Sonic R. System

Beach boy..

Not that im experienced or a prof... but I wouldnt have put my TP1 over the 1.2350... I would have put it under... only because London is closed now and with the amount of trading this morning it was a good session.

Its just something I cover myself.. its a pivot number. I find that the price goes near it and bounces off (most of the time)

Just my 2p.

Oz

Hello Sonikers ! my point of view about the trade. I think you are in the case of a re-entry.
Re-entry rules :
retracement on fib 78/61/50 levels or
hammer or hanging man on retracement
and a tight stoploss.
These trades gives a good RR with small target compared to a classic sonic entry, but it is more risky.

Appeal to all Sonikers!

If you go back and look at Sonicdeejay's beginning charts, you will see the convention he uses for coloring EP, SL and TPs.

On black charts: EP= white, SL= red and TPs= blue.
On white charts: EP= black, SL= red and TPs= blue.

Frankly, I personally find it darn confusing when charts are posted with different color conventions, especially when there are a lot of other artifacts on the charts which the eyeballs have to work around to figure out what the dickens is going on! It makes me want to just move on to the next post without any further considereation. And I bet I am not the only one who feels this way.

So please, if everyone can stick to Sonicdeejay's example, it may help many here absorb more quickly, the essence of charts posted.

Thank you, all.

EU Watch:

As we moved into the London open this session (with the day now almost over), I thought there was the possibility for a long trade setup, with even a prospective EP created at the time. The whole number seemed to be providing some support. As it turned out, as PA has oscillated about the whole number, the greater movement was down.....bearish, as was the H4 chart.

Currently, H4 shows PA bouncing on the 89 ema Trend Line. For some reasons, I still have it in mind that we may see a PA climb. On the second chart (M15 chart) the Dragon is still inching down, but the angle is flattening and PA is now making higher lows.

This may be now into a ranging period from whence there will be an eventual breakout. If so, it might just run sideways until a more active part of a new days trading.

One other thing evident from the NVO study; on the PA's last highs, trading levels were below normal. This is unlike the three previous highs in what was a PA down trending wave pattern. So, perhaps traders are no longer confident about the near term prospects for additional downside movement. The third chart shows above normal NVO on all the hikes except this last one, which is followed by higher lows. It reminds me of the question, "How many trips can they make to the well, before it runs dry?"

The next question would be, if the run down is for the most part over, will the euro session trading nevertheless create a Double Bottom? It would be an opportunity for the profs to transition positions fom short back to long. They might pump it up a bit and then drive it down hard to the area of previous lowest lows. Such a move might encourage others to go short, while the profs close short positions and go long. WARNING: Speculation!

All that can be done now is wait to see what the market decides.

EU Watch:

The dump and convert might be happening now..... Asian profs first, then the euro profs take their turn?

my view on EU long

EU short TP will be ard 1.2170

My outlook is very much like yours regarding EP and SL. My TPs are closer, as I am less sure of a broader scale move right now. I have picked whole and half number targets closer in.

Beachboy, it would be of more value to the thread if you showed the whole chart, with some indication as to the reason for your choice of target(s).

due to i am trading while working its difficult to post more comment but i will try to share more when i have chance.

I also would like to thank you for your detail contribution. its really help me and other Sonic to understand the trade....

EU Watch, Long Trade Initiated:

Entry just a bit above the 3/4 number. It is still before London open, so the risk here is that those traders may slam it down just like the Asian profs did. If they do, hopefully it will be to close shorts and go long!

Waiting for :

I would wait for a pullback then enter at the break of the HL..hope it works out for you though.

Hello, took same long EJ

khairu, one of Sonic's rules is, "No picture, no post." In the case here of your suggestion, a chart showing the HL you refer to, and where you suggest entry to be, would be far more helpful than just the words. Maybe I am just tired, but I have no idea what you are saying.

The second chart is just a suggestion.

i would love to post a chart but currently away from a computer.Using my phone to read the thread.

Will do it properly next time.

Cheers

EJ long : charts looking scary. UJ testing support EU on heavy resistance. Maybe it is time to re-entry ? retracement on 61 fib and a hammer drawed,

Edit : I exited my position

Help me to understand what's was here wrong ?

Hope this help, I was stoplossed on this one but got the reverse

My EU and EJ short since London open... Both TP set at Support 3 .... Trail with 45 and 35 pips respectively... lets see how it goes...

Trade closed with +56 pips and 17 pips respectively....