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Sonic R. System

  • #75,721
  • Sep 4, 2014 12:44am Sep 4, 2014 12:44am
Quoting traderathome
{quote} EURUSD: Since the last post, PA went up to test the green SR area, fell back, rose up thru it, and has come back down to it. This continues to look bullish and make normal PA bullish steps. However, there are multiple EUR and USD high impact releases today. This is a situation ripe for whippin n' whackin' by the Robber Bank MMs. Even one modest Stop Hunt on longs move could take price right back to the bottom. But look a bit lower! RDL and a whole number beckons the Robber Bank MMs to whack the price at least down to there! And if they get...
Agree with u Prof...
I see H n S formation on H1 TF, lets see in a few minutes later-- News release
long trade opened
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Click to Enlarge Name: EU long trade opened.png Size: 46 KB
"Bulls make money, Bears make money, but hogs get slaughtered"
  • #75,722
  • Sep 4, 2014 12:55am Sep 4, 2014 12:55am
Quoting gerardeur
{quote} Thank you! I made some money and I am very happy! Right now I am short EURGBP (0.7965), EURJPY (138) and long GBPJPY (172.5) ahead of the ECB meeting. I think that the EUR is going to go down again but I don't like trading EURUSD or GBPUSD at the moment. Trends are too strong and I wouldn't like to be caught in a reversal. I cannot give more details right now as I am in a hurry but I will come back again before friday and the payroll report! Cheers!
GBPJPY Daily

Warning. We have to watch carefully the GBPJPY. As the daily chart is from a chartist point of view, if this pair crosses below the trendline, then could fall too much.
So watch out! I have to study it better in smaller timeframes.
Attached Image (click to enlarge)
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Donde hay Patron no manda Marinero
  • #75,723
  • Sep 4, 2014 1:17am Sep 4, 2014 1:17am
AUDNZD M1 short scalp
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Donde hay Patron no manda Marinero
  • #75,724
  • Sep 4, 2014 1:22am Sep 4, 2014 1:22am
Quoting traderathome
{quote} EURUSD: Since the last post, PA went up to test the green SR area, fell back, rose up thru it, and has come back down to it. This continues to look bullish and make normal PA bullish steps. However, there are multiple EUR and USD high impact releases today. This is a situation ripe for whippin n' whackin' by the Robber Bank MMs. Even one modest Stop Hunt on longs move could take price right back to the bottom. But look a bit lower! RDL and a whole number beckons the Robber Bank MMs to whack the price at least down to there! And if they get...
EURUSD:

So, following the first of the EUR and USD lineup of releases today, the Frankfurt Open decides to continue the bullish way. There is logic in doing this. If the Robber Banks intend to execute a Stop Hunt on longs today, they will likely net more liquidity if they wait until the last minute - later, rather than sooner.

We cannot know how prices will move. What we can do is trade our setups and yet realize the potential for great whips or whacks, and that one against us can mean we are right, just as easily as it can mean we are wrong. We have to realize all of this, and know what we are going to do in the event it happens.
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  • #75,725
  • Sep 4, 2014 2:12am Sep 4, 2014 2:12am
Quoting gerardeur
{quote} Thank you! I made some money and I am very happy! Right now I am short EURGBP (0.7965), EURJPY (138) and long GBPJPY (172.5) ahead of the ECB meeting. I think that the EUR is going to go down again but I don't like trading EURUSD or GBPUSD at the moment. Trends are too strong and I wouldn't like to be caught in a reversal. I cannot give more details right now as I am in a hurry but I will come back again before friday and the payroll report! Cheers!
Regarding EURUSD and GBPUSD, I totally agree. When the EURUSD fell more than 23%, I gave up looking for patterns in reverse temporalities where we read the volume, because these temporalities, in my opinion, no longer to serve as strong trends.

And in large timeframes, the volume ratio is more difficult to read, and, therefore, have to wait for the price action.

The weekly chart of EURGBP not conducive to short. Perhaps there is some regression in lower timeframes.
Attached Image(s) (click to enlarge)
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Donde hay Patron no manda Marinero
  • #75,726
  • Sep 4, 2014 2:22am Sep 4, 2014 2:22am
GBPJPY Long Trade Opened:

Classic entry based on bullish wave created as price oscillated about the half number. The JPY releases were non-events so far as affecting price, so the key here is GBP. The last move yesterday was to take it down to lows of the day. Today there has been no interest in hiking the price ahead of the coming multiple GBP releases. All this together paints the picture that the Robber Bank MMs are bullish GBP, and keeping it low for long building. No TP set at this time.
Attached Image (click to enlarge)
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  • #75,727
  • Edited 8:32am Sep 4, 2014 2:24am | Edited 8:32am
EURGBP H4

This pair seems bullish on the weekly chart, but shows signs of retracement H4.
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Donde hay Patron no manda Marinero
  • #75,728
  • Sep 4, 2014 2:36am Sep 4, 2014 2:36am
AUDJPY Short Trade Open & Closed:

Scout entry based on price being rammed above whole number repeatedly, and this time with very notable volume in the new Asian session. I see AUD as strong, and was expecting bears to come out to create liquidity for the bulls on AUDUSD, but I decided to take this short scalp instead.

