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Sonic R. System

  • #73,761
  • Edited 11:30pm Jun 26, 2014 1:42pm | Edited 11:30pm
Quoting Gupito1508
GBPJPY Long opened Notable activity below whole number, bear loosing enthusiasm on h1. PA already shows double bottom on M15 and H1. By this I throw Long scout... -GP- {image} {image}
GBPJPY long closed
Not so much, missing the climax bull... Wait further PA... For now, It's good as long as green pips bagged home...
-GP-
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It's all started from page one
  • #73,762
  • Edited 2:43pm Jun 26, 2014 1:53pm | Edited 2:43pm
NZDUSD Short Trade #2:

Scout short entry in separate account based on the following.

Currently in after hours the MMs are manipulating the price upwards. I interpret this as an attempt to create and use up all available liquidity for shorting. The MMs are no longer looking to fake price lower to encourage longs into the market or to get better long prices themselves. What longs would be stupid enough to enter this pair long with live or pending orders anywhere near these prices after what PA has been showing everyone? So, the MMs are supporting the price high in an effort to fool everyone into thinking this will go up and that they should enter long up here. Hence, while supporting the price, the MMs are shorting against any and all longs suckered in by this trick. Coming a little later is the awaited NZD high impact release, which finishes the week of releases. Now only time will tell.
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  • #73,763
  • Jun 26, 2014 2:46pm Jun 26, 2014 2:46pm
Took some profit on GOLD!
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There is no spoon....
  • #73,764
  • Jun 26, 2014 2:48pm Jun 26, 2014 2:48pm
Took some profit on EJ!
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There is no spoon....
  • #73,765
  • Jun 26, 2014 6:24pm Jun 26, 2014 6:24pm
I opened short Scout NZD/USD
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  • #73,766
  • Jun 26, 2014 10:16pm Jun 26, 2014 10:16pm
Quoting feinan
{quote} 4 days later,, told cha.. {image} {quote} nice scalp feinan
9 more hour later. told cha.. would be an interesting level to watch..
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t.me/LWBRfx Discord.io/LWBR
  • #73,767
  • Edited 11:12pm Jun 26, 2014 10:38pm | Edited 11:12pm
Quoting feinan
{quote} 9 more hour later. told cha.. would be an interesting level to watch.. {image}
USDJPY:

The two things I do not like about this pair are....

1. It has an crappy range. No good!
2. US economy is getting better, and mkt knows it. So, when the rest of the JPY pairs collapse because the opposite side of the pairs are going down, this one will not run in the race.

It is most of the time a lousy pair to trade. Just look at today! The Classic short "setup" (no proper wave) was well before the LS (which is still hours away) and now the entire day range is wasted away on this move down! It is a horrible pair to trade. Why bother with it?

I think we Sonicers should boycott USDJPY. Send a message to the market makers to give this pair a larger range or we won't be trading it. Send a message to the brokers to cut the spread or we won't be trading it. We have to speak with our money. There are no voting privileges here. Sure, if we boycott it, big deal, right? No, not until more and more and more retail traders here about this and join the boycott. Eventually, maybe there will be an impact. Meanwhile, there are other, and better choices for trading.

-tah
  • #73,768
  • Jun 26, 2014 11:17pm Jun 26, 2014 11:17pm
I feel relieved that seeing Tah and some traders agrreing that the NZDUSD is bearish as i am currently stucked in NU too.Maybe i jumped in the scout too early..
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Trading is not easy
  • #73,769
  • Jun 26, 2014 11:31pm Jun 26, 2014 11:31pm
Quoting traderathome
{quote} You meant that you closed your long trade, Gupito.
Yep... My mistake... Thankyou prof...
-GP-
It's all started from page one
  • #73,770
  • Edited Jun 27, 2014 12:39am Jun 26, 2014 11:40pm | Edited Jun 27, 2014 12:39am
Quoting xiaotiao
I feel relieved that seeing Tah and some traders agrreing that the NZDUSD is bearish as i am currently stucked in NU too.Maybe i jumped in the scout too early.. {image}
Pick a High, and Pray....

That is what comes from trading price spikes singled out by the PVA Candle and Volume indicators. It amounts to picking highs or lows, but justified by PVA (Price Volume Analysis). Sometimes the spikes take price action to the right side of key S&R, and then we have PVSRA justification. Or do we? There is inherent risk in trading spikes, no matter the justification. The risk is that the spike might turn out to just be one of a series of spikes that take price progressively further.

We cannot know how price will move next. When will we accept this fact? Just because we have a price spike noted by PVA, or even PVSRA, it is not a guarantee of reversal of price anytime soon!

When we trade on the right side of the Dragon in the right direction we expose ourselves to less of that risk. As individuals, we need to wrestle with ourselves and eventually make a decision. Are we going to attempt to obtain every last ounce of profit by looking for PVA or PVSRA spikes to highs or to lows? Or, are we going to accept that it involved unacceptable risk and that we can be adequately profitable, and with less headaches, by trading the Sonic R. System Classic setup? The spikes will still benefit us, but as an important part of the analysis of a Classic setup,....not as a trigger to trade.

