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Sonic R. System

  • #65,961
  • Feb 20, 2014 10:48am Feb 20, 2014 10:48am
Quoting traderathome
USDCAD Short Trade Opened: Entered short #1, Scout. Price is back to highs, just below whole number. The MMs might push it up thru before starting back down, in which case I might add. I entered here just in case they don't go higher. {image}
USDCAD Short Trade Update:

Added short #2, Scout. MMs just pumped up the price above the whole number.....PVSRA, MMs prefer to build short above key S&R. And nothing trumps whole number Levels as key S&R, nothing! I also have a pending order for more, just in case they pump it higher.
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  • #65,962
  • Feb 20, 2014 10:57am Feb 20, 2014 10:57am
Quoting renofaith
Greetings Traders, I thought I knew all I needed on pivots. Are RDH and RDL based on the daily pivot? But more importantly, what is the R meaning? By the way, I was introduced to stacking a couple weeks ago. Awesome stress free trading in my opinion. I call it stacking anyway (multiple entries)- Happy Pips to all- Reno
Range Day High, Range Day Low, Range Week High, Range Week Low. Geez, look at the damn user inputs for the indicator. You can learn a lot that way! And ask a lot less of such questions!

-tah
  • #65,963
  • Feb 20, 2014 11:17am Feb 20, 2014 11:17am
Thx so much. Only 2994 pages left to read! I'm gonna get good at this stuff. I'll eliminate the mundane queries.
Happy Trading
Reno
  • #65,964
  • Feb 20, 2014 11:24am Feb 20, 2014 11:24am
Quoting MisterC
I just finished reading most of the materials and I was looking through historic prices for setups... I have a question..{image} Is this a correct trade setup that eventually didn't worked out, or it is wrong?? From what I see price made an impulsive move from H to L, retraced forming the LH and than started forming leg 3#. My sell would have been opened at the marked spot. So...did I identified the trade setup wrong or it simply didn't worked out??
Some corrections are very complex and is very difficult to determine the end. Waves B or 2 or 4 Elliot can might seem a pattern 1 2 3. To solve this problem we will use StopLoss and all the knowledge we have about the behavior of prices and the market.
Sonic R. System underestimates indicators, but in these cases become very useful (divergences for example). It is also important to know if we expect news, if the session market will change etc. ..
Before approving a classic pattern of Sonic, it is necessary to study wave, volumes, possible news, supports resistances, hour of day (session change).
Elliot waves are not the issue, but it should have a slight idea to prevent many scenarios as possible.
I hope I have helped you.
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Adaptarse es la clave
  • #65,965
  • Feb 20, 2014 11:34am Feb 20, 2014 11:34am
Quote
Some corrections are very complex and is very difficult to determine the end. Waves B or 2 or 4 Elliot can might seem a pattern 1 2 3. To solve this problem we will use StopLoss and all the knowledge we have about the behavior of prices and the market.
Sonic R. System underestimates indicators, but in these cases become very useful (divergences for example). It is also important to know if we expect news, if the session market will change etc. ..
Before approving a classic pattern of Sonic, it is necessary to study wave, volumes, possible news, supports resistances, hour of day (session change).
Elliot waves are not the issue, but it should have a slight idea to prevent many scenarios as possible.
I hope I have helped you.

Yeah, it's helpful...thanks for replying.

I know the theory behind EW pretty good but I never used it in practice, only the impulsive & corrective pattern. I will start looking for divergences and restudy the wave principle.
  • #65,966
  • Feb 20, 2014 11:44am Feb 20, 2014 11:44am
Quoting MisterC
{quote} Yeah, it's helpful...thanks for replying. I know the theory behind EW pretty good but I never used it in practice, only the impulsive & corrective pattern. I will start looking for divergences and restudy the wave principle.
Elliot wawe theory is not good for trading. Only use it for draw all possibles scenarios. Is my opinion.
Sonic R. System tries trading simplify as much as possible. You should look that way.


The divergences are not part of the Sonic system, but I do use them to try to locate the third or fifth waves.
Adaptarse es la clave
  • #65,967
  • Feb 20, 2014 11:49am Feb 20, 2014 11:49am
Quoting JRissa
UC Taking the rollecoaster down with two scouts {image}
UC
added two short scouts
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  • #65,968
  • Feb 20, 2014 12:08pm Feb 20, 2014 12:08pm
Quoting traderathome
{quote} UJ: With that long tail on the last candle, I do believe the MMs are bulls. Note that the candle made it all the way down to below the lower whole number....PVSRA! {image}
UJ follow up.

