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

  • #3,181
  • Edited 2:52am Mar 18, 2009 2:38am | Edited 2:52am
Quoting aediaz1
Well, at least the MMOT/W/M/Y is up
Yes. Did you manage to catch the bearish breakout of the geppy triangle? Ive managed to book in some pips and looks like GBP is sinking. Unemployement news came out bad.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy_h4_beartriangle_180309.jpg Size: 96 KB
  • #3,182
  • Mar 18, 2009 2:54am Mar 18, 2009 2:54am
Quoting belekas
Yes. Did you manage to catch the bearish breakout of the geppy triangle? Ive managed to book in some pips and looks like GBP is sinking. Unemployement news came out bad.
No, but maybe we have our crisis back
Measure twice, cut once
  • #3,183
  • Edited Mar 19, 2009 2:16am Mar 18, 2009 10:23am | Edited Mar 19, 2009 2:16am
Swissey had a nice 1hr comb that played out just great. Thumbs up to those who rode the bear down the hill What a dive.

edit: and USD/JPY had a beautifull 4hr comb as well.
  • #3,184
  • Mar 18, 2009 3:14pm Mar 18, 2009 3:14pm
Quoting ernesto
Currently watching this formation... if it breaks to the downside I would expect a target of 1.24. Any thoughts are welcome.
Target closely reached... closed my position @ 1.243.
  • #3,185
  • Edited 3:40pm Mar 18, 2009 3:23pm | Edited 3:40pm
Took a (risky) long position on USDCHF @ 1.138...

Main move of the year is up... and we still have the monthly divergence with target 1.33.

Further... I see a broadening triangle which eventually might form a bullish continuation diamond (not a perfect one... but... ok for me) as we just might have formed the main diagonal. No evidence for that right now - but a small stop justified taking a small position.

In addition... connecting the low of 1995 and 2004 adds a supporting line exactly at that level. Just an observation... I know that Igrok does not take into account such lines as the line was taken out in 2007 and thereafter... as said... just an observation.

Somehow have the feeling that I can keep this position till year end... if I am wrong I don't worry either...

Somebody any thoughts on USDCHF?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF_20090318_re.JPG Size: 49 KB
  • #3,186
  • Mar 19, 2009 3:43am Mar 19, 2009 3:43am
could that be a comb forming on the 1h eu/gb chart??
PATIENCE... DISCIPLINE
  • #3,187
  • Mar 19, 2009 3:44am Mar 19, 2009 3:44am
Quoting g_j_hook@yah
could that be a comb forming on the 1h eu/gb chart??
To early to say. Give her a little time and then take a look.
  • #3,188
  • Mar 19, 2009 3:48am Mar 19, 2009 3:48am
Hello Igrok. Hope all is well at your end. This picture looks like a played out H&S pattern. The right shoulder is the same high as the left and the neckline has been providing support before the breakout. So does this quallify for a H&S pattern in your book?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_chf_h1_supporttlbreak_180309.jpg Size: 80 KB
  • #3,189
  • Mar 19, 2009 4:16am Mar 19, 2009 4:16am
Quoting belekas
To early to say. Give her a little time and then take a look.
relooked at it on the 15 and it looked like a bearish diamond(also 5 min tf).anyway luck or not i scalped 20 pips on the break.
what do you think
thanx jon
EDIT: added chart
Attached Image (click to enlarge)
Click to Enlarge Name: 5min.jpg Size: 140 KB
PATIENCE... DISCIPLINE
  • #3,190
  • Mar 19, 2009 4:30am Mar 19, 2009 4:30am
Quoting g_j_hook@yah
relooked at it on the 15 and it looked like a bearish diamond(also 5 min tf).anyway luck or not i scalped 20 pips on the break.
what do you think
thanx jon
EDIT: added chart
I dont watch small timeframes and only switch to them prior entering a position if thats needed. I believe bigger timeframes is the key but also i have seen beautifull diamonds on 1m/5m charts. Yours is not a diamond from the first glance.
  • #3,191
  • Mar 20, 2009 12:36am Mar 20, 2009 12:36am
Hi Igrok and the crew. Im observing CHF/JPY and the picture doesnt make much sense. Is this an early state of diamond birth, as the left side appears to be or is in the making of expandable triangle. 4hr and dayly timeframes. Any comments are welcome.
  • #3,192
  • Mar 20, 2009 6:48am Mar 20, 2009 6:48am
i'm a beginner when it comes to diamonds, & Igrok has stricter rules for its validity, so not sure if it is a diamond on chfjpy H4/Daily.