Trade closed for average of 15.5 pips.
Attached Image (click to enlarge)
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  • #75,729
  • Edited 3:21am Sep 4, 2014 2:37am | Edited 3:21am
Quoting traderathome
GBPJPY Long Trade Opened: Classic entry based on bullish wave created as price oscillated about the half number. The JPY releases were non-events so far as affecting price, so the key here is GBP. The last move yesterday was to take it down to lows of the day. Today there has been no interest in hiking the price ahead of the coming multiple GBP releases. All this together paints the picture that the Robber Bank MMs are bullish GBP, and keeping it low for long building. No TP set at this time. {image}
GBPJPY M15

I agree. BUY SOTP
take profit, scalping lower timeframes .
Attached Image (click to enlarge)
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PD: New analysis. Doubts. If in doubt, do not trade. I have lost confidence because I do not feel bullish force of the pair.
(I'm not saying it's wrong to take long trade.)
Attached Image (click to enlarge)
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Donde hay Patron no manda Marinero
  • #75,730
  • Sep 4, 2014 2:40am Sep 4, 2014 2:40am
Quoting traderathome
GBPJPY Long Trade Opened: Classic entry based on bullish wave created as price oscillated about the half number. The JPY releases were non-events so far as affecting price, so the key here is GBP. The last move yesterday was to take it down to lows of the day. Today there has been no interest in hiking the price ahead of the coming multiple GBP releases. All this together paints the picture that the Robber Bank MMs are bullish GBP, and keeping it low for long building. No TP set at this time. {image}
I have an entry around the 172.43 area and I believe you are reading the chart correctly... the news will make or break it but its a risk free trade for me as on now.. 3 hours to show time...
  • #75,731
  • Sep 4, 2014 3:21am Sep 4, 2014 3:21am
AUDJPY Long Trade Opened:

Classic entry based on bullish wave as price oscillated about the whole number. As previously stated, I see AUD as strong. No TP set at this time.
Attached Image (click to enlarge)
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  • #75,732
  • Sep 4, 2014 3:29am Sep 4, 2014 3:29am
AUDUSD Long Trade Opened:

Classic entry based on bullish wave, notable volume at lows during FO, and the span of time the MMs have kept the price ranging below the half number, where they prefer to build long. No TP set at this time. The coming onslaught of USD releases is a fly in the ointment. This could get a big whip n' whack spanking, but I continue to see AUD as strong.
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  • #75,733
  • Sep 4, 2014 3:35am Sep 4, 2014 3:35am
Quoting leentjai
{quote} Re-opened short AUD/USD {image}
Closed shorts AUD/USD
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  • #75,734
  • Sep 4, 2014 3:47am Sep 4, 2014 3:47am
AUDUSD long scalping open and closed
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  • #75,735
  • Sep 4, 2014 4:09am Sep 4, 2014 4:09am
EURJPY Long Trade Opened:

Classic entry based on bullish wave formed below whole number and price having established a base at the 3/4 level. No TP at this time. Note the high volume when the Frankfurt MMs presumably cleaned out the queue of liquidity for accumulating longs.
Attached Image (click to enlarge)
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  • #75,736
  • Sep 4, 2014 6:34am Sep 4, 2014 6:34am
Quoting sonicdeejay
{quote} Thank you...Sir,, http://www.youtube.com/watch?v=bwoSgSJzZf4 Sonic
I notice in this video that Sonic doesn't recommend adding more scout trades if in the red but notice a lot of charts on here people are doing this, is there a reason or is it just based on experience?

Cheers
Pip Goes The Weasel
  • #75,737
  • Sep 4, 2014 6:35am Sep 4, 2014 6:35am
Nasdaq Tech--

M5-- Bears
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  • #75,738
  • Sep 4, 2014 6:42am Sep 4, 2014 6:42am
Quoting adrazz
{quote} I notice in this video that Sonic doesn't recommend adding more scout trades if in the red but notice a lot of charts on here people are doing this, is there a reason or is it just based on experience? Cheers
It's normally very bad to add to losing trades. The only time I think it's acceptable is in a market that's trending very strongly in your favor. Otherwise it's very very dangerous.

Or maybe if it's a super long term investment/trade and you can handle the drawdown, then it's probably okay as well. but for the most part should be avoided.
  • #75,739
  • Sep 4, 2014 6:49am Sep 4, 2014 6:49am
Quoting Ck87
{quote} It's normally very bad to add to losing trades. The only time I think it's acceptable is in a market that's trending very strongly in your favor. Otherwise it's very very dangerous. Or maybe if it's a super long term investment/trade and you can handle the drawdown, then it's probably okay as well. but for the most part should be avoided.
Thanks for the reply, advice taken
Pip Goes The Weasel
  • #75,740
  • Sep 4, 2014 6:52am Sep 4, 2014 6:52am
massive sell on the Euro from interest rate drop!
Pip Goes The Weasel
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