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Sonic R. System

  • #7,181
  • Oct 30, 2009 10:20am Oct 30, 2009 10:20am
Quoting sonicdeejay
I wonder where is Muhammad now...

Sonic
He's going to Disneyland!
  • #7,182
  • Oct 30, 2009 10:26am Oct 30, 2009 10:26am
i m here guyz both tps Hit i m on the Mobile right now well c you all sonikers enjoy weekend
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  • #7,183
  • Oct 30, 2009 10:30am Oct 30, 2009 10:30am
i need some help i request to Sonic TAH and DD if u feel help me then this is my email address Hotmail ( [email protected] )
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  • #7,184
  • Edited 10:48am Oct 30, 2009 10:34am | Edited 10:48am
Quoting ddaytrader
TP1 hit for a quick +70. I have four TPs to choose from, and I am going with TP3, which is at 132.00 for +141.

Keep It Simple, Sonikers!
ddaytrader, my FEs never match yours. And it is hard to tell from your charts what your numbers precisely are. Whenever you have time, it would help if you could add to your fib tools the actual price numbers to appear on the extension lines.

Edit: As you can see, my FE 162% is at 133.40, not 133.74 as your chart indicates. ?.
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  • #7,185
  • Oct 30, 2009 10:47am Oct 30, 2009 10:47am
Quoting traderathome
ddaytrader, my FEs never match yours. And it is hard to tell from your charts what your numbers precisely are. Whenever you have time, it would help if you could add to your fib tools the actual price numbers to appear on the extension lines.
I do not know how to do that, TAH. I use the following anchors on this analysis:

135.19 high anchor, 134.42 pivot low anchor, and 135.04 reaction high anchor.

This gave me the following extensions:

TP1 = 1.618 = 133.75
TP2 = 2.000 = 133.46
TP3 = 2.168 = 132.96
TP4 = 4.236 = 131.65

In my previous post, I wrote that I was using TP3 at 132.00 This was a misprint. I meant to typ 133.00, which is +141 pips from my entry. I do not use the fib extensions precisely. I will adjust my orders based upon S/R, round numbers, floor pivots, etc.

Let me ask you this, TAH: When you use the fib extensions, are you pulling the third anchor back to the reaction point, or are you just using two anchors? If you are using just two anchors, you will not get targets that are farther away.
  • #7,186
  • Oct 30, 2009 10:50am Oct 30, 2009 10:50am
GU: Tp1 reached.
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  • #7,187
  • Oct 30, 2009 10:50am Oct 30, 2009 10:50am
Quoting ddaytrader

TP1 = 1.618 = 133.75
TP2 = 2.000 = 133.46
TP3 = 2.168 = 132.96
TP4 = 4.236 = 131.65
Price reached TP2, so my stop loss is now at TP1. My TP order is at 133.00
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 10-30-2009 Sonic Short5.jpg Size: 97 KB
  • #7,188
  • Oct 30, 2009 11:00am Oct 30, 2009 11:00am
ddaytrader, if you go back now and look at my questioning post, which I have added a chart to, you will see the fib results I am getting.

MT4 fib retracement tool uses two anchors, and the fib extension tool uses 3 anchors. But to both tools you can add, hence you will see I used the FR tool for simplicity that also shows the FEs in both directions. My top and bottom anchors are per your posted charts, but the results disagree.
  • #7,189
  • Oct 30, 2009 11:28am Oct 30, 2009 11:28am
Quoting traderathome
ddaytrader, my FEs never match yours. And it is hard to tell from your charts what your numbers precisely are. Whenever you have time, it would help if you could add to your fib tools the actual price numbers to appear on the extension lines.

Edit: As you can see, my FE 162% is at 133.40, not 133.74 as your chart indicates. ?.
You need to use the fib extension tool, and not the retracement tool as many here on FF do.

You are measuring the swing from the 134.42 pivot low anchor up to the 135.04 reaction high anchor, and you are then adding the extension to the 134.42 pivot low.

The fib extension tool measures the swing from 135.19 high anchor to the 134.42 pivot low anchor, and then adds that extension to (from) the 135.04 reaction high anchor.
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Click to Enlarge Name: EJ 10-30-2009 Sonic Short8.jpg Size: 131 KB
  • #7,190
  • Oct 30, 2009 11:33am Oct 30, 2009 11:33am
Quoting sonicdeejay
I am counting my week loot now...





Sonic
I had a record week as well since becoming a Soniker: Net Profit for the week 10/26-10/30 = 765 Sonic Pips!

Thanks for sharing your system with us, Sonic!
  • #7,191
  • Oct 30, 2009 11:43am Oct 30, 2009 11:43am
Quoting ddaytrader
You need to use the fib extension tool, and not the retracement tool as many here on FF do.

You are measuring the swing from the 134.42 pivot low anchor up to the 135.04 reaction high anchor, and you are then adding the extension to the 134.42 pivot low.

