Extracts from Islanders Posts 10 April 2013 onwards

Apr 10 Is there any MT4 which provides partial close option? My broker provides MT4 for

Android mobile and I was using it comfortably until the mobile got stolen few days back, so

now I am back to my windows platform again and wondering if I can do partial closing of a

position or not? Thanks for your help and info.

I think that most / all MT4 platforms allow you to select how many units you close......just

change the amount in the volume box of the close screen

Apr 15 If you click on the paperclip that's on the top dark blue line of each page you'll get 2

part sub menu, the upper part is for File Attachments - a newish idea in FF as before it was

mixed in with Images - and a couple of pages back I think you'll find that indicator. No need

to ask Sonic & TAH for simple stuff.......

Apr 15 This again proved "even safe heaven is also a temporary place" market is ruthless and

dynamic .. looking forward to buy Gold from 1180 level.

I guess it all depends on where you bought - talking here of trading gold rather than buying

Kruger ands to hide in a hole in the ground. If you bought when the UK's wizz-kid chancellor -

one G Brown - sold most of the UK's gold at ~$260 - then you dont care - likewise with your

Chateau Laffite 2000 or 2005 bought when first sold at ~ $1000 a case, then you dont care

(recent prices were ~$15K / case) and you can always drink it . But the guys that have only

recently bought have been buying off the profit takers and MMs and are loosing loads - so no

safe haven for them!

Apr 17 On my charts, I like to have S&R levels that have been used in earlier history and back

in my old thread, a regular wrote this little indicator that updates any rectangle that you draw -

provided you name it SR-1 or 2 or 3 etc - and it changes its color for support or resistance.

Some might find it useful.

Apr 17 I noticed a request earlier for me to post more of my charts and how I use Sonic's

ideas, so I'll try, BUT they will rarely be in real time as my current system is very demanding -

something that as summer approaches I need to change.

I was already using something close to Sonic's ideas and like him, I have recently made it more

KISS, without indicators, so just using PA around "levels" (S&R) and volume.

What I have learned since coming here is the importance of the **00 & **50 levels - especially

in Yen pairs and crosses - so thanks Sonic & TAH

Here, the Higher Low ~15 mins before the open of the US Session (Bond Markets) after higher

volumes was a clear buy.

Apr 17 Do your home work - read the thread's first post and say the next 10 pages, then skip a

bit and read say the last 50 pages and you will find this has been answered several times

before and TAH is fed up with repeating himself.....

Oh - and how can a simple MT4 indicator be compared with VSA which is a complete

methodology started by Tom Williams?

Apr 17 If I may, I will offer a brief history lesson.

Volume Spread Analysis is the name of a system of analyzing the movements of price bars in

relation to the volume generated in each bar. It was developed by Tom Williams during the

1990s. Tom Williams was a Floor Trader in the NYSE pits and when he returned to England - he

was then in his sixties - he formalized the VSA methodology of analyzing price movements in

relation to the actions of the "big money" in the Stock Market.

Home computers were then just becoming generally available - this was pre internet as we

know it today - and he started selling his VSA software together with a ring binder which later

became the book - Master The Markets.

When spending a week in London I went to Tom's home in Brighton on the English Channel

and spent a day with him and he sold me one of the first copies of his system - I was then

doing some part time trading of options on the FTSE Index - London's Dow Jones.

In 2005 Tom sold his system to I think Gavin Homes and it was launched as Trade Guider at the

Chicago Expo in July 2005 - I was there when it happened and despite much high pressure

sales talk and offers of huge discounts, I was not a buyer.

Recently here in FF, Malcolmb14, HiddenGap and Shamus have continued to work with VSA

and if I remember correctly, HiddenGap developed the BetterVolume indicator.

So VSA was developed to help trading Stock Markets, where there is a centralized Exchange

with total transparency and accuracy in reported volumes.......Forex is NOT the same and

hence needs a variation of Tom's idea to help us guys trade - and IMO its essential to use tick

volume (activity) information as part of a trader's information to make his trading decisions.

