Unless you enter the tiger's den you cannot take the cubs.
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Trading technical analysis system based on Igrok method 137 replies
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DislikedCable has just reached my "must reach" target at slightly above 2.0000. Guess it might make sense to consider shorting it on the next attempt above the figure to target 1.93 zone initially. It also might be the turning point for USD vs. other europeans.Ignored
DislikedIgrok, GBP is up exactly 250 pips from the level (1.9870) you had indicated. It's very difficult to decide to short here with such a parabolic move up. This is beginning to look like EUR/JPY journey! Any thoughts?
Thanks...Ignored
DislikedThe formation seems like a broadening triangle to me. By projecting it to turn into a diamond we should probably target 1.93 zone.Ignored
DislikedHow do you count the touches? I can see three already (March 14, April 9, April 10).
BTW, today's touch of the channel border at 2.0130 was so exact, so beautiful... This sort of things makes me think God moves the market...Ignored
DislikedIgrok,
You have repeatedly suggested not to unticipate things, but rather to wait for patterns to emerge. When you project a broadening triangle to turn into a diamond (which is still beyond my imagination...), does it have any practical implications for you, or it is just a possibility you are aware of, but don't base any decisions on?Ignored
DislikedBTW my biggest disapointment of the week was EUR/JPY related. It has been the most obvious trade recently. It turned around and went down after bouncing off of the upper border of a beautiful channel on daily that came exactly at 162.42 the day before yesterday. I placed a limit there ahead of time to sell it but because I drew the line not accuratey enough I missed this short position by just a few pips. My desire for making perfect trades sometimes makes me feel frustrated.Ignored
DislikedHi Igrok, according to you the eur/yen has changed its main direction from down to up after breaking through the previous highs on the weekly chart. Shouldnt we be lookin for long opportunities instead of shorting it.Ignored
DislikedHi Igrok,
I have been reading your book, it is very interesting and certainly out of the ordinary.
I have not yet tried out any of the templates,but I have 2 questions:
1. For templates where you do not say which timeframe chart to use (such as 19.1) should I use a 1 min, 5 min chart or what?
2. In many places you talk about the direction of the intermediate trend, but I can't see where you say what timeframe the intermediate trend would be seen on.
I know that this will vary dependent upon which timeframe the trading chart is. But how much bigger should it be?
For example would an intermediate trend for the 4hr chart be direction over the last 24hrs, or over the last week ?
Would the intermediate for a daily chart be the direction over the last week or the last month?
Thanks,
IanIgnored
DislikedHello Igrok, I've been looking at monthly and weekly charts for various pairs and its amazing what a difference that makes, especially when you see the price patterns historically. I noticed that top at 1998 in the eur/jpy as well and I figured thats why you were saying that might be the top, but I'm comforted in knowing that even you didn't have a concrete idea of where to place exact stops on that pair even though you see a top happening, cuz thats where my dilemma was as well. Anyhow, jus utilizing this method, I just raked in about 75 pips on the cad, seeing as gas prices are headed higher and the cad pair is on a strong move downward. I just wanted to know your opinion on the pair, do you see it breaking its historic lows of the 1.09 barrier, or do we consider looking at a long on the pair approaching that price level?Ignored
DislikedLooking at the Euroyen and poundyen.. looks likely they will break the major resistance and probably go higher.. 174.25 and 249.27 respectively.Ignored