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Sonic R. System

  • #71,321
  • May 13, 2014 5:36am May 13, 2014 5:36am
EA - long.
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Whatever is obvious is obviously wrong!"
  • #71,322
  • May 13, 2014 5:48am May 13, 2014 5:48am
Quoting Jouker
{quote} I see here same situation as USD/CAD .. drop down, classic long setup, but too much demand, then high volume wave breakout under resistance. We will see what will happen {image}
I have been studying supply/demand support/resistance.. whatever you want to call it.

I want to clarify what is defined as important supply/demand zones because some are more important than others. A move can be seen to move from IMPORTANT levels of supply or demand when the move is very strong. True supply was formed which was marked by the 2nd arrow.

The first arrow you see that bears engulfed the previous two candles which showed their intention for lower prices.

Next arrow was a very strong move down.. we mark this area of supply.

The third arrow has shown that buyers have consumed the supply.. in turn creating a higher high. The move down following this consumption of supply is not strong at all..next supply area was at RDH which has now been rejected quite strongly.
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  • #71,323
  • May 13, 2014 5:54am May 13, 2014 5:54am
I'm out from GJ too with 78pips gain
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  • #71,324
  • May 13, 2014 5:55am May 13, 2014 5:55am
Quoting sherdog
I'm out from GJ too with 78pips gain {image}
good entry
  • #71,325
  • May 13, 2014 5:55am May 13, 2014 5:55am
Quoting loeil
{quote} GU - closed for 1342 pips gain Looks too bullish now and decided to close it. {image}

Grats!
  • #71,326
  • May 13, 2014 6:01am May 13, 2014 6:01am
Quoting Dyekid217
{quote} I have been studying supply/demand support/resistance.. whatever you want to call it. I want to clarify what is defined as important supply/demand zones because some are more important than others. A move can be seen to move from IMPORTANT levels of supply or demand when the move is very strong. True supply was formed which was marked by the 2nd arrow. The first arrow you see that bears engulfed the previous two candles which showed their intention for lower prices. Next arrow was a very strong move down.. we mark this area of supply. The...
I don't wish to burst your bubble, but you took your LEVELs off the chart. If you put them back on you will see their importance. Every, yes every, arrow indicated activity is related to a LEVEL.

Remember too, Supply and Demand are misleading. They rightfully should be called PAST Supply/Demand, because there is no reason to assume they will be such the next time price reaches them. When folks think in terms of S&R, they don't make the mistake of having that assumption.

When it comes down to effectiveness thru elegant simplicity, the use of LEVELs works well because, for psychological reasons or other reasons, LEVELs picks up the primary tops and bottom areas of all major bull or bear swings on every pair throughout all of history. Period.

But, I guess that is part of human nature - to take something that is simple and effective, and over-complicate it so that it is less so.
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  • #71,327
  • May 13, 2014 6:02am May 13, 2014 6:02am
USD/CAD

Long scout

Strong volume below big Number, Pin bar, Retrace level

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  • #71,328
  • May 13, 2014 6:07am May 13, 2014 6:07am
Quoting loeil
{quote} GU - closed for 1342 pips gain Looks too bullish now and decided to close it. {image}

The Sonic Rebel

Continuously showing that adding while "red" still profits.

Excellent work
  • #71,329
  • May 13, 2014 6:09am May 13, 2014 6:09am
Quoting loeil
EA - long. {image}
I turned 50pips gain into breakeven trade But I think like you. It still looks good beacuse of volume and I'm looking for entry again.
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  • #71,330
  • May 13, 2014 6:22am May 13, 2014 6:22am
Quoting traderathome
{quote} I don't wish to burst your bubble, but you took your LEVELs off the chart. If you put them back on you will see their importance. Every, yes every, arrow indicated activity is related to a LEVEL. Remember too, Supply and Demand are misleading. They rightfully should be called PAST Supply/Demand, because there is no reason to assume they will be such the next time price reaches them. When folks think in terms of S&R, they don't make the mistake of having that assumption. When it comes down to effectiveness thru elegant simplicity, the use...
Ok sorry Proffessor! I will turn the levels back on for any future charts

Wouldn't you agree that zones are more important on their first touch? Of course if there are tons of trades going on there is an imbalance and those zones become less important over time.
  • #71,331
  • May 13, 2014 6:28am May 13, 2014 6:28am
Sonikers,

I hold my NU till tomorrow. There will b high impact news on NZD in the morning of my local time.

