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

  • #1,161
  • Jul 28, 2008 2:54am Jul 28, 2008 2:54am
Quoting belekas
Not so nice lines as well. But can these be little diamonds?
No. Diamond is a rhomb that is consisted of a couple of triangles bound together: a broadening one and a regular one. It normally can be recognized at first glance without any necessity of making some sort of hard drawing job.
  • #1,162
  • Jul 28, 2008 3:34am Jul 28, 2008 3:34am
Quoting Igrok
No. Diamond is a rhomb that is consisted of a couple of triangles bound together: a broadening one and a regular one. It normally can be recognized at first glance without any necessity of making some sort of hard drawing job.
Thank you for your answer.
  • #1,163
  • Jul 28, 2008 3:35am Jul 28, 2008 3:35am
Ok, what about this top then? Seems it was nice...
Attached Image (click to enlarge)
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  • #1,164
  • Jul 28, 2008 5:10am Jul 28, 2008 5:10am
Quoting belekas
Ok, what about this top then? Seems it was nice...
2 posts above, "broadening triangle, and a regular one". Can you point these out on your chart, remembering what the criteria are for a trianlge?

If you take the time to read through this thread, there's heaps of valuable info on diamonds. These questions have all been asked before.
  • #1,165
  • Jul 28, 2008 5:19am Jul 28, 2008 5:19am
Quoting Blackinc
2 posts above, "broadening triangle, and a regular one". Can you point these out on your chart, remembering what the criteria are for a trianlge?

If you take the time to read through this thread, there's heaps of valuable info on diamonds. These questions have all been asked before.
Ive read alot about TA, and been studying even more, thanks for advise. Everyone see geometry different. If you see those formations then thats good, because i see different.
  • #1,166
  • Jul 28, 2008 2:56pm Jul 28, 2008 2:56pm
Quoting belekas
Ive read alot about TA, and been studying even more, thanks for advise. Everyone see geometry different. If you see those formations then thats good, because i see different.

Good to hear. But as your posting in this thread, be prepared to be told that the way you see things is wrong. Thats not personal, its just Igrok's ideas are slightly different to the most peoples idea of TA.

Added to that, diamonds are just one interesting part, but by no means the be all and end all of Igrok's ideas. The advice to read the whole thread still stands
  • #1,167
  • Jul 28, 2008 5:33pm Jul 28, 2008 5:33pm
Hello Mr. Toshchakov,

Once again, thanks for your time as I know it's very valuable.

I might be observing a MACD divergence on weekly.

I spotted this just last Friday since I usually don't trade this pair.

Would you agree with this divergence? Possible reversal coming?

1) I see it has been very bullish for a long time;
2) I see as oil has come down; stronger USD indication across the board.

The two reasons above make me think a reversal is coming up.

If a reversal is coming, would you add anything to it?

Would you take this trade? If so, how would you enter this trade?

Once again, thanks for your patience in writing to us who are just trying our best to learn.

Wish you all the best,

JP.
Attached Image (click to enlarge)
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  • #1,168
  • Jul 28, 2008 9:30pm Jul 28, 2008 9:30pm
Quoting jupiter_peak
Hello Mr. Toshchakov,

Once again, thanks for your time as I know it's very valuable.

I might be observing a MACD divergence on weekly.

I spotted this just last Friday since I usually don't trade this pair.

Would you agree with this divergence? Possible reversal coming?

1) I see it has been very bullish for a long time;
2) I see as oil has come down; stronger USD indication across the board.

The two reasons above make me think a reversal is coming up.

If a reversal is coming, would you add anything to it?

Would you take this trade? If so, how would you enter this trade?

Once again, thanks for your patience in writing to us who are just trying our best to learn.

Wish you all the best,

JP.
On my opinion, the divergence pointing towards 0.8513 will work no matter what. As this price also happens to be the current low of the year it is quite likely that AUD/USD will also change the direction of the main move. Exact timing however remains unknown.
  • #1,169
  • Jul 28, 2008 11:46pm Jul 28, 2008 11:46pm
Hi Ig.

