Igrok Method. Q's & A's. Comments, thoughts and ideas | Page 29 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Trading technical analysis system based on Igrok method 137 replies

Forex Ideas & Comments 18 replies

The IGROK files - Adventures of a rookie using the Igrok method 416 replies

Fibonacci thoughts & ideas.... 13 replies

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

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

  • #561
  • Oct 9, 2007 8:34pm Oct 9, 2007 8:34pm
Igrok,

How do you define a direction change, for example cable this week, the main direction this week is down, did it change to up during new york session and why?
  • #562
  • Oct 9, 2007 9:07pm Oct 9, 2007 9:07pm
Quoting Blackinc
Igrok,

How do you define a direction change, for example cable this week, the main direction this week is down, did it change to up during new york session and why?
It's easy. If the top of the week was formed first and before the bottom was formed then the direction of the main move is down and vice versa. Current week's top on Cable has been formed on Monday at 2.0444 and the bottom of the week so far is at 2.0257 which was hit yesterday. It means that the direction of the main move of the week is still down and will be changed only if Cable gets above 2.0444.
  • #563
  • Oct 9, 2007 9:20pm Oct 9, 2007 9:20pm
Quoting Igrok
It's easy. If the top of the week was formed first and before the bottom was formed then the direction of the main move is down and vice versa. Current week's top on Cable has been formed on Monday at 2.0444 and the bottom of the week so far is at 2.0257 which was hit yesterday. It means that the direction of the main move of the week is still down and will be changed only if Cable gets above 2.0444.
Excellent, very easy. Thank you.
  • #564
  • Oct 9, 2007 9:27pm Oct 9, 2007 9:27pm
I show last Fridays high as 2.0440... this week, the highest I see is 2.0426... at any rate, it seems all this is just a fancy way of saying the weekly candle is Red or Green...

But then, I will also admit, as I did several posts ago... the forex side of my brain is small.... so perhaps I am wrong...


Quoting Igrok
It's easy. If the top of the week was formed first and before the bottom was formed then the direction of the main move is down and vice versa. Current week's top on Cable has been formed on Monday at 2.0444 and the bottom of the week so far is at 2.0257 which was hit yesterday. It means that the direction of the main move of the week is still down and will be changed only if Cable gets above 2.0444.
  • #565
  • Oct 9, 2007 9:37pm Oct 9, 2007 9:37pm
And also if I may be so bold as to muddle things further... seems to me the move has been up... last week and so far this week has been retrace from the run up starting three weeks ago... and today price reversed when it bounced from the 38.2 fib of those two weekly up candles...

OK OK that's as deep as I know how to get... I am long GBP.USD by the way... for once on the right side of the trade...

Ok Igrok... back to you... just throwin in my 2 cents cause I could find nowhere else to throw them tonight !!
  • #566
  • Oct 9, 2007 10:10pm Oct 9, 2007 10:10pm
Quoting Tiki Trader
I show last Fridays high as 2.0440... this week, the highest I see is 2.0426... at any rate, it seems all this is just a fancy way of saying the weekly candle is Red or Green...

But then, I will also admit, as I did several posts ago... the forex side of my brain is small.... so perhaps I am wrong...
Different charts that I have show different tops of the current week on Cable. Perhaps 2.0426 is more accurate as the spike to 2.0444 appeared to happen in the very beginning of Monday when most of dealers were still closed.
When I'm talking about the "direction of the main move" it is not about the color of the candle. The candle can be of any color as it depends on the difference between "open" and "current". The practical use of this particular definition is based on the market's limited ability to change the direction of the main move whether it's a day, a week, a month or a year.
  • #567
  • Oct 9, 2007 10:17pm Oct 9, 2007 10:17pm
Quoting Blackinc
Excellent, very easy. Thank you.
Be careful with it now as there are some warning signs that the direction can be changed at least once again. The gap on USDX at 77.90 and a new one on the USD/CHF at 1.1739 have not been filled yet.
  • #568
  • Oct 9, 2007 10:35pm Oct 9, 2007 10:35pm
Quoting Igrok
Be careful with it now as there are some warning signs that the direction can be changed at least once again. The gap on USDX at 77.90 and a new one on the USD/CHF at 1.1739 have not been filled yet.
It was more to help when deciding on an intraday trade, stops etc.

But I don't understand what you're saying above? Are you saying the dollar should get weaker before it gets stronger to fill the gap at 77.90?
  • #569
  • Oct 9, 2007 10:59pm Oct 9, 2007 10:59pm
Quoting Blackinc
Are you saying the dollar should get weaker before it gets stronger to fill the gap at 77.90?
Yes. It might.
  • #570
  • Oct 11, 2007 9:49am Oct 11, 2007 9:49am
Quoting Igrok
It's easy. If the top of the week was formed first and before the bottom was formed then the direction of the main move is down and vice versa. Current week's top on Cable has been formed on Monday at 2.0444 and the bottom of the week so far is at 2.0257 which was hit yesterday. It means that the direction of the main move of the week is still down and will be changed only if Cable gets above 2.0444.
How would you define the main move for GBP on Oct (monthly basis) ?
The future depends on what we do in the present.
  • #571
  • Oct 11, 2007 10:24am Oct 11, 2007 10:24am
Quoting compro99
How would you define the main move for GBP on Oct (monthly basis) ?
Same thing. The top of the month was formed on the first trading day and traded lower ever since. The direction of the main move is down.
  • #572
  • Oct 11, 2007 10:34am Oct 11, 2007 10:34am
Igrok,

Thanks alot. It helps me better understand yr idea.