If you have read this thread as suggested, then you will have - thanks to Sonic and TAH - the

information to truly Master The Forex Market.....provided you DO THE NECESSARY WORK!!

May you harvest many pips Islander

Apr 17 Thanks TAH for your kind words.

Nobody should underestimate what your own contribution is worth to this thread. The time

and effort to make the quality of posts whilst putting up with uncalled for criticism is

outstanding and is IMO the reason for this thread's success. Long may you continue.

Kind regards, Islander

Apr 18 GM all......TAH do you ever sleep? - you seem to be posting 24 hours a day

Now we are into Frankies Hour and as Sonic has said, its not a reliable time to trade as the

Big Europeans followed by the Big Londoners push price around with frequent fake-outs

before starting their main daily move - OK for hit and run trades off the 1 min chart, but not

IMO for Sonic trades.

Here's my 5m chart updated from my last post ~20:00 - the US close.

The main reason for posting is to show the PA around S&R levels - all updated by that indicator

I posted.....and if you get a confluence with a fib &/or a pivot, even better......so to work....

Apr 19 @JRissa: quote: "I think that 4h volumes are not very good".....IMO, not only the

volumes, but the bars / candles too as they vary from broker to broker....viz: FXCM's 4 hour

chart has just opened a new bar / candle at 12:00 GMT, whilst Alpari UK's 4 hr bar opened

TWO hours ago.

Thus I submit that the only use for a 4 hr chart is for levels. For any analysis, including

volumes, drop to the 1 hour chart which is the same for all brokers.

Apr 19 Are those S/R areas done by the indie SRZones? I dropped this on a chart and it seems

to do nothing.

This indy just updates, with the appropriate colour, a rectangle that you have already placed

on your chart.

After you have drawn your rectangle, you activate it and then right click to open its properties.

Then you change its Name - the top line - to sr-1 or sr-2 etc etc and click OK to save.

I also post a little SR-1 or 2 etc to remind me how many lines I've got. That should help

Apr 20 I got a question.. What is the difference between VSA & PVA indicator... Because i see

Master Sonic still using VSA and Prof TAH using PVA , wonder if theres big difference between

the 2 indicator. Thanks for answering

OK - I'll give you a hand before you get a BIG REMINDER that YOU MUST READ THE THREAD. At

minimum the first post and 50 pages and the last 50 pages AT A MINIMUM.

This question has been answered several times during the past week, so just read all of the last

week's post's and you'll find the answer. I could give you a shortcut - but then you wouldn't

learn as much

Apr 21 We are always seeing people asking for a repeat of what's been posted several times

before. Now this is either because those guys have not read the thread as instructed, so they

just have to get that message....or because they've forgotten what they've read. For this latter

group may I suggest that they copy Sonic's and TAH's posts that explain things - not every

trade because that defeats the object of copying selected posts! Then paste this info into a

Word Document which you can later review and organize at your leisure......its simple guys.....

Also, I don't know how many guys in the thread are running on demo and how many are

trading real money. IMO once you have mastered how to trade the basics on MT4 and then

have spent a couple of weeks in this thread, then your posts should be about a real time

account. There is just no substitute for having some actual money on the line. You can do this

with as little as $100 and trade micro lots - 0.01 or 10 cent a pip and it makes a huge difference

to your psychological view point.

April 22 OK, so you are new here, so I'll help point you in the correct direction......

You can quickly search all of a person's posts by clicking on the blue posts number on the top

right of each post.....viz 6,651 Posts , there you will find this one "Do your home work - read

the thread's first post and say the next 10 pages, then skip a bit and read say the last 50 pages

and you will find this has been answered several times before ....."

The only non Sonic indy of any note on my chart is the SR_Zones indicator and you will find

that by following those instructions.

If you look at your own 1 min chart and zoom in it will make the LHs & HLs clearer and that was

the whole point of that post.

April 22 One last chart that is all about LHs and a HL.

