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Sonic R. System

  • #25,361
  • Aug 24, 2011 9:58am Aug 24, 2011 9:58am
Quoting hunter101
Please stay on thread... This is a sonic thread, if the '4' is an LL or LH or L or H, ect ect, plz correspond to it. Having multi systems on this thread is confusing and can only complicate matters. Sonic has made a success out of his system (and many others).
leg or part are common terminology of where you are at in a H L senario. Several have used it in this thread.
  • #25,362
  • Aug 24, 2011 10:04am Aug 24, 2011 10:04am
and the EU hits 1.4400 and my down trade is out.
  • #25,363
  • Aug 24, 2011 10:07am Aug 24, 2011 10:07am
retracements
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  • #25,364
  • Aug 24, 2011 10:14am Aug 24, 2011 10:14am
Quoting TRMZXT
retracements
usually when there is a retracement..what do you mean? like in this case...should we perform a buy and take quick profit at the 0.500 fib?
  • #25,365
  • Aug 24, 2011 10:24am Aug 24, 2011 10:24am
Quoting shujiXakira
usually when there is a retracement..what do you mean? like in this case...should we perform a buy and take quick profit at the 0.500 fib?
depends.. most likely it will test again... Wait and remark the retracement levels if it does go beyond it. I am half out and still long at 1.4400 which always seems a area in which price likes. alot of resistance levels below. need to watch waves for weakness and strength.
  • #25,366
  • Aug 24, 2011 10:31am Aug 24, 2011 10:31am
AU:

Short, EP = 1.0476.
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  • #25,367
  • Edited 10:44am Aug 24, 2011 10:33am | Edited 10:44am
Yep went through but weak.... Watch turn up. Might be a better position later for a bounce of the Dragon down. in between .382 and .5 near major resistance areas up. Always wait for failure on retest to measure but always check levels which I do often. when you see short chop down movements (little fibs) confidence is getting thin but some want to push for the stops. funny to watch.

.5 is right on the trend line form earlier. hmmmm

Will need to see if restest of new low.
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  • #25,368
  • Aug 24, 2011 10:40am Aug 24, 2011 10:40am
Quoting shujiXakira
usually when there is a retracement..what do you mean? like in this case...should we perform a buy and take quick profit at the 0.500 fib?

Also .500 is common but the best thing to do is use the retracement tool and look at surrounding areas of S/R levels in relation to FIB levels. Amazing how many time .500 is a major S/R.
  • #25,369
  • Aug 24, 2011 10:51am Aug 24, 2011 10:51am
looks like a little profit taking about to happen or simple lack of confidence and London session about to end.
  • #25,370
  • Aug 24, 2011 11:06am Aug 24, 2011 11:06am
Quoting nando_rich
2nd trade today...

UC...long...

Let me see

Regards.
Out...+50pips.

Near of TP1 + S&R + Sup-demand zone.

The london sesion is over so i prefer to see what happen after outside.

Regards,
Nando.
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"Being picky only cost your time - not MONEY"...Hans
  • #25,371
  • Aug 24, 2011 11:23am Aug 24, 2011 11:23am
I'm gone to lunch. Move my SL to above last wave. Watching this junk is for the birds.

BWAHAHA as soon as I said that it moves.
  • #25,372
  • Aug 24, 2011 11:41am Aug 24, 2011 11:41am
Comment on GU and EU:

GU has given up the ghost today. EU has been "rescued" again before falling below previous lows. But EU is now below the Dragon, below the pivot and clawing to remain above the Trend line!

The euro is suddenly that much stronger than the British Pound?

.....looking to short EU.
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  • #25,373
  • Edited 12:31pm Aug 24, 2011 11:43am | Edited 12:31pm
Quoting traderathome
Comment on GU and EU:

GU has given up the ghost today. EU has been "rescued" again before falling below previous lows. But EU is now below the Dragon, below the pivot and clawing to remain above the Trend line!

The euro is suddenly that much stronger than the British Pound?

.....looking to short EU.

interesting... Up move is very weak on the leg after the big down. If the market is going to do a proper 4 part wave of at least 50%. It will be a major move down. It might just his the bottom but it would be a good entry on the 5 probably to have good spacing get some pips should it bounce . something to keep a eye on. Time wise 2:00-2:30 or so it should be near the dragon on the 15 at this pace. Resistance around 1.4428 for a possible bounce down.
  • #25,374
  • Aug 24, 2011 12:31pm Aug 24, 2011 12:31pm
EU:

Short, EP = 1.4422. The PA wave may change if PA continues higher, but this looks like a good place for entry since PA was worked back up to the Trend line.
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  • #25,375
  • Aug 24, 2011 12:36pm Aug 24, 2011 12:36pm
traderathome....

at resistance and DPV
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  • #25,376
  • Aug 24, 2011 12:41pm Aug 24, 2011 12:41pm
Quoting traderathome
EU:

Short, EP = 1.4422. The PA wave may change if PA continues higher, but this looks like a good place for entry since PA was worked back up to the Trend line.

lol thinking the same thing. I am in at 1.4422
  • #25,377
  • Aug 24, 2011 12:45pm Aug 24, 2011 12:45pm
Is this goes down and to .500. Look at where it goes to. Could be a huge move if ot breakes that resistance. .382 is at the bottom of the last major move down. Will take half profit at that S/R and let the other go wherever.
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  • #25,378
  • Aug 24, 2011 12:51pm Aug 24, 2011 12:51pm
Quoting TRMZXT
traderathome....

at resistance and DPV
Yes.....

at resistance
at PVT
at quarter number
at FR 38% retrace

....and they (the "Market") ran the price up the last way as soon as the Trend line mathematically came to confluence with all of that.

Late US session in mid-week can be a good time to catch pullbacks on basic moves, (imho). Now, to see how this works out. There is always the possibility the next gang of traders (asian session, next euro session, etc.) will move the price even higher, especially if this is slated for a good move down. After today though, maybe they have all had their fill at the highs.
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  • #25,379
  • Aug 24, 2011 12:53pm Aug 24, 2011 12:53pm
good start..
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  • #25,380
  • Aug 24, 2011 12:55pm Aug 24, 2011 12:55pm
Quoting traderathome
Yes.....

at resistance
at PVT
at quarter number
at FR 38% retrace

....and they (the "Market") ran the price up the last way as soon as the Trend line mathematically came to confluence with all of that.

Late US session in mid-week can be a good time to catch pullbacks on basic moves, (imho). Now, to see how this works out.

yep... if you are going to trade late session mid week is def good. Good support for down.
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