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

  • #2,061
  • Oct 12, 2008 3:02pm Oct 12, 2008 3:02pm
Quoting rudenstein
And placing an order before this weekend may not have been wise anyway.
It was way before the end of the day and at the major support level. Weekend has nothing to do with that.
  • #2,062
  • Oct 12, 2008 3:17pm Oct 12, 2008 3:17pm
Quoting Igrok
It was way before the end of the day and at the major support level. Weekend has nothing to do with that.
I was talking about what could happen after the weekend. Unless it was an intra-day trade that was closed the same day, in which case, I'm mistaken.
  • #2,063
  • Oct 12, 2008 3:27pm Oct 12, 2008 3:27pm
Quoting rudenstein
I was talking about what could happen after the weekend. Unless it was an intra-day trade that was closed the same day, in which case, I'm mistaken.
The line either holds or it doesn't. The stops still must be placed on any trade. Considering that closing of the week was more than 300 pips above the line, weekend risk was minimal for a position taken right ahead of that support.
  • #2,064
  • Oct 12, 2008 3:45pm Oct 12, 2008 3:45pm
Quoting Igrok
The line either holds or it doesn't. The stops still must be placed on any trade. Considering that closing of the week was more than 300 pips above the line, weekend risk was minimal for a position taken right ahead of that support.

I agree, but these days you never know.
  • #2,065
  • Oct 12, 2008 5:37pm Oct 12, 2008 5:37pm
HUGE spike + big gap just right now on EJ and GJ!!

WOW!

What was that!?!?
Debts were paid real fast!

Current day range is already above AVG range!!!

Given that the range is done and that we have had INCREDIBLE ranges these last days, Is it still tradable with 18.4 for example?

I'd like to set 18.4 Longs for UJ and its crosses. and SHORT for CHFJPY.
  • #2,066
  • Oct 12, 2008 8:13pm Oct 12, 2008 8:13pm
EURUSD H4 broadening triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h4_12_10_2008_boradening_triangle.gif Size: 22 KB
  • #2,067
  • Oct 13, 2008 2:14am Oct 13, 2008 2:14am
Quoting Igrok
Thanks for pointing this out. Another bullish signal here.
No problem mate.
  • #2,068
  • Oct 13, 2008 2:37am Oct 13, 2008 2:37am
Quoting jupiter_peak
HUGE spike + big gap just right now on EJ and GJ!!

WOW!

What was that!?!?
Debts were paid real fast!

What is that debt ? Please advise.
The future depends on what we do in the present.
  • #2,069
  • Oct 13, 2008 7:44am Oct 13, 2008 7:44am
Quoting Igrok
1. Opinioins based on fundamentals shouldn't be called "analyisis". Especially on a long run since fundamentals do change over time while technicals just continue to perform in accordance with its preinstalled program. Therefore analysing current fundamentals for developing longer-term projections just makes no sense at all.
2. The other reasons are based on comparative analysis with other major USD crosses as all of them look differently but point in the same direction.
Hi Igrok - just saw this note regarding the USD in the thread history... in my opinion we currently see similar long-term patterns on many majors... AUDUSD, EURUSD, NZDUSD, USDCAD. All of them are broadening triangles with potential to become a diamond sometimes in the future. The question with all the pairs is whether they will either form a new major diagonal or whether they already "now" (next few months/years) start forming potential diamonds. According to that we might get an idea about the future of the USD in general... Of course it could also turn out that we have no diamonds at all...

E.g. for EU this means that if we see 0.96 area and turn back up this should be long term bullish for USD with potential breakout to south... if we make a new main diagonal and stop somewhere around 0.7 / 0.8 area, this might be long term bearish for USD...

Even though very theoretical at this moment... do you basically agree with this long term analysis ?
  • #2,070
  • Oct 13, 2008 7:56am Oct 13, 2008 7:56am
Anyone see a reversal diamond on USD/JPY 1hr?
  • #2,071
  • Oct 13, 2008 8:30am Oct 13, 2008 8:30am
Quoting compro99
What is that debt ? Please advise.
Debts = gaps to be filled.

JP.
  • #2,072
  • Edited 2:24pm Oct 13, 2008 1:53pm | Edited 2:24pm
Igrok,
potential Diamond on USDCHF H1 with false breakout to south....

This might indicate a continuation of USDCHF up-trend...

Let's see how this plays out...

Btw... it might also possible that we move up towards 1.16 and then go down again... this would indicate that we now might have to expand the diamond and that a potential main diagonal has been formed... we would then be looking for a break of the diamond to the downside... For me, this is the less preferred scenario as we have a monthly divergence pointing up to 1.33...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF-diamond_20081013.JPG Size: 48 KB
  • #2,073
  • Oct 13, 2008 2:19pm Oct 13, 2008 2:19pm
Weekly chf/jpy .. big broadening triangle
now... knowing where we are on the weekly chart ...
look at the 1h chart and you'll notice that price is running out of space in the triangle ...
Today price was supported by 88.50 twice and it held after retracing from the third touch of the upper line .

Would it be a good trading plan to trade a long with first target 93.00 ??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chf.gif Size: 17 KB
Click to Enlarge Name: chf1.gif Size: 18 KB
  • #2,074
  • Oct 13, 2008 2:55pm Oct 13, 2008 2:55pm
Quoting giusepp8
Weekly chf/jpy .. big broadening triangle
now... knowing where we are on the weekly chart ...
look at the 1h chart and you'll notice that price is running out of space in the triangle ...
Today price was supported by 88.50 twice and it held after retracing from the third touch of the upper line .

Would it be a good trading plan to trade a long with first target 93.00 ??
I am sorry, but that triangle doesn't look like it's a triangle.

Sequence of moves makes no sense.

best.
  • #2,075
  • Oct 13, 2008 3:08pm Oct 13, 2008 3:08pm
Quoting jupiter_peak
I am sorry, but that triangle doesn't look like it's a triangle.

Sequence of moves makes no sense.

best.
I realy appreciate your answer ...........damn i just liked too much my fancy target
However price is goin north but i guess because usd is bustin jpy in this moment.
  • #2,076
  • Oct 13, 2008 3:19pm Oct 13, 2008 3:19pm
Quoting giusepp8
I realy appreciate your answer ...........damn i just liked too much my fancy target
However price is goin north but i guess because usd is bustin jpy in this moment.
Broad. triangle is very nice, but the triangle desn't look like one...
  • #2,077
  • Oct 13, 2008 3:24pm Oct 13, 2008 3:24pm
Quoting giusepp8
I realy appreciate your answer ...........damn i just liked too much my fancy target
However price is goin north but i guess because usd is bustin jpy in this moment.
Main move of the day on that pair has changed.

was down, now it's up.
  • #2,078
  • Oct 13, 2008 9:38pm Oct 13, 2008 9:38pm
So far just a broadening triangle on UJ monthly.

Could become something else (blue dotted lines) in the near future.

Broadening triangle on Momentum indicator as well.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_mn_13_10_2008_potential_diamond.gif Size: 25 KB
  • #2,079
  • Oct 13, 2008 10:11pm Oct 13, 2008 10:11pm
Long read, but well worth it.

Any resemblance to actual times?

This was written in 1790...

http://en.wikisource.org/wiki/The_Crayon_Papers/The_Great_Mississippi_Bubble

Enjoy.
  • #2,080
  • Oct 14, 2008 4:36am Oct 14, 2008 4:36am
NIKKEI past is the future of DJIA.
Attached Image
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