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

  • #1,801
  • Sep 23, 2008 3:53am Sep 23, 2008 3:53am
Quoting Igrok
CAD is the least interesting at the moment. Historically it's also the least volitile pair among majors. Have no idea what it is going to do near-term. On the very long run 1.42-43 is a must.
Yes, its slow as hell. Thanks for your quick reply. Cheers!
  • #1,802
  • Sep 23, 2008 3:59am Sep 23, 2008 3:59am
Quoting g_j_hook@yah
hi Igrok,great thread,
can you enlarge on how you manage your positions?? do you trade the pair from line to line, if so how do you deal with the mid point in patterns where price can reverse? or is it more discretionary?? thanx
Yeah, sure. Seems I have to start writing this thread all over again.
  • #1,803
  • Sep 23, 2008 4:04am Sep 23, 2008 4:04am
Quoting Igrok
I've got an eery feeling that the market is getting set for a major USD comeback. I would say that there is a probability for a huge range today once again on majors and JPY crosses. If this is going to be the case then today's range on the USD/JPY might be something like 105.00 - 109.00.
But all of this is only a feeling without any reasonable explanations or confirmed trading signals.
USDX has held 76 here and this "sideways head" to me looks similiar to weekly EURUSD, 2004-2006, which would imply we don't go much below this "neck" and charge on up to new highs either from here or a tiny toe-dip lower.

That's just a feeling as well, but I like the idea of the similiar pattern. Also as you've also pointed out, there's the UJ gap to fill after a retrace of .618 of the weekly PB / doji to near 105, all of which sounds pro USD to me.
I don't doubt we'll hit 107.50ish again soon

Plus a really great reason for a USD rally is having read just about everywhere that with all these bailouts the dollar is now "so dead". Whenever there's too much consensus, well...you know what happens
Trust price. Know yourself.
  • #1,804
  • Sep 23, 2008 4:06am Sep 23, 2008 4:06am
Quoting Igrok
Yeah, sure. Seems I have to start writing this thread all over again.
People see 121 pages and get lazy.

Last week you said that EJ could get to 162.30 this week, why was that?

I'm wondering what you saw then didn't see which made you exit your trade at 156
  • #1,805
  • Edited 4:41am Sep 23, 2008 4:18am | Edited 4:41am
Quoting Blackinc
People see 121 pages and get lazy.

Last week you said that EJ could get to 162.30 this week, why was that?

I'm wondering what you saw then didn't see which made you exit your trade at 156
Still possible to get to those levels. In fact it's sort of "must reach" level as the gap has been formed out there. However this is only a probable projection but I don't trade on such a thing even if it is my own. The sequence of the moves in between can offer much better opportunities with really valid trading signals, reasonable stops and all the other stuff that makes a huge difference between a routine everyday business and a fortunetelling. That was initially intended to be an intraday trade and it has been treated and executed as such.
  • #1,806
  • Sep 23, 2008 4:20am Sep 23, 2008 4:20am
Quoting SeekingLight
USDX has held 76 here and this "sideways head" to me looks similiar to weekly EURUSD, 2004-2006, which would imply we don't go much below this "neck" and charge on up to new highs either from here or a tiny toe-dip lower.

That's just a feeling as well, but I like the idea of the similiar pattern. Also as you've also pointed out, there's the UJ gap to fill after a retrace of .618 of the weekly PB / doji to near 105, all of which sounds pro USD to me.
I don't doubt we'll hit 107.50ish again soon

Plus a really great reason for a USD rally is having read just about everywhere that with all these bailouts the dollar is now "so dead". Whenever there's too much consensus, well...you know what happens
Agree. Besides there is still left some unfinished business on the higher USD levels.
  • #1,807
  • Sep 23, 2008 4:40am Sep 23, 2008 4:40am
Mr Igrok, for spoting divergence you use only MACD, or also something else besides this oscillator?
  • #1,808
  • Sep 23, 2008 4:52am Sep 23, 2008 4:52am
Quoting belekas
Mr Igrok, for spoting divergence you use only MACD, or also something else besides this oscillator?
MACD is the most accurate for this purpose. Also good when it's confirmed by RSI.
  • #1,809
  • Sep 23, 2008 4:53am Sep 23, 2008 4:53am
Quoting Igrok
MACD is the most accurate for this purpose. Also good when it's confirmed by RSI.
Understood. If RSI alone shows div and MACD doesnt show any, then its a no go? I ask because right now im observing a div on RSI, but none on MACD.
  • #1,810
  • Sep 23, 2008 5:03am Sep 23, 2008 5:03am
Quoting belekas
Understood. If RSI alone shows div and MACD doesnt show any, then its a no go? I ask because right now im observing a div on RSI, but none on MACD.
Start with MACD and then look for other confirmations.
  • #1,811
  • Sep 23, 2008 5:07am Sep 23, 2008 5:07am
Quoting Igrok
Start with MACD and then look for other confirmations.
Cheers mate
  • #1,812
  • Sep 23, 2008 5:34am Sep 23, 2008 5:34am
Had over a 100 pips floating profit on today's EU shorts, it has failed to reach my intraday target by just 30 pips and then I was forced to liquidate it almost at break even after Cable changed the main direction. Just wasted my time on this trade. But seems we're going to see some good volatility ahead today.
  • #1,813
  • Sep 23, 2008 5:49am Sep 23, 2008 5:49am
Quoting Igrok
Had over a 100 pips floating profit on today's EU shorts, it has failed to reach my intraday target by just 30 pips and then I was forced to liquidate it almost at break even after Cable changed the main direction. Just wasted my time on this trade. But seems we're going to see some good volatility ahead today.
Can i ask where was your initial entry Ig?
  • #1,814
  • Sep 23, 2008 5:54am Sep 23, 2008 5:54am
Quoting belekas
Can i ask where was your initial entry Ig?
Around 1.4790. Template #18.3. I missed a better spot above 1.4800 cause was distructed by a phone call.
I wish I always were as smart before as I am after.
  • #1,815
  • Sep 23, 2008 6:03am Sep 23, 2008 6:03am
Quoting Igrok
Around 1.4790. Template #18.3. I missed a better spot above 1.4800 cause was distructed by a phone call.
I wish I always were as smart before as I am after.
After the fact its easy Im looking at #18.3a/b templates and not quite understand how you took this trade. The position should be taken in the opposite direction of the moove and towards the dayly open?
  • #1,816
  • Sep 23, 2008 6:08am Sep 23, 2008 6:08am
Quoting belekas
After the fact its easy Im looking at #18.3a/b templates and not quite understand how you took this trade. The position should be taken in the opposite direction of the moove and towards the dayly open?

Sorry for typo. #18.4 of course.
  • #1,817
  • Sep 23, 2008 6:12am Sep 23, 2008 6:12am
Quoting Igrok
Sorry for typo. #18.4 of course.
Just as i thought No problem mate.

Thanks.
  • #1,818
  • Sep 23, 2008 6:17am Sep 23, 2008 6:17am
Quoting belekas
Just as i thought No problem mate.

Thanks.
Still a valid one but with lesser probability for success because of the Cable.
  • #1,819
  • Sep 23, 2008 6:36am Sep 23, 2008 6:36am
Quoting Igrok
Still a valid one but with lesser probability for success because of the Cable.
But your short position was opened not in the direction of the main move of the previous day, or the medium-term trend. How come Ig?
  • #1,820
  • Sep 23, 2008 6:41am Sep 23, 2008 6:41am
Quoting belekas
But your short position was opened not in the direction of the main move of the previous day, or the medium-term trend. How come Ig?
I took a chance because yesterday's range was excessive.
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