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

  • #701
  • Nov 16, 2007 12:13am Nov 16, 2007 12:13am
There is a very interesting symmetrical pattern currently developing on the AUD/USD. The low made on 11/13 matches the low made on 10/22; the high of 11/14 matches the high of 10/15; today's low so far matches the low of 10/17. There is a probabilty for AUD/USD to get to .9174-98 level to match a "phantom" top before completing this diamond pattern
  • #702
  • Nov 16, 2007 7:21am Nov 16, 2007 7:21am
Quoting Igrok
There is a very interesting symmetrical pattern currently developing on the AUD/USD. The low made on 11/13 matches the low made on 10/22; the high of 11/14 matches the high of 10/15; today's low so far matches the low of 10/17. There is a probabilty for AUD/USD to get to .9174-98 level to match a "phantom" top before completing this diamond pattern
Not sure of your thoughts as it relates to this chart so I took a stab at what i thought. The check mark is your next target and the price squares are what you already pointed out. Is this how your charts would look for a potential diamond or can yo post your chart for us?

Also still with the gap that needs to close from earlier in the week.
Attached Image (click to enlarge)
Click to Enlarge Name: AUD Daily.bmp.gif Size: 21 KB
All I ask is a chance to prove that money can't make me happy.
  • #703
  • Nov 16, 2007 1:12pm Nov 16, 2007 1:12pm
Quoting telluv
Not sure of your thoughts as it relates to this chart so I took a stab at what i thought. The check mark is your next target and the price squares are what you already pointed out. Is this how your charts would look for a potential diamond or can yo post your chart for us?

Also still with the gap that needs to close from earlier in the week.
Yes, this is the idea. But the upper right border should look a bit different from your picture as the target will rather match the level of the "phantom" top of the left side. I call "phantom" tops or bottoms those levels, which have to be calculated as projections of the broadening parts of a diamond on the left borders of such a formation.
  • #704
  • Nov 19, 2007 4:14pm Nov 19, 2007 4:14pm
Nothing but double touches and has not achieved template 19.9 requirments. But I just wanted to know if you start drawing from the pink or yellow lines while waiting for more touches or both or even niether.
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd 1hr Triangle.gif Size: 9 KB
All I ask is a chance to prove that money can't make me happy.
  • #705
  • Edited Nov 20, 2007 4:28am Nov 19, 2007 6:03pm | Edited Nov 20, 2007 4:28am
Quoting telluv
Nothing but double touches and has not achieved template 19.9 requirments. But I just wanted to know if you start drawing from the pink or yellow lines while waiting for more touches or both or even niether.
When you draw the lines for a traingle or any other symmetrical formation like a channel or a diamond you have to pay attention to the sequences of the moves between the borders. After posting a high, the market has to touch a low and then another high and so on. On your bigger traingle version here you put the upper line first on the two subsequent highs and then on two subsequent bottoms that makes no sense.

BTW that alleged diamond on the CAD/USD still looks fine and makes sense even without making another touch of the upper right border as it is still symmetrical. Because of that there might be a significant delay in filling up the gap on the upside. Instead of a diamond it can also turn into a H&S formation eventually.
  • #706
  • Nov 19, 2007 7:50pm Nov 19, 2007 7:50pm
Quoting Igrok
When you draw the lines for a traingle or any other symmetrical formation like a channel or a diamond you have to pay attention to the sequences of the moves between the borders. After pasting a high the market has to touch a low and then another high and so on. On your bigger traingle version here you put the upper line first on the two susequent highs an then on two subesquesnt bottoms that makes no sense.

BTW that alleged diamond on the CAD/USD still looks fine and makes sense even without making another touch of the upper right border as it is still symmetrical. Because of that there might be a significant delay in filling up the gap on the upside. Instead of a diamond it can also turn into a H&S formation eventually.
Thank you so much for your time in answering. I feel foolish to have even looked at it the way I did. I will do better on any subsequent posts.
All I ask is a chance to prove that money can't make me happy.
  • #707
  • Edited 9:53pm Nov 20, 2007 9:30pm | Edited 9:53pm
In the book you mentioned (not to be used as a trade plan) that most pairs go on average a few days in either direction. Wow that swissy is on a the move with 6 going on 7 down days in a row. I would love to postion myself with a trend line break to the upside since i was not in this down trend. Will we ever see a bottom !

Side note the GBP/CHF massive down trend seems strange that it can start the year in a uptrend then turn mid january to a down before reaching a new high in july and reaching a new low (trend is down for year) very very confusing to me.
All I ask is a chance to prove that money can't make me happy.
  • #708
  • Nov 21, 2007 3:03am Nov 21, 2007 3:03am
Quoting Igrok
Based on monthly MACD going below 109.00 is a must. Will it be able to get lower? Likely. How low? I don't know, but 108.30 seems as a perfect target. Below that level it will be difficult to find any significant technical support or to project a potential formation. I also think if I stay in business for another 10 years or so I will get a chance to trade it at around 250 level.
Reached 108.30

Just wanted to say thanks for your input again.
Hope you got something from it as well(i.e. are making nice profits alongside).
I do wonder what your trades of 2007 were since you seem to wait to "snipe" the perfect long term shots.

