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Sonic R. System

  • #72,601
  • May 30, 2014 9:51am May 30, 2014 9:51am
Quoting traderathome
{quote} AUDJPY Long Trade Update: Added long Scouts when price was lowered into support zone, including prime area for accumulation of longs below half LEVEL. With 1.5 hours until the close of the LS, there is still time for this to rise further. {image}
EDIT: This AU and not AJ

Prof Tah - I am watching AU. I will wait until a proper long classic entry is formed maybe just above the area in yellow. I am also looking at volume formation using Gupita's logic
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  • #72,602
  • May 30, 2014 10:10am May 30, 2014 10:10am
Quoting SaiLyfee
GBPJPY Long Trade Entered: M15 shows heavy buying in and around the 170 psych level. {image} H1 also showing buying activity also with an inverse H&S in play with roughly 171 as the target. {image}
I jumped on this bandwagon too:
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  • #72,603
  • May 30, 2014 10:12am May 30, 2014 10:12am
Quoting wizz2014
{quote} EDIT: This AU and not AJ Prof Tah - I am watching AU. I will wait until a proper long classic entry is formed maybe just above the area in yellow. I am also looking at volume formation using Gupita's logic {image}
Hi Wizz,

Did you mean Long Classic? Wasn't it Short Classic? the volume of bulls bars became less and the volumes of bears became more isn't it?

XT
Trading is not easy
  • #72,604
  • May 30, 2014 10:26am May 30, 2014 10:26am
Quoting billko1977
{quote} Using Gupita's logic this would be a short opportunity. Although he does use the 1 hr to help with the trade decision {image}
And is correct (I think?) except for the fact we are nearly close of play Friday so a bit unpredictable.
  • #72,605
  • May 30, 2014 10:31am May 30, 2014 10:31am
Quoting xiaotiao
{quote} Hi Wizz, Did you mean Long Classic? Wasn't it Short Classic? the volume of bulls bars became less and the volumes of bears became more isn't it? XT
Sorry, I meant short classic, when the dragon and trend have crossed each other around the yellow zone.
  • #72,606
  • May 30, 2014 10:36am May 30, 2014 10:36am
Quoting xiaotiao
{quote} Hi Wizz, Did you mean Long Classic? Wasn't it Short Classic? the volume of bulls bars became less and the volumes of bears became more isn't it? XT
AUDUSD:

Classic long is correct, but it won't run today. Next week our watch list should continue with looking for a new Classic long setup. You can see how during today the volumes favored the moves down to the lower prices, thru the whole number, and back up, indicating the MMs are bulls accumulating long orders.
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  • #72,607
  • May 30, 2014 11:34am May 30, 2014 11:34am
Bloody Friday for me...
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  • #72,608
  • May 30, 2014 11:44am May 30, 2014 11:44am
Hello Sonicers, wonderful weather over here in New York!!!

I want to share some insight into the method of trading I have been testing lately. I have been trying to scalp using classic setups with tight SL's (15 pips), I have won and lost but remain at 50% win rate. Why? There is simply not enough breathing room with a 15 pip SL. The Whipping Whackers will either whip the price to stop out any weak orders (including mine) almost instantly before price heads in my initial biased direction. Highly recommending newer traders to steer clear of scalping until you really understand the markets. I will revert to my more successful method of trading by lowering my position size and allow myself the breathing room for the moves to mature.

Patience is key! I will do more and more homework and live trading until this is second nature to recognize the thieving banks!
  • #72,609
  • May 30, 2014 12:31pm May 30, 2014 12:31pm
Quoting TrendyTrade
{quote} I jumped on this bandwagon too:{image}
any TP points idea..??
  • #72,610
  • May 30, 2014 1:08pm May 30, 2014 1:08pm
Quoting Garyyankee69
{quote} any TP points idea..??
TP was at first sign of exhaustion which also happened to be at the RDH level.
  • #72,611
  • May 31, 2014 1:47am May 31, 2014 1:47am
Quoting TrendyTrade
{quote} I jumped on this bandwagon too:{image}
Great stuff I'm personally still holding this bad boy. 171 doesn't look like too much to ask with this pair at the moment. Time will tell I suppose.
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  • #72,612
  • Edited Jun 1, 2014 10:00am May 31, 2014 10:07am | Edited Jun 1, 2014 10:00am
Sonicers, (Posted primarily to answer PM's received from new traders in the essence of saving time to answer each)

Often in my posts (as other traders do as well) I will make mention to using Pivot Points, Fibonacci and Psychological Levels for S/R, placement of stops, entries, exits and potential reversals. This post is in answer to the PM's that I have received this week, mostly from new traders, asking how I personally use each. Well to begin with, their are volumes written on each subject all over the internet, so for details just Google any one and be prepared for some heavy reading. There have been many good examples posted on this thread and given in the PDF's and set ups that are discussed daily with traders providing explanations in their use , but it appears some still are unsure of how to use them. With that being said, the following is a brief summary of how I often use each;

TAH and the Sonic team have provided the pivot and level indicators in the Sonic 2014 template. The fib retracement tool is in your MT4 Platform

Pivot Points

Pivot Points are great at predicting turning points. Because so many traders use them, they become a self-fulfilled prophecy for S/R somewhat predicting where traders pending orders are placed and triggers for the MM's software. Pivot points are most accurate on the highers t/f's monthly, weekly and daily etc. Always pay attention to the daily Pivot, R2 and S2 classic pivot points. Specially near London Session closing time, when they represent important turning points caused by the closing of positions of traders who follow the London Session and our finishing their trading day.

