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

Igrok, would the gbp at 1.9860 or so a good place to jump in for short with 25% of a full position, to scale in, to ride to about 1.96?? Its crossed over a little from the upper down channel trendline on the 4hr and currently resting at 200sma moving avg. I think 1.95 maybe out of reach by the end of this month??

[IMG]file:///D:/Interbank%20FX%20Trader%204/templates/pound%20daily%20chart.gif[/IMG]

[IMG]file:///D:/Interbank%20FX%20Trader%204/templates/pound%204hr%20chart.gif[/IMG]
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Quoting ilanr
But there's still room for it to touch 1.9900 within the next couple of days, isn't there?
I meant a situation like today: touching the upper border of the Cable downtrend channel that started on May the 1st. Not that I was 100% sure of this scenario: I was stopped out of two short positions today on the way here... Anyway, I'm short now again. If Cable will flow beyond 1.9872-ish, then I will not know, what to think...
sans peur et sans reproche
1.9875 is a minimum Cable has to get to because of some divergences on MACD. The daily range seems to be in place by now but it has something to do for the rest of the day. Their crosses on the JPY also look suspicious to me. EUR/JPY can't get through the fibo, while GBP/JPY so far has been perfectly symmetrical this year. If this symmetry continues, then it must reach 228.20 which is the bottom of January. It sounds absolutely insane, but I have already seen even more bizzare things happening in the market.
Igrok, With the BOE confirming atleast another interest rate hike, wouldn't that be bullish for the moment for the pair and any short would be risky?? Do you see the pair reaching 2.00 again with the rate hike anticipation?
Quoting megamo
Igrok, With the BOE confirming atleast another interest rate hike, wouldn't that be bullish for the moment for the pair and any short would be risky?? Do you see the pair reaching 2.00 again with the rate hike anticipation?
I don't know. After last weeks closing, a new low of the year seem to be practically guaranteed. What is going to happen before then, I have no idea.
Quoting Igrok
Because longer-term trading is different from intraday. Timing and range are obviously too wide in order to develop any reasonable trading plan at any given moment for a leveraged position. Usually the market provides a trader with just two opportunities a year to enter into a longer-term position targeting anything from 1/2 to a whole annual range. Those are the trades of opportunity and can be taken from very specific major levels bordering some major formations in order to be able to place reasonable stops if a trade goes wrong. There is no major technical level close to the current level on GBP/CHF . It just doesn't make sense to discuss longer-term views on this pair at the moment as no real trade can be suggested.
understood.
BAM BAM BOOM! -bravado
Quoting Igrok
while GBP/JPY so far has been perfectly symmetrical this year. If this symmetry continues, then it must reach 228.20 which is the bottom of January.
Short introduction to this thread: I read along quite regulary, I like the way you see things and I got (and read) your book, which I found fully worth it's money.

What do you understand as to GBPJPY to be symmetrical? Repeating wave paterns? I would agree there. So in your opinion you would be rather supprised if we trend much further up?
Quoting fukinagashi
Short introduction to this thread: I read along quite regulary, I like the way you see things and I got (and read) your book, which I found fully worth it's money.

What do you understand as to GBPJPY to be symmetrical? Repeating wave paterns? I would agree there. So in your opinion you would be rather supprised if we trend much further up?
Market often symmetrical. Lots of patterns are based on geometrical symmetry, such as symmetrical triangles, rhombs (diamonds) and so on. In this case , if you take this year alone and compare each month against the month of March you will see that the left part is amost symmetrical to the right agains the vertical axel going through the bottom of March. Even ranges of February and April are almost identical in length and in levels where the tops and bottoms are. To continue this symmetry developing, GBP/JPY has to turn around somewhere at around current levels to reach the low of January or something near it. It is not exactly what we have to trade on since it's not a trading signal, but whenever possible it can be taken into the account especially when projecting targets on existing positions. I used to measure angles between different lines and horizon and compare with each other. It often works pretty well when there is something triangular building on the charts.
Cable likely near-term.
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hi Igrok,
I thought you mentioned that a diamond is more likely to break in the reverse direction.
In this case , wont it break up instead of down
Quoting jotty
hi Igrok,
I thought you mentioned that a diamond is more likely to break in the reverse direction.
In this case , wont it break up instead of down
The picture shown is the most probable and ideal scenario, as the break normally occures in the direction opposite to the direction of the largest diagonal. However, it doesn't mean that everything will go as planned. This entire game is about probabilities and trading stops must be used to correct possible deviations from those ideal outcomes. There is always a choice for a trader how and when to use those signals. Trading inside of a developing pattern is usually riskier than trading on the break after it gets fully formed, but could also be more profitable as targets and sequences are obvious if everything goes by the ideal scenario. If not sure about the future, then wait till it breaks out of the pattern and take your position then.
Igrok
what do you think of the EUR/CHF pair
do we take a long base on the ascending channel and the main move of the month being up
Igrok do you use volume to find significant support/resistance? low or high timeframes? i have a futures account and charting and candles of high volume establish significant levels at their close. i'm wondering if this is something you use. I've read your book and your templates are impressive. no one else has come close to this.
thank you,
jeff swanson
It really is that easy.
Quoting jotty
Igrok
what do you think of the EUR/CHF pair
do we take a long base on the ascending channel and the main move of the month being up
The upper border of the channel can be the target but I have no idea how to use this projection at this moment. I trade on opportunities only whch means that I have to know where to place stops in advance. Here I can't see any reliable level for it.
Quoting THE FxORCE
Igrok do you use volume to find significant support/resistance? low or high timeframes? i have a futures account and charting and candles of high volume establish significant levels at their close. i'm wondering if this is something you use. I've read your book and your templates are impressive. no one else has come close to this.
thank you,
jeff swanson
There is no volume indicator in the spot market.
Igrok,

What is yr trading edge ?

I would like to hear your.
The future depends on what we do in the present.
Quoting compro99
Igrok,

What is yr trading edge ?

I would like to hear your.
What do you mean? Performance? Usually I target about 60% annually with 1:2 - 1:5 leverage and make about 10 trades a month in average.
Would someone please tell me where I can download the Igrok indicators? Has anyone figured out why some of the indicators will not go on a chart? A frind of mine still cannot put Big Trend, Signal Lines. Slope Direction Lines, and Execute Lines on his Chart. Thank You
Igrok,

The EUR/JPY broke through the 164 barrier, does this change your view on its direction? I ask because i remember you saying somewhere in this thread that once a line is broken thats it.

Cheers
Quoting disbar
Would someone please tell me where I can download the Igrok indicators? Has anyone figured out why some of the indicators will not go on a chart? A frind of mine still cannot put Big Trend, Signal Lines. Slope Direction Lines, and Execute Lines on his Chart. Thank You
Disbar, you probably refer to an Igor who is active at another thread here: http://www.forexfactory.com/showthread.php?p=1451714. Igrok is another person.
sans peur et sans reproche
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