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Sonic R. System

  • #4,161
  • Jul 24, 2009 3:35am Jul 24, 2009 3:35am
Quoting Rastaman
Well, it is not the span that matters but the Low to High & Low that gives a fibo projection of where price will reach and when it will breakout.
I just entered the Low and High in a fibo calculator and it gives the very same breakout area. This is also a form of wave analysis in a sense.

have you never used this tool in MT4?
you can apply it at any major high lo high or low high low to give us a rough area for breakouts and tp. Here it is applied at major turns yesterday but you can see the areas still hold as S&R today.

it is just another...
Yes, I do use it. I have customized the levels too. Most frequently I use the span across the Bollinger band pinch to place points 1 & 2, and then swing the FE "arm" up (or down) to the level of point 2. This gives me the FE levels off the pinch. I have shown this in attached chart. I am struggling to understand your method of using this tool.....I don't see how it tells you WHEN the breakout will occur. Is the breakout level the 100% level, as you use this?
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  • #4,162
  • Jul 24, 2009 3:55am Jul 24, 2009 3:55am
As I said, it doesn't show you WHEN just where price may breakout, as you obviously already know. Look at the photo above for the fibo time frames.
Starting to see instead of just looking.
  • #4,163
  • Jul 24, 2009 4:46am Jul 24, 2009 4:46am
Quoting ddaytrader
All Sonikers, new and not so new, ought to keep that post on a post-it note taped to their trading screen until they get it drilled into their trading brain. That is where the money is.
DD

What kind of wave study do you recommend?
I did start to study Elliot waves but it became almost an esoteric hypothesis akin to Black Magic.

If you have any suggestions for reading material, I would be grateful.

Thanks in advance
Starting to see instead of just looking.
  • #4,164
  • Jul 24, 2009 5:01am Jul 24, 2009 5:01am
Fellow Sonikers,

couyld you please share your ideas about USDJPY based on a higher TF, I want to know what people see there. Do we consider it up or down?

I suggest its up from 95.00 (daily open) and down from 94.60 (daily pivot). Correct me if I'm wrong.

Thank you,

Snu.
Attached Image (click to enlarge)
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  • #4,165
  • Jul 24, 2009 5:18am Jul 24, 2009 5:18am
Is this a valid entry?
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  • #4,166
  • Jul 24, 2009 6:18am Jul 24, 2009 6:18am
Quoting snusnufreak
Fellow Sonikers,

couyld you please share your ideas about USDJPY based on a higher TF, I want to know what people see there. Do we consider it up or down?

I suggest its up from 95.00 (daily open) and down from 94.60 (daily pivot). Correct me if I'm wrong.

Thank you,

Snu.
Looks like it is in a down channel on the Daily to me.
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Starting to see instead of just looking.
  • #4,167
  • Jul 24, 2009 6:20am Jul 24, 2009 6:20am
Quoting heartstart
Is this a valid entry?
Can't see any entry marked on the chart, so am not able to say.
Starting to see instead of just looking.
  • #4,168
  • Jul 24, 2009 6:27am Jul 24, 2009 6:27am
I have a question for any of you, in all seriousness- sometimes the wave analysis isn't in any order before a breakout. Maybe it is a news release or something else messing up the pattern.

Could someone shed some light on this for me?
  • #4,169
  • Jul 24, 2009 6:30am Jul 24, 2009 6:30am
for example-usd/cad


usd/chf-although it is not an entry due to the 89ema
  • #4,170
  • Jul 24, 2009 6:48am Jul 24, 2009 6:48am
It's Friday .. guys...
Still planning for new trades???

http://www.whoateallthepies.tv/jafsfsafafaas.gif

Sonic
  • #4,171
  • Jul 24, 2009 6:50am Jul 24, 2009 6:50am
im done for the day .. daily target not reached but pips is pips ...

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  • #4,172
  • Jul 24, 2009 6:50am Jul 24, 2009 6:50am
Here is a chart of Cad.
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  • #4,173
  • Jul 24, 2009 6:51am Jul 24, 2009 6:51am
Hell no! Just checking the charts!

Quoting sonicdeejay
It's Friday .. guys...
Still planning for new trades???

http://www.whoateallthepies.tv/jafsfsafafaas.gif

Sonic
  • #4,174
  • Jul 24, 2009 6:52am Jul 24, 2009 6:52am
haha . we post at the same time and about the same currency ..
  • #4,175
  • Jul 24, 2009 6:55am Jul 24, 2009 6:55am
Quoting LittleTrader
haha . we post at the same time and about the same currency ..

Yeah! If I had got up earlier, I would have gotten some pips on that too. It's just the wave that was flat. I know cad drops and keeps dropping due to oil though.

