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

  • #321
  • May 16, 2007 4:15am May 16, 2007 4:15am
Quoting ilanr
I'm surprised to read this. Many of your templates are based on range breakout. Doesn't the existence of a range imply that until some moment horizontal lines served as S/R?
The tops like the one formed in 1998 has become a resistance only at the time when it's been formed. It's a disposable one. The next approach to that level and levels alike almost always mean a certain break and therefore don't work as a resistance any more. Such tops should rather be considered as just levels where a bunch of technical clowns place their stops above. This is why trading on the break-outs makes sense sometimes, but taking opposite position ahead of such level makes sense only and when such top is the high of a certain period of time (day, week, month , year) or a part of a technical formation like a channel, a rectange or else.
  • #322
  • May 16, 2007 4:26am May 16, 2007 4:26am
Quoting Igrok
---snip--- taking opposite position ahead of such level makes sense only and when such top is the high of a certain period of time or a part of a technical formation like a channel, a rectange or else.
Ok, sure, this clarification helps. Of course, a single-time level as the October 1998 one doesn't mean much. Thanks.
sans peur et sans reproche
  • #323
  • May 16, 2007 4:31am May 16, 2007 4:31am
Quoting MarkGavalda
Okay thanks for that info. Please respond to the other part of my question if you have time. Thanks
Anything , even one pip, above the resistance or below the suppost is a break. however false breaks happen sometimes. A false break is as good as a real one because it means that the market has chosen the opposite direction to go to.
  • #324
  • May 18, 2007 1:56am May 18, 2007 1:56am
Closing below 1.9800 today on cable practically guarantees that we will see 1.85 before the end of this year.
  • #325
  • May 18, 2007 2:14am May 18, 2007 2:14am
Quoting Igrok
Closing below 1.9800 today on cable practically guarantees that we will see 1.85 before the end of this year.
But there's still room for it to touch 1.9900 within the next couple of days, isn't there?
sans peur et sans reproche
  • #326
  • May 18, 2007 2:20am May 18, 2007 2:20am
Quoting ilanr
But there's still room for it to touch 1.9900 within the next couple of days, isn't there?
Don't think so. I guess 1.92 is coming before 1.99. I would say in 2-3 weeks from now.
  • #327
  • May 18, 2007 2:33am May 18, 2007 2:33am
It's a broadening triangle outlined by two red lines. Likely to turn into a reversal diamond later. The blue line is the targer for this year.
On the second picture there is a beautiful bearish divergence on Weekly MACD that initially targets the low of the year. Almost every longer-term trend ends up with such signal. The crossover should be confirmed today.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Weekly FXBPUSMUL.jpg Size: 38 KB
Click to Enlarge Name: Weekly FXBPUSMUL, MACD (FXBPUSMUL, 12, 26, 9).jpg Size: 41 KB
  • #328
  • May 18, 2007 3:12am May 18, 2007 3:12am
Hmm. On one hand, I'm glad to find out I chart the cable the same way you do. On the other, your ability to spot diamonds in the mud is still beyond my imagination.
sans peur et sans reproche
  • #329
  • May 18, 2007 3:16am May 18, 2007 3:16am
Quoting ilanr
Hmm. On one hand, I'm glad to find out I chart the cable the same way you do. On the other, your ability to spot diamonds in the mud is still beyond my imagination.
Whatever I don't know about charting nobody would ever need to know.
  • #330
  • May 18, 2007 4:47am May 18, 2007 4:47am
Fourth touch of the trendline. Might be a "kiss of death".
Attached Image (click to enlarge)
Click to Enlarge Name: Daily FXEUUSMUL.jpg Size: 35 KB
  • #331
  • May 18, 2007 8:58am May 18, 2007 8:58am
Quoting Igrok
Fourth touch of the trendline. Might be a "kiss of death".
What do U mean by Kiss of Death..Thanks
  • #332
  • May 18, 2007 9:05am May 18, 2007 9:05am
Quoting forexnovice
What do U mean by Kiss of Death..
this is the main intrayear trendline. the break would change the direction of this year trend. fourth touch usually guarantees such break.
  • #333
  • May 19, 2007 2:32pm May 19, 2007 2:32pm
Quoting Igrok
It's a broadening triangle outlined by two red lines. Likely to turn into a reversal diamond later. The blue line is the targer for this year.
On the second picture there is a beautiful bearish divergence on Weekly MACD that initially targets the low of the year. Almost every longer-term trend ends up with such signal. The crossover should be confirmed today.
hi Igrok,
the first chart you posted is that a weekly chart. Can you post a zoom out version of it. I am trying to figure out which points you use for your trendlines for the diamond. Is the diamond created by the 2 red lines and the 1 blue line.
or is it the small diamond on top made up of 2 red line.
the 2nd chart you posted what timeframe is that on

Thanks!
  • #334
  • May 19, 2007 4:08pm May 19, 2007 4:08pm
Quoting jotty
hi Igrok,
the first chart you posted is that a weekly chart. Can you post a zoom out version of it. I am trying to figure out which points you use for your trendlines for the diamond. Is the diamond created by the 2 red lines and the 1 blue line.
or is it the small diamond on top made up of 2 red line.
the 2nd chart you posted what timeframe is that on

Thanks!
It is not a diamond yet. Just a brodening triangle on weekly cable between two red lines. Here is the zoomed version:
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly FXBPUSMUL.jpg Size: 33 KB
  • #335
  • May 19, 2007 4:09pm May 19, 2007 4:09pm
Eventually it is likely to look like this:
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly FXBPUSMUL projection.jpg Size: 33 KB
  • #336
  • May 19, 2007 4:16pm May 19, 2007 4:16pm
Bigger picture:
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly FXBPUSMUL projection 2.jpg Size: 36 KB
  • #337
  • May 19, 2007 4:37pm May 19, 2007 4:37pm
thank you for the quick reply Igrok
  • #338
  • May 20, 2007 2:29am May 20, 2007 2:29am
thank you for the charts Mr Igrok
please keep posting it

thank u
  • #339
  • May 21, 2007 10:31pm May 21, 2007 10:31pm
Looks like a credible technical top has been reached on NZD/USD.
Attached Image (click to enlarge)
Click to Enlarge Name: Monthly FXNZUSMUL.jpg Size: 36 KB
  • #340
  • May 22, 2007 3:39am May 22, 2007 3:39am
Hello Igrok, I uploaded a chart of the usdchf weekly.. Could you verify if I have drawn the trendlines accurately based on your book, because according to the way I have drawn it, usdchf weekly currently seeme to be forming a triangle if the usdchf makes a weekly top this week.. Even though I feel with such a strong trend, it may go and test the 1.25 level..

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfwkly.jpg Size: 66 KB
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