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Sonic R. System

  • #71,341
  • May 13, 2014 7:45am May 13, 2014 7:45am
Quoting xiaotiao
I added a few long trades in metals last Friday, closed all trades with 700+ pips altogether. XAUUSD, long Scout, the price whack down and whip up above 1/4 numbers with high volume. I have a questions, If you guys were holding that trade, the red rectangular box is a nice EP to add position, right? XAGUSD, long Scout as well, the reason are similar with gold. Edited: I closed the trades in different time, as I was quite unconfident in myself, so decided to close partially, run for profit Dear senior Sonicers and Tah, please give me some comments....
Hi TAH,

Can you have a look at my previous post and show me some guidance? I still learning the proper time to add position.
Thanks in advance.

XT
Trading is not easy
  • #71,342
  • May 13, 2014 7:45am May 13, 2014 7:45am
Quoting cigarguy
{quote} 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
Hello Cigarguy, please check your inbox when you have a chance

I have locked in profits on AU long. Now I am waiting to see how price reacts at this level.. if price is rejected strongly I will exit manually. Otherwise my TP is at the RDH
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  • #71,343
  • May 13, 2014 7:47am May 13, 2014 7:47am
Quoting allisonmagic
EURUSD: long triggered @ 1.3703 {image}

SL added +8 pips @ 1.3708

time for sleep. Happy trading guys !
  • #71,344
  • May 13, 2014 7:52am May 13, 2014 7:52am
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...


I remember as tah spoke several months ago that classic could be a signal of the preparation on the reversal.
EURUSD is good example
We still learning.
  • #71,345
  • May 13, 2014 7:52am May 13, 2014 7:52am
MMs buying now.....
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Trade With PDF & Wisdom
  • #71,346
  • May 13, 2014 7:57am May 13, 2014 7:57am
Quoting Tiggrrr
{quote} Yeap. So it seems. {image}
Hi Tiggrrr,

May I know what trade is that of ur 1st trade? and what is the reason to open that trade?

XT
Trading is not easy
  • #71,347
  • May 13, 2014 7:58am May 13, 2014 7:58am
Quoting xiaotiao
{quote} Hi TAH, Can you have a look at my previous post and show me some guidance? I still learning the proper time to add position. Thanks in advance. XT
I do not trade metals, so I cannot advise from a position of being familiar with how the MMs move prices, although metal prices are very highly manipulated.

Regarding building a trade as PA moves in the direction of the trade, look for retraces in that move. Look for the end of those retraces, when you are pretty sure the price is resuming the direction of the trade. That is a time to consider adding. If you are not sure, wait for price to resume the trade direction and go to the point the retrace started. That is a time to consider adding.

Hope this helps,
-tah
  • #71,348
  • May 13, 2014 8:01am May 13, 2014 8:01am
EU - is it even possible to be more bullish than that?
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Whatever is obvious is obviously wrong!"
  • #71,349
  • May 13, 2014 8:02am May 13, 2014 8:02am
Quoting MosesNMY
MMs buying now..... {image}
my opinion is that MM is selling into the rally due to US bad news as majority of retail FX are fixated on news release. Just my 2 cents and as TAH always says time will tell
  • #71,350
  • May 13, 2014 8:04am May 13, 2014 8:04am
I have set an even more aggressive stop since my last post. Formation of a Rally-Base-Rally looks like bull MM's are trying to get price through this zone.
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  • #71,351
  • May 13, 2014 8:04am May 13, 2014 8:04am
Quoting FXRobert
{quote} I remember as tah spoke several months ago that classic could be a signal of the preparation on the reversal. EURUSD is good example We still learning.
FXRobert,

Yep, it's not the pip loss for me, it's just a good example of the market giving a reality lesson. It is sometimes easy to become complacent when making lots of pips on sloppy and maybe lucky trades and disregarding the rules only to be given a reality pill. Sometimes we need the cold water in the face to wake up!

