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

  • #1,501
  • Sep 1, 2008 8:38pm Sep 1, 2008 8:38pm
Hello Mr. Toshchakov,

You have repreatedly mentioned USDx here at your thread.

Since than,I have tried to keep up with it. Not very easy to find a reliable feed for it, but I have arrenged to geto one.

That being said, I have a few questions for you:

1)Looking at the daily chart, was that a diamond there? If so, it has reached its measured outcome(target).;

2) Also, I see a horizontal resistance around the ~77.80 area. What technical reasons makes you think USDx will keep on going up'and break this resistance area?

Could you elaborate a little bit more on this as it's pretty clear USD is strengthening across the board?

Thanks in advance.

Cheers,
JP.
Attached Image (click to enlarge)
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  • #1,502
  • Sep 1, 2008 9:44pm Sep 1, 2008 9:44pm
Quoting jupiter_peak

That being said, I have a few questions for you:

1)Looking at the daily chart, was that a diamond there? If so, it has reached its measured outcome(target).;

2) Also, I see a horizontal resistance around the ~77.80 area. What technical reasons makes you think USDx will keep on going up'and break this resistance area?

Could you elaborate a little bit more on this as it's pretty clear USD is strengthening across the board?

Thanks in advance.

Cheers,
JP.
1. There is a confirmed bullish divergence on monthly MACD pointing at 92.63.
2. This level is lacking technical significance. The next important one is located only at 81.00.
  • #1,503
  • Sep 2, 2008 4:01am Sep 2, 2008 4:01am
It seems that Cable is set for a drop of another 800-1000 pips from current levels. However it might be quite interesting to see the price action since it already looks a bit oversold short-term.
  • #1,504
  • Sep 2, 2008 4:01am Sep 2, 2008 4:01am
Quoting Igrok
The main point is not where to open a position but to define where to give up.
Ok.. I'll keep that very good advise in mind.

Quote
I don't take any position on any signal

For these signals, how do you get the triggering signals? is it just purely on PA or you also use eg. MACD and RSI? (besides using them for divergence and OBOS levels).

Quote
must pass a test on my risk acceptance policy.
And may I know what is the method you use for this test to determine whether it is pass or not?


Thanks again.
  • #1,505
  • Sep 2, 2008 4:10am Sep 2, 2008 4:10am
Quoting metapips
1. For these signals, how do you get the triggering signals? is it just purely on PA or you also use eg. MACD and RSI? (besides using them for divergence and OBOS levels).

2. And may I know what is the method you use for this test to determine whether it is pass or not?
1. Divergences don't provide any trading signals. They only provide some additional info about directions and targets. TS's are generated by patterns and main moves.
2. It's very easy. If I can't afford losing more than a certain percentage amount per trade by using that predetermined stops level, I will either have to wait till the market comes closer to it, or (in case that doesn't happen) I abandon the idea of taking such a trade till the market develops (forms) a new level for placing acceptable stops. In many cases I place stops even before taking any actual position.
  • #1,506
  • Edited 5:08am Sep 2, 2008 4:26am | Edited 5:08am
Quoting Igrok
1. Divergences don't provide any trading signals. They only provide some additional info about directions and targets. TS's are generated by patterns and main moves.
2. It's very easy. If I can't afford losing more than a certain percentage amount per trade by using that predetermined stops level, I will either have to wait till the market comes closer to it, or (in case that doesn't happen) I abandon the idea of taking such a trade till the market develops (forms) a new level for placing acceptable stops. In many cases I place stops even before taking any actual position.
Thanks so much, I really appreciate all your inputs.

