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Sonic R. System

  • #55,721
  • Aug 8, 2013 9:55am Aug 8, 2013 9:55am
Hello guys,

TP hit in AU during sleeping time. Banked 1500 pips

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  • #55,722
  • Aug 8, 2013 10:03am Aug 8, 2013 10:03am
Quoting loeil
{quote} EU Short Trade: Added short #24 Once again MMs pumped the price up on high volume. Still looking for better shorts. Seems like MMs are waiting EU or USD high impact releases of the next week, until then pumping the price as high as possible.
Agreed and given the current weakness of the US Dollar and the fact that the news releases do not start until Tuesday morning, there is plenty of time for GbpUsd to hit its next upside levels of 1.5400 or even its June high at 1.5740......

Technically, € only has its June high of 1.3415 before its years high at 1.3710 - although the latter would seem to be out of reach before the news releases.......
Trading Levels with WRBs
  • #55,723
  • Aug 8, 2013 10:04am Aug 8, 2013 10:04am
To find the turning points in the PA suggest a Fibonacci envelope.

p.s. Sorry , the Google translation. Do not speak English.
  • #55,724
  • Edited 10:52am Aug 8, 2013 10:12am | Edited 10:52am
Market Comment:

Some key players still have a ways to go before reaching their RWH marks, or their RDH marks if they are already thru RWH (and the reverse, of course). And this is only Thursday.....

Stalling out the prices today might cause some to fold and take profits,.... liquidity for the MMs to add near the end of a drive, but before another (and maybe final) drive to wipe out weak hands, where the MMs themselves close into the folding of others, and then reverse.

Look at AU for an example. That was a heck of a lot of position building going on when the Asian session MMs wacked the price, sucked in shorts and stopped out longs, as they themselves built long! Do you think that was all just to make another 100 or so pips (on the average)? Maybe, but the "MM's Greed Factor" says otherwise.

A suspenseful week's conclusion?
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  • #55,725
  • Aug 8, 2013 10:38am Aug 8, 2013 10:38am
Quoting Islander
{quote} Agreed and given the current weakness of the US Dollar and the fact that the news releases do not start until Tuesday morning, there is plenty of time for GbpUsd to hit its next upside levels of 1.5400 or even its June high at 1.5740...... Technically, € only has its June high of 1.3415 before its years high at 1.3710 - although the latter would seem to be out of reach before the news releases.......
Agree, but now when we already know they are bears, we cannot never know when they start to run for profits. Or do we? It can be happen today, maybe monday, maybe tuesday - never know. What we can do is add shorts like them and just waiting for the right run.
Whatever is obvious is obviously wrong!"
  • #55,726
  • Aug 8, 2013 10:53am Aug 8, 2013 10:53am
i think that the fall of currencies against USD is about to start
see these resistances which are very near
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  • #55,727
  • Aug 8, 2013 11:05am Aug 8, 2013 11:05am
Quoting smarteng99
i think that the fall of currencies against USD is about to start see these resistances which is very near {image} {image} {image} {image}

Yep, your chart analysis is correct, thanks.

BUT that is not relevant, also round number or anything else is relevant. IF the MM's are aiming for higher prices they will do it and you don't know when they stop, in particular the big amount of stops above the resistance numbers in your charts will attract the MM's for driving the price further. So the conclusion can only be, forget about Head and Shoulders, Resistance and Support, and anything else. Go with the MM's if you can and embrace the drawdown (easy if trading demo), but I am sure most retail traders can not do it long enough despite of trading smallest lot sizes.
  • #55,728
  • Aug 8, 2013 11:15am Aug 8, 2013 11:15am
EU: Added short EP37.

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insanity: Doing the same thing over... and expecting different results -AE
  • #55,729
  • Aug 8, 2013 11:21am Aug 8, 2013 11:21am
Quoting loeil
{quote} EU Short Trade: Added short #24 Once again MMs pumped the price up on high volume. Still looking for better shorts. Seems like MMs are waiting EU or USD high impact releases of the next week, until then pumping the price as high as possible. {image} {image}
Quoting ivonivon
{quote} nice position building! this is how trading should be. +1
Open Invitation!

Sonicers,

This PM just received from Loeil.....

"TAH, soon as I close my EU trade I plan on a Caribbean Cruise, all expenses paid for all Sonicers! Included in this Premium Package cruise, will be a quick jaunt to a shanty town in Granada, where the latest MM's symposium is scheduled. Reports are that their headline topic is "How to beat Sonicers". We are not absolutely sure the symposium will be held, as contacts at the Granada Grimy Motel & Conference Center say the MM's still have not completed the down payment required to hold the premise for their event, and Fire Marshals have scheduled destruction of the premises for later this month."