What are your current longer term thoughts on USDCAD?

Current years range seems rather small.

Given the views on other pairs....do you favour a break to the upside on USDCAD?
  • #1,170
  • Jul 29, 2008 12:09am Jul 29, 2008 12:09am
Quoting BentRod
Hi Ig.

What are your current longer term thoughts on USDCAD?

Current years range seems rather small.

Given the views on other pairs....do you favour a break to the upside on USDCAD?
I guess if it changes the direction of the main move of the year near-term it is likely to target 1.10 zone initially.
  • #1,171
  • Jul 29, 2008 12:50am Jul 29, 2008 12:50am
Ok...thanks for the reply mate.
  • #1,172
  • Jul 31, 2008 4:39am Jul 31, 2008 4:39am
Quoting Igrok
I guess if it changes the direction of the main move of the year near-term it is likely to target 1.10 zone initially.
Hello Mr. Toshchakov,

Sorry to bother you again.

The first part of the above answer does make sense to me. The target, however, is not very clear.

I might be observing another MACD divergence on my monthly chart for loonie.

Looks to me that a bearish channel formation is making LLs and the MACD histogram is making HLs.

With that being said, how do you measure the outcome (target) for the change in the main move?

Cheers.

JP.
Attached Image (click to enlarge)
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  • #1,173
  • Jul 31, 2008 9:24am Jul 31, 2008 9:24am
Quoting jupiter_peak
With that being said, how do you measure the outcome (target) for the change in the main move?
1. The measured target for the MACD divergence is the high of the previous year at 1.1877. (Or, perhaps, is even as high as the high of 2005 at 1.2733).
2. The measured target for the current year is roughly the low of 2006 at 1.0930.
  • #1,174
  • Jul 31, 2008 9:29am Jul 31, 2008 9:29am
BTW if the EUR/USD closes today near or below current level (roughly 1.5590-5600) it is likely to target 1.5340 even tomorrow (or early next week).
  • #1,175
  • Jul 31, 2008 11:56am Jul 31, 2008 11:56am
Quoting Igrok
BTW if the EUR/USD closes today near or below current level (roughly 1.5590-5600) it is likely to target 1.5340 even tomorrow (or early next week).
Hello Mr Toshchakov,

I have support 1 (on daily chart) @ ~1.5582 and a second support @ ~1.5381.

Aren't those "critical" levels for those of us trading intra-day? If not, what would be your recommendation as to better "spot" intra-day S/Rs?

I am sorry if I bother you with such a newbie question and this being a bit out of context from the thread title. I have developed my own way to find these levels (Horiz. S/Rs).

Since the general consensus is to debate new and old ideas, I would like to hear a little about horizontal S/Rs.

"My" method is to simply switch my charts to line (old school) on Daily (for intra-day) and find peaks/valleys on the charts. The more times price forms a peak/valley, the more valid an S/R is.

As an example, coincidence or not, price stalled at the support ~1.5582 I had spotted previously. Generally speaking, this technique has worked for me.

I would be very glad if you could elaborate abit about Horiz. CRITICAL LEVELS.

Thanks so much and Cheers.
JP.
Attached Image(s) (click to enlarge)
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  • #1,176
  • Jul 31, 2008 12:33pm Jul 31, 2008 12:33pm
Igrok, or any other participant in this thread, do you obtain any knowledge about different % criteria a TL should be broken by ?

Brian Marbers writes that with currencies, a TL is not broken until at least closing-price is 1 % above/below any TL (3% on commodities for what it's worth).

I know from experience, when talking to old dogs with questions like this, they would simply reply " I don't care what others do". But what makes this a bit interesting is that this fella have 52 years of experience with TA, but yet I have never heard any talk of this simple but efficient way before.
Measure twice, cut once
  • #1,177
  • Jul 31, 2008 3:12pm Jul 31, 2008 3:12pm
Quoting aediaz1
Igrok, or any other participant in this thread, do you obtain any knowledge about different % criteria a TL should be broken by ?

