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Sonic R. System

  • #53,741
  • Jul 16, 2013 6:52am Jul 16, 2013 6:52am
What is this purple candle ? I am scared about bearish trend now. Could somebody give a opinion ? My sells are on DEMO, I am using other broker so i have demo MetaTrader for templates etc.
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  • #53,742
  • Jul 16, 2013 7:18am Jul 16, 2013 7:18am
Quoting Adis
What is this purple candle ? I am scared about bearish trend now. Could somebody give a opinion ? My sells are on DEMO, I am using other broker so i have demo MetaTrader for templates etc. {image}
I see price being pumped above the upper 3/4 SR (0.92275) up to 4 to 5 times followed by increased trading above the level. PVSRA = bears
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  • #53,743
  • Jul 16, 2013 7:19am Jul 16, 2013 7:19am
Quoting Adis
What is this purple candle ? I am scared about bearish trend now. Could somebody give a opinion ? My sells are on DEMO, I am using other broker so i have demo MetaTrader for templates etc. {image}
I am just a new like You....but I believe that " purple " is more bearish sign..but I am just learning as well.
Your sign looks like Banik Ostrava symbol. Anyway.
  • #53,744
  • Jul 16, 2013 7:20am Jul 16, 2013 7:20am
Also there are news very soon....
  • #53,745
  • Jul 16, 2013 7:37am Jul 16, 2013 7:37am
prof TAH, I sent a private message!
  • #53,746
  • Jul 16, 2013 7:49am Jul 16, 2013 7:49am
What a moves....
  • #53,747
  • Jul 16, 2013 7:57am Jul 16, 2013 7:57am
Quoting mtrader123
{quote} Hello Sir, where can I learn more about your style of trading? Would you please give me a hint? Thank you a lot.
If you move your cursor over a persons name it will bring up his number of posts - in my case, 6,859. Click on this to bring up a list of these posts and go back say 3 months, read my posts and look at the charts I have posted and you should find sufficient information - if not, then ask again with a more specific question.

Good luck

PS The simple answer is that I am trading in the direction of the dragons on the 1m, 5m & 15m charts
Trading Levels with WRBs
  • #53,748
  • Jul 16, 2013 8:00am Jul 16, 2013 8:00am
Mr. Islander could you tell us your point of view on AU please. Lot of poeple wrote about that today, but i never saw this waves.
  • #53,749
  • Edited 9:01am Jul 16, 2013 8:28am | Edited 9:01am
Quoting Adis
Mr. Islander could you tell us your point of view on AU please. Lot of poeple wrote about that today, but i never saw this waves.
If you read the previous post you can see how I am currently only trading the London Session. As most of the action in AU is during the Australasian Session, I rarely trade AU.

However, a quick look at the 60m & 4hr charts shows a retrace towards the 38% fibonacci level at 0.9252 or next up the 50% at 0.9304. Given today's positive news from the RBA minutes which suggested no early rate cut and also the removal of the Carbon Tax I would expect one or both these levels to get hit soon....just an opinion - not a trade recommendation! Trade what your system and your trading rules tell you in the Time Frame that you are trading.

Simply put, a 38% retrace is a weak retrace, the 50% a normal retrace and the 61.8% a strong retrace.....this area forms the Decision Zone where the majority of retraces become just that a retracement OR blow straight through and start a new move

PS watch what happens at the 0.9200 level
Trading Levels with WRBs
  • #53,750
  • Jul 16, 2013 9:11am Jul 16, 2013 9:11am
Ej short.

