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

  • #581
  • Oct 17, 2007 5:06am Oct 17, 2007 5:06am
WHY ???

I only ask because I am long here and my stop is 1.1750 !!!!



Quoting Igrok
This is definitely not a diamond. Though 1.1740 on swissy looks like a must to me before turning back up again.
  • #582
  • Edited 5:38am Oct 17, 2007 5:24am | Edited 5:38am
Quoting Igrok
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.
This is why I love this thread

Outside of the box =)

Thanks for sharing your thoughts =)
Trust price. Know yourself.
  • #583
  • Oct 17, 2007 11:13am Oct 17, 2007 11:13am
Quoting Tiki Trader
WHY ???

I only ask because I am long here and my stop is 1.1750 !!!!
There is a gap at 1.1740 that is likely to be covered before any significant retracement is seen. Besides, the direction of the main move of the week is still down.
  • #584
  • Oct 17, 2007 11:44am Oct 17, 2007 11:44am
Quoting Igrok
There is a gap at 1.1740 that is likely to be covered before any significant retracement is seen. Besides, the direction of the main move of the week is still down.
I am sorry, but what gap do you mean?
  • #585
  • Oct 17, 2007 12:00pm Oct 17, 2007 12:00pm
Igrok,

Regards to main move of the day, week, month and year.

How do u relate they together ? Or do u look at them separately for your decision making ? Hope you would elaborate more.. thanks.
The future depends on what we do in the present.
  • #586
  • Oct 17, 2007 12:00pm Oct 17, 2007 12:00pm
Quoting Altevich
I am sorry, but what gap do you mean?
There are in fact two unfilled gaps on dailies. The one on the swissy at 1.1740 and the second one on the USDX at 77.90. Some of the charting systems may not show that one on the swissy as the closing time is often different on some of them, but since USDX is traded on the exchange, its gap must be seen on the charts regardless of the data provider.
  • #587
  • Oct 17, 2007 1:42pm Oct 17, 2007 1:42pm
Quoting Igrok
There are in fact two unfilled gaps on dailies. The one on the swissy at 1.1740 and the second one on the USDX at 77.90. Some of the charting systems may not show that one on the swissy as the closing time is often different on some of them, but since USDX is traded on the exchange, its gap must be seen on the charts regardless of the data provider.
Sorry, but I can't find these gaps. When did they happen?
  • #588
  • Oct 17, 2007 2:31pm Oct 17, 2007 2:31pm
Quoting Altevich
Sorry, but I can't find these gaps. When did they happen?
On USDX between 10.01 and 10.02.
  • #589
  • Oct 17, 2007 6:40pm Oct 17, 2007 6:40pm
Igrok,

Regards to main move of the day, week, month and year.

How do u relate they together ? Or do u look at them separately for your decision making ? Hope you would elaborate more.. thanks.
The future depends on what we do in the present.
  • #590
  • Edited 7:34pm Oct 17, 2007 7:22pm | Edited 7:34pm
Quoting compro99
Igrok,

Regards to main move of the day, week, month and year.

How do u relate they together ? Or do u look at them separately for your decision making ? Hope you would elaborate more.. thanks.
Wider the time frame -> bigger average trading range -> longer targets -> larger potential profits on a single position. The choice is always there and often depends on how much time has left till the end of a particular time period. Sometimes it is quite obvious that the market's current trading range is way short of the average and has to be extended (completed) over the remaining time while still fitting into a particular time frame such as a day, a week, a month or a year.
  • #591
  • Oct 18, 2007 12:22am Oct 18, 2007 12:22am
Hi Igrok, I'd like to ask whether there's a complete diamond in GBP/USD H4 chart this month. In which direction it'll most likely break if there's indeed one?
Thanks for sharing views in this thread.
Tra-X
  • #592
  • Edited 1:03am Oct 18, 2007 12:30am | Edited 1:03am
I was trying to read your macd setting off the charts you posted previously. Will they be in your book = current setting you may use?

