Sonic R. System

You Can Determine The Trend In Three Ways : Short Term, Medium(?) Term, Long Term. What I Uploaded In Previous Pic, Was My Long Term Analysis, There Was A Medium (!) Term (I Forgot The Word ) But It Didn't Break The Symmetrical Triangle.
Try This To Find Out The Trend :
Beside The HH Or LH Or Thing Like This, If Price Is Going From Down-Left Of Your Monitor To Right-Up , It's a Uptrend And Vice Versa. And If It's Going Sideway, There Is No Trend. For Example As You See In H1 TF, There Is No Trend And Price Clearly Consolidating, But Look At The Second ScreenShot That I Took From Few Weeks Ago , It's Clearly Trending Up.

I think ur TP1 get hit...
Trail it tight..

Sonic

http://img455.imageshack.us/img455/8483/npnt2rg.jpg

Jus kidding.. (I saw ur charts attach in the last page)

Sonic

Sonic, what is your vision on E/U pair? I see potential H&S forming.
What would be the good point to take the trade? Where do you expect it to go?

Thank you!

I see Higher High and Higher Low...in ur chart...


Sonic

"Only those who have the patience to do simple things perfectly will acquire the skill to do difficult things easily"


I love this quote...

Sonic

told cha..

Sonic

Guys,

I have a question regarding position management.

As I've seen here alot of times people when entering trade basically have 2 SLs and 2 TP lvls. If the first one is hit, half of the position is closed and second SL is moved to BE.

So my question is if these two SLs and TPs are two separate orders or one order but which you can close only partly?

Do any brokers allow to close only half the position when first TP is hit?

Thank You!

sonic here is my today trade setup....nice bounce cahnnle 2 tme then pick up with the janeral trend....need coments

Yep , I'm in a trade SL @ BE now, TP is 1.4165 which is right below the D_R1 line @ 1.4170.

Thx Sonic!

TP1 hit for + 55, second lot knocked out at breakeven on that spike after JPM earnings report.

Came within 22 of TP2.

Such is life. Not a bad night's work, considering I slept through most of it.

I have been studying wave analysis and underlying market psychology for a while now. I wanted to share this info with you guys as I regard this as the most important tool I use in trading. The reasoning behind what I do is to try and establish if the market is weakening or strengthening by looking at waves. In the example below, look at wave 1, This is where we start to look at what's going on, it may just have been a retracement of the previous move so we do not trade it. We wait. Then at around 2'o clock prices start to go up, is this the end of the retracement and will the bigger move continue? We wait, prices start to fall again, price moves past the previous low made at 2'o clock at around eight, this is a great enrty point. We manage the trade the whole of wave 2 and get out where we establish is a good place, next we wait. Will price go up or down? At about 15'o clock prices start to move up, then falls and breaks the previuos low made at the end of wave 2. Excellent entry point. Why am I so confident? Here is where I believe a lot of good signals can be made. LOOK at wave 1, Then wave 2, What do you see? the waves are getting bigger, That is a sign that momentum is building up. always watch for expanding waves, it is an almost sure signal that you are trading in the right direction. Never trade into smaller waves, it is a sign of slowing moves, weakeing trend and possible reversal. Now go and look where wave three ended..
What are your views on this?

Sorry here is the right chart.

Sonic, where is the last updated system that u are using, if can point me to it, if it is different from what is in your first post first page!

thank you!

I Usually Use 1 SL & 2 TP, And My Broker Don't Allow Me To Close Position Partially. I Open Two Positions At a Time. But I Think There Is Some Brokers Which Allow This Option. (I Don't Remember The Name)

Regards,
Basber

Thx, Basber!

Just tried it on my demo, Alpari allows to do so, too bad it has to be done manually so one would need to monitor the trade.

Regards,

snu.

i just manged to grab 40pips at EJ on the last short ...well. at least its money ...

TP got hit!

Once again, thx Sonic!

I m glad...

Sonic