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Sonic R. System

  • #22,921
  • Jul 6, 2011 9:02am Jul 6, 2011 9:02am
Quoting Sunbrella
Yes, it is a kind of divergence, we talked about this several times during the past few weeks. Mainly occures before the last wave down in the trend direction on a given TF.



EWT counting: many ways but in general, you should heve a pic on the higher degrees first, then, going down for your trading TF. Regarding the latter one possible scenario is on the pic below.



foxybunny, to make it short EWT requires a lot of time, until you get sufficient experience. It is even possible to give up after a few months. But if you get beyond this phase,...

Thanks Sunbrella for your explanation.

I will look through your more recent posts to see what you discussed about the divergence.

I have read through some books (Robert Prechter main one) and attended some professional courses on Elliott Wave.
Still I find it hard to see and count where is the real Wave-1, so did not pursue much further.

Some professional traders have told me same key point as you in that to hunt only in Wave-3 and Wave-C, and only wait for them.
They are able to see the EW in large timeframe as well as small timeframe to M1.

Any more resources you can recommend to learn EWT in a better explanatory visual manner ?

Are you able to share the EW indicator you have show on your chart ?
  • #22,922
  • Jul 6, 2011 10:09am Jul 6, 2011 10:09am
Quoting foxybunny
Thanks Sunbrella for your explanation.

I will look through your more recent posts to see what you discussed about the divergence.

I have read through some books (Robert Prechter main one) and attended some professional courses on Elliott Wave.
Still I find it hard to see and count where is the real Wave-1, so did not pursue much further.

Some professional traders have told me same key point as you in that to hunt only in Wave-3 and Wave-C, and only wait for them.
They are able to see the EW in large timeframe as well as small timeframe...
Then the course you were attending was focusing mainly on the theory itself (you can read it from books) instead of the practical part "how to use it in the real life trading". Yes, this is the harder part because it needs guidance from real traders with experience - but my students who attended my training mainly got a lot of this part.

There are a few good ebooks addressing some questions of the practical part free of charge from elliottwave.com. Register yourself (it is free), then, you will get access to their free stuff. Books from Jeffrey Kennedy are good (because he is a good EWT trader). One is worth reading is the Ultimate Technical Analysis handbook where you can learn about slingshots, hooks, zero line reversals and Kennedy's channeling technique. Very useful stuff for EWT. Also you can download it from here:
http://www.trade2win.com/boards/atta...s-handbook.pdf

There is an other ebook, the Best of traders classroom from Jeffrey Kennedy, also must read covering how to identify set-ups with the ready-aim-fire technique.

Quote
Are you able to share the EW indicator you have show on your chart ?

Hey, your EWT training seems to be very weak (or it was really focusing on the theoretical blah-blah) if this still remained a question. Nothing special, it is a simple MACD indicator (you can download from the net a lot of different implementations for MT4), with standard 12,26,9 settings (24,52,18 also has its own benefits). In EWT you can benefit a lot from MACD since it can be used e.g. for confirmation your counting/supposed wave phase is OK (we use it completely differently compared to what you can learn on any "We make you a trader in 3 days" - like training).

Hope this helps, if you have any more questions pls PM me, let this topic to be what it was intended for.
Mind the gap
  • #22,923
  • Jul 6, 2011 1:40pm Jul 6, 2011 1:40pm
well done...

BTW there are missing a few numbers on EW...
born to speculate
  • #22,924
  • Jul 6, 2011 2:27pm Jul 6, 2011 2:27pm
ej trade from today

Attached Image (click to enlarge)
Click to Enlarge Name: ej_trade_enigma4x.jpg Size: 100 KB


only one trade missed this eu sonic setup.

enigma4x
enjoy my life ... and ride the waves - all what I do
  • #22,925
  • Jul 6, 2011 3:58pm Jul 6, 2011 3:58pm
We have a tons of super news coming up,, I suggest u take a break for today and tmlo if ur SL is tight..

It will swing big time..

For me, it gonna fun..
Sonic
  • #22,926
  • Jul 6, 2011 6:06pm Jul 6, 2011 6:06pm
Quoting foxybunny
EU:

It has gone down about 150-pips today after Moody downgrade of Portugal.
Down to a low of 1.4285, then price seem to reject that low and move up quick.

Enter Long EU 1.4312 , this is a Sonic Scout, higher risk as it has not test the low yet, and also against recent down trend.

The above hit SL at BE+2, as I moved to BE quickly due to it being Sonic Scout.

After above entry, overnight saw EU hit a low of 1.4290, basically it meant it re-tested the low.
Now during early Asian session it has slowly gone up to 1.4325.
Holding no position as may wait for more active session to enter.
  • #22,927
  • Jul 6, 2011 6:11pm Jul 6, 2011 6:11pm
Quoting Sunbrella
Then the course you were attending was focusing mainly on the theory itself (you can read it from books) instead of the practical part "how to use it in the real life trading". Yes, this is the harder part because it needs guidance from real traders with experience - but my students who attended my training mainly got a lot of this part.

There are a few good ebooks addressing some questions of the practical part free of charge from elliottwave.com. Register yourself (it is free), then, you will get access to their free stuff. Books from Jeffrey...

Thanks for the resources as have not heard of Jeffrey Kennedy.

Pretcher's books seem more on theory even with some charts, harder for me to read.

Yeah, my EWT is weak.

I don't mean the MACD indicator.
I mean whether or not you can share the Elliot Wave Counting Indicator?
  • #22,928
  • Jul 6, 2011 6:34pm Jul 6, 2011 6:34pm
Quoting foxybunny
Thanks for the resources as have not heard of Jeffrey Kennedy.

