{quote} Me tooAnd others who wants to read a bit. {image} {image} {image} {image} {image} {image}
Trade With PDF & Wisdom
- #62,644
- Nov 26, 2013 2:54am Nov 26, 2013 2:54am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #62,645
- Edited 3:16am Nov 26, 2013 3:01am | Edited 3:16am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Got my hands burnt overnight. SL hit @ 1252. I thought 1250 was a strong SR so I put my SL there. Where did I go wrong sonicers? {image}
Everybody else probably thought 1250 was a strong SR and put their SL just beyond, also. The broker and liquidity providing bank and market makers can see where the pending stop loss orders are. There were probably enough of them in that area for them to make sure when they hiked the price, they hiked it thru that area to trigger all those pending SL buy orders, so they could get more liquidity to add shorts of their own!
Setting a SL is akin to trying to predict the market. Worse, it is giving the market license to steal your money if they want it. 90+% of the time that I set a hard SL, it gets hit, which is why I usually don't set one at all. The point is, is the trade valid or not? If it is, make your SL very wide or make it mental.
Gold pricing is extremely manipulated. You couldn't pick a worse pair on which to try and outguess the market! The good niews is, your trade was valid! The MMs and the dirty rotten stinking greedy banks agree! Unfortunately, they control the pricing. So, they back peddled the price to add shorts of their own and now your shorts belong to them, with the juicy, higher prices they got them for.
-tah
- #62,647
- Edited 3:27am Nov 26, 2013 3:17am | Edited 3:27am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #62,649
- Edited 5:00am Nov 26, 2013 3:44am | Edited 5:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU Short Trade:
Entered #1, a Scout. This is an example of using a Scout when there has been a good run culminating in high volume, where the Scout is entered counter to the trend of that run. This is the highest risk use of the Scout. In this case, note that the market makers whisked the price up above the half number, which is probably where the dirty rotten stinking greedy banks put there sell-to-close-longs and their sell-to-open-shorts pending orders (PVSRA). 
Edit: Added #2 and #3, Scouts. About an hour later, after the start of a run down, the MMs whisked the price back up,....a presumed SL hunt on shorts and maybe another dirty rotten stinking greedy bank put some short orders up there for the market makers to go fill. Anyway, I added on the retrace and adjusted my TP a bit upwards. 
Entered #1, a Scout. This is an example of using a Scout when there has been a good run culminating in high volume, where the Scout is entered counter to the trend of that run. This is the highest risk use of the Scout. In this case, note that the market makers whisked the price up above the half number, which is probably where the dirty rotten stinking greedy banks put there sell-to-close-longs and their sell-to-open-shorts pending orders (PVSRA).
Edit: Added #2 and #3, Scouts. About an hour later, after the start of a run down, the MMs whisked the price back up,....a presumed SL hunt on shorts and maybe another dirty rotten stinking greedy bank put some short orders up there for the market makers to go fill. Anyway, I added on the retrace and adjusted my TP a bit upwards.
- #62,650
- Nov 26, 2013 4:00am Nov 26, 2013 4:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
AU Short Trade Opened: This is trading the M1 chart. You can see market makers whipped the price to the upper whole number to fill large short orders there. Then the price cycled down in good Sonic R. fashion, presenting an M1 Classic and then an M1 re-entry opportunity. I waited for the bottom and then the retrace, shorting as the retrace hit the S&R areas created on the way down.{image} On the M15 this looks like it amounts to opening a trade with Scouts, prior to a Classic. It is, but there is that consideration that the MMs hiked price above...
I just closed this trade. The uninterrupted drop has been good, and has taken the price to previous support. Now, the LS MMs could start pushing the price back up and the so too the US open MMs, as they add more shorts.
This is just before the trade closed, when I adjusted the TP to close it near previous support.....
This is just after the trade closed. I had to readjust the TPs upwards to force the close.....
- #62,651
- Edited 5:04am Nov 26, 2013 4:23am | Edited 5:04am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Classic Short Setup With Supporting Scouts
GJ Short Trade:
Entered short #1, a Classic. This is a valid Sonic R. System Classic short trade setup. It is the LS, the Dragon is angled down and is below the Trend, which also is angled down, and PA is below both. The only question is, will the US MMs be looking to short at higher prices? If they move price up for shorting, I intend to insert a supporting Scout. This is a particularly good setup because it represents a price breakdown from the 164.00 whole number natural SR level. Yesterday thru today, the MMs have had both time and good prices to position themselves nicely with shorts for a bear run for profits. 
Edit: Added short #2, a supporting Scout. More might follow..... 
Edit: Added short #3, a supporting Scout. 
GJ Short Trade:
Entered short #1, a Classic. This is a valid Sonic R. System Classic short trade setup. It is the LS, the Dragon is angled down and is below the Trend, which also is angled down, and PA is below both. The only question is, will the US MMs be looking to short at higher prices? If they move price up for shorting, I intend to insert a supporting Scout. This is a particularly good setup because it represents a price breakdown from the 164.00 whole number natural SR level. Yesterday thru today, the MMs have had both time and good prices to position themselves nicely with shorts for a bear run for profits.
Edit: Added short #2, a supporting Scout. More might follow.....
Edit: Added short #3, a supporting Scout.
- #62,652
- Nov 26, 2013 4:45am Nov 26, 2013 4:45am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #62,653
- Nov 26, 2013 5:16am Nov 26, 2013 5:16am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #62,656
- Nov 26, 2013 5:35am Nov 26, 2013 5:35am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #62,660
- Nov 26, 2013 6:47am Nov 26, 2013 6:47am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