Fibonacci Retracements

Fibs can be used in a variety of ways and like pivots are used by many so these levels are often respected, especially on the higher t/f's. The key levels of course as most are aware are; 23.6%, 38.2%, 50% and 78.6%. The use of fibs and extensions should be researched by each trader then drop them on a chart and see for yourself. I tend to use them for denoting support/resistance and areas of possible reversals. (there are volumes written on Fibonacci but for our trading purposes, I feel what has been written here will suffice)

Psychological Levels

There are articles all over the internet explaining and giving detailed examples on psych levels. So again briefly, "psych" levels, psychological levels occur when price ends with multiple 0's. It's human nature for us to gravitate towards round numbers when discussing most topics that involves numbers and so often orders and retail trader stops are placed around these numbers where there will be an effect on PA and these levels become areas of support and resistance. A simple example I found;

"If someone were to ask you how much you spent on your computer, you’d likely respond with an amount rounded to the nearest hundred (‘ah, about $800,’ or ‘I paid $900.’) Sure, you can give an exact answer like Six-hundred-and-thirty-nine dollars and ninety-six cents; but that doesn’t really make any sense. If I had asked the question, I probably don’t care about the $39.96; I just wanted a ballpark idea for how much you paid for the computer."

Out of simplicity, most people (most of the time) will automatically round to the nearest whole number."

That's it, just simple stuff but it works. IMO, you don't need to go into deep analysis in each area. Have a basic understanding and know their significance to PA.

There is one other topic I would like to mention and that is the H1 candle reset. This is in no way is provided to deviate from the PVSRA lessons taught here but something that occurs every hour on the reset that has become useful to me. I have a hour timer set on one of my platforms and it notifies me 5 minutes before every hour giving me the opportunity to watch for movement on the reset or stay out of the market until the H1 candle begins to form. I know of many traders that do not trade on the H1 reset and others that look to capitalize on that movement, especially if close to s/r areas . Just watch PA on the hour candle reset and you will get the drift.

One last thought to remember "The Market Can Remain Irrational Longer Than You Can Remain Solvent". So trade with care!

Quick example; UJ M15, I dropped the daily fibs on this chart and you can see how the fibs along with whole numbers are often respected and short term reversals are shown here. This was Friday and end of day but just an example. The above are my opinions as requested from PM's and you must observe on your charts and make your own decisions and keep in mind that nothing works all of the time and trading is based on probabilities!

Regards and Many Pips to ALL
Cigarguy
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Keep It Simple
  • #72,613
  • May 31, 2014 3:44pm May 31, 2014 3:44pm
Quoting cigarguy
Sonicers, (Primarily to answer my PM's from new traders in the essence of saving time to answer each) Often in my posts (as other traders do as well) I will make mention to using Pivot Points, Fibonacci and Psychological Levels for S/R, placement of stops, entries, exits and potential reversals. This post is in answer to the PM's that I have received this week, mostly from new traders, asking how I personally use each. Well to begin with, their are volumes written on each subject all over the internet, so for details just Google any one and be prepared...
Thanks for this Cigarguy. This is a crash read for me to get up to speed with some of the additional stuff that I would like to add to PVSRA. I also know that Prof TAH had from time to time referred to double tops/ bottom which had been fairly effective in our analysis since I have been on this thread. Also, I am interested in wanting to know more about the H1 candle reset (have you got any visual examples for me/us to see please? If you don't want to clutter this thream, feel free to PM pls.
Thx and lets all have a better next pipee week!
  • #72,614
  • May 31, 2014 9:26pm May 31, 2014 9:26pm
Hi Gupito, I have sent you a pm , hope you don't mind'
Regards Peter
  • #72,615
  • May 31, 2014 11:13pm May 31, 2014 11:13pm
Quoting orid
Hi Gupito, I have sent you a pm , hope you don't mind' Regards Peter
I've replied sir... Sorry for late reply... have something to do in weekend.

Regards,
Gupito Poernawan

On a good day, I'm okay...
On a bad day, I'm okay too...
It's all started from page one
  • #72,616
  • Jun 1, 2014 4:19pm Jun 1, 2014 4:19pm
Nice Begin new week.
USDCHF mforex after open market
about 80 pips

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  • #72,617
  • Edited 5:39pm Jun 1, 2014 5:12pm | Edited 5:39pm
Quoting FXRobert
Nice Begin new week. USDCHF mforex after open market about 80 pips {image}
USDCHF:

I show no such price change on my charts! A chart of mine shows the price started the new week by dropping less than 9 pips from the close of last week.

If one takes the view that this pair is bullish overall for the week's potential, then this single broker price drop (unbelievable) could just be a disreputable broker running the price on it's own client book of business to create liquidity for it to accumulate long orders: by hitting long SLs and by triggering short orders.

If it were my broker, I'd demand an answer to their large negative price movement that does not show up with other market brokers!

-tah
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  • #72,618
  • Jun 1, 2014 5:29pm Jun 1, 2014 5:29pm
NU - Pre LO classic? not sure, but I have placed my 1st EP because on H4 PA was coming from an a fairly strong demand zone. Dear Sonicers please critique.
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  • #72,619
  • Jun 1, 2014 5:35pm Jun 1, 2014 5:35pm
Quoting wizz2014
NU - Pre LO classic? not sure, but I have placed my 1st EP because on H4 PA was coming from an a fairly strong demand zone. Dear Sonicers please critique. {image}
Its monday and NZD Bank holiday and first Trading day on June .. dont expect much on this pair today i'd rather wait LO and decide later. hold no position now. Just my 2cent.

feinan
t.me/LWBRfx Discord.io/LWBR
  • #72,620
  • Jun 1, 2014 5:40pm Jun 1, 2014 5:40pm
EJ - Another possible pre LO classic. Not 100% sure, but it looked a good trade to take. Thoughts welcome!
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