Sonic R. System

You're welcome. To keep in line with Sonic's charts, I've removed these from my posted charts as it also adds confusion. However, I'm still using them so thanks for your 272 pip idea. Here's another one - adapt the band to the volatility of the move in progress

I sold cable again at the London Open - at present its "leading" the € down.....

Closed all UJ trades with a great TP! GJ is still on air!

Again, Big Thanks TAH, Sonic and others for clear analysis and opinions!

A Word of Caution

At this moment there are two kinds of pairs, those that are moving uniformly according to trend (YEN pairs) and those not (AU, EU, GU, etc.). Let me remind of the wise words from Basber to not be so anxious to trade those just completing large runs. Give them time to settle out. What looks like a good entry might later today (after the US open), or tomorrow, look like a very poor entry. The YEN pairs (AJ, EJ and GJ) are more consistent, and maybe the better ones to focus on.

Edit: my target is the 50% retrace of the Benanke rally - also the **50 level .....unless the PA tells me to bank earlier....

moving uniformly?
I don't understand

EU, MMs Still Bulls?

I've been watching on M5, and a Bear Channel has developed (downwards PA to suck in shorts, put on by bull MMs to get liquidity for long orders). So, at this point there are conflicting signs. I want to see if notable volume comes in at some point in the pull back from the highs. If that happens, it is an indication the MMs are still bulls, maybe bulls that took some profits and are pulling the price back down before reloading long. Otherwise, the bears might have taken over. And if they have, eventually the bear MMs will push prices back up to reload shorts. There is no hurry, no rush, just calm patience.

After big moves, it is better to wait, be patient, and let things settle down. Wait for new, clear, non-conflicting PVSRA indications.

This is some nutty action. Sometimes it's best to do nothing at all. Support-Resistance is key right now (as always)

and it did - increasing volumes around the confluence of S&R levels.....so I've banked my daily quota BFN

I have take some profits from 1.29 area this morning. And for now i have totally recovered last account wipe.
For me some sort of longs building possible. TP will be cahnged

PVSRA, EU: Bulls or Bears?

M1 PVSRA now yields the answer.

EU Short Trade:

Entered short #1, Classic. M1 PVSRA shows MMs suddenly pushing price back up thru half SR on increased activity, indicating they are bears pushing prices higher to add shorts.

GU Short Trade:

Entered shorts #1 thru #3, Classic and then Scouts. M1 PVSRA shows MMs pushed price back up thru 3/4 SR on increased activity, indicating they are bears pushing prices higher to add shorts. Added Scout when they pushed price to upper whole number SR. Added the second Scout when the MMs mounted a second push up thru the whole SR. No SL, TP set.

USDCAD
SonicR Scout PVSRA: they may have more bears...
SonicR Classic: Possible re-entry

AJ:

Anybody see any reason to believe the MMs are bears?

Talk about friggin' "consolidation", there it is.....as much "business" as the bear MMs can accomplish without dropping the price below the half SR....not until they are ready!

This is hard to tell Prof Tah...

MMs are preventing prices to fall, so they can suck in more liquidity and continue building their position?

EU Market comment

After the crazy night, it's time to calm down the thing a little bit. Imho, markets overreacted a lot with Bernanke's speech, especially because he didn't say nothing unusual. Things are not as good for the dolar as it seems the last speech and they are not that bad now. Well, they are really bad because US is living in a bubble, but it will take time until it explodes.

However, market did what it has to do, but too fast. MMs pumped the price a lot and small traders followed them, having a sick momentum as you saw last hours. EU is showing the first bears signs as TAH mentioned a couple of posts above, but imho it's too soon to start shorting. For me, EU are bears and this mega pump is just that, a mega pump, but I want to see the price above 1.31-1.3125 to start shorting.

You can believe or not, but things are getting worse in world economy. This is a game about which economy will blow up first. My best candidate is the Euro, he will be the first one. I feel like this is the last train in the station if you wanna ride the EU big markdown. However, unless we have an unexpected event, that train will stay in the station for a while. Why? Germany elections are in September and they won't let the EU to go too low because that will hurt their exports before the elections. Merkel won't allow that. I still think that we will see the big hammer in EU later this year, and I don't discard to see the EU in 1.20-1.22 before the year ends.

From the technical point of view, we have 2 potential patterns forming. A SHS and a wedge. Both are huge and that could unleash the beast. However, now it's still speculation.

My plan? To try to scalp a couple of longs to grab a few pips and start shorting EU as soon as the price becomes more attractive for me.

Remember, this is just my point of view, I can be totally wrong.

Best, Tymedu.

I think its obvious pump and dump above 92 and 92.50.

BTW Tah,
mm on usd jpy are still bears, are you looking to short it when it moves higher?

Thanks

Maybe because of this.. this called how?

this is my very first trade using PVSRA with real accout.

account size $2000
every shot size $0.20/pips ($0.10/pips for 1k account for my money management)
total entry 9 (USDJPY 4, GBPUSD 4, EURUSD 1)

USDJPY 200*4 = 800 pips
GBPUSD 146*4 = 585 pips
EURUSD 362*1 =362 pips

total 1747 pips * $0.20/pips = about $350 gained

max drawdown 15%
total profit 17.5%

profit > drawdown, this is what i am always looking for

i could have more shots with smaller size with other pairs, but this is my first real trade with PVSRA and im happy with my result and its process.

next time i will try to improve my trade but now lets enjoy the harvest!

finally, thank you very very much sonicdeejay, tah, and other sonicers!!!!!

you totally rock!!!!!