I'm waiting for a test of that TL near 108 and am wondering about 105-105.50 and 101.50 now.

Closing and holding below 109 certainly puts 101.50 into viable territory for me

We may have only just begun on the crosses if UJ stays locked in 101-109 while the majors and yielders sell off. Ah, trading is an interesting game.

Hope it's okay if I pop in, voice my thoughts and bug you for an opinion sometimes.
I really like your macro perspectives and find you're one of the few people who think big enough. It's so very rare.
Trust price. Know yourself.
  • #709
  • Nov 21, 2007 5:00pm Nov 21, 2007 5:00pm
Quoting telluv
In the book you mentioned (not to be used as a trade plan) that most pairs go on average a few days in either direction. Wow that swissy is on a the move with 6 going on 7 down days in a row. I would love to postion myself with a trend line break to the upside since i was not in this down trend. Will we ever see a bottom !

Side note the GBP/CHF massive down trend seems strange that it can start the year in a uptrend then turn mid january to a down before reaching a new high in july and reaching a new low (trend is down for year) very very confusing to me.

May I ask which book are you referring to? Actually I was looking for any material that explains Igrok's approach.

Thanks
TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #710
  • Nov 21, 2007 5:10pm Nov 21, 2007 5:10pm
Quoting TradeStar
May I ask which book are you referring to? Actually I was looking for any material that explains Igrok's approach.

Thanks
TradeStar
Beat The Odds In Forex Trading ISBN 0-471-93331-7 by Igor Toshchakov
I bought from Amazon.com but the book mentions www.WileyFinance.com also.
All I ask is a chance to prove that money can't make me happy.
  • #711
  • Nov 21, 2007 6:39pm Nov 21, 2007 6:39pm
Quoting telluv
Beat The Odds In Forex Trading ISBN 0-471-93331-7 by Igor Toshchakov
I bought from Amazon.com but the book mentions www.WileyFinance.com (http://www.WileyFinance.com) also.
You mean Igrok is the author of this book?
Thanks
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #712
  • Nov 22, 2007 6:13am Nov 22, 2007 6:13am
Quoting TradeStar
You mean Igrok is the author of this book?
Thanks
Yes Igrok is or better be LOL.
All I ask is a chance to prove that money can't make me happy.
  • #713
  • Nov 25, 2007 10:28am Nov 25, 2007 10:28am
Nice time to look at this chart I think.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY Daily.gif Size: 11 KB
All I ask is a chance to prove that money can't make me happy.
  • #714
  • Nov 27, 2007 6:51am Nov 27, 2007 6:51am
Quoting telluv
Nice time to look at this chart I think.
Igrok (great work, don't be discouraged by our stupid questions and sometimes out of place comments!!!)

when I see that chart I feel like looking at the same time at a SHS formation with a 2500 pips potential south, or am I mistaken? I by chance just now saw that on daily and weekly for the last 14 months, came here to post and saw telluv posting his fine diagramm.
  • #715
  • Nov 27, 2007 1:08pm Nov 27, 2007 1:08pm
Just to give you the idea ...
Attached Image (click to enlarge)
Click to Enlarge Name: shs_gbpjpy_nov_2007.gif Size: 34 KB
  • #716
  • Dec 4, 2007 6:44am Dec 4, 2007 6:44am
Maybe this looks strange (when i drew it it was within ists borders) but it played out :-)
Attached Image (click to enlarge)
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All I ask is a chance to prove that money can't make me happy.
  • #717
  • Edited 5:52pm Dec 4, 2007 12:20pm | Edited 5:52pm
Thought i would post 2 things on this chart - Poss. Triangle that may not be formed yet on lower right line due to the fact that trendline is close and my act as connector.

Sorry Realized it was a 4hr chart NOT a 1hr
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All I ask is a chance to prove that money can't make me happy.
  • #718
  • Dec 5, 2007 6:30am Dec 5, 2007 6:30am
It Made a nice move eh?
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard05.jpg Size: 81 KB
All I ask is a chance to prove that money can't make me happy.
  • #719
  • Dec 6, 2007 10:00pm Dec 6, 2007 10:00pm
There is an obvious diamond on hourly cable but I can't say for sure whether it has two diagonals, or just one. The borders are also hard to draw correctly that makes it a rare situation, when otherwise obvious formation can't generate a trading idea before the market exceeds its top or bottom.
  • #720
  • Dec 7, 2007 3:03am Dec 7, 2007 3:03am
The diamond on Cable I was talking about. Worked eventually as a reversal pattern.
(Sorry, for some unknown reason can't upload the picture)
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