Neither one is a diamond.
Forex Ideas & Comments 18 replies
Fibonacci thoughts & ideas.... 13 replies
DislikedHi Igrok, nice to meet you. I bought your book this year and i am reading it for the third time. It is a great learning experience. This opportunity to talk to you directly is awesome.
I want to ask you a question related to your book and the market hours. In the book Average Daily Range Templates, the European open is 6 GMT. I read in some places that the Euro market open is 7 gmt and the UK open is 8 gmt.....
So , my question is .....the right time the Euro market open is 6 gmt( now with dst 5 gmt) ,and the UK open is 8 gmt ( now 7 gmt because of dst), right??
Thanks for the help.
DislikedThank you Igrok. I do exactly what you said. When i open a chart i put different colours for different days. I do almost everything you teach in the book. I keep looking all the time for those important levels that divide the market in two.
I wanted to know about the market openings to be sure that i was correctly watching the market. It is important in my opinion to know the right time to make the best use of the average daily range templates. So , the day starts 21 GMT and the Euro open described in your book as 6 GMT is actually 7 GMT?
Please give me your opinion....I bought the GBP/USD yesterday as i saw that the pair was close to a strong support zone( 1.9730 area) . I got filled at .9745 and cashed 90 pip of profit later in today's London session. I dont fell so good with this trade because it was a counter-trend one, and in my opinion very risky. I just entered the trade because the pair was in a very important level/point at that moment.
Do you think it is better to avoid these trades, and wait for "safer" ones?
DislikedI bought the GBP/USD yesterday as i saw that the pair was close to a strong support zone( 1.9730 area) . I got filled at .9745 and cashed 90 pip of profit later in today's London session. I dont fell so good with this trade because it was a counter-trend one, and in my opinion very risky.Ignored
Which template did you use for this trade(if you did use one??)?
If not a template, what was the technical significance of 1.9745? Why 90 pips? Where was your stop and why? It sounds like you just took it because of an itchy trigger finger and an area of "support".
There's really not much you can say about this trade, because there's little to no good reasons for taking it.Ignored
Could you please tell me examples of trades where there are good reasons for taking them?Ignored
DislikedBlackinc, i looked at the charts , but i have some questios about your trade...In the first place, have you used some of the templates?
I have ploted a fibo and realized that the level of 1.9750 is at 61.8 level , have you used this information in the trade?
In the weekly,daily,4 hr and hourly timeframes , the trend was down, so it was risky to take a buy, wasn't it?
I can see where you have placed your stop, but have you calculated any target?
Sorry for so many questions and thanks for the help.Ignored
DislikedIt was nearing the month low, although the pound had completed the average range for the month, i took the trade on risk:reward. Main move of the month was up but here it was near the low, i could place a relatively tight stop, with the potential for a longer term position (yearly move up). As well as this, i saw as well that this had been an area of resistance, and then support.
When i looked back on this trade, i didn't like it, because it had already completed its monthly range.
But the point of telling you, was to show that certain events mean different things with Igrok's ideas. So yes it was an area of resistance/support, but that was weak. Now add the point that it was the month low, and now it makes more sense, and a trade can be taken with a small stop.Ignored
DislikedJust a quick post on Euro Looking like a diamond. There is however a violation of the rule with double bottom. So i was wondering if I should dismiss it because of this.
Edit: I changed it to a 1hr and notice it didnt double touch the lower left side so I guess i am ok witht the formationIgnored
DislikedAt this particular trading levels everyone can predict USD major reversal. No need to be a genius for that. Every trend comes to an end sooner or later. It's obvious, and not only on NZD/USD.Ignored