Note that the highest activity (volume) happens twice - once at the **50 level and once at the

**00 level ..also, Tom Williams tells us that background volume is important - i.e. the volume

that happens a few bars back......

BTW, 5:30pm till 6pm in Europe is when the big guys are closing out for the day, so often a

volatile time...

April 23 OK - that's me finished trying to trade off the 1 min chart and post in real time - as

I've said before, its too stressful and I make mistakes. I usually make half a dozen or so similar

trades in the three hours from FO and these trades may last for 30 / 40 minutes and be worth

50+ pips - its just what the market offers

April 23 Quoting foxybunny Re: S&R Levels Indicator

{quote} Islander, for the indicator "SR_Zones.exe", only when you name the rectangle with the

name like "SR-1" or "SR-2", then it will update the rectangle's destination to the latest bar with

a "Crimson" colour that is the "r-color". There is another "Green" colour that is "s-color", what

must we name the rectangles to activate this green s-color?? And in your chart, there is a text

like "SR-11" or 'SR-15" in yellow, how is this shown from this indicator or did you manually type

this into your chart? Thanks.

OK - so this indicator is to continually update a rectangle that you have placed on your chart

at either a support or a resistance area. You then rename it sr-1, sr-2 etc etc, then it will

update at the close of each bar AND show red if price is below it - i.e. its a resistance zone OR

green if price is above it. I change the colours to pink & light green which I prefer.

I use it especially on my 5m & 1m charts so as to avoid having to keep checking my 15m & 60m

charts for S&R to then place on these short TF charts.

I place a small orange text box with SR-* - * being the number that I used on my last SR zone to

remind me which number to use next - if you forget, you'll see why I do this

So again, the colour change is automatic.....I hope this helps

PS charts added to show you what its doing and the zones will be days or even weeks old

April 26 Also, via FXCM, whose volume (activity) runs at ~2x the Alpari volume, last week was

the highest volume EVER recorded in both UJ & J.

I wonder what the CME futures volumes were as they've been active much longer than these

MT4 brokers...

May 9 Quoting only20gp

{quote} Dont quite agree just yet. This pair should go up

From Post # 46,775 OK - I'll give you a hand before you get a BIG REMINDER that YOU MUST

READ THE THREAD. At minimum the first post and 50 pages and the last 50 pages AT A

MINIMUM.

AND one of the rules is No posting WITHOUT a chart - so please explain - with your Sonic chart

- why this pair should go up......thanks

May 9 Quoting emmanuel7788

{quote} Wow! That marubozu hit hard at 130.00 and bounce right back up. This is the third

time I read you use marubozu candles.It is so effective. Good Sharing! Thank you.

Yep, wider ranged candles that are marubozos or have very long wicks demand our

attention. That one said "I'm not yet ready to break the **00" Ten minutes later there was

another green (semi) marubozo that was saying "I'm a LH, please sell me!"......these work best

with volume and ~a level

May 9 Quoting foxybunny

{quote} Islander, the way you changed from Buy to Sell and vice-versa so fast is really just

amazing. Really need to learn this skill. You really seem to enter just about where the turning

point is Just BEFORE it turned, and more importantly you have even better exits. OK, what are

you looking for when you are doing all these entering and exits?? Where is the bar that show

"I'm a LH, please sell me!" ??

Please remember that I have put in 1,000s of hours of screen time on Forex alone and my

comments are how I "see" the PA and I'm trying to relate it to what Sonic and TAH are talking

about - all be it for 1m intra day swing trading.

Reversing at the S&R level around yesterday's close was just about waiting to see IF that level

would hold again as it did several times yesterday and the exit of the long was just watching

that 1 min candle unfold and its volume carrying on rising and changing green as it spiked up

just above the level. See Chart Below

The Lower High is at #1 the 08:44 GMT candle - again a green Sonic Volume bar...

At #2 the red marubozo hit the **75 level (for the 4th time this morning) in a red Sonic Volume

bar, so "I'm not ready AT THIS MOMENT" to break the level.