Regards,

H.
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"The future is already written in the past"
  • #53,751
  • Jul 16, 2013 9:51am Jul 16, 2013 9:51am
Captain islander please upload your template I will like to learn your trading style its very interesting.
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
  • #53,752
  • Jul 16, 2013 10:05am Jul 16, 2013 10:05am
Still waiting the release of the improved trade level ea I want to code in a function of automatically setting invincible pending orders of 100 pips(adjustable) from first entry as my little contribution to the great efforts of sonic tah steve to this thread
Know News/time; WAIT for Edge Entries, MPLC Normalization, Exits & TP's..
  • #53,753
  • Edited 11:43am Jul 16, 2013 11:01am | Edited 11:43am
Quoting traderathome
{quote} AU Short Trade: added short #12 thru #14, Scouts. M1 PVSRA shows MMs pushing price up to whole number (eventually thru it) with high volume = bears. Adjusted TP. {image}
AU Short Trade: added short #15, Scout. M1 PVSRA shows MMs continue to favor the highs as they cycle price up/down above the whole number. Entry was made as MMs pushed price above 1/4 SR on increased volume = Bears. M15 is forming a Double Top now. Adjusted TP.
Edit: Added short #16 as MMs continue the push up, still increasing their trading as they go = Bears.
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  • #53,754
  • Jul 16, 2013 11:05am Jul 16, 2013 11:05am
Quoting traderathome
{quote} UJ Short Trade: Added short #2, Classic, though before LS. M1 PVSRA shows MMs stopped the drop and began pushing price back towards the 3/4 SR = bears. The bear MMs are simply pushing price back up a bit occasionally so the drop is not too far, too fast. This lets them sucker in longs and get more shorts for themselves. Adjusted TP. This might be an established range, now. And price could swing back up within it into the opening of the LS. If price does swing back up more (low 90s), I plan to add again, and again if the MMs hike the price...
UJ Short Trade: Added short #3, Scout pending order that executed while I slept. Adjusted TP.
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  • #53,755
  • Jul 16, 2013 11:12am Jul 16, 2013 11:12am
Quoting princefred
Captain islander please upload your template I will like to learn your trading style its very interesting.
Please follow my suggestions in post # 53,749 - thanks
Trading Levels with WRBs
  • #53,756
  • Jul 16, 2013 11:22am Jul 16, 2013 11:22am
Quoting traderathome
CHFJPY Short Trade: Entered short #1, Scout. M1 PVSRA shows London Open MMs pushed up price on increased volume = Bears. No SL, no TP at this time. {image}
CHFJPY Short Trade: Added shorts #2 and #3, Scouts. Basically, the YEN pairs are bearish and the MMs are setting up for a run for profits, maybe this week. Set TP.
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  • #53,757
  • Jul 16, 2013 11:25am Jul 16, 2013 11:25am
Quoting traderathome
{quote} EU Short Trade: Added shorts #6 thru #8. Scouts. M1 PVSRA shows MMs pushed price up to/thru whole SR on extremely high volume, indicating extreme bears seeking higher prices to add lots of shorts! Adjusted TP. {image}
EU Short Trade: Added shorts #9 and #10. Scouts. Adjusted TP.
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  • #53,758
  • Jul 16, 2013 11:39am Jul 16, 2013 11:39am
Quoting traderathome
{quote} CHFJPY Short Trade: Added shorts #2 and #3, Scouts. Basically, the YEN pairs are bearish and the MMs are setting up for a run for profits, maybe this week. Set TP. {image}
tah, please be careful about the yen pairs. If Abe sweeps this election like they think he will we could see another 1000, or in Sonic parlance 10000 pip move. I think they want to take the Yen to 137. That is a 70000 pip move against you.

Just be careful, my friend.
If you are good at something, never do it for free--Joker
  • #53,759
  • Edited 12:00pm Jul 16, 2013 11:48am | Edited 12:00pm
Quoting jmn5611
{quote} tah, please be careful about the yen pairs. If Abe sweeps this election like they think he will we could see another 1000, or in Sonic parlance 10000 pip move. I think they want to take the Yen to 137. That is a 70000 pip move against you. Just be careful, my friend.
Joe,

Thanks.

Still, PVSRA shows MMs are bears across the board of YEN pairs (GJ example attached). You know the drill...... The MMs might or might not make their first big move according to whatever "intellingent logic" prevails. It could be an event the MMs respond to by tanking the YEN pairs just so they can be building longs at lower and lower prices as they tank price (bear run for profits), preparing for an eventual bull move to go with the "logic", .....big down to trap and wipe out expecting longs, and then an even bigger move back up as they run the YEN pairs back up to current prices, and beyond (bull run for profits).

Why start prices moving in the "logical" direction when you can do otherwise and eventually make twice the money?,.... or even a lot more!
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  • #53,760
  • Jul 16, 2013 11:50am Jul 16, 2013 11:50am
Question to prof TAH

Does this seems like the typical dump after LC? Because for me that is exactly what I see. Same in EU and AU. I will keep building my EU shorts and my UJ longs (even more sure after this pump). And I started to build AU short as well. Am I missing something? Because for me it's the typical bull pattern.
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