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Sonic R. System

  • #70,641
  • May 6, 2014 9:06am May 6, 2014 9:06am
GBP/JPY Classic Short. notice h4 pinbars formed double top, High Volume. Strong Resistance at blue line.
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  • #70,642
  • Edited 11:23am May 6, 2014 10:18am | Edited 11:23am
Love it when analysis pays off,

H.
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"The future is already written in the past"
  • #70,643
  • Edited 10:56am May 6, 2014 10:36am | Edited 10:56am
GBPJPY, another lesson in patience for me as a short term trader. Closed 1st short to soon with a -1.6 net pips loss. It's not the pips lost but the lesson in patience for me. Feinan made a good analysis and short call!

Regards,
Cigarguy
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Keep It Simple
  • #70,644
  • May 6, 2014 10:44am May 6, 2014 10:44am
hansma, i donot know your analysis, but i think you are professional trader. i rarely see your post in topic.
  • #70,645
  • May 6, 2014 10:48am May 6, 2014 10:48am
Quoting smallshark
hansma, i donot know your analysis, but i think you are professional trader. i rarely see your post in topic.
The analysis is simply where the decission is made on price for it to go up or down - these points in my chart shown as FTR and source of upmove
are very likely to be tested again.

Hope this helps.

H
"The future is already written in the past"
  • #70,646
  • May 6, 2014 10:52am May 6, 2014 10:52am
yes, i am understand

when price faluire retest FTR , you close buy order. and open sell order.?

but timeframe is used H4 or D1
  • #70,647
  • May 6, 2014 11:00am May 6, 2014 11:00am
Getting into it
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Build your own dreams, or someone else will hire you to build theirs.
  • #70,648
  • May 6, 2014 11:11am May 6, 2014 11:11am
Quoting dvarrin
I've seen that many traders here are using supply/demand zones on their charts. They can be used to determine profit target or stoploss for example. As Sam Seiden explains on FXStreet, demand zones are defined by a drop-base-rally or a rally-base-rally price pattern, and supply zones are defined by a rally-base-drop or drop-base-drop price pattern...
Here is an example of a bearish Classic Setup that did not result in a down move. We can se that the supply zone was not tested and although there was a pullback to the dragon and then a lower low, price did not continue downwards.
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  • #70,649
  • May 6, 2014 11:45am May 6, 2014 11:45am
Quoting dvarrin
{quote} Here is an example of a bearish Classic Setup that did not result in a down move. We can se that the supply zone was not tested and although there was a pullback to the dragon and then a lower low, price did not continue downwards. {image}
must touch the dragon for valid classic setup?
  • #70,650
  • Edited 12:25pm May 6, 2014 11:52am | Edited 12:25pm
Quoting bolehbah69
{quote} must touch the dragon for valid classic setup?
No, but I prefer the entry not to be too much further away from the dragon. And I prefer if the pullback is touching the dragon. But perhaps I'm wrong and you should read post #1 and all the attachements to learn it correctly.
  • #70,651
  • May 6, 2014 11:58am May 6, 2014 11:58am
GBPJPY.-
It may be interesting to watch the movements M1
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Check your emotions. How are you?
  • #70,652
  • May 6, 2014 12:01pm May 6, 2014 12:01pm
Quoting cigarguy
EURUSD, IMO a good clue was provided (not a classic but); long wick with high volume on the red candle followed by next small red candle with smaller volume then stopping volume and finally higher volume on green up bar and up she went all taking place under the whole number 1.39000, and of course dragon above the ema headed up! {image}

Nice
  • #70,653
  • May 6, 2014 1:18pm May 6, 2014 1:18pm
Quoting dvarrin
{quote} Here is an example of a bearish Classic Setup that did not result in a down move. We can se that the supply zone was not tested and although there was a pullback to the dragon and then a lower low, price did not continue downwards. {image}
Dvarrin - I would have read the chart the other way/ This is because there was a lot of volume at the bottom of the down move candles and I would have adjudged MM to be bull. I am still learning, maybe. And thanks for the examples
  • #70,654
  • May 6, 2014 1:46pm May 6, 2014 1:46pm
Quoting wizz2014
{quote} Dvarrin - I would have read the chart the other way/ This is because there was a lot of volume at the bottom of the down move candles and I would have adjudged MM to be bull. I am still learning, maybe. And thanks for the examples
You're right There was too much volume on that green bar! PVRSA is really a beautiful tool to analyse the charts :-)
  • #70,655
  • May 6, 2014 2:33pm May 6, 2014 2:33pm
Quoting TaDaDa
{quote} Hi Loeil, I had been puzzling over something for a while now and hope that you can clear some light. How do you differentiate a push down by short vs a accumulation by bulls. I am asking this question because I would think MMs are longs. And on the flipside if we are wrong, the PA can be read as bearish as a push down and then continuation ... How do I clear my head of the doubts and get a clear idea whether MMs are long or short. {image}
Hi TaDaDa, did Loeil get back to you on your questions? I am interested in the answers too!
  • #70,656
  • May 6, 2014 2:41pm May 6, 2014 2:41pm
I am watching this (and EYRUSD) for a good LO classic set up.
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  • #70,657
  • May 6, 2014 3:20pm May 6, 2014 3:20pm
Quoting Repsaj
NZDUSD short {image}
NZDUSD.-
A good example of the lack of discipline in this business. I took short and placed a stoploss, but not respected. The consequences, -150 pips. Although I guess the price will fall, fear and fatigue make me close my trades with losses.
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Check your emotions. How are you?
  • #70,658
  • May 6, 2014 3:35pm May 6, 2014 3:35pm
Quoting Repsaj
{quote} NZDUSD.- A good example of the lack of discipline in this business. I took short and placed a stoploss, but not respected. The consequences, -150 pips. Although I guess the price will fall, fear and fatigue make me close my trades with losses. {image} {image}

you entered a short on a classic long. then added more as you were in the red. it wasn't a matter of not being disciplined, it was a matter of not entering properly into this trade
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  • #70,659
  • Edited 4:13pm May 6, 2014 3:48pm | Edited 4:13pm
Quoting allisonmagic
{quote} you entered a short on a classic long. then added more as you were in the red. it wasn't a matter of not being disciplined, it was a matter of not entering properly into this trade {image}
If you take a pin that is not confirmed, because it seems very powerful: we must respect the stoploss. The problem was not respecting the stoploss. The problem is lack of discipline.

The other entries are like as you say, allisonmagic.
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Check your emotions. How are you?
  • #70,660
  • May 6, 2014 3:49pm May 6, 2014 3:49pm
Quoting Repsaj
{quote} NZDUSD.- A good example of the lack of discipline in this business. I took short and placed a stoploss, but not respected. The consequences, -150 pips. Although I guess the price will fall, fear and fatigue make me close my trades with losses. {image} {image}
I am new but one thing I am coming to terms with is - do not trade against the dragon unless you are very sure that the trend will reverse or you have a big bank.

For me, there are still some bulls in the background, although not as strong as earlier today
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