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

  • #2,461
  • Dec 2, 2008 12:15am Dec 2, 2008 12:15am
Hello Mr. Igrok.
Do you find any meaning to this trendline. Is it tradable?
Thank you for your time.
Sebastien
Attached Image (click to enlarge)
Click to Enlarge Name: usd-jpy5.gif Size: 22 KB
  • #2,462
  • Dec 2, 2008 12:41am Dec 2, 2008 12:41am
Quoting OGW
Hello Mr. Igrok.
Do you find any meaning to this trendline. Is it tradable?
Thank you for your time.
Sebastien
Why not? The line can be expanded even firther into the past. It seems however like it has already made too many touches to be a sure thing. Besides I don't like much descending supports and ascending resistances cause they never offer reliable stops levels. But anyway it might be worth a try.
  • #2,463
  • Dec 2, 2008 1:42am Dec 2, 2008 1:42am
Thank you for your reply. I often "hear" that 2 touches aren't enough to define a trendline, hence the more touches the better or the more reliabe the trendline should be. However, I also hear that the more a trendline is being touched, the more likely it is to break... I find it hard to reconciliate the two. Any though of yours on that would be great. Sebastien
  • #2,464
  • Dec 2, 2008 2:02am Dec 2, 2008 2:02am
Quoting OGW
Thank you for your reply. I often "hear" that 2 touches aren't enough to define a trendline, hence the more touches the better or the more reliabe the trendline should be. However, I also hear that the more a trendline is being touched, the more likely it is to break... I find it hard to reconciliate the two. Any though of yours on that would be great. Sebastien
Posted this channel days ago. Take a look at the touches if you want, its the zoomed out screenshot. Here (http://www.forexfactory.com/attachment.php?attachmentid=175375&d=1227794126). Also Mr Igrok, whats your outlook on the USD/JPY? 92.40/30 we have the descending lower trendline. Also on the dayly we have something like a possible bullish wedge formation that still needs one more leg up to confirm the wedge, so im thinking it might be worth playing the bounce your style with tight stop and reverse order incase the lower border breaks.
  • #2,465
  • Dec 2, 2008 2:04am Dec 2, 2008 2:04am
Quoting Igrok
My chart looks quite different and the trendline can't be drawn the way you did it. Seems your datafeed is far from being perfect.

Update:
Besides who told you that that line might have any significance and why should you expect a bounce? There was a clear bearish divergence on 1h chart targeting the low of 11.25 at 1.2802. Also your stops levels wouldn't have made any sense either. Seems you are yet to learn how to handle your trades and how to make right choices.
Hi Igrok,

The chart I attached is based on 3H and not 1H. I am not quite sure what you meant by "the trendline cant be drawn the way I did" since on the 3H chart, the three touches seems perfect as my image shows. Anyhow I placed significance to this trendline since (based on 3H) it has acted as support for quite a number of days. Was this not correct?. What I failed to see was the divergence on 1H on MACD which you pointed out. I gues that would have filtered out the move to the upside. Yes you are right, I've a long way to go with FX trading


Regards
  • #2,466
  • Dec 2, 2008 3:23am Dec 2, 2008 3:23am
That was a perfect touch on gbp/jpy.
Measure twice, cut once
  • #2,467
  • Dec 2, 2008 4:39am Dec 2, 2008 4:39am
Mr I, could this be a tradeble combo on 4h chart e/u?
I see a little macd div. that could help price break the discending tl, once that happens , if it happens, price could go up to 1.28.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.gif Size: 16 KB
  • #2,468
  • Dec 2, 2008 5:35am Dec 2, 2008 5:35am
Quoting davelochen
Hi Igrok,

