Sonic R. System

EU - if I could be MM, I would look at 1.3900 area. I'm sure that there are lot of stop losses set and lot of pending orders also.

Marked interesting yellow area on chart, look at the volume when price came down and look at the volume at yesterdays high. Volume is higher at low.

I am bullish on EURUSD, but still do not know very well (H4 chart).

In trading, if you are good, you could be considered a sniper. One who enters very good positions at extreme points likely to reverse with very high reward to risk ratio. Your positions are very close to the reversal point. Of course we really don't know where that is, but... with support and resistance we can make a best guess. Like a sniper who uses the first shots to calibrate the preceding, our "scouts" is used to gauge how well we are doing. If price goes against us, we know we've missed so we wait for a better opportunity and enter again, now making your position "better." This could be seen as adding to a losing position. But if you manage your money right, you can do this safely for 100, 200, or even 300 pips against yourself. What you have is eventually a cumulative position that is your "best guess" at pinpointing the reversal. Would you have entered all of what you wanted to risk (like a single trade), you would've missed... and thus require a stop loss to prevent your error, or die quickly. With cumulative positioning, once price does roll back around, you will have the opportunity to get out at break even if you think you were really wrong, or with great profit proportional to the number of "scouts" it took for you to find the reversal point. Once you get better, you will require less scouts to nail the reversal, and in essence also reduce your potential profit. It's a trade-off. My last trade took 2 scouts (entries) to find the reversal that gave me 50 pips on one, and 90 pips on the other. Of course, my second scout was bigger than my first, and thus, 3 scouts worth total. Averaging out, I was closer to the reversal due to my pseudo-martingale positioning. It's risky, but for me, it's just the right amount. Many would argue against this style, but you can better improve your chances by trading with the bigger trend in the grand scheme of things. All in all, scouts is no more than a very small expendable position used to find the reversal point. Trading this style requires patience and ability to wait. Trading the H4 is key imho. And this is my interpretation of a "scout." Happy trading.

-qFish

SP500: 6 scouts and 2 classics, maximum Risk 25%, microlots of 0.01. Building positions arround the Daily support area of 1813.10. TP arround RWH.

Thank you qFish! Now I understand :-)

Np brother.

UJ long re-load: Entered first long scout and mapped out future entries for both sides. Here you can see my previously closed trade also.

GJ: No entries. Here is my road map.

Are you going to renounce 100 pips?

GBPJPY
Probably Classic.. I think, not sure

Hi everybody

mayby classic short setup ?
any advice ?

Nice analysis,,

Watch the dragon slope and higher timeframes.

Excuse me. Yes, it is a good entry for me.

Thanks Master.

EURUSD re-entery long.

GBPCHF 2 entry sell. Set Sl and TP

As always, we should wait for a Classic setup, and look to see if previous PVSRA supports the direction of the setup being formed. Yes, RWH is a 100 pips target for a bull swing. On the other hand, price has already retraced 62% and the upper whole number has so far resisted a break up.

The real questions, and we cannot know the answers, are: (1) Where are the big players placing sell orders right now? (2) If higher up, do the Market Makers see any chance of obtaining the liquidity - sucking in enough buyers up there - to fill those sell orders if they make a drive up?

Would you go long up there in order to help the MMs fill the short orders of big players? There might be sell orders up there, but if there is no liquidity available to fill them, the MMs won't likely waste time and money on a useless drive up the queue any further than where the pending buy orders for longs and pending stop orders on shorts peter out. And since they see what we cannot see, we have to wait to see.

I do not know if what I interpreted as a probable Classic it's just another side wave. If so, maybe another Low arises.

I agree with you. But I replaced the price by time. And after 26 hours of correction, I thought that the price could go directly from there. I can be wrong. We'll see.