Pretcher's books seem more on theory even with some charts, harder for me to read.

Yeah, my EWT is weak.

I don't mean the MACD indicator.
I mean whether or not you can share the Elliot Wave Counting Indicator?
I think wave count indicators repaint..
The best is to DIY..

Sonic
  • #22,929
  • Jul 6, 2011 8:15pm Jul 6, 2011 8:15pm
Quoting sonicdeejay
I think wave count indicators repaint..
The best is to DIY..

Sonic

Yes, expect Wave Count indicator to repaint.

Prefer to DIY wave count, just not good at it yet.

Just wanted to see it how it identify Wave.
It may be a Paid Indicator.

Anyway, would not use the indicator everytime as it will freeze my MT4 further, regardless whether it is a normal indicator or custom indicator.

Finish reading "ultimate-tech-analysis-handbook.pdf" that was kindly provided by Sunbrella.
A very good read and resource.

Had issue in understanding the concept and relevance of "Time Divergence" on page 45-46 ??

Looks like next few weeks my homework will be more on EWT.
  • #22,930
  • Jul 6, 2011 8:19pm Jul 6, 2011 8:19pm
Quoting enigma4x
ej trade from today

Attachment

only one trade missed this eu sonic setup.

enigma4x

Short or Long EJ ?
What entry ?

Could not clearly tell from your chart.
  • #22,931
  • Edited 9:14pm Jul 6, 2011 8:46pm | Edited 9:14pm
hi nice to meet u all . i am new to forex .and start using sonicR system to demo..so my question is nw is 11.40am gmt(+8) e/u 15 min chart is look like side way but the price is above the (three34 ema) look flat and below (89 ema) ..but on hourly chart is still downtrend..is it i need wait untill the 15 min chart go same direction with hourly chart then i start trade? ( sorrry for my poor english)thank
  • #22,932
  • Edited Jul 7, 2011 12:40am Jul 6, 2011 10:21pm | Edited Jul 7, 2011 12:40am
shorted EU with tight stop, try to have fun with small range before Big impact
Attached Image (click to enlarge)
Click to Enlarge Name: eu15.gif Size: 21 KB
seeing through
  • #22,933
  • Jul 6, 2011 11:09pm Jul 6, 2011 11:09pm
Until PA stays within the green channel (or breaks the upper border), correction is not over. Warning: speculation!
Attached Image (click to enlarge)
Click to Enlarge Name: EU_110707_m1_study.gif Size: 94 KB
Mind the gap
  • #22,934
  • Jul 6, 2011 11:45pm Jul 6, 2011 11:45pm
Quoting Sunbrella
Yes, it was a questionable SonicR trade as far as I can judge it (marked with 5 on my pic as a long set-up), it looked like much more forming a short set-up (marked with 4, see comments for 4). Your set-up TAH seems to be a SonicR like long set-up on H1 or H4 timeframe rather than M30. For me it is confusing to qualify this to be a SonicR long set-up when dragon is obviously sloping down.

I've tried to summarize all the potential SonicR trades on your chart, maybe worth discussing and you the experts can point out what was wrong with 3 and 4,...
Hi Sunbrella,

Have gone through reading most your posts, and all your posts within SonicR.
Majority of your posts make sense in regards to SonicR, EWT and Slingshot.

Pls refer to your above post and look at your chart attached there.
It was a Downtrend, with EWT count 1-2-3-4-5.
As it is a Downtrend, why was Wave-5 labelled ABOVE Wave-4 in this chart ??

Expect Wave-5 to be BELOW Wave-4 for Downtrend.

Seem I will be looking more attentively to the effects of this Slingshot as well, especially in relation to Sonic Scout.
Thanks.
  • #22,935
  • Jul 7, 2011 12:41am Jul 7, 2011 12:41am
Quoting pipphunter
shorted EU with tight stop, try to have fun with small range before Big impact
That's it.
Attached Image (click to enlarge)
Click to Enlarge Name: eu15.gif Size: 19 KB
seeing through
  • #22,936
  • Jul 7, 2011 12:57am Jul 7, 2011 12:57am
Quoting pipphunter
That's it.
why not to go long now here in the bottom ?
  • #22,937
  • Jul 7, 2011 1:01am Jul 7, 2011 1:01am
looking for level to short on gold, it need to be good level with good protection and tight stop....it may not happen today.. but no EU for me in next 12 hours
good luck
Attached Image (click to enlarge)
Click to Enlarge Name: gold 15m.gif Size: 19 KB
seeing through
  • #22,938
  • Jul 7, 2011 1:02am Jul 7, 2011 1:02am
Quoting pipphunter
That's it.
congrats! do you mind to share with me what was your entry criteria?
Thanks
  • #22,939
  • Jul 7, 2011 1:04am Jul 7, 2011 1:04am
Quoting kimis
why not to go long now here in the bottom ?
it's big impact news in next 5 hours so...the big boys may bring some big whipsaw to the chart, it's better wait and see....it's good to pass the oppotunities, in order to maintain mental stablity...
seeing through
  • #22,940
  • Jul 7, 2011 1:15am Jul 7, 2011 1:15am
Quoting pipphunter
it's big impact news in next 5 hours so...the big boys may bring some big whipsaw to the chart, it's better wait and see....it's good to pass the oppotunities, in order to maintain mental stablity...
Ya, mate. We need to fight the enemies inside ourselves..

Sonic
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