Cheers


(update)
Quote
In many cases I place stops even before taking any actual position.
After digesting your quotes, I begin to see and realize that before taking any trade.. you're thinking more to where that the price would not go (therefore mark the stops first) instead of where the price might go, so as the price will not stalled and will go to either one of the directions, then.. there you'll take your profits plus all the target projections to follow-through? (pls correct me when I'm wrong)
  • #1,507
  • Sep 2, 2008 5:31am Sep 2, 2008 5:31am
Quoting metapips
(update) After digesting your quotes, I begin to see and realize that before taking any trade.. you're thinking more to where that the price would not go (therefore mark the stops first) instead of where the price might go, so as the price will not stalled and will go to either one of the directions, then.. there you'll take your profits plus all the target projections to follow-through? (pls correct me when I'm wrong)
Something like that. Considering that a tossed coin will never hang in the air, in any case I will either get my projected profit ( may also expand or reconsider my projection further in the process) or will exit the position with the predetermined loss (not a subject for reconsideration unless trailing stops are applied).
  • #1,508
  • Edited 7:03am Sep 2, 2008 6:18am | Edited 7:03am
Quoting Igrok
Something like that. Considering that a tossed coin will never hang in the air, in any case I will either get my projected profit ( may also expand or reconsider my projection further in the process) or will exit the position with the predetermined loss (not a subject for reconsideration unless trailing stops are applied).
Thanks again Igrok. I need to reformat my mindset first for further questions...
  • #1,509
  • Sep 2, 2008 6:34am Sep 2, 2008 6:34am
Quote
It seems that Cable is set for a drop of another 800-1000 pips from current levels

I just noticed there is a Gap at around 1.64
  • #1,510
  • Sep 2, 2008 11:19pm Sep 2, 2008 11:19pm
A serious trendline on EUR/USD at 1.4465 just gave up on the fourth touch. Next target should be at around 1.39.
  • #1,511
  • Sep 2, 2008 11:54pm Sep 2, 2008 11:54pm
Quoting Igrok
A serious trendline on EUR/USD at 1.4465 just gave up on the fourth touch. Next target should be at around 1.39.
Yes I see it on the W1 chart. Thanks!
  • #1,512
  • Sep 3, 2008 12:08am Sep 3, 2008 12:08am
Next interesting levels to watch would be yesterday's lows on GBP/JPY and AUD/JPY (already broken at the moment). Seems those are the supports where housewives might get kicked out of the market completely.
  • #1,513
  • Sep 3, 2008 12:13am Sep 3, 2008 12:13am
Quoting Igrok
Next interesting levels to watch would be yesterday's lows on GBP/JPY and AUD/JPY (already broken at the moment). Seems those are the supports where housewives might get kicked out of the market completely.
Japanese?
  • #1,514
  • Sep 3, 2008 12:16am Sep 3, 2008 12:16am
Quoting fxterrapin
Japanese?
International, I guess.
  • #1,515
  • Sep 3, 2008 12:25am Sep 3, 2008 12:25am
Quoting Igrok
International, I guess.
Oh, I was asking since I read many reports about Japanese housewives jumping into forex, spending their husbands' hard-earned cash in order to gain those higher interest rates... didn't know that this was an international phenomenon.
  • #1,516
  • Sep 3, 2008 12:28am Sep 3, 2008 12:28am
Quoting fxterrapin
Oh, I was asking since I read many reports about Japanese housewives jumping into forex, spending their husbands' hard-earned cash in order to gain those higher interest rates... didn't know that this was an international phenomenon.
I think now it is. They are mostly in carry trades.
  • #1,517
  • Sep 3, 2008 12:37am Sep 3, 2008 12:37am
Kiwi fell out of bed this morning too.

Major trendline on the Aussie not too far away now.
  • #1,518
  • Sep 3, 2008 12:53am Sep 3, 2008 12:53am
Quoting BentRod
Kiwi fell out of bed this morning too.

Major trendline on the Aussie not too far away now.
Yeah. Kiwi has the line broken. The last time I was travelling to NZ the rate was around 0.5 and I liked it alot. Seems it's coming back soon.
  • #1,519
  • Sep 4, 2008 3:51am Sep 4, 2008 3:51am
Igrok,

What is your thought on this method ?

I read your book and you used Fibonacci too but never see you discuss anything in this thread.

http://www.forexfactory.com/showthread.php?t=102993
Keep it simple and sweet !
  • #1,520
  • Sep 4, 2008 9:24am Sep 4, 2008 9:24am
Quoting k-i-s-s
Igrok,

What is your thought on this method ?

I read your book and you used Fibonacci too but never see you discuss anything in this thread.

http://www.forexfactory.com/showthread.php?t=102993

I don't have any thoughts cause I've never read it. Fibo stuff I don't use practically.
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