By understanding the main move for daily, weekly, mthly and yearly... it make things whole lottttt easier.
The future depends on what we do in the present.
  • #573
  • Oct 16, 2007 3:59pm Oct 16, 2007 3:59pm
I am sorry to bother you, but I have a few questions regarding your book,if you chose not to reply I am fine with it,well these are my questions:

1st of all, I don't get why you didn't pick GBP/USD among the pairs to trade.

2nd of all,regarding your templates, well when you say place a position on the opposite side of the range & make your entry on a new high or low(depending the case) what is your definition of new high or low,I mean do you set a stop order low/high+x amount of pips,or do you actually wait for a candle to close below/above the old low/high ? Since sometimes it is simply a spike.


3d of all, can you please explain to me the logic behind template 18.4

Thank you for your time
  • #574
  • Edited 6:46pm Oct 16, 2007 4:58pm | Edited 6:46pm
Quoting Engel
I am sorry to bother you, but I have a few questions regarding your book,if you chose not to reply I am fine with it,well these are my questions:

1st of all, I don't get why you didn't pick GBP/USD among the pairs to trade.

2nd of all,regarding your templates, well when you say place a position on the opposite side of the range & make your entry on a new high or low(depending the case) what is your definition of new high or low,I mean do you set a stop order low/high+x amount of pips,or do you actually wait for a candle to close below/above the old low/high ? Since sometimes it is simply a spike.


3d of all, can you please explain to me the logic behind template 18.4

Thank you for your time

  1. My method has been developed completely by 1997 or 1998 and the material, that I wrote and which later became the basis for the book, has mostly been written in 1998. At that time GBP/USD was forming much shorter average daily ranges than they are now and have been for a while. This is why I was not much interested in trading this particular pair then and did not include it in the list. Later I simply forgot to update this particular part of the book before publishing it. Nowadays all the templates can be used for trading Cable as well.
  2. I don’t use Japanese candles and never bring them on my screens. All the analysis I usually do on a regular bar chart. Therefore even when the market makes a single pip above the previous high or below the previous low (but only in those cases when by doing so a particular pair changes the direction of the main move of the day) it also changes the entire intraday outlook for me. The significance of inraday lows and highs is based on the logical assumption that most recently formed resistance or support very often have much bigger significance for intraday trading than the ones formed a while a
  3. Some time ago I wrote an article dedicated almost entirely to the template #18.4. It has been published in the July’s 2007 issue of the “Currency Trader Magazine”. Because of the copyright issues I cannot post the article here but you can get it from their website for free.

  • #575
  • Oct 16, 2007 7:26pm Oct 16, 2007 7:26pm
There appears to be a diamond on the usdchf daily. Although the first half looks a little rough on 1h/4h.

Note: I am using MT4 for charting which isn't so great at drawing TL's when switching between timeframes.
  • #576
  • Oct 16, 2007 10:43pm Oct 16, 2007 10:43pm
I've been reading your book and this thread...I like your take on things.
Using some charts could you please show us a setup that you see in the market that matches your trade templates? It's great to read your book and see your ideas, but it would be nicer to see something applied in real time...

Thanks,
A
  • #577
  • Oct 17, 2007 12:32am Oct 17, 2007 12:32am
Wow! Reached the end. During my read of the pages I took time to confirm what was said with the charts. (Confirmation) Alot of gold stars on your report card or should I say your bank account :-)

Also ordered the book and should get it by friday for a weekend read.

I have been taught to use the word correlation when talking about what other currency pairs are doing Cable & Euro go up against dollar Yen and Swiss go down agains Dollar.

Also Oil is a Canadian trade = If oil goes up the cad gains
Gold = Aussie = If gold goes up Aussie wins. Also Aussies trade (export) to china so china does well aussie does well.

Your thoughts? Igrok thanks and please dont go anyplace soon - I like your style.
All I ask is a chance to prove that money can't make me happy.
  • #578
  • Oct 17, 2007 1:29am Oct 17, 2007 1:29am
Quoting Snuffleupagus
There appears to be a diamond on the usdchf daily. Although the first half looks a little rough on 1h/4h.

Note: I am using MT4 for charting which isn't so great at drawing TL's when switching between timeframes.
This is definitely not a diamond. Though 1.1740 on swissy looks like a must to me before turning back up again.
  • #579
  • Oct 17, 2007 1:32am Oct 17, 2007 1:32am
Quoting BestCase
I've been reading your book and this thread...I like your take on things.
Using some charts could you please show us a setup that you see in the market that matches your trade templates? It's great to read your book and see your ideas, but it would be nicer to see something applied in real time...
Thanks,
A
The next set up for the EUR/USD could be to short it just as soon as USD/CHF reaches 1.1740 with stops above the current month's high at 1.4282. (template #18.4 used on intra-month basis).
  • #580
  • Oct 17, 2007 1:41am Oct 17, 2007 1:41am
Quoting telluv
Wow! Reached the end. During my read of the pages I took time to confirm what was said with the charts. (Confirmation) Alot of gold stars on your report card or should I say your bank account :-)

Also ordered the book and should get it by friday for a weekend read.

I have been taught to use the word correlation when talking about what other currency pairs are doing Cable & Euro go up against dollar Yen and Swiss go down agains Dollar.

Also Oil is a Canadian trade = If oil goes up the cad gains
Gold = Aussie = If gold goes up Aussie wins. Also Aussies trade (export) to china so china does well aussie does well.

Your thoughts? Igrok thanks and please dont go anyplace soon - I like your style.
My thoughts for the moment are very simple. With less then 2,5 months left till the end of the year, now USD is very likely to start an up swing at any moment to target at least 1.3200 before the end of the year. It also has a chance to get to as low as 1.1000-1.2000 if 1.3200 area main trendline level gets broken.
2 traders viewing now