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Sonic R. System

  • #7,041
  • Oct 28, 2009 12:50am Oct 28, 2009 12:50am
Yes, I have been watching this pair all day and convincing myself it was going South until, I saw the break and retrace to just above the 61.8 fibo of the H1 rally. After which I put in a long order.
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  • #7,042
  • Oct 28, 2009 1:07am Oct 28, 2009 1:07am
Thought my SL was going to get hit with this sudden retrace.
Doesn't seem to be much volume in this retrace.

Could this retrace be the fake out?
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  • #7,043
  • Oct 28, 2009 1:10am Oct 28, 2009 1:10am
Quoting Rastaman
Thought my SL was going to get hit with this sudden retrace.
Doesn't seem to be much volume in this retrace.

Could this retrace be the fake out?
when it comes to entry or exit...vol is just an important secondary..it is just to help you trade better..but not the deciding factor…Pls keep that on mind..
Sonic Dragon…Wave Analysis..and S & R still the key…


Sonic
  • #7,044
  • Oct 28, 2009 1:32am Oct 28, 2009 1:32am
Hello sonikers,

I spotted a bear flag on the GU 4H
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  • #7,045
  • Oct 28, 2009 1:47am Oct 28, 2009 1:47am
Quoting sonicdeejay
when it comes to entry or exit...vol is just an important secondary..it is just to help you trade better..but not the deciding factor…Pls keep that on mind..
Sonic Dragon…Wave Analysis..and S & R still the key…


Sonic

That is why I went long with the HH HL and the breakout of the 61.8 fibo.
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  • #7,046
  • Edited 2:15am Oct 28, 2009 1:58am | Edited 2:15am
EU shows a bearish waves. There is a short sonic in preparation
Should i put a short trade on this one ?
For me there is some support just in front of a short
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  • #7,047
  • Oct 28, 2009 2:23am Oct 28, 2009 2:23am
Quoting Rastaman
Thought my SL was going to get hit with this sudden retrace.
Doesn't seem to be much volume in this retrace.

Could this retrace be the fake out?
Rasta...I am not sure of the LONG entry decision but ur SL is too uncool....
Why do u put in the range...

Make it clearer...

Sonic
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  • #7,048
  • Oct 28, 2009 2:24am Oct 28, 2009 2:24am
Quoting Rastaman
That is why I went long with the HH HL and the breakout of the 61.8 fibo.

I moved the SL to 5 pips below the MS1 line and it still got hit.


Well, what can I say?
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  • #7,049
  • Oct 28, 2009 2:25am Oct 28, 2009 2:25am
g/u wrong breakout up side and go down i m in short now lets c .......
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  • #7,050
  • Oct 28, 2009 2:34am Oct 28, 2009 2:34am
what ur TP for that??

1.628x level seem TP1 ..


Sonic
  • #7,051
  • Oct 28, 2009 2:37am Oct 28, 2009 2:37am
Quoting Muhammad989
g/u wrong breakout up side and go down i m in short now lets c .......

Did the exact same thing here. Glad to see that it wasn't only me.

I took 20 pips on the short and reentered for the long haul.
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  • #7,052
  • Oct 28, 2009 2:41am Oct 28, 2009 2:41am
TP 1 SET NOW adn lets c
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  • #7,053
  • Oct 28, 2009 2:51am Oct 28, 2009 2:51am
Quoting Muhammad989
TP 1 SET NOW adn lets c
Another 70 pips and we have the break of the low of Basber's Weekly pinbar.
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  • #7,054
  • Edited 3:20am Oct 28, 2009 2:57am | Edited 3:20am
First TP is not far away,
but if the PA breaks the support and continues to fall (see H4),
my second TP is pretty much on the long-term trendline.

EDIT: TP1 hit, Now waiting for the big break when NY opens
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cut losses short, let profits run.
  • #7,055
  • Oct 28, 2009 3:12am Oct 28, 2009 3:12am
Hi Sonic
i don't understand where i have to put my order.
(In a upternd) 5-7 pips above close of closed candle or 5-7 pips above shadow of closed candle. and vice versa in downtrend.
sorry i am a newcomer.
Thanks
  • #7,056
  • Oct 28, 2009 4:46am Oct 28, 2009 4:46am
tp hit and i m out now
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  • #7,057
  • Oct 28, 2009 4:49am Oct 28, 2009 4:49am
above 100 pips of E/U yesterday trade .... set my tp above 10 pips
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  • #7,058
  • Edited 5:02am Oct 28, 2009 4:50am | Edited 5:02am
Just closed out my second order for a total of 72 pips.
Was going to let a portion run but mistakenly hit the close order button on the full order.
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  • #7,059
  • Oct 28, 2009 4:50am Oct 28, 2009 4:50am
Muhammad and Rasta..
Nice trade... Dude..

Sonic
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  • #7,060
  • Oct 28, 2009 5:08am Oct 28, 2009 5:08am
Thanks Sonic.

Still there is yet another lesson learned in this trade.

All day I was set on GU going short and yet at the first sign of a possible long, I jumped in without confirming it with tunnel direction and CCI and got my SL hit. Lucky it was clear the Short was going to happen so I managed to jump with it in the right direction.

I will be more careful in the future.
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