Igrok Method. Q's & A's. Comments, thoughts and ideas

GBPUSD, EURUSD - #18.1, EURJPY - #18.2, USDCHF - #18.4....

Cuold be some more, these are just those whitch i was monitoring...

1. Cable 20.6 and 18.4 intra-week (which I would not advise due to lack of REAL trend);
2. UJ 18.4;
3. AUDUSD 18.4;
4. USCAD 20.6. If you missed the first break, you had a second chance on lower time frames.

AUD m5.

Edit: More Symmetrical version.

For my friends who likes to scalp GU triangle - penant break out, targeting bellow flat surface to daily range....

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Hello!
How do you trading false breakouts?
For example, when the price breaks the trend line and back out.
We get stop lose.
When we get stop lose, we can not do the reverse often, as described in the book. And how do you trading false breakout?
Or you do not immediately enter into a trade when price concerns the trendline? or you put a order for 10-15 pips below the point of contact trendline.

Thanks.

Hi fxairy,

If trading ascending/descending trendlines (20.6), the templates recommend entering the trade 5-10 pips after the break of the line. With the flat surfaces/TLs, there is nothing specific on where to place your trade, but I see nothing wrong with following the 5-10 pip rule above.

In any case, from what I've learned this week, before entering any trade you must analyse the whole price situation. Will the potential break match the main moves of the day or previous day? Will it go with the mid or longer term trends? Is price moving through a larger channel or other pattern on a larger timeframe for example? All these have to be taken into consideration before entering any trade, if only to increase the odds in our favour - thanks for the lesson Belekas

Also of importance:

Is your trendline valid? Does it connect 3 or more extreme high or low points. The 4th touch of the TL should be 'the kiss of death' and price should break through at that point, or soon after.

Where do you place your Stop Loss? The templates will usually recommend the other side of the daily range, or other technical level. This could be the top/bottom of the bar that broke the TL, but this will depend on the timeframe you use. I'm still learning where to place mine, I think this will come with experience and practise.

As for false breaks, well like I mentioned earlier, if everything is analysed correctly, and all your trends and main moves match where price will break towards, then I believe the likelihood of false breaks will be reduced. Sometimes price will break and then retrace for a while before resuming the break, where you placed your stop loss will be the deciding factor of whether your trade is a winner or not.

Anyways, this is just my 2pips worth, I'm still learning just like you. I'd appreciate it if anyone else would like to correct me or add to this discussion.

Peace and good day to you all.

I just lost this opportunity here:

UJ with symm. formation + 20.6 break + bull divergence.

1. Potential UJ in the makings. We still need an UTL for the right side.
2. AUDJPY precious on m5.

Here's an idea of something I just spotted on GBP/CHF. 4 hr unpaid debts above with three touches of TL with a break but didn't follow through. 15 min shows nice broadening with a potential dual diagonal....although right side is VERY VERY VERY ugly. Let's see if the picture becomes clearer. Trying to think of reasons to support the trade idea and stop placement...

A perfect 18.1 on eurgbp today

Nice touch on the 3rd approach

Perfect 18.4 on weekly basis too

Indeed it was sir. The picture looks much better now. Still have no idea how to take the trade though with a regular stop though. If trading the breakout of the pattern, the stop would have to be about 70 pips in order to get it behind a technical higher low. Otherside of intraday range is way too far.

BTW, you said 18.4 on EG intraweek basis? I see 18.1 for sure, but wouldn't we need to see a move up to about .8410 for intraweek 18.4?

Good point of view man, didn't figure it out at the beginning Anyway looks like another nice day for trading as volitality is quite good today safe trading guys!

I think I figured out why you said 18.4 on EG intraweek. 8418-8391=27 pips which is <30. Do I deserve a cookie?

Also, I was watching this unfold and thought it was interesting. Perfect symmetry from the tops on GBP/CHF in this channel. Would've been a 2nd touch though so not a template although it does support the 4 hr proper break. Wish the higher tf TL's were a bit more precise bc it was coming in really close to the bottom of that channel.

And what a sweet early pre London open #18.4 long I see from your chart...Great RR trade...sadly I don't trade this pair.

Yes I only noticed this after Mr.Diaz made his EG post. Need to sharpen the skills, but hey I was on a mini-vacation last week. Nice to be back in the groove again. Will be keeping an eye out for juicy set-ups. BTW, saw your EJ diamond post I think from last week....skills...lol.

Hi guys,

What do you think? Real diamond, or Fugazi?

A descending wedge IMO. A sell would be in my head if the price would travel back to the upper TL.