At #3 now "I am ready for a high volumed push absorbing those stops move to break the **75

level" and " phew, I need a rest to mop up some more stops etc before I take off again"

At #4 Support now becomes resistance, so back down and wait - pop a Patience Pill and keep

your fingers away from the buy and sell buttons as you try to "out-think" the action i.e are the

MMs mopping up the sellers and becoming buyers.....well Time Will Tell - just watch that **75

level....

I hope this helps .... now back to my garden

PS Take a look at the 10:00 GMT and 10:12 GMT candles......

NB Chart on next page

May 10 GM @ Sonicdeejay & @ traderathome.....gentlemen, a most interesting discussion

over the past few hours.

Whilst I do not trade as TAH, as a ex development engineer, I am watching his work in progress

as he works to develop his system for profiting from his PVSRA approach - and remember guys

it is Work in Progress and its final format has yet to arrive.

I do however personally agree with Sonic's approach and as we move into summer, I am

looking for a longer term methodology as I will have less screen time available. I will be

looking to build positions by following the turning of the dragons around "a level" - the 1

min, then the 5m and finally the 15m which will give me sufficient exposure to start this

approach.

As ever, patience and discipline will be the key to maximizing on the ideas in this great

thread.

May 13 Objective Scouts

Further to TAH's posts #48,683 & #48,719 I too have been looking at how to approach the

problem of removing subjective entries that might be taken when price makes a fake-out type

spike to trap the unwary and promptly starts a long run in the opposite direction - as

happened with UJ on Friday.

As I posted last week, I am looking at using the turn 1 min dragon to allow an early Scout type

entry. On the 1 min chart, price made a Higher Low just above the **50 level with a volume

alert at 07:32.

15 minutes later, there was a 1m HL and thus an objective entry could be "Buy above the first

close that is above the positive sloping dragon centre line - i.e at 101.58 / 07:54.

Alternatively, we could use the same idea on the 5 min chart, this would allow an entry in the

08:20 bar at 101.68.

Now both of these are against the slope of the 15m dragon, but this will usually be so for this

type of early scout. However, note that the slower 15m 89 ema has NOT yet turned down to

confirm that UJ is now going to move down.

Either way, a prudent SL must always be used for this type of early scout entry and I would

have already moved my SL to +1 at a minimum or trailed it behind either the dragon or the

89ema - again objective trading and Research in Progress

May 13 Mid to late European mornings are not generally good for entering, but as mentioned

before, the run up to the (old) open of the US Bond markets often provides a nice intra day

swing. 1m scout type entry for 40+ pips up to Friday's High / **25 level.

May 13 Quoting sonicdeejay

{quote} It is good to have H4 chart open too... 132.3x above will looks bullish or else..

retracement on the card.. Sonic {image}

As usual, I totally agree and every weekend I print out hard copies of the 4 hour charts of

EurUsd, UsdJpy & EurJpy and put them up on the wall above my monitors. Every morning, my

first job is to update these charts with green & red pens.....

May 13 Quoting revoli Re: Printed 4hr charts

{quote} That's a great discipline. Might have to try that. {quote} This drives at the heart of the

issue with PVSRA. At what point do you call it a day and walk away from a trade that has gone

against you? For me until I can answer that question with a definitive answer that enables me

to bound my risk the strategy is not complete. You could not for instance write a business plan

for it stating you will have pot w risk x% and expect drawdowns of y and profits of z. For me

that is what this exercise is about; establishing how one can come up...

Yes, its not only a good discipline, but also very useful to be able to just look up (at the 4 hr

printed charts) and bring what's happening on the lower TFs into perspective.

"If you are planning on 10 lots max allow yourself twice that, so 20 lots (4000 pips draw) and in

total risk no more than 2% account size giving 200000 pip account size per pair traded."

I wondered how long it would take for someone to pick up on this......prepare yourself for a

rally or fall to go on TWICE as long as you think it will and you'll be a safer trader.

Take a look at your monthly chart of UJ and note that it rallied ~4,800 pips in 24 months from

its January 1995 low WITHOUT any appreciable pull back....