But if indeed it was, i think it already has broken to the upside. (right triangle via March10 & Mar19 highs; sorry can't post a picture)

I think if price pulls back to 84.50-85.00 &/or price breaks above (initial resistance) 86-87 then possibly it can be added confirmation of it being a valid diamond. upside, could hit resistance at 90, 93.00, 98-98.50 (i'm guesstimating, not trading/never traded chfjpy :nerd:blush:

Let's see what happens & hopefully, if his time permits, maybe Igrok can comment on chfjpy too.
  • #3,193
  • Mar 20, 2009 7:14am Mar 20, 2009 7:14am
EUR/GBP 1hr comb
  • #3,194
  • Mar 20, 2009 9:28am Mar 20, 2009 9:28am
belekas,
did u take it? has been going down. 0.93-0.9350 seems possible. it's probably taking a rest before the next run-up. Let's see..
  • #3,195
  • Mar 20, 2009 11:10am Mar 20, 2009 11:10am
Quoting supremeChaos
belekas,
did u take it? has been going down. 0.93-0.9350 seems possible. it's probably taking a rest before the next run-up. Let's see..
No, i was out when it happened. That might not be a legit comb as the LL is not in the pattern. Break has no momentum and we are fighting the strong bullish move. Possible 1hr bearish channel with bottom at current low. Possible "kiss of death" on the upper border to let the bulls out. Let us see.
  • #3,196
  • Mar 20, 2009 12:16pm Mar 20, 2009 12:16pm
Mr Igrok, can this be a Swissey continuation diamond in progress? A higher low of the bounce from 1.07 would be nice for starters. Lower border is just a projection of my ruff guess for now. Will consider buying opportunity if we get there in time. Still needs alot of time to mature but we are talking probabilitys here. Would feel really good to catch the bottom and hopefully to add on its way to new highs considering the possible outcome of this possible diamond beying around nearly 2000 pips.

...and also wanted to ask why you dont recommend trading descending support breakouts. Asking as today price broke such TL (3 touches) and dropped 200 pips right to the next resistance layer. Not the first time im observing such breakouts, and think why it doesnt make sense to you?

Appriceate your time and effort. Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: swissey.jpg Size: 97 KB
  • #3,197
  • Mar 20, 2009 12:35pm Mar 20, 2009 12:35pm
4th touch UTL on CHF/JPY dayly. That might have been a continuation diamond broken to the upside that wants to play out now. Buying above resistance would make sense Also CAD/JPY has a nice UTL with 3 touches (4hr)
  • #3,198
  • Mar 20, 2009 1:15pm Mar 20, 2009 1:15pm
i'd play them whichever way..

eurgbp went 10pips shy of 0.9350. eur is indeed very strong; gbp (fundamentally & technically) weak like the dollar. having said that, i expect price to reach 0.96-0.98 anytime soon.... & parity in a few months?

chfjpy run up straight to 85.50-ish before reversing.
  • #3,199
  • Mar 20, 2009 5:43pm Mar 20, 2009 5:43pm
Quoting belekas
Mr Igrok, can this be a Swissey continuation diamond in progress? A higher low of the bounce from 1.07 would be nice for starters. Lower border is just a projection of my ruff guess for now. Will consider buying opportunity if we get there in time. Still needs alot of time to mature but we are talking probabilitys here. Would feel really good to catch the bottom and hopefully to add on its way to new highs considering the possible outcome of this possible diamond beying around nearly 2000 pips.

...and also wanted to ask why you dont recommend...
my u/chf shorts.
  • #3,200
  • Edited 1:30am Mar 21, 2009 12:58am | Edited 1:30am
Quoting belekas
Mr Igrok, can this be a Swissey continuation diamond in progress? A higher low of the bounce from 1.07 would be nice for starters. Lower border is just a projection of my ruff guess for now. Will consider buying opportunity if we get there in time. Still needs alot of time to mature but we are talking probabilitys here. Would feel really good to catch the bottom and hopefully to add on its way to new highs considering the possible outcome of this possible diamond beying around nearly 2000 pips.

...and also wanted to ask why you dont recommend...
I have been expecting this pattern to unfold for quite a while. However I'm still not sure about it's origin and meaning. Possibly a diamond but something is not completely right in there.
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