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

  • #1,661
  • Sep 14, 2008 10:24am Sep 14, 2008 10:24am
Igrok,

For this pair GBP/CHF, what is your analysis of the must reach level ?

Would like to hear your opinion..
Keep it simple and sweet !
  • #1,662
  • Sep 14, 2008 11:53am Sep 14, 2008 11:53am
Quoting Ulterior
Master Igrok,

at first hearing you saying that .96 is a must for euro, I couldn't stop thinking of it, and after combining my fib study on eur/usd I found this startling proof of you being right...

Best Regards
Unless I've missed something, fibs are drawn from top-bottom/bottom-top.
Measure twice, cut once
  • #1,663
  • Sep 14, 2008 12:21pm Sep 14, 2008 12:21pm
Quoting aediaz1
Unless I've missed something, fibs are drawn from top-bottom/bottom-top.
I noticed this while searching for price landing points. I may be wrong as well
  • #1,664
  • Sep 15, 2008 10:29am Sep 15, 2008 10:29am
Hello Mr. Toshchakov,

Let me say that your question has generated a thinking process that has opened my mind to a few things.

I am have developed the thought that broadening triangles are not quite safe to trade inside the formation. Meanwhile, it would turn out to be a good formation to trade breakouts. Wouldn't you think? Come to think about it, placing the SL above the broken trendline would make the angle towards the broke line increase, thus making if "safer"and "safer" for the SL level. Even if price rechecks the broken line, it would be "safe" from the line recheck.

On the other hand, trading a geometrical triangle breakout would be a bit risky. The opposite of the broadening formation happens.

Is my direction of thinking right? How do you handle breakouts from these patterns as to say SL placement?

I attached two drawing I took the liberty to make in order to demonstrate my thoughts.

Best,

JP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: broaden_triangle_breakout.jpg Size: 63 KB
Click to Enlarge Name: Triangle_breakout_SL_placement.jpg Size: 81 KB
  • #1,665
  • Sep 15, 2008 12:25pm Sep 15, 2008 12:25pm
At a guess ....I'd say Igrok would already be short from the top border waiting for the rest to pile in on breakout of the lower border.

See his trade on EURJPY for an example.
  • #1,666
  • Sep 15, 2008 1:05pm Sep 15, 2008 1:05pm
Quoting BentRod
At a guess ....I'd say Igrok would already be short from the top border waiting for the rest to pile in on breakout of the lower border.

See his trade on EURJPY for an example.
Once again, I would like to have the owner of this thread answer. I would apreciate your comprehension very much.

The question was adressed to Mr. Toshchakov.

Once again, thanks for your understanding.

Cheers,

JP.
  • #1,667
  • Sep 15, 2008 3:41pm Sep 15, 2008 3:41pm
Quoting jupiter_peak
Hello Mr. Toshchakov,

Let me say that your question has generated a thinking process that has opened my mind to a few things.

I am have developed the thought that broadening triangles are not quite safe to trade inside the formation. Meanwhile, it would turn out to be a good formation to trade breakouts. Wouldn't you think? Come to think about it, placing the SL above the broken trendline would make the angle towards the broke line increase, thus making if "safer"and "safer" for the SL level. Even if price rechecks the broken line, it would be "safe" from the line recheck.

On the other hand, trading a geometrical triangle breakout would be a bit risky. The opposite of the broadening formation happens.

Is my direction of thinking right? How do you handle breakouts from these patterns as to say SL placement?

I attached two drawing I took the liberty to make in order to demonstrate my thoughts.

Best,

JP.
I rarely place stops on technical levels. Prefer to use those freshly made as intraday or intraweek extremes.
  • #1,668
  • Sep 15, 2008 3:42pm Sep 15, 2008 3:42pm
Quoting k-i-s-s
Igrok,

For this pair GBP/CHF, what is your analysis of the must reach level ?

Would like to hear your opinion..
I don't have any opinion about this pair.
  • #1,669
  • Sep 15, 2008 3:44pm Sep 15, 2008 3:44pm
Quoting k-i-s-s
Based on the small broadening triangle, price has reached the low of 2004.

Are we aiming now for the low of 1993 ?

Do i make any sense ? Hahaha....
I don't know. Possible but might take a lot of time. Years, most likely.
  • #1,670
  • Sep 15, 2008 5:12pm Sep 15, 2008 5:12pm
Hi Igrok,
sorry for asking again regarding divergences... for me (at least :-) one point is still not clear... taking a look at the NZDCHF H4 divergence posted below... what is the target of this divergence?

a) The highest point between the MACD lows which would be around 0.7648

b) The point where the MACDs crossed down which would be around 0.7566 (and therefore would be already fulfilled)

c) I am writing nonsense and there is no divergence... just in case :-)

Thanks for providing your insight... have a nice day!
Attached Image
  • #1,671
  • Sep 15, 2008 7:40pm Sep 15, 2008 7:40pm
Quoting Igrok
I rarely place stops on technical levels. Prefer to use those freshly made as intraday or intraweek extremes.
Hello Mr. Toshchakov,

Once again thank you very much for your kind answer.

