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

  • #1,061
  • Apr 15, 2008 7:29am Apr 15, 2008 7:29am
thanks mate
  • #1,062
  • Edited 9:20am Apr 15, 2008 9:00am | Edited 9:20am
After reading your book I realized that TA is an approach which need surgical precision. Also confirmed my strong believe in proper use of TL.

It doesn't matter if you have the sharpest scalpel available if you know little about anatomy. This is how I see it with TL.

On page 208 figure 21.1 I see your lines (twice on horizontal and once at flat surface) got peaked a viewable pips below those lines. Have I missed something ?
Measure twice, cut once
  • #1,063
  • Apr 15, 2008 1:06pm Apr 15, 2008 1:06pm
Quoting aediaz1
After reading your book I realized that TA is an approach which need surgical precision. Also confirmed my strong believe in proper use of TL.

It doesn't matter if you have the sharpest scalpel available if you know little about anatomy. This is how I see it with TL.

On page 208 figure 21.1 I see your lines (twice on horizontal and once at flat surface) got peaked a viewable pips below those lines. Have I missed something ?
"Flat surfaces" are usually not very accurate. Those are not trendlines, can be identified visually at first glance and don't require such precision. Current top on the EUR/USD is also a "flat surface" despite each top is slightly uneven with others. More often then not the idea of trading them would be to enter a position on the change of the direction of the main move of some time period. Sometimes they only indicate a possible sequence of next moves.
  • #1,064
  • Apr 15, 2008 7:20pm Apr 15, 2008 7:20pm
Quoting Igrok
Or, perhaps, a pair of these:

And suddenly your idea of a potential formation makes sense...

It'll be interesting to see what eventuates.
  • #1,065
  • Apr 15, 2008 10:27pm Apr 15, 2008 10:27pm
Ig,
What are your thoughts on this?

It looks like a diamond but it is in a side trend.
Does that negate it's significance?
Attached Image (click to enlarge)
Click to Enlarge Name: EURSEK.jpg Size: 98 KB
  • #1,066
  • Apr 16, 2008 3:07am Apr 16, 2008 3:07am
Quoting BentRod
Ig,
What are your thoughts on this?

It looks like a diamond but it is in a side trend.
Does that negate it's significance?
I don't know. Don't even have this chart. It's more important now what you think about it.
  • #1,067
  • Apr 16, 2008 3:17am Apr 16, 2008 3:17am
Ok, Thanks.

Just watching this one for educational value, the spread is about 30 pips with my Broker.
  • #1,068
  • Apr 16, 2008 3:19am Apr 16, 2008 3:19am
Quoting BentRod
Ok, Thanks.

Just watching this one for educational value, the spread is about 30 pips with my Broker.

Forget then.
  • #1,069
  • Apr 16, 2008 3:28am Apr 16, 2008 3:28am
Potential 19.6 on USDJPY Hourly chart if it makes it down to the bottom of the channel.


Would be with the MMOTM/week also.
  • #1,070
  • Apr 18, 2008 11:57am Apr 18, 2008 11:57am
Seems EUR/USD is about to finish the main diagonal of what appears to be the biggest symmetrical broadening triangle in the history of forex, which also might turn into the biggest ever diamond as well:
Attached Image (click to enlarge)
Click to Enlarge Name: Monthly EUR A0-FX.jpg Size: 112 KB
  • #1,071
  • Apr 19, 2008 7:16pm Apr 19, 2008 7:16pm
Nice Chart.

How is USDX looking these days?

cheers
  • #1,072
  • Apr 20, 2008 11:34pm Apr 20, 2008 11:34pm
Hello Igrok,

I've been using the 18.1 template for trades. It seems pretty reliable but many days I have more 18.1 setups than I can possible trade. Is there anyway to narrow down the setups so I select the best one? Thanks.

Sincerely,

Mr. Pips
  • #1,073
  • Apr 21, 2008 2:10am Apr 21, 2008 2:10am
Mr. Pips,

Have you read this thread in its entirety?

Give that a try first.
  • #1,074
  • Apr 21, 2008 4:58am Apr 21, 2008 4:58am
Quoting BentRod
Nice Chart.

How is USDX looking these days?

cheers
Nothing special there. It is currently forming an obvious triangle on weeklies.
  • #1,075
  • Apr 21, 2008 4:59am Apr 21, 2008 4:59am
Quoting Mr. Pips
Hello Igrok,

I've been using the 18.1 template for trades. It seems pretty reliable but many days I have more 18.1 setups than I can possible trade. Is there anyway to narrow down the setups so I select the best one? Thanks.

Sincerely,

Mr. Pips
I usually filter it by looking at crosses and chose the pair that looks more promising on them as well. Also prefer those trades with the shortest stops.
  • #1,076
  • Apr 21, 2008 8:53am Apr 21, 2008 8:53am
Igrok,

If you wouldn't mind sharing, what software allows you to go back all the way to 70s forex rates?

Also, please have a look at the image below and comment. This seems to be a symmetrical wedge, where resistance and support switch roles.

Nikolas
Attached Image (click to enlarge)
Click to Enlarge Name: intersting.jpg Size: 235 KB
  • #1,077
  • Apr 21, 2008 2:33pm Apr 21, 2008 2:33pm
Quoting Igrok
I usually filter it by looking at crosses and chose the pair that looks more promising on them as well. Also prefer those trades with the shortest stops.

Thank you.
  • #1,078
  • Apr 21, 2008 3:13pm Apr 21, 2008 3:13pm
Quoting nikolasgd
Igrok,

If you wouldn't mind sharing, what software allows you to go back all the way to 70s forex rates?

Also, please have a look at the image below and comment. This seems to be a symmetrical wedge, where resistance and support switch roles.

Nikolas
This chart is from Future Source.

It's not a wedge on the picture and both lines don't make much sense either as they're not accurate enough...
  • #1,079
  • Apr 22, 2008 4:31pm Apr 22, 2008 4:31pm
Hi again Igrok.

I studied your diamonds the best I could and this is the closest attempt "worthy" an post for your judgment, if you don't mind.

I tried to be as self-critical as possible and look for why this is not an diamond rather than the opposite. As you see I tried to draw with magnet-line etc but quickly understood that I had taken water above my head but I included those lines just for the laugh
Attached Image (click to enlarge)
Click to Enlarge Name: diamond.jpg Size: 83 KB
Measure twice, cut once
  • #1,080
  • Apr 23, 2008 12:53am Apr 23, 2008 12:53am
Quoting aediaz1
Hi again Igrok.

I studied your diamonds the best I could and this is the closest attempt "worthy" an post for your judgment, if you don't mind.

I tried to be as self-critical as possible and look for why this is not an diamond rather than the opposite. As you see I tried to draw with magnet-line etc but quickly understood that I had taken water above my head but I included those lines just for the laugh
I can't see any specific formation on your chart. There is nothing significant in it.
Frankly speaking, I have always been surprised watching how often people struggle with pattern recognition. 8-9 out of 10 fully developed diamonds can and should be easily identified at first glance. Usually there is no need for some deeper research. They always start with forming a broadening triangle, which is the most obvious pattern of all technical formations. If you can't find such a triangle then it's not a diamond in progress and will never become one. Imagination of a particular individual has nothing to do with this fact. Therefore I would recommend you to skip on the attempts to recognise something in advance and first learn to trade fully developed ones. Only after making yourself comfortable with such a basic technique go ahead and make the next step by trying to make some educated guesses and projections for the future.
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