Can you give me some advice about waves being whacked sometimes before big moves?
  • #4,176
  • Jul 24, 2009 7:00am Jul 24, 2009 7:00am
I get up too early a flake out before NY opens.

Still as Sonic says, it is Friday and I don't like trading on Friday.
Starting to see instead of just looking.
  • #4,177
  • Jul 24, 2009 7:13am Jul 24, 2009 7:13am
Quoting sonicdeejay
Be Positive, but not over confident .Learn to take and learn to let go..

I may be the owner of this thread, but I too find myself, improve and learn alot from all the guys sharings, plus my ever growing bank acc...
That is the fruits of positive sharing...

Join the fun man...Let's Rock!!

http://i216.photobucket.com/albums/c...terh9/rock.jpg

Sonic
Well said Sonic,I really appreciate your sharing.
Lmarti21
  • #4,178
  • Jul 24, 2009 8:38am Jul 24, 2009 8:38am
Quoting Rastaman
DD

What kind of wave study do you recommend?
I did start to study Elliot waves but it became almost an esoteric hypothesis akin to Black Magic.

If you have any suggestions for reading material, I would be grateful.

Thanks in advance
Hi Rastaman,

What I meant was simply that we need to study how to identify clear swings that give us the H-HL-HH and L-LH-LL. S, first and foremost, concentrate your study on the very simple H-L-HH and L-H-LL sequences.

As far as Elliot Wave, I do study Frost and Prechter's book once or twice each year, mostly those sections that have to do with wave identification and wave personality. The fibonacci characteristics of EW is, as you already know, are valuable in projecting which S/R may be most important and reliable. Sonic has built those into the system by using the autofib tools.

The most important part of EW, in my opinion, is the section on the "personality of waves" and how to tell an impulsive (trending) wave form a corrective (choppy) wave.

One thing to think about with respect to the SonicR and EW is this: The real secret to the success of the SonicR is that it is designed to catch waves 3 and 5 of a 5 wave sequence (If you do not know anything about Elliot Wave, read the attached .pdf file). The SonicR entry point catches the move after the first correction off of an important high or low. A lot of folks know about Gann. What many folks do not remember is that Gann taught that the best place to enter a trade is to go long after the first correction after and important low and to go short after the first bounce following a decline from an important high.

In EW terms, third waves are the most powerful waves (again, read Frost and Prechter's EW book). SonicR is designed to buy/sell as wave 3 breaks the high/low of wave 1. Our TP1 should be placed at what becomes the end of wave 3 impulse(trend). Price then corrects in wave 4, and our TP2 should be place near what we anticipate to be the end of wave 5, which should end the rally/decline until the next move is ready to get underway.

BUT PLEASE, DO NOT GET BOGGED DOWN WITH THE ELLIOT WAVE MATERIAL. EVERYTHING YOU NEED TO LEARN THE SONICR IS PROVIDED BY SONIC IN THE SONICR MANUAL AND BY THE CONTRIBUTION OF MANY SONIKERS HERE ON THIS THREAD. THE ELLIOT WAVE STUFF SHOULD SUPPLEMENT YOUR STUDY OF SONICR, AND NOT REPLACE IT. LEARN SONICR FIRST, AND SAVE THE ELLIOT WAVE FOR AFTER YOU ARE COMFORTABLE AND PROFITABLE USING THE SONICR. PLEEEEEEEEEEEEEEEEEEEEEEEEEEEEASE!


Good Luck,

d-day
Attached File(s)
File Type: pdf Elliot Wave Basics Booklet.pdf   1.0 MB | 1,361 downloads
  • #4,179
  • Jul 24, 2009 9:03am Jul 24, 2009 9:03am
Quoting heartstart
Is this a valid entry?
Hi hearstart,

I am presuming that you are asking if it is a valid LONG entry. I do not see where you are asking about entry. If I had traded the EJ, the only thing close to a SonicR entry would have been in the vicinity of 134.5x-60, in my opinion. If you are asking if the level reflected on your chart would be a valid entry, I would have to say that I would not be a buyer up there.

I would suggest that when you post charts asking about entries, if you are using a black background, draw a white trendline at entry, a red trendline at stop loss, and yellow trend lines at your take profit 1 and take profit 2. This will help us help you, and it will also help you learn as well.

Now, I have a question for you - what are you using to have the swing lines drawn on your chart? I have a friend I have been helping and an indicator that drew those swing pivots would be a great help in teaching this new trader.

Thank you,

d-day
  • #4,180
  • Jul 24, 2009 9:48am Jul 24, 2009 9:48am
EJ Short

EP @ 1.3467
SL @ 1.3507 (-40)
TP1 @ 1.3437 (+30)
TP2 @ 1.3420 (+47)

While typing this, price bounced from lower channel, and as it is Friday, my stop loss is now at entry (breakeven).
Attached Image(s) (click to enlarge)
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