Sonic R. System

Hi to all,
i have one question, does anyone use oanda fxtrade for classic entries?
Icant set 34 EMA for high or low, is it possible at all to modify their ema (i suppose it is set for close)?

My only weakness is determining TP location by figuring out support and resistance levels. Anyone recomment a good book or tutorial to learn s/r in deeper sense?

No Excuse to Not Know S&R!

Why do you think "Levels" is part of the Control Panel? I suggest instead of studying books on S&R you study the indicators you have been provided with, and the charts themselves! Look at any pair, any suitable TF, and you will see how PA moves between the Levels. Yes, there are sometimes other "displaced" centers of consolidation or price levels at which price has in the past bounced from in both directions at one time or another, and all of these are easy to spot if you take the time to study the charts. No book is going to tell you where S&R now is on any pair. That you have to spot for yourself.

But, if you must read elsewhere, go to http://www.babypips.com/ which is an excellent site for you to find competent answers to basic questions.

Just to make my point about Levels, look at the attached pic. See the boxed consolidation area? Approximately what is the center of it? Exactly! A whole number! And when the price was sold off, where did it sell off to? Exactly! Another whole number! And when the MMs pulled the price back up to resume shorting, where did they pull it up to? Exactly! A half number! And then they sold off to where? The whole number again! And when they then pulled the price back up to resume shorting for a second time, where did they pull it up to? Exactly! The upper whole number which was the center of that previous consolidation! Even notice how many times the quarter Levels were hit!

Remember, S&R are areas and not exact price levels. When prices are made to move to another S&R area, they will tend most of the time to overshoot or undershoot any exacting price target. Many times traders miss their target because they were greedy and price failed to reach it, sometimes by falling short just a pip or so. Concentrate on S&R being areas and you will never be disappointed. Also, with PVSRA, we do not have to be exacting; not with entries nor exits.

It really isn't that hard to pick out S&R levels if you just use your eyes to see, and your brain to think! Really, if you have trouble grasping this, if you expect things to be any easier than this is, then you'd better get out of trading altogether.

TAH buddy, when have you started building positions on EJ an UJ?

Mid Nov 2012 for EJ. I have no open positions for UJ. Maybe you meant AJ, which I started June 17, 2013 or GJ, which I started June 19, 2013. These are the only open trades I have now.

You still haven't closed SHORT on EJ? Why?

Early entries were much lower than now. Average is still below current price. I posted chart on this not too long ago, so you can hunt back if you are more interested.

I see, well I was heavily building Short on UJ and EJ for few days, what do you think?

Master TAH, greetings from Russia!
I was reading this thread for some weeks. The only question is: while analyzing MM's behaviour mostly on 1M, do you consider upper TF trend?
I try to trade using 1M PVSRA considering trend from 4H and I use the same tools (Dragon+Trend) to determine the trend at 4H: the price is above Trend&Dragon = UP trend, the price is below Trend&Dragon = down trend.
Am I right? Is it right way to determine the upper TF trend?

Regards

Weekender...

Off topic but analysis of oil traders market manipulation...

http://www.bbc.co.uk/iplayer/episode...Petrol_Prices/

Interesting again is the importance of the last minutes prior to market close...

Whah!!! Since November?! Were you building short positions since November?! I hope I understood that correctly.

I've also been looking into this a lot lately studying charts by drawing horizontal lines on the higher time frames, like the Daily and H4, sometimes even weekly or monthly. I normally look for entries on the M15 or H1. I've found that all those horizontal lines almost always coincide with whole number or half number price levels when I go down to the M15 or H1. Even when I draw s&r levels within the 15M TF or H1, my s&r lines correlate with those price levels. I've read some comments here on FF from more experienced traders who've said whole/half price levels is all the s&r they use. Now all I use is a clean chart and the only horizontal lines are on the whole and half numbers.

hmm...

Hmm...are the levels color coded to represent if its whole number or half number support and resistance levels? If so what does each color represent ?

-rxJano

OLd SKool




Sonic

If you really don't understand the meaning of colored levels, here is an example.

EDITED - to comply with "no picture, no post" rule.

Gotta ask yourself where is price coming from ? In this case it comes from daily demand, and where does it

want to go ? It want´s to go to daily supply - which also happens to be a big engulfing candle. This is the first

place I would start to look for short entries and fire one bullet.

Anyway price gave some nice clues earlier on that it was going to go up ie the quasimodo pattern, which

is a pattern designed to screw traders in both directions creating liquidity for the mm´s.

This pattern normally occurs around sr areas or around a flag where price is consolidating.

Regards,

H.

Brilliant! Big bang in London and Canary Wharf had to come.

TAH
I am trying to understand..
Could you please elaborate Why USDCAD bull?
you already answered to me but I need more in details, thank you again.

Go right ahead and do it....I double dog dare you!