The chart I attached is based on 3H and not 1H. I am not quite sure what you meant by "the trendline cant be drawn the way I did" since on the 3H chart, the three touches seems perfect as my image shows. Anyhow I placed significance to this trendline since (based on 3H) it has acted as support for quite a number of days. Was this not correct?. What I failed to see was the divergence on 1H on MACD which you pointed out. I gues that would have filtered out the move to the upside. Yes you are right, I've a long way to go with FX trading...
1. The direction and the minimal target were given to you by the divergence on 1H chart regardless of other time frames.
2. The line you drew on your picture posted cannot be drawn on my own chart the same way cause it just looks totally different.
  • #2,469
  • Dec 2, 2008 5:38am Dec 2, 2008 5:38am
Quoting giusepp8
Mr I, could this be a tradeble combo on 4h chart e/u?
I see a little macd div. that could help price break the discending tl, once that happens , if it happens, price could go up to 1.28.
I don't trade this way. I have already said million of times here that first I chose a level for placing stops and only after that I consider a level for taking actual position.
  • #2,470
  • Dec 2, 2008 5:39am Dec 2, 2008 5:39am
Quoting aediaz1
That was a perfect touch on gbp/jpy.
Yeah, close enough. Looks like a fork pattern to me.
  • #2,471
  • Dec 2, 2008 5:51am Dec 2, 2008 5:51am
Quoting Igrok
I don't trade this way. I have already said million of times here that first I chose a level for placing stops and only after that I consider a level for taking actual position.
Sure sure i remeber ... I actually have already choosen a level for stop and reverse. I didn't say that 'cause it was implied, in my thought or vision of chart obviously.
I understand that some questions may be annoying and i really appreciate your answers.
  • #2,472
  • Dec 2, 2008 5:59am Dec 2, 2008 5:59am
Quoting Igrok
Yeah, close enough. Looks like a fork pattern to me.
I don't see any fork, what do I miss here?
Attached Image (click to enlarge)
Click to Enlarge Name: gp.gif Size: 23 KB
Measure twice, cut once
  • #2,473
  • Dec 2, 2008 8:13am Dec 2, 2008 8:13am
Not sure about higher Time frames but Small expanding on 15m.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.png Size: 75 KB
  • #2,474
  • Dec 2, 2008 8:35am Dec 2, 2008 8:35am
Quoting BentRod
Not sure about higher Time frames but Small expanding on 15m.
Im observing a similar view. Also whats with the funky background coulours you got there buddy?
  • #2,475
  • Dec 2, 2008 8:39am Dec 2, 2008 8:39am
Quoting belekas
Im observing a similar view. Also whats with the funky background coulours you got there buddy?
I've always used those colors.

Grey is Asian, Green European, brown US.

They are out slightly at the moment as I haven't fixed the settings after Dalight saving.
  • #2,476
  • Dec 2, 2008 8:42am Dec 2, 2008 8:42am
Quoting BentRod
I've always used those colors.

Grey is Asian, Green European, brown US.

They are out slightly at the moment as I haven't fixed the settings after Dalight saving.
You have indicator to paint them?
  • #2,477
  • Dec 2, 2008 8:52am Dec 2, 2008 8:52am
Quote
You have indicator to paint them?

yeah, It's called sessions.

You need to adjust the times though.
Colours were to bright for my eyes too thats why I went with the dull ones.

I only use it on 1m-30m, not much use on the higher time frames.
You can change the settings if you go to the "visualision" tab in the indicator.
Attached File(s)
File Type: mq4 Sessions.mq4   8 KB | 493 downloads
  • #2,478
  • Dec 2, 2008 8:59am Dec 2, 2008 8:59am
Quoting BentRod
yeah, It's called sessions.

You need to adjust the times though.
Colours were to bright for my eyes too thats why I went with the dull ones.

I only use it on 1m-30m, not much use on the higher time frames.
You can change the settings if you go to the "visualision" tab in the indicator.
Lets take a look. Thanks for your time mate. Cheers! ;-)
  • #2,479
  • Dec 2, 2008 9:03am Dec 2, 2008 9:03am
Quoting belekas
Lets take a look. Thanks for your time mate. Cheers! ;-)
Welcome mate.

seems weird at first but helps me see main moves, moves within each session etc.
  • #2,480
  • Dec 2, 2008 9:15am Dec 2, 2008 9:15am
This one may be needed also?
Attached File(s)
File Type: ex4 Sessions.ex4   9 KB | 378 downloads
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