-tah

P.S.: This picture points out the danger of top picking. Once the pick is made and it turns out badly - we cannot know how price will move next - we become tempted to repeatedly pick more tops, which can also turn out badly. Remember the saying that the Robber Bank MMs can be wrong longer than everyone else! So, they continue to relentlessly push up price until all bears are exhausted and quit or are stopped out. Our only salvation is to trade very, very light so we can withstand such an onslaught by the MMs. But, in the end, even if we manage to stay in the trade, is it worth it? Really, if it happens to you, ask yourself if it was worth it. If you had been less eager to pick a top to short, and more patient to await a Classic and go long, instead of fretting about a losing trade and tying more and more money up in it with additions at every new high, the Classic long could have been making money! Yes, I know. Easier said than done. True. But developing patience to await a proper Classic - never mind the greed to jump at a high or a low - will more often than not pay off with better profits. I know this because I have made enough of these mistakes myself to know how they turn out versus what could have taken place had I awaited a proper Classic setup. I am currently suffering for having made this mistake on this pair and on USDCAD. Let me tell you, waiting for things to turn around is a pain in the ass! And that is putting it mildly.
Attached Image
  • #73,771
  • Jun 27, 2014 12:45am Jun 27, 2014 12:45am
Quoting traderathome
{quote} USDJPY: The two things I do not like about this pair are.... 1. It has an crappy range. No good! 2. US economy is getting better, and mkt knows it. So, when the rest of the JPY pairs collapse because the opposite side of the pairs are going down, this one will not run in the race. It is most of the time a lousy pair to trade. Just look at today! The Classic short "setup" (no proper wave) was well before the LS (which is still hours away) and now the entire day range is wasted away on this move down! It is a horrible pair to trade. Why bother...
prof TAh, i agree. im not trading this pair either with the crappy range. Only to measure the JPY strength vs USD..
Watch and analyze, gaining some S&R experience.
Quoting xiaotiao
I feel relieved that seeing Tah and some traders agrreing that the NZDUSD is bearish as i am currently stucked in NU too.Maybe i jumped in the scout too early.. {image}
You should stop stacking scout while price move against you, at least, stacking them at major S&R area while Dragon facing your direction are more acceptable..

feinan
t.me/LWBRfx Discord.io/LWBR
  • #73,772
  • Jun 27, 2014 12:58am Jun 27, 2014 12:58am
Quoting traderathome
{quote} USDJPY: The two things I do not like about this pair are.... 1. It has an crappy range. No good! 2. US economy is getting better, and mkt knows it. So, when the rest of the JPY pairs collapse because the opposite side of the pairs are going down, this one will not run in the race. It is most of the time a lousy pair to trade. Just look at today! The Classic short "setup" (no proper wave) was well before the LS (which is still hours away) and now the entire day range is wasted away on this move down! It is a horrible pair to trade. Why bother...
Quoting feinan
{quote} prof TAh, i agree. im not trading this pair either with the crappy range. Only to measure the JPY strength vs USD.. Watch and analyze, gaining some S&R experience. {quote} You should stop stacking scout while price move against you, at least, stacking them at major S&R area while Dragon facing your direction are more acceptable.. feinan
Agree... I've already boycott them... The range is super silly and crapp...
It's all started from page one
  • #73,773
  • Jun 27, 2014 1:08am Jun 27, 2014 1:08am
I've got another opinion for GBPJPY... for now, I'll wait until PA and PVSRA more clear and decide further action... MM maybe front running for NFP... Maybe... Until sign got clearer, I'll watch like a hawk and ready to enter when signal tell me to do so...
-GP-
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It's all started from page one
  • #73,774
  • Jun 27, 2014 2:41am Jun 27, 2014 2:41am
GBPUSD Short Trade Opened:

Classic entry.
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  • #73,775
  • Jun 27, 2014 2:56am Jun 27, 2014 2:56am
NU Classic entry
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  • #73,776
  • Jun 27, 2014 2:59am Jun 27, 2014 2:59am
Quoting traderathome
GBPUSD Short Trade Opened: Classic entry. {image}
Trend is up. Dragon is up. Price is also in an area of the supporting trendline. Just my 1.7 cents Anything can happen though.
  • #73,777
  • Jun 27, 2014 3:01am Jun 27, 2014 3:01am
Quoting traderathome
NZDUSD Short Trade #2: Scout short entry in separate account based on the following. Currently in after hours the MMs are manipulating the price upwards. I interpret this as an attempt to create and use up all available liquidity for shorting. The MMs are no longer looking to fake price lower to encourage longs into the market or to get better long prices themselves. What longs would be stupid enough to enter this pair long with live or pending orders anywhere near these prices after what PA has been showing everyone? So, the MMs are supporting...
NZDUSD Short Trade #2 Closed:

Closed for gain of 12.6 pips average, 252 pips total. I added to the trade after initial entry. Taking profit with the anticipation the price will go back up into the US open. If not, still have profit and will await a retrace and re-assess if to trade again.
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  • #73,778
  • Jun 27, 2014 3:01am Jun 27, 2014 3:01am
Quoting traderathome
GBPUSD Short Trade Opened: Classic entry. {image}

Hi Tah..

Sorry but..that doesnt look like a classic entry.
  • #73,779
  • Jun 27, 2014 3:02am Jun 27, 2014 3:02am
NZDUSD: LS, Dragon is down, 15M price crossing trend line, Classic short forming. Correct me if I'm wrong.
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Enter Signature
  • #73,780
  • Jun 27, 2014 3:11am Jun 27, 2014 3:11am
Quoting SaiLyfee
{quote} Trend is up. Dragon is up. Price is also in an area of the supporting trendline. Just my 1.7 cents Anything can happen though.
watch the 5m
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