May 15 I'm not yet convinced that Mr Market is ready to be a buyer of Yen ( i.e. sell UJ )

There has been a 25 day consolidation in the 97 to 100 zone which we can NOT - IMO - YET

rule out as being accumulation for a continued rally - only a confirmed break below that zone

will tell us.

Meanwhile, we have seen a typical pull back to the 102 area - an area that another volume

methodology tells us to expect to be re-visited - I mean Market Profile / Auction Market

Theory as shown by the cumulative volumes related to price on the right side histogram. The

next area to be re-visited is the 100 to 101 area, which will suggest other more precise levels.

The ultra high volumed red hammer at this afternoon's low, followed by considerable buying in

the next green candle - thus a harami pattern - makes a case for a further move up.

As always, Time Will Tell and I hope for those short followers that there is a fast drop down to

that consolidation zone with its Fibonacci retracement levels.

For my own intra day swing trading of the 1m / 5m / 15m dragons it makes no difference as I

try to take what Mr Market offers during my chosen trading times.

Chart on next page

May 16 Re: Futures charts etc.

Quoting revoli

{quote} The only platform I have found that does this is esignal which is horribly expensive.

Have you got something not so costly?

Just back and I see my UJ PT was hit in the slow grind up

Don't remind me - I was using Esignal to drive Wave 59 before MT4 became available - so

about $250 / month......back in the 90s I was paying three times that for real time data - so

todays traders have never had it so good!

And yes, both AccuCharts and ProRealTime can be used and you can find brokers that will

offer either for free if you open a live account.....PM me if you need more info....

May 20 Quoting emmanuel7788

{quote} yes, also agree. I did not say there is contradiction. Just to highlight that I see H 4

consolidation and market can break either way. Therefore I am following your experiment

closely to help me pick the breakout of H4 using candlestick patterns with PVSRA in it. Please

do not take it that I am against your PVSRA experiment which I find there is some merit in what

it is showing me. regards,

I'm surprised that you are able use H4 candlestick patterns since they vary from broker to

broker......for example, here at the highs, Broker 1 shows a bearish harami followed by a doji,

whilst Broker 2 was almost bullish with a green semi spinning top

For this reason, I always work with the H1 and lower for candlestick patterns....

May 21 Once again the Swissy has been the best for intra-day trading with 50 pip swings > 2x

most others.

Now I've sold, wondering IF this is going to hold as a head & shoulders off the hourly

chart....that would give a target ~the 0.9525 level....TWT Note the higher volumes at each

peak....

BTW, its rather neat how the Sonic FF Cal Headlines indy picks up on the pair that its attached

to and shows the relevant news info

May 22 Subjective vs Objective.

Subjective trades are those taken without a firm Trading Plan. The old saying goes "Plan your

Trade and then Trade your Plan means that you are Planning to Win".

Trading without a Plan (fixed rules) means that you are "Planning to Loose".......

The push up in before the data showed high volumes on the 1 min chart with price at the R1

pivot and 15 pips above the dragon - so extended.

The small rising bear candle was a high volumed spinning top, so I took a scout sell as EP 1,

initially with my SL above the R1 level.

After the data, the 1m dragon turned down, so this allowed the sell at EP 2

The surprising BOE news dropped cable 40 pips in a flash and probably caused the very high

volume in the 08:30 gmt candle.

With both 5m & 15m dragons still sloping up I now have a lower SL which will give me a small

loss, BUT preserves my capital should the German Bond Auction turn the PA back up...

I am "allowed" to add further sells if the 5m and then 15m dragons turn down.......so this is a

Trading Plan that gives Objective entries based on the dragon at the start of each new trend....

May 22 Japan: An Accident Waiting to Happen

The world's largest debt bomb isnt Greece or Spain. Its Japan, where government debt now

approaches 220% of gross domestic product.

wheee..... GBPJPY back around the 250 level with daily ranges of 250-300 pips......those were

the days ....now that's ~9,000 pips away......I wonder where EurJpy might go.....

