we DONT know where price will go the next second so trust your indicator
- #53,582
- Jul 14, 2013 11:59pm Jul 14, 2013 11:59pm
- | Commercial User | Joined Oct 2012 | 3,968 Posts
AUD/USD could break out any moment now. from this 9105 level... GBP/AUD and EUR/AUD hopefully to get smashed 
- #53,583
- Jul 15, 2013 1:00am Jul 15, 2013 1:00am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} Hey, Islander. Would THIS, by any chance, be "a wide ranged marubozo" ? {image} (just joking....don't hurt me!)
- yup - its a small one, when a larger - volumed - one is in a S&R area we can use this make our kill as I'm talking about sniping, not shotgun trading 
Trading Levels with WRBs
- #53,584
- Edited 1:50am Jul 15, 2013 1:24am | Edited 1:50am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} I am affraid I do not know the other exits that are as affective as working with support/resistance (supply/demand) zones. All the others could be reduced to that ones. EDITED. Having read one more time your message... you mean the term of "exits" to be in figurative sense or in the real meaning (the exit upwards / downwards), do not you?
I agree. If you look back at my posts you will find that almost every exit - close of a trade - is at a S&R level using volume as a trigger and frequently the PA - via a candlestick pattern too. Here, the green zone is an older S&R level that is automatically updated via the indicator that I posted a few weeks ago - see the orange SR-8 notation that tells me the number of levels on this chart.
I have also mentioned additional "helpers" that can be used viz: adding outer bands to a dragon to high-light OB/OS;
market profile to show POV levels (volume peaks); Gann Angles to measure to velocity of a move and the Lucas sequence to use for swing timing. However, this thread is about clean Sonic charts, so that is what I post.
Edit: I would also add that as we have many S&R levels on our charts, volume helps show us which ones to ignore and which currently should be respected
Trading Levels with WRBs
- #53,585
- Jul 15, 2013 1:35am Jul 15, 2013 1:35am
- | Commercial User | Joined Oct 2012 | 3,968 Posts
EUR/AUD short scout EP1. EUR/AUD added position #2 and #3 {image} {image}
Closed positions.
TP 1.4351 on 3 EUR/AUD trades + 183 pips total.
Will look for a better re-entry here and on GBP/AUD- might not get it
- #53,587
- Jul 15, 2013 1:39am Jul 15, 2013 1:39am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #53,589
- Edited 2:46am Jul 15, 2013 2:06am | Edited 2:46am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #53,591
- Jul 15, 2013 3:09am Jul 15, 2013 3:09am
Hi Guys, I am new PVSRA user. Can you tell me please if is that Pump and dump and bearish trend ? {image}
Interesting question to be only your second post, it seems like you read everything quite well.
Regarding your scenario, I wouldn't call that a pump because pumps are normally more "violent" with strong movements. For me, that is more a normal retracement. If you pay attention to the volume, we are having higher volume at the tops in the last couple of swings, but nothing remarkable (normal for a Monday morning).
But as you know, PVSRA is more than volume, so when the volume (V) is not that clear, you have to take a look to the other 4. Drawing a simply fibo from the max to the min of the last drop, we can see the price did a retracement to the 50% zone, and now it seems like it's holding it. So, for now the bias remains bear imho. I would take more caution if price breaks the 61.8 area.
Remember, volume is important, but we also have the P, S, R and A
Best, Tymedu.
To fail is just an opportunity to learn
- #53,594
- Jul 15, 2013 4:12am Jul 15, 2013 4:12am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Classic sonic trade PVSRA shows MM are bear and main trend is down too and 1hr candle rejected from 34ema. Entered on 5 min chart when classic setup occurs and dragon also crosses trend {image} {image}
I'm guessing that the Frankfurt Open is at 3am on your charts as its just after FO that I show one of my classic entries as all three dragons rolled over down. I'm limiting myself to just € and UJ for this week - both have shown clear 1m swings off the 5m dragon with nice WRB triggers....
Trading Levels with WRBs
- #53,595
- Jul 15, 2013 4:47am Jul 15, 2013 4:47am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #53,596
- Jul 15, 2013 4:50am Jul 15, 2013 4:50am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #53,597
- Jul 15, 2013 4:53am Jul 15, 2013 4:53am
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