The fib extension tool measures the swing from 135.19 high anchor to the 134.42 pivot low anchor, and then adds that extension to (from) the 135.04 reaction high anchor.
Like you say, keep it simple. If you want a 162% extension of the spread between 134.42 and 135.19, in the downward direction, it must be off of 134.42 and takes you down to 133.17......

On the other hand, if you want a 162% extension of the spread between 135.05 and 134.42, it takes you down to 133.39....

Anything other than that very clear math is an error!

Edit: Note, I used 162%, whereas the actual fib tool uses 161.8%, which will vary the results by a pip or so.....insignificant relative to the point being made here. The math is easy to do. Just get the spread (difference) between two levels, then get 162% of that difference, then subtract that 162% amount from the bottom level......
  • #7,192
  • Oct 30, 2009 11:56am Oct 30, 2009 11:56am
GU: Ep1 to Tp1 = 70 pips. Closed. Re-entered: Ep2 to Tp1 = 45 pips. Total for trades = 115 pips.
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  • #7,193
  • Oct 30, 2009 12:05pm Oct 30, 2009 12:05pm
Quoting traderathome
Like you say, keep it simple. If you want a 162% extension of the spread between 134.42 and 135.19, in the downward direction, it must be off of 134.42 and takes you down to 133.17......

Anything other than that very clear math is an error!
I am not sure what you are saying here, TAH. A 1.62 extension of the 135.19 to 134.42 swing, you must subtract the value of that extension from 135.05, not from 134.42. Using whole numbers you would have this

135.19-134.42 = 77

77 * 1.62 = 124

135.05 - 1.24 = 133.81

My value was actually about 133.75, but the fib tool, as you note, uses 1.618, not 1.62, and also the fib tool takes into account the fractional pips, and does not round up and down as I did here. You are subtracting the 1.24 from 1.34.42. That is a common error here on FF, but it is an error nonetheless. This is why the fib retracement tool should not be used as a fib extension tool except for finding 1.10-1.27 reversal areas. Otherwise, the manner I describe, which is the manner in which the extension tool is designed to be used, is the proper use of fib extensions to anticipate S/R.

Here is current price action showing a direct bounce off of the 2.618 as measured from 135.05, and not from 134.42 as you suggest it ought to be.
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Click to Enlarge Name: EJ 10-30-2009 Sonic Short8.jpg Size: 131 KB
Click to Enlarge Name: EJ 10-30-2009 Price at 2621.jpg Size: 130 KB
  • #7,194
  • Oct 30, 2009 12:07pm Oct 30, 2009 12:07pm
Quoting traderathome
then subtract that 162% amount from the bottom level......
You need to subtract it from the reaction high, not the initial swing low.
  • #7,195
  • Oct 30, 2009 12:11pm Oct 30, 2009 12:11pm
Quoting ddaytrader
You need to subtract it from the reaction high, not the initial swing low.
Wrong.

The whole meaning of "a 162% extension" is that the run out (extended) from the range (the spread/diff between H and L) is measured from the breakout level.....THAT is what gives meaning to the LENGTH of the run....it is 162% BEYOND the breakout side!!!!!!!!

Edit: If you subtract the 162% distance from the side opposite the breakout, then in reality you are arriving at a place that is only a 62% EXTENSION!!!!!!! OF THE RANGE!!!!!!

Edit: Sorry, I apologize for the caps.
  • #7,196
  • Oct 30, 2009 12:21pm Oct 30, 2009 12:21pm
DD and TAH, I think you guys are referring to Extensions and Projections. Both of you are right
  • #7,197
  • Oct 30, 2009 12:37pm Oct 30, 2009 12:37pm
Quoting ddaytrader
I am not sure what you are saying here, TAH. A 1.62 extension of the 135.19 to 134.42 swing, you must subtract the value of that extension from 135.05, not from 134.42. Using whole numbers you would have this

135.19-134.42 = 77

77 * 1.62 = 124

135.05 - 1.24 = 133.81

My value was actually about 133.75, but the fib tool, as you note, uses 1.618, not 1.62, and also the fib tool takes into account the fractional pips, and does not round up and down as I did here. You are subtracting the 1.24 from 1.34.42. That is a common error here on FF, but...
Here I have taken the measure of the first High to Low swing. Then I have moved that measure over and down so it starts from the second lower High and extends downward. In this senario, the 162% FE of the original swing distance, applied to the second lower high, takes you down to 133.03.

The results you are getting may work fine, but they do not represent 162% of anything that we are dealing with here, so far as I can see.
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  • #7,198
  • Oct 30, 2009 12:43pm Oct 30, 2009 12:43pm
Here is the measure of the first H to L swing, not moved!
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  • #7,199
  • Oct 30, 2009 12:45pm Oct 30, 2009 12:45pm
And here is the measure of the second swing from the first low to the lower second high, not moved:
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  • #7,200
  • Oct 30, 2009 12:50pm Oct 30, 2009 12:50pm
Thank you traderathome!
Very useful examples of placing TP orders!

P.S. Check the e-mail
cut losses short, let profits run.
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