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

  • #3,261
  • Mar 31, 2009 5:41am Mar 31, 2009 5:41am
is this correct??
thanx in advance, jon
Attached Image (click to enlarge)
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PATIENCE... DISCIPLINE
  • #3,262
  • Mar 31, 2009 7:29am Mar 31, 2009 7:29am
I'm not sure what a double diamond looks like, a guess?
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  • #3,263
  • Mar 31, 2009 9:32am Mar 31, 2009 9:32am
Sir Igrok,
is this diamond correct? I mentioned this previously (March20).. After forming a double top, price retested the line around 83.35 before shooting up again..
Thanks!

Previous Post (http://www.forexfactory.com/showpost.php?p=2618335&postcount=3192)
Quote
....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,..
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy h4 diamond mar'09.gif Size: 30 KB
  • #3,264
  • Mar 31, 2009 9:46am Mar 31, 2009 9:46am
[quote][NO charts, but....
Dow is currently staying above (what i think is critical) 7550-7600 area. pushing for 7665 (61.8Fib of Jan28 high-Mar6 Low) . dragging jpy crosses with it.. Dow possible next resistance 7950-8000, then 8150. Hmmm.. Let's see where this bear market rally goes... /QUOTE]

Last March23 (http://www.forexfactory.com/showpost.php?p=2623233&postcount=3224), i tried to analyse Dow...
now, we can see price was rejected almost 20 pips from expected resistance at 7950..
Probably, it is now in consolidation (7200/7400-7600 area??) , so let's see how bullish the March candle/bar will end? Hmmm.. more upside in jpy crosses to come?
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  • #3,265
  • Mar 31, 2009 9:51am Mar 31, 2009 9:51am
No disrespect but this thread is for q's & a's on Igrok's method. Reading your post i couldnt find anything that is related to it.

Quote
[NO charts, but....
Dow is currently staying above (what i think is critical) 7550-7600 area. pushing for 7665 (61.8Fib of Jan28 high-Mar6 Low) . dragging jpy crosses with it.. Dow possible next resistance 7950-8000, then 8150. Hmmm.. Let's see where this bear market rally goes... /QUOTE]

Last March23 (http://www.forexfactory.com/showpost.php?p=2623233&postcount=3224), i tried to analyse Dow...
now, we can see price was rejected almost 20 pips from expected resistance at 7950..
Probably, it is now in consolidation...
  • #3,266
  • Mar 31, 2009 10:40am Mar 31, 2009 10:40am
I was thinking the breakout would be down, not up.
Attached Image (click to enlarge)
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  • #3,267
  • Mar 31, 2009 10:42am Mar 31, 2009 10:42am
Quoting tenshi
I was thinking the breakout would be down, not up.
Your lines doesnt make any technical sense.
  • #3,268
  • Mar 31, 2009 11:13am Mar 31, 2009 11:13am
belekas,
thanks for reminding me. U beat me by posting 1hour earlier... LOL
Forgot to add the broadening formation on Dow H4 (Swing highs & Swing Lows from March16).

Also, it was merely a supplement for the chfjpy diamond (& other jpy crosses) analysis/question i posted earlier(/Last week)
  • #3,269
  • Mar 31, 2009 12:01pm Mar 31, 2009 12:01pm
Quote
I was thinking the breakout would be down, not up.
tenshi,
the breakout to the upside is in line with weakness of jpy & move up in Dow (stocks' correlation with jpy crosses).

Also, your diamond lines (your "double diamond") are incorrect. It should be one diamond, instead of two side by side like in your chart. I'm no expert in it so let's wait for Sir Igrok for that.

see this (http://www.forexfactory.com/showthread.php?p=1817249) page for several diamonds posted by him.

A rough sketch, i think, of a dual diagonal diamond (recent gbpjpy M15 chart) would be something like this. (Yellow V-shape describes a dual diagonal diamond; see Igrok's charts in the page above for comparison)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy m15 dualdiagonal diamond mar'3109.gif Size: 22 KB
  • #3,270
  • Mar 31, 2009 12:14pm Mar 31, 2009 12:14pm
Here is what I talked about on gbp/chf. How lovely it is taking a trade on gbpchf with just a 35 pip SL
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPCHF 3_31_2009 (60 Min).jpg Size: 124 KB
Measure twice, cut once
  • #3,271
  • Mar 31, 2009 12:20pm Mar 31, 2009 12:20pm
Quoting aediaz1
Here is what I talked about on gbp/chf. How lovely it is taking a trade on gbpchf with just a 35 pip SL
Nice one mate! Im still in process switching to TradeStation. Looking at my old Alpari feed the lower border is invalid
  • #3,272
  • Mar 31, 2009 12:42pm Mar 31, 2009 12:42pm
Quoting belekas
Nice one mate! Im still in process switching to TradeStation. Looking at my old Alpari feed the lower border is invalid
Check out MCFX too. Its like the new version of TS, but just for forex.
Measure twice, cut once
  • #3,273
  • Edited 1:48pm Mar 31, 2009 12:50pm | Edited 1:48pm
Quoting aediaz1
Check out MCFX too. Its like the new version of TS, but just for forex.
You think its based on TS? I mean will i get that lovely feature to paint each trading day in different colour, i wonder. Mr Igrok can you tell me how do you enable the different colours used option for each trading day on TS? Thank you.
  • #3,274
  • Mar 31, 2009 7:53pm Mar 31, 2009 7:53pm
Quoting belekas
Your lines doesnt make any technical sense.
Thanks Belekas, I appreciate your input. I am still learning.
Mr Igrok stated that this could have been a dual-diagonal diamond set up. I would be interested to know what shape he was thinking about. In your opinion what, where would you have drawn the trend lines?

thanks in advance for you time
Jon
  • #3,275
  • Mar 31, 2009 11:50pm Mar 31, 2009 11:50pm
Quote
How lovely it is taking a trade on gbpchf with just a 35 pip SL

Sounds great aediaz1, congrats... Too bad the tiny 35 pip SL was not hit.

Curious..... How long have u used MCFX? what are your observations with & comparison w/ MT4? & how has the use of it affect/improve your use of MT4?
MCFX uses DTN IQFeed & eSignal... this i Like.

Thanks!
  • #3,276
  • Apr 1, 2009 1:40am Apr 1, 2009 1:40am
Quoting aediaz1
Here is what I talked about on gbp/chf. How lovely it is taking a trade on gbpchf with just a 35 pip SL
Hi aediaz1 - this diamondology is quite an art, it seems that I am being too pedantic about looking for the triangle formation on the left. I still have some way to go because for me at a first glance I would not have seen it.
  • #3,277
  • Apr 1, 2009 2:07am Apr 1, 2009 2:07am
Looks like GBP/JPY failed to avoid bullish MACD crossover yesterday and the minimum must reach target is around 145 on 4hr. Looking at 1hr i see a bearish divergence pointing down to the lows of 135.69 so my question is which one of these 2 we should take under consideration? Igrok, can you ellaborate a little on this issue? Thank you.
  • #3,278
  • Apr 1, 2009 2:20am Apr 1, 2009 2:20am
Quoting HapaSasa
Hi aediaz1 - this diamondology is quite an art, it seems that I am being too pedantic about looking for the triangle formation on the left. I still have some way to go because for me at a first