Regards,
Cigarguy
Keep It Simple
  • #71,352
  • May 13, 2014 8:08am May 13, 2014 8:08am
Quoting loeil
EU - is it even possible to be more bullish than that? {image}
EURUSD:

Certainly. If the MMs had driven the price soundly and deeply thru the lower whole number on monumental volume.....that would certainly be more bullish.

As it is, they have not done this. They are keeping the price above the whole number, which could be a damn good indication they are accumulating shorts, not longs. There are more USD releases this week, so no wonder the MMs are not in a hurry to drive the price to their "bear target". Until then, they might keep the price above the whole number and sucker in the liquidity they need for more shorting.

So far, PA has in no way exemplified bulls, just bears.

Anyway, that is how I see it. We will get more PA and more opportunities to get a better handle on this.
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  • #71,353
  • May 13, 2014 8:10am May 13, 2014 8:10am
Quoting traderathome
{quote} I do not trade metals, so I cannot advise from a position of being familiar with how the MMs move prices, although metal prices are very highly manipulated. Regarding building a trade as PA moves in the direction of the trade, look for retraces in that move. Look for the end of those retraces, when you are pretty sure the price is resuming the direction of the trade. That is a time to consider adding. If you are not sure, wait for price to resume the trade direction and go to the point the retrace started. That is a time to consider adding....
Your comment does help me, thanks a lot.

XT
Trading is not easy
  • #71,354
  • May 13, 2014 8:12am May 13, 2014 8:12am
Nice double B in GU spotted..


Sonic
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  • #71,355
  • May 13, 2014 8:15am May 13, 2014 8:15am
Quoting traderathome
{quote} EURUSD: Certainly. If the MMs had driven the price soundly and deeply thru the lower whole number on monumental volume.....that would certainly be more bullish. As it is, they have not done this. They are keeping the price above the whole number, which could be a damn good indication they are accumulating shorts, not longs. There are more USD releases this week, so no wonder the MMs are not in a hurry do drive the price to their "bear target". Until then, they might keep the price above the whole number and sucker in the liquidity they need...

Aye Aye,, Professor..

EU look bullish,...

Inserted Video



Sonic
  • #71,356
  • May 13, 2014 8:16am May 13, 2014 8:16am
Quoting sonicdeejay
Nice double B in GU spotted.. Sonic {image}
Not to fast first order according to our rules?
  • #71,357
  • May 13, 2014 8:24am May 13, 2014 8:24am
Quoting FXRobert
{quote} You still long? I see nice potential. {image}
GBPUSD long. my first entry M5 clasic.
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  • #71,358
  • May 13, 2014 8:27am May 13, 2014 8:27am
Quoting FXRobert
{quote} Not to fast first order according to our rules?
agree..just a scouting..

Sonic
  • #71,359
  • Edited 8:42am May 13, 2014 8:27am | Edited 8:42am
Quoting sonicdeejay
Nice double B in GU spotted.. Sonic {image}
GBPUSD:

M15 - No Classic long setup! You went long? Trend down, Dragon down, Dragon below Trend, PA below both? What are you thinking!
H1 - Same story. Trend down, Dragon down, Dragon below Trend, PA below both!

PA broke down thru half number LEVEL and is retracing. Personally, I expect the MMs are just setting up for a darn good drop this week. This retrace upwards,....well there is no telling how substantial or insubstantial it will be. But as I see it, any upside now is nothing more than the MMs creating liquidity for shorting.

I do not like to put faith in "patterns" because there is always a lot of "slip between cup and lip", but there is this H&S formation to see on DAY chart. Like I say, I do not like to put faith in patterns, but if the MMs have it in mind to carry this out, it is no wonder they pulled the price back up from the neckline - sort of a Deceive & Thieve move to suck in the shorting liquidity they might now be very eager for.
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  • #71,360
  • May 13, 2014 8:30am May 13, 2014 8:30am
Quoting sonicdeejay
{quote} agree..just a scouting.. Sonic
scout is small.
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