Is the above statement an "evolution" from the information provided in your book? Have you changed many of your thoughts from the time you wrote the book and today.

There are quite a few pages on your book that you mention that you place stops based on technical levels.

This "contradiction" is seen, for example, on the very bottom of page 114 where you clearly mention that the trader should bind his stops to technical levels.

Also, you seem to provide a sell option on an ascending resistance on page 95.

On page 90, you mention a broadening triangle. there also you seem to base trades on ascending resistances and descending supports.

Isn't this in direct contradiction to the below statement of yours?

http://www.forexfactory.com/showpost.php?p=2216704&postcount=1651

Could you help me out with all this. I am feeling a bit confused with all this different info.

I beg you to understand that I am not challenging you by no means. On the contrary, I really would like to understand things in very clear fashion in order to apply some or all of your techniques.

Wish you all the best.

JP.
  • #1,672
  • Sep 15, 2008 8:29pm Sep 15, 2008 8:29pm
Quoting BentRod
At a guess ....I'd say Igrok would already be short from the top border waiting for the rest to pile in on breakout of the lower border.

See his trade on EURJPY for an example.
I remembered him saying short EURJPY at 169.44. I am amazed at how he entered at the top.

Igrok,

Can you provide a analysis of this trade ?
Keep it simple and sweet !
  • #1,673
  • Sep 15, 2008 8:45pm Sep 15, 2008 8:45pm
Quoting k-i-s-s
I remembered him saying short EURJPY at 169.44. I am amazed at how he entered at the top.

Igrok,

Can you provide a analysis of this trade ?
Yeah.. That's what usually happens with double tops...

Price goes down.
  • #1,674
  • Sep 15, 2008 9:14pm Sep 15, 2008 9:14pm
Quoting k-i-s-s
I remembered him saying short EURJPY at 169.44. I am amazed at how he entered at the top.

Igrok,

Can you provide a analysis of this trade ?
I was a diamond. The top of 08.07. was supposed to match the top of 06.26.
  • #1,675
  • Sep 15, 2008 9:19pm Sep 15, 2008 9:19pm
Igrok,

Got it... thanks. That was a sweet trade !!
Keep it simple and sweet !
  • #1,676
  • Sep 15, 2008 9:23pm Sep 15, 2008 9:23pm
Quoting jupiter_peak
Hello Mr. Toshchakov,

Once again thank you very much for your kind answer.

Is the above statement an "evolution" from the information provided in your book? Have you changed many of your thoughts from the time you wrote the book and today.

There are quite a few pages on your book that you mention that you place stops based on technical levels.

This "contradiction" is seen, for example, on the very bottom of page 114 where you clearly mention that the trader should bind his stops to technical levels.

Also, you seem to provide a sell option on an ascending resistance on page 95.

On page 90, you mention a broadening triangle. there also you seem to base trades on ascending resistances and descending supports.

Isn't this in direct contradiction to the below statement of yours?

http://www.forexfactory.com/showpost.php?p=2216704&postcount=1651

Could you help me out with all this. I am feeling a bit confused with all this different info.

I beg you to understand that I am not challenging you by no means. On the contrary, I really would like to understand things in very clear fashion in order to apply some or all of your techniques.

Wish you all the best.

JP.
I didn't write the book for myself cause I don't need it. I just described some simplified ways to trade profitably for those who know almost nothing about TA and trading techniques that represent about 95-98% of the general market population. Obviously I had to skip on some complications to avoid possible misunderstanding and confusions of the readers. I still have no idea how to write something like "Brain Surgery for Dummies" and don't think I will ever try.
  • #1,677
  • Sep 15, 2008 9:56pm Sep 15, 2008 9:56pm
Quoting Igrok
I was a diamond. The top of 08.07. was supposed to match the top of 06.26.
In this specific case, you placed your SL level above 169.95 which was the HH (weekly/daily)?

Some 170.25 or so would fit a trade this "size"?

JP.
  • #1,678
  • Sep 15, 2008 10:06pm Sep 15, 2008 10:06pm
Quoting jupiter_peak
In this specific case, you placed your SL level above 169.95 which was the HH (weekly/daily)?

Some 170.25 or so would fit a trade this "size"?

JP.
My stops were 15 pips.
  • #1,679
  • Sep 15, 2008 10:30pm Sep 15, 2008 10:30pm
Quoting Igrok
My stops were 15 pips.
Very nice.

Thanks once again.

Extremes such as last swing highs (HH) for a downtrend change does make sense. Very much sense!!

Another swing high (HH) would mean that the trend is not changes or not exactly over.

Thanks for the light.
  • #1,680
  • Sep 15, 2008 11:43pm Sep 15, 2008 11:43pm
Quoting Igrok
My stops were 15 pips.

Did u enter using market order or limit order ?
Keep it simple and sweet !
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