Sorry I just read post 57 - I will wait fo rmy book to arrive - I only asked the question because you had mentioned the indicator in other posts.
All I ask is a chance to prove that money can't make me happy.
  • #593
  • Edited 2:10am Oct 18, 2007 2:00am | Edited 2:10am
Quoting Traex
Hi Igrok, I'd like to ask whether there's a complete diamond in GBP/USD H4 chart this month. In which direction it'll most likely break if there's indeed one?
Thanks for sharing views in this thread.
There is no diamond on Cable. Diamonds are rare formations and they never incorporated into a side trend. A diamond can only work as a reversal or a continuation pattern (depending on its shape) and always are formed either at the very end of a trend (reversal) or in the middle of it (continuation).
  • #594
  • Oct 18, 2007 2:04am Oct 18, 2007 2:04am
Quoting telluv
I was trying to read your macd setting off the charts you posted previously. Will they be in your book = current setting you may use?

Sorry I just read post 57 - I will wait fo rmy book to arrive - I only asked the question because you had mentioned the indicator in other posts.
MACD I only check for divergences in order to determine a potential minimal target. I never trade on any signal given by any indicator including this particular one.
  • #595
  • Oct 18, 2007 4:50am Oct 18, 2007 4:50am
Hi Igrok, I still don't understand what you mean by gaps in USDX and USDCHF, could you post a chart so we can learn from that.
  • #596
  • Edited 5:22am Oct 18, 2007 5:09am | Edited 5:22am
Quoting Zeyin
Hi Igrok, I still don't understand what you mean by gaps in USDX and USDCHF, could you post a chart so we can learn from that.
What are you going to learn? Gaps are just gaps. Any TA textbook has its description. In our case on the USDX the closing price on the 1-st of October was 77.90 and the next day's low was at 77.91 and it never traded below that low up until today. So, it was a quite legit 1-pip gap between two consecutive daily bars. You will not be able to see such a small thing on any picture that I might post here. You have to check the actual chart.
  • #597
  • Oct 18, 2007 10:05am Oct 18, 2007 10:05am
Quoting Igrok
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).
Well a positive is that money management and stop loss orders keep you in the game ! Looks like the Eur/Usd is going for some new highs??
  • #598
  • Oct 18, 2007 11:27am Oct 18, 2007 11:27am
Looks like all the gaps have been filled
  • #599
  • Oct 18, 2007 2:19pm Oct 18, 2007 2:19pm
Quoting Igrok
MACD I only check for divergences in order to determine a potential minimal target. I never trade on any signal given by any indicator including this particular one.
Do you use traditional 12/26 MACD settings?
Also you mentioned divergence is what you use it for.
So the others listed below are not used?

  1. Positive Divergence - Used
  2. Bullish/Bearish Moving Average Crossover - ?
  3. Bullish/Bearish Centerline Crossover - ?
  4. And is the Histogram portion of the idicator used for divergance in your plan - ?

All I ask is a chance to prove that money can't make me happy.
  • #600
  • Oct 18, 2007 2:36pm Oct 18, 2007 2:36pm
Quoting BestCase
Well a positive is that money management and stop loss orders keep you in the game ! Looks like the Eur/Usd is going for some new highs??
This is why I don't like planning or posting any setups in advance. What seems like a reasonable strategy at one moment may not become the one by the actual time the market reached some predetemined levels. I bought the buck but not by shorting the EUR/USD. Instead I went long on the USD/CAD which was holding much better than any other USD pair and had no problem to cover the position even with some profits when realized that USD/CHF went lower than I had initially expected.

BTW since some colleagues are pretty much interested in diamonds by looking for them everywhere I can say the only pair that had formed a real diamond on the charts today was USD/JPY. It was a realtively typical continuation diamond with a bit odd right upper border but a perfectly set breaking support level. The break occured in the direction opposite to the direction of the main diagonal as it is supposed to and the price has reached its measured objective target without any delay as well. Here is how it looked liked on hourlies:
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 90 KB
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