Any ideas?
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  • #71,332
  • May 13, 2014 6:43am May 13, 2014 6:43am
EURUSD: long triggered @ 1.3703
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  • #71,333
  • May 13, 2014 7:23am May 13, 2014 7:23am
Quoting allisonmagic
EURUSD: long triggered @ 1.3703 {image}
sCout?? it should be small..




Inserted Video


Sonic
  • #71,334
  • Edited 7:49am May 13, 2014 7:25am | Edited 7:49am
Quoting sonicdeejay
{quote} sCout?? it should be small.. http://www.youtube.com/watch?v=udmTfK6_aM8 Sonic
I say, "Not just small, but not at all!"

Trend is down.
Dragon is down.
Dragon is below Trend.
PA is below both.
Euro is weakening.
USD is strengthening.

Geez! How many more signals of bears does a trader need?

Ops! I forgot. PVSRA has turned the less disciplined traders into gamblers.

Ode to Trader Gamblers....

The Trend is down, the Dragon is too.
PA is below both. The chart is true.
The Euro is weakening. The USD is strengthening.
The bears are here. They are awakening.

But, do enter long. You can't be wrong.
For a day or two, sing your song.
You are a gambler, and not so weak.
Then see your account and what the bears did eat!

Good luck, long gamblers.
  • #71,335
  • Edited 7:42am May 13, 2014 7:25am | Edited 7:42am
Quoting sonicdeejay
{quote} sCout?? it should be small.. http://www.youtube.com/watch?v=udmTfK6_aM8 Sonic

crap, i'm dead
  • #71,336
  • Edited 7:50am May 13, 2014 7:30am | Edited 7:50am
Sonicers,

EU Trade Comment: Same entry here as loeil. We were all talking bulls yesterday, (except TAH, of course who correctly saw bears ), knowing even if a classic presented itself, it would be a counter trend high risk trade that would require careful watching. With this in mind, I entered long scouts, as indicated but with micro lots instead of my usual and placed a stop loss (which I normally don't) and walked away, thinking to add as my trade progressed into green. That was not to happen and as TAH had correctly posted the bear MM's did their thing. My point being, as loeil points out, Nothing is 100% certain and, IMO it is much wiser to keep your trades small and add as they progress into the green as taught here.

No matter how much trading experience we have or how long we have been trading the market can and will provide lessons to the contrary to our thinking and analysis as the chart provides. This can be a valuable lesson as to why it is wise to look at the background and not have tunnel vision focused on one t/f as I did here.

Regards,
Cigarguy
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Keep It Simple
  • #71,337
  • May 13, 2014 7:37am May 13, 2014 7:37am
Quoting cigarguy
Sonicers, EU Trade Comment: Same entry here as loeil. We were all talking bulls yesterday, (except TAH, of course who correctly saw bears ), knowing even if a classic presented itself, it would be a counter trend high risk trade that would require careful watching. With this in mind, I entered long scouts, as indicated but with micro lots instead of my usual and placed a stop loss (which I normally don't) and walked away, thinking to add as my trade progressed into green. That was not to happen and as TAH had correctly posted the bear MM's did...
Hi, Cicarguy,

May I know the trades you closed by manually or SL ?

XT
Trading is not easy
  • #71,338
  • May 13, 2014 7:41am May 13, 2014 7:41am
Quoting xiaotiao
{quote} Hi, Cicarguy, May I know the trades you closed by manually or SL ? XT
Stop loss, which I normally do not place if I watch my trades. In this case, I placed the trades as posted above and walked away breaking another of my rules of carefully watching a counter trend trade.

Regards,
Cigarguy
Keep It Simple
  • #71,339
  • May 13, 2014 7:43am May 13, 2014 7:43am
Quoting MosesNMY
MMs are building long...we'll see.... {image}
dercided closed...
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Trade With PDF & Wisdom
  • #71,340
  • May 13, 2014 7:44am May 13, 2014 7:44am
Quoting MosesNMY
{quote} dercided closed... {image}

USA data now, and NZD data later.. this will be interesting
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