retracements

Sonic R. System

and the EU hits 1.4400 and my down trade is out.

Sonic R. System

leg or part are common terminology of where you are at in a H L senario. Several have used it in this thread.

Sonic R. System

If the movement goes up and creates a 4 leg which is to a part 6(which is usually weak or it might break through new trend break. It could be hard move back through the dragon. Right now hitting resistance.

Sonic R. System

hope this helps... I could put a whole bunch of C&D of MACD on this chart but I think you can see it and the waves of the different timeframes.

Sonic R. System

foxybunny look at my chart which is a 1M in relationship to the 3M TF. I can see the 15M pretty much on my 3M though it is a MA not the actual dragon seen. With me and any chart for that matter I can see multiple TFs/charts above me and one chart ...

Sonic R. System

1.4400 is looking like a target.

Sonic R. System

to have a part one is to recognize simple H L HH HL or the reverse. You have to point to the origination of the start of the wave which is why my part one is where it is. That is why you are always reflectinback to see a wave. Part 3 to 4 is always ...

Sonic R. System

yeah... to have a trend as you know you have to have 4 points which makes 3 legs. HE starts a different point. Different teachers teach different things.

Sonic R. System

I count different than him as he starts at a different time than I do. If a trend ends the last high at the end of the trend is the beginning part. Which I base my continuous wave counting on the MACD on multiples TF with PA as new parts not simply ...

Sonic R. System

wave counting.

Sonic R. System

yep... weak up move that failed to make a part 6 and bam.... goes down. Middle of week... so Asian session usually has much more life if you are going to trade it.

Sonic R. System

Strictly Trendline and S/R's levels and the bull and bear in between. Add that with watching wave action counting of PA on 3 MACD's... good guess. lol

Sonic R. System

Yep... hit at the .500 fib and Resistance too....

Sonic R. System

I did get 31 pips out of the trade... just glad it was a comparable pair. LOL edit: 21 pips fat fingered.

Sonic R. System

yeah clicking the right pair to trade is a difficult art. HAHAHAHA

Sonic R. System

oh trust me I see price. When you hve 4 charts open of different time frames on on each pair you are trading. (I love esignal). No.. it is called CLICKING THE WRONG PAIR INTO A TRADE. LOL

Sonic R. System

sometimes you do the dumbest things. I need someone to smack me.

Sonic R. System

yep trend lines show long as well.

Sonic R. System

here are the extension levels on the GU. It is currently at .618 and level resistance.

Sonic R. System