May 22 Quoting revoli

{quote} It seems to me some brokers run slower than others, possibly even deliberately

slugging their server speeds. I have not tested extensively but I noticed FXCM MT4 could lag

behind say Dukascopy by up to a minute at busy times and guess what - there was no way to

enter a trade in that period. Effectively you get locked out of trading in busy periods. That is

why I do not trade with MT4 (or that broker). I have found the better brokers will take your

trade irrespective how busy they/the market are. This really comes home to roost if you are...

The difference between brokers feeds is well known and has been (well) exploited, although

once they catch on you may as well close your account because the slippage and re-quotes will

drive you nuts ....BTW, I assume that you are talking about Live accounts - demos are irrelevant

in this context. Like you, my main trading is NOT via MT4

May 23 Well done to all of those with LIVE accounts that followed TAH's UJ trade and have

now closed out with a profit.

However, I am with Sonic in thinking that this is, as I have stated before and with good reason,

not the way I wish to trade. Too much risk and drawdown......and IMO not the best use of my

funds.

Try putting the ZigAndZag indicator recently posted by Sonic onto your 15m Sonic chart and

work out for yourself the potential pips reasonably available since the 9th of May by following

its swings and the turn 15m dragon - you may be rather surprised

Please don't bother to suggest that I take all of these entries and post them in real time - I

need my sleep ....anyway, I've already posted plenty of entries and trades, so its easy to get

the idea, just adapt it to the 15m TF

May 28 GM - TAH has been reminding us to look at several time frames to help in our analysis

of the market.

I keep this market profile indicator on my higher TF charts and we can see that the Price Volme

Peak is exactly at the the 50% retrace level, so a level to watch. I did this on my lower TF charts

and sold as soon as the 1m dragon turned down - again an objective entry and now I wait to

see what the London traders do.....

Chart on next page..

May 28 Quoting figgsey

{quote} Islander, that market profile histogram indicator located on the left hand side of the

chart looks interesting. What is it called exactly?

Its Market_Statistics_v5_0 and I posted it a couple of weeks ago. Click on the blue paper clip

on the top right of each page and look 2 / 3 pages back in the File Attachments....

May 30 Quoting Providence

{quote}be nice guys I only joined so I could write that, otherwise you dont have to be a

member to read.. so I have been watching and I didnt say anything negative, quite the

contrary.. I like the systems both.. just tried to help the people understand how the real market

works but I guess that was not well taken..ask a broker friend or someone who has worked at a

bank or financial institution at some point, they will explain how this is true.. thats all I can say

to help, since constructive critism is not taken well with the forum I wont post...

Hi Providence

Please don't give up on posting here as I am certain you have more to offer. There always

hasty comments, especially from newer members who have yet to experience a parabolic blow

off against them.

As I hope you have noticed, there ARE some different ideas being explored here and much that

is posted is "work in progress" - even if some feel that they have already found the H Grail of

forex trading.

Regards, Islander

May 31 Devout followers of bank manipulation will NOT be surprised to see where the UsdJpy

1m 10:59 NY candle closed for the month's end fixing - check out the Swissy too.....

Time for a few Sun-Downers to end my week - enjoy your weekends

June 5 Quoting worldfreedom

Are fundamentals better than PVSRA? The news was good for the GBP right see chart. PMI

prints better than forecast = stronger GBP. What happened? PVSRA told us what was going to

happen. Media is controlled oh wait that cant be they are independent and neutral. This could

never happen

Mmm - I see that you've been trading for some years, so perhaps you might remember the old

adage " Buy the rumor, Sell the news" .....surprise, surprise and that's what happened

June 7 Yen Crosses - GbpJpy, EurJpy etc

@worldfreedom Nicely put and I too took the afternoon off and missed the fun and had a 20

pip loss in my Swissy scouts. I've mentioned numerous times my personal preference when

considering trading a Yen Cross......wait until both components move in the same direction -

i.e. they are in harmony before trading the cross.

