Sonic R. System

http://blogs.marketwatch.com/thetell...yprus-turmoil/

Right, when I re-read and see the chart again, the we don't have to wait for the cross, especially in 15min or higher.

However for re-entry, as described in manual they dragon needs to be above 89ema, in case we missed the first break.

I like the old sonic CCI indicator as it shows momentum, however now I use 1H macd, i think it works well with sonic system.

I'm just trying to figure out things, as the nick names are a little bit confusing, eg at some point in the manual, the word dragon and 34ema are used
in the same sentence, as though they are 2 different things. Another time dragon tunnel is mentioned.

With USD index is topping, and reversing now, and EU couldn't break 50% and 79% fibs on daily TF, we should see a correction next week.

wait and ......

EU, Are MMs Bulls, Bears, or Bears That Look Like Bulls?

Sonicers, Master Sonicdeejay heard there were 900 million euro shorts last Friday, and asked me to look further into it, suggesting the COT report. I didn't do anything that anyone else cannot do. I Googled the COT report, found the "financials" and scanned down the list. I found this....

.....Chicago Mercantile Exchange as regards 3-month eurodollars contracts (1 million dollars each contract) .....the change from 03-12-2013 has been a decline of 1,401,232 of these contracts. Open interest is down to 11,508,35 contracts. Therefore the open interest dropped 10.85% since 03-12-2013.

With a decline of 1,401,232 contracts (worth 1 million dollars each contract) over the days since 03-12-2013 (not sure when the stop date of the report is, but it doesn't matter), it is easy to accept that a meager 900 million euro shorts could have been transacted on any single day, including Friday.

EU is definately showing bearish now on Daily, too. PA is a consistent pattern of lower HLs. The Dragon is angled down. The Trend Line is angled down. And the Dragon has crossed down below the Trend Line. Lets talk more about this last point. On H1, after the Dragon crosses down thru the Trend Line there can be a whip back up of the price towards/into/even thru the Dragon, a bullish move but but put on by bear MMs seeking more shorts, and this is confirmation the price is in the MARK DOWN phase and is going lower. So now we have this situation on the Daily chart, and it bears monitoring because there could be a totally manipulated rise in price back towards/into/thru the Dragon, a bullish PA move put on by bear MMs seeking more shorts before pulling the rug out from under EU!

Considering all this, while EU might be destined to go lower, in the short term there might be an upside move. The Sonic R. System doesn't care. Setups in either direction can be had regardless of overall trend. You just want to be more of a watch dog on counter-trend setups.

Finally, there is a previous gap down (at the open last week) that has not been filled. No law says it has to be filled, but it might be filled and then the price run even higher, and especially if the euro continues to teeter on breaking news of one bad situation after another (pump & dump). Cypress could just be the beginning and it might only work if a substantial tax on substantial deposits is approved. It is a form of currency devaluation! That is usually the last step before a currency collapses! Not that the euro will collapse, the super rich have too much to lose to allow that to happen. But, where are the super-rich going to put their money if by putting in into banks they might be forced to take such hair cuts also? Big problems ahead for the super-rich, and for the euro, while the super-rich figure out just how to instigate the hair cuts for everyone else, without having to take them themselves.

One way would be to dump the euro as an asset they hold. Shorting EU aligns with that. And that adds weight to the premise the MMs are bears on EU. Just keep in mind that bears can put on bull price moves to sucker in more longs so the bears can add more shorts. Also, keep in mind that if such a "bull" move takes place, it can be for purely bearish reasons and followed by a whopping MARK DOWN, one that could start quite suddenly! So, if trading long, be extra alert and cautious.

Just My Take,
-tah

Morning all!
Few early entries on 5min charts with SL and TP still open...

1.3020 acting as support now..

See what. LO brings..

Sonic

EURJPY : From Wave It's going to down. I put limit sell & SL on wave leg #2.

I might be too early on this one as well, but I'm short on it.

Took profit at full number.

EU: Entered short #1. PA closed 03-15-2013 gap and now is resuming bearishness off the gap closing highs.

EURJPY.......

Took profits on all these.
All were before London setups, so being extra careful with these...

This entry I didn't want to post when entered, because this was purely based on volume, but took profit from this aswell.

Not so bad start for the week. 95pips already. Sonic R rocks!
http://www.forexfactory.com/jrissa#48

Entered long AudChf.

Hi JRissa, where your tp likely at for this AUD Chf chart, i see a lot of resistance ahead.

EG: Entered short trade #1, based on EU resuming bearish after closing previous week gap down and GU having bullishness.

TP to recent 4h highs.

hey.. are most of your TPs to 4h charts support / resistance levels?

I read the manual and its stated there as support/resistance levels was wondering is there an optimum time frame?

thanks