I noticed the same candle as you did professor, but I must say that I disagree with this one. Candle was newscandle and bigger picture shows bears to me. Notice all these long wicks on highvolume candles at highs and this run up to last S/R was both fast and with high volumes at highs. Seems like bump and dump on the way.

We'll see, but I'm bearish for now.
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  • #65,969
  • Feb 20, 2014 12:23pm Feb 20, 2014 12:23pm
Quoting JRissa
{quote} UJ follow up. I noticed the same candle as you did professor, but I must say that I disagree with this one. Candle was newscandle and bigger picture shows bears to me. Notice all these long wicks on highvolume candles at highs and this run up to last S/R was both fast and with high volumes at highs. Seems like bump and dump on the way. We'll see, but I'm bearish for now. {image}
Is not that a bullish scout?
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Adaptarse es la clave
  • #65,970
  • Feb 20, 2014 12:26pm Feb 20, 2014 12:26pm
UJ 1hr looks like a lot of resistance at area marked to me !!
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Keep It Simple
  • #65,971
  • Feb 20, 2014 12:50pm Feb 20, 2014 12:50pm
UJ - bullish to me. Lot of buying in the background on H4. I don't have trades there but just my view of yen at the moment.
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Whatever is obvious is obviously wrong!"
  • #65,972
  • Feb 20, 2014 12:58pm Feb 20, 2014 12:58pm
Quoting loeil
UJ - bullish to me. Lot of buying in the background on H4. I don't have trades there but just my view of yen at the moment. {image}
Loeil,

Thanks needed to see higher t/f
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Click to Enlarge Name: ScreenHunter_136 Feb. 20 11.56.jpg Size: 243 KB
Keep It Simple
  • #65,973
  • Feb 20, 2014 1:06pm Feb 20, 2014 1:06pm
Quoting MisterC
I just finished reading most of the materials and I was looking through historic prices for setups... I have a question..{image} Is this a correct trade setup that eventually didn't worked out, or it is wrong?? From what I see price made an impulsive move from H to L, retraced forming the LH and than started forming leg 3#. My sell would have been opened at the marked spot. So...did I identified the trade setup wrong or it simply didn't worked out??
Your marked entry area is considered as scout.

Classic Sonic R entry is few pips past wave leg 1

I marked the classic entry spot on your chart for you
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  • #65,974
  • Feb 20, 2014 1:06pm Feb 20, 2014 1:06pm
Quoting JRissa
{quote} UJ follow up. I noticed the same candle as you did professor, but I must say that I disagree with this one. Candle was newscandle and bigger picture shows bears to me. Notice all these long wicks on highvolume candles at highs and this run up to last S/R was both fast and with high volumes at highs. Seems like bump and dump on the way. We'll see, but I'm bearish for now. {image}

im bearish for a short term short... overall im long though.... i agree with both of you
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  • #65,975
  • Feb 20, 2014 1:45pm Feb 20, 2014 1:45pm
Quoting eaymon
{quote} im bearish for a short term short... overall im long though.... i agree with both of you
And most of the time both ways are correct...
Question is, which one is right first
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  • #65,976
  • Feb 20, 2014 2:03pm Feb 20, 2014 2:03pm
GU
Scout long entered.

Buy limit at recent swing low.

Target TP area somewhere RWH area. Will close earlier if see signs of change.
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  • #65,977
  • Feb 20, 2014 2:49pm Feb 20, 2014 2:49pm
Quoting traderathome
{quote} The Market Truth Sonicers, And also to those that come here with opinions about us, but having no experience with us....... .......you have just read the MARKET TRUTH from a trader that can only be called THE BEST DAMN MARKET MAKER MAULER AROUND! -tah
Tah

It is clear that Loeil has established a winning strategy that suits his style of trading and all the best to him and the future.

I do however think your comment of "The Best Damn Market Maker Mauler Around" is really out of context.

Are you implying that anyone on this forum who trades between 1 or 2 standard lots and is successful should also receive the same accolade.

Loeil has clearly indicated that he traded 36 x 0.03 = 1.08 slightly > 1 standard lot.

You will find in the majority of Loeil's winning trades when combined this equates to between 1 or 2 standard lots.

I really do not think the Market Makers would really have an issue with this.
  • #65,978
  • Feb 20, 2014 2:49pm Feb 20, 2014 2:49pm
Quoting JRissa
{quote} And most of the time both ways are correct... Question is, which one is right first {image}
my debate is which is easier, longer term and more profitable?
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  • #65,979
  • Feb 20, 2014 2:54pm Feb 20, 2014 2:54pm
GA
Long scout #1 entered
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  • #65,980
  • Feb 20, 2014 3:06pm Feb 20, 2014 3:06pm
AU
short scout #1
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