Otherwise, just trade the component on its own. Think how much EurJpy would have fallen

yesterday IF had gone down 200 pips instead of up 200 pips!

As usual, a chart says it all - and posting one is in keeping with Sonic's wishes.see next page

July 4 Hi Guys - I've been busy with my "part time summer job" - getting these babies ready

for the season and I don't even get to use them much anymore as I must have taught their

owner too well! So now I'll continue posting a few of my LS intra day trades for my take on

using what Sonic and TAH have shown us......

Juyl 7 BOE's Dovish Statement

Yesterday the BOE's new governor Mark Carney issued a dovish statement and quashed hopes

for an early rise in interest rates, which was what Cable's bulls were hoping for.

Historically, changes in Central Bank policies frequently lead to a change of trading range via a

substantial move - in Cable this has been in the 1,500 to 2,500 pip range.

Looking at yesterday's volumes over all TF's from the daily down to the 1 minute, I can not find

sufficient evidence to tell me that Cable has put in a swing low and I suspect that further falls

are coming. This view is exacerbated by the Dovish statement also put out by the ECB's

Governor Mario Draghi.

Today's Non Farm Payroll data will be very important as a strong number will lend support to

the recent comments by The Word's most important CB Governor - BB - about tapering - the

Fed's monthly purchases of ~$85 Bn of Treasuries - and this would be Bullish for the Dollar.

IMO that would make a Perfect Storm that would batter both Cable and the Euro. TWT

PS I sold both and Cable at LO.....both had 15m, 5m & 1m dragons turning down....

July 5 Quoting sonicdeejay

{quote} I do not like it when u buy on the way down... Should buy in when it start to range

down prior to break up.. Sonic

I'm with you on this - wait for the 15m dragon to turn up and then buy the retraces using the

5min & 1 min charts

"NFP casino opens for betting...Come Come..."

OK, I'm ready....

July 8 quote: " Now to see IF the 15m turns up and allows another entry....."

and it did, allowing me another entry - EP 3 - with the same objective criteria for entry.

Later, dropping to the 1m chart, I watched the PA around the earlier high at 101.35 and after

the 1 min Bull Climax bar at 08:42 I put in a stop at 101.32 to protect my profits and this was

hit. So a nice morning session and I'll be back for the NY Open.....BFN

See chart below.

July 8 Quoting {quote} This system is only to help, but you must also analyze the market

yourself especially Nikki - SP500 and good macro Economic Calendar I would not open shorts 97

96 98 at the growing market of Nikki SP500, before the results of companies 2 Q thi is madness

to open shorty

What has your post got to do with firstly, my well known and just again documented use of

Sonic's indicators and system for intra day trading - a closed trade which has extracted the

maximum pips available so far this LS??.....and secondly, why are you posting NON Sonic charts

with multiple spurious indicators??

I have NOT mentioned (so far today) shorting UJ and when I last checked, was not trading from

an asylum, but from my laptop, in my garden, sitting by my pool!

Edit: Sometimes I can not believe the rubbish that gets posted in this otherwise great thread

July 8 OK, my last post today. I was dozing when my audio alert told me to take a look at

Cable - and so I was late entering and I have shown my correct entries as I have posted many

times before......i.e. after the turn of the appropriate dragon.

Here, the 15m was continuing to slope upwards and thus these were Pull Back entries around

the **00 level

The wide ranged green semi marbozo high candle was with high volume - so sellers / profit

takers were active and as that was also a Bull Climax candle - I joined them

Chart follows

July 8 Quoting foxybunny

{quote} Islander, good to see you are back with the charts. For your EP1, you have an "Initial

SL". For your EP2 & EP3: - do you set a hard SL ? - do you put SL for these 2 entries to be same

as "Initial SL" or where do you put the SL for these later entries?

Thanks - and as I am trading multiple minis / standard lots, my hard SL is protection for a fast

move against me, when I have not already seen the change coming and taken action. Again,

for this intra day swing trading its important to protect my profits, so once both are in profit, I

will protect that profit.