Brian Marbers writes that with currencies, a TL is not broken until at least closing-price is 1 % above/below any TL (3% on commodities for what it's worth).
Makes no sense to me. Closing price of what? What is the time frame that he is talking about? Hourly, Daily, Weekly, Monthly or anything in between? TL levels usually are absolute in terms of specific price levels while "closing prices" are relative to the charts you consider at a given moment.
  • #1,178
  • Edited 3:27pm Jul 31, 2008 3:15pm | Edited 3:27pm
Quoting Igrok
Makes no sense to me. Closing price of what? What is the time frame that he is talking about? Hourly, Daily, Weekly, Monthly or anything in between? TL levels usually are absolute in terms of specific price levels while "closing prices" are relative to the charts you consider at a given moment.
Forgot to say he used it from daily-monthly.

What makes this as an interesting "discovery" for me, is that it exclude some potential fake breakouts. This is just to add content in this discussion, as I know you draw your TL in a different way. I'll stop from here since this really hasn't got anything to do with your thread, I just wanted to hear if this was familiar since this method have its origin many many years back. Here's a nzd/usd 4h chart with an example;
Attached Image (click to enlarge)
Click to Enlarge Name: ig.jpg Size: 101 KB
Measure twice, cut once
  • #1,179
  • Jul 31, 2008 3:31pm Jul 31, 2008 3:31pm
Quoting jupiter_peak
Hello Mr Toshchakov,

I have support 1 (on daily chart) @ ~1.5582 and a second support @ ~1.5381.

Aren't those "critical" levels for those of us trading intra-day? If not, what would be your recommendation as to better "spot" intra-day S/Rs?

I am sorry if I bother you with such a newbie question and this being a bit out of context from the thread title. I have developed my own way to find these levels (Horiz. S/Rs).

Since the general consensus is to debate new and old ideas, I would like to hear a little about horizontal S/Rs.

"My" method is to simply switch my charts to line (old school) on Daily (for intra-day) and find peaks/valleys on the charts. The more times price forms a peak/valley, the more valid an S/R is.

As an example, coincidence or not, price stalled at the support ~1.5582 I had spotted previously. Generally speaking, this technique has worked for me.

I would be very glad if you could elaborate abit about Horiz. CRITICAL LEVELS.

Thanks so much and Cheers.
JP.
Don't really know what to say. Yes, I agree that horizontal S&R's do play significant role in TA and it's not a problem to find sufficient evedence of that from just taking a single look at any charts. But it doesn't mean that it always works this way. TL's could work as good as horizontal lines but they obviouly positioned at some angles. Generally speaking, each significant top or bottom almost always make some technical sense. Sometimes it's hidden and it's technical meaning can be discovered only after the fact, and sometimes it can be foreseen and used in advance.
But I would rather prefer to consider each particular situation separately. On my opinion, what makes current EUR/USD chart remarkable and fascinating is the fact that it is almost perfectly symmetrical at the trading levels between 1.5280 and 1.6038. May and June daily charts look like identical twins in terms of trading levels and moves' sequences. Same is true for April and July. Wouldn't be surprised to see August's price action matching April's as well.
  • #1,180
  • Jul 31, 2008 3:41pm Jul 31, 2008 3:41pm
Quoting aediaz1
Forgot to say he used it from daily-monthly.

What makes this as an interesting "discovery" for me, is that it exclude some potential fake breakouts. This is just to add content in this discussion, as I know you draw your TL in a different way. I'll stop from here since this really hasn't got anything to do with your thread, I just wanted to hear if this was familiar since this method have its origin many many years back. Here's a nzd/usd 4h chart with an example;
Not a good example though that you got just posted above. I always say that ascending resistances and descending supports should not be traded on break-outs at all. My second point is that a false break is as good as a real one because it just confirmes that the market has chosen the opposite direction for its next near-term trend. I mentioned about it in my book as well.

As to the practical use of that "discovery" I would say that there are so many ways to go around without facing that particular problem that I wouldn't even bother to make a deeper research on the issue.
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