-tah
  • #55,730
  • Aug 8, 2013 11:29am Aug 8, 2013 11:29am
A note on my DD:

I've been in this exact position before with my GJ trade (which turned out to be my most profitable). I was down up to 15% DD. And at the time I was trading lighter. Thanks to entering late, I've been able to leverage off of better positioning, while having more scouts. In addition, my current DD on EU is -14%, with an overal DD of -4.2% if you consider what I started with. so I'm also leveraging on a buffer of profits from previous trades (about 10%, which was made from PVSRA even though with many mistakes).

It's never easy in these hard times. But I was committed since that first trade. The only thing I can do from there is better positioning. I must admit, this pair, I have condensed my trades a bit much. And as a result, only trading this one (aside from a single scout in AU). That's how we become dynamic. If we get near margin call, what do we do? We don't have to close it all. We can always close part of it, to free up room.

Right now, I stand firm as the signals are still clear as day.
insanity: Doing the same thing over... and expecting different results -AE
  • #55,731
  • Aug 8, 2013 11:31am Aug 8, 2013 11:31am
Quoting traderathome
{quote} {quote} Open Invitation! Sonicers, This PM just received from Loeil..... "TAH, soon as I close my EU trade I plan on a Caribbean Cruise, all expenses paid for all Sonicers! Included in this Premium Package cruise, will be a quick jaunt to a shanty town in Granada, where the latest MM's symposium is scheduled. Reports are that their headline topic is "How to beat Sonicers". We are not absolutely sure the symposium will be held, as contacts at the Granada Grimy Motel & Conference Center say the MM's still have not completed the down payment...
I'm in!
insanity: Doing the same thing over... and expecting different results -AE
  • #55,732
  • Aug 8, 2013 11:50am Aug 8, 2013 11:50am
Quoting Adis
Is there somebody who added AUDUSD shorts ?
Picture? Purpose of question?
  • #55,733
  • Aug 8, 2013 11:52am Aug 8, 2013 11:52am
Quoting smarteng99
i think that the fall of currencies against USD is about to start see these resistances which are very near {image} {image} {image} {image}

Your charts only show midterm resistance which is likely to get broken.

Wait for confirmation that it might want to go lower ie two LL and wait to see what it does at the last SR area before entering.

H.
"The future is already written in the past"
  • #55,734
  • Aug 8, 2013 11:58am Aug 8, 2013 11:58am
Quoting hansma
{quote} Your charts only show midterm resistance which is likely to get broken. Wait for confirmation that it might want to go lower ie two LL and wait to see what it does at the last SR area before entering. H.
Hansma,

Good advice, but both Day and H4 charts are shown. Waiting for LL (or HH) and a view of PA at last SR is good advice, but not on the Day chart because too much of moves would be forfeit by waiting. So, exactly what TF chart are you suggesting be used?

-tah
  • #55,735
  • Aug 8, 2013 12:02pm Aug 8, 2013 12:02pm
Descided to close my AU trades ahead of target - price seems to be stalling. Booking profits.

H.
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"The future is already written in the past"
  • #55,736
  • Aug 8, 2013 12:07pm Aug 8, 2013 12:07pm
PVSRA Displays

I just saw something happen and figured this was a good example to remind Sonicers of.

My volume alert for UChf on H4 triggered, showing a red candle with tall body and lower wick. I jumped down to M1 to see what was going on. I found on M1 that a relatively tall green bar had just occurred.

The point is this, when looking at higher TF bars of notable activity, we cannot know at what price within the price range of the bar the most activity is taking place. In this case, the higher TF bar was a bear bar striking low, below a 3/4 SR (a PVSRA bull indicator), and PVSRA is correct as confirmed by what happened on M1, namely that the MMs were now clearly buying in the area below the whole SR.

-tah
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  • #55,737
  • Aug 8, 2013 12:11pm Aug 8, 2013 12:11pm
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  • #55,738
  • Aug 8, 2013 12:16pm Aug 8, 2013 12:16pm
AU Comment:

The week is not over....
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  • #55,739
  • Aug 8, 2013 12:18pm Aug 8, 2013 12:18pm
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File Type: tpl env.tpl   4 KB | 265 downloads
This is my Fibo envelope. It may be useful to someone.This is my Fibo envelope. It may be useful to someone.
  • #55,740
  • Aug 8, 2013 12:27pm Aug 8, 2013 12:27pm
Quoting traderathome
PVSRA Displays I just saw something happen and figured this was a good example to remind Sonicers of. My volume alert for UChf on H4 triggered, showing a red candle with tall body and lower wick. I jumped down to M1 to see what was going on. I found on M1 that a relatively tall green bar had just occurred. The point is this, when looking at higher TF bars of notable activity, we cannot know at what price within the price range of the bar the most activity is taking place. In this case, the higher TF bar was a bear bar striking...
Yes it's possible.

Example
AUSUSD high activity at exactly 91.90

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