@fex - yes my EPs are the same for that trade, although they may be different for another pair

or cross.

Also, remember guys that the time of day is important for this ID swing trading

July 9 GM - only a pic, words not needed.....I've also traded Cable and J with nice baked pips

PS I took another buy after the small pull back, looking for the **75 level

Chart follows.

July 9 OK - so here are the basics of how I am using the indicators from TAH & Sonic for my

trading of Intra Day Swings mainly during the London Session.......although I do trade both

the AudUsd & UsdJpy before LO as the Australasian Session is still open.

The safest trades are the pure Sonics - a pull back towards the 15m Dragon which is above /

below the 15m 89 ema. However, we often have to wait some time for these, so I have a

different format for giving me more potential trades based on using the 5m & 1m dragons for

Objective Entries.

So at minimum I want to see the 5m dragon starting to change direction with the 15 dragon

flattening, prior to also changing direction - here the 5m dragon becomes a leading indicator

for the 15m

Watching the Price Action around "A Level" - this will be either the **00 or **50, the **25 /

**75 sweet spot levels, OR a prior S&R level which I usually show via a pink or pale green

rectangle, I want to see a pick up in activity (tick) volume to show that increased trading is

taking place at that level - a type of VSA which is picked up via the SonicR PVA indicator. This is

my Alert to start looking for an entry.

My Objective entry - a Scout - is after the close of the first candle that is above / below the

dragon that has just changed direction / slope..... but take care if using the 1m chart - check

the 5m first!

Note that patience and timing are important and I monitor 5 pairs and 1 cross and look to

select the entry with the most confirmation or potential - trading the 1 min chart needs plenty

of experience and practice.

This morning, when I got up an hour before the Frankfurt Open, AudUsd was showing great

potential for a buy after its low under the 0.9100 level a couple of hours earlier which gave

that EP Scout buy ~ 0.9107 and later, after the 15m dragon turned up and price pulled back

another buy as a Semi Classic ( remember the 89 ema)

Whilst I hoped that the 0.9200 level would get hit, the large increase in activity at the London

Open told a different story - too many sellers / profit takers, so bank those pips.

So I hope this helps and I'm finished for this morning....BFN

Two charts follow.

July 9 Quoting Tymedu

Perfect explanation Islander, thank you so much for taking the time to post this My plan is to

go back to classic entries now that I have more experience with PVSRA and use it as an analysis

tool. But you are right that sometimes in m15 you have to wait quite a lot. Also, I feel like

PVSRA works quite well, but I'm not winning as much money as I could because the R/R ratio is

not so high and the time I spent in the trades (normally days or weeks) doesn't worth it. A

couple of questions regarding your post (answer them when you can, no...

When you look at the ID ranges, you can see that all of the contracts that I watch - Usd,

UsdJpy, GbpUsd, AudUsd, UsdChf and Jpy have ranges > 100 pips, so this trading is about

looking to get half of those swings every day from at least one of them - start with which ever

you are most familiar with and just the 5m & 15m.

My initial hard stop will be beyond the last swing turn - which should not be far away if you

have chosen correctly and I would also use that for my next entry.......but my MENTAL stop will

always be dynamically set by the dragon. The PA in a move should remain above / below the

dragon and inside the outer band.

I only show the higher TF dragons on my lower TF charts - otherwise there's too much clutter.

July 9 Quoting Tymedu

{quote} Thanks again Islander. One more question and I let you to rest. How do you setup the

outer bands? I tried with the shift and with BBs but I was not able to do it. Last question,

promise :P

Go to Indicators, trend, Moving Average, period 34, MA Method: EMA, Apply to: Close. Then

set the colour (style) to None. Then click on Levels and add a dashed grey line at +400 and -400

for 40 pips. NB these are dynamic numbers and may be changed to suite less / more volatility -

they are just a reminder.

PS Try a -600 on the 5 min cable chart and see if it tells you anything

OK Guys I have six more pages of my posts to look at and extract from, but that will be next

weekend as I have run out of time..