addtional price volume clues appear between now and then.
-tah
If you examine closely the price-volume situation you will see that yesterday/Monday, following the sudden drive up on Friday, the heavier volumes have actually been lighter than the heavier volumes prior to Friday. What does this mean, anything? It could mean that folks are not fooled by the price rise on Friday, and are reluctant to be going long just now. And that could be bad news for the MMs if the spike on Friday was to establish higher levels for a Distribution phase. The MMs need folks to be going long if the MMs are going to get rid of theirs! Therefore, if this is now into a Distribuition phase, it might not be as successful as the MMs planned, and so the price might have to start falling off, maybe a stair stepping down Mark Down/Distribution combination phase.
Still, that does not preclude bear MMs from executing a climatic spike up in a last ditch attempt to trick longs into the market and to hit pending SL orders on shorts, before taking the Distribution process to lower levels.
This might be worth watching for the next SonicR setup. See if it is for a long or short. And see what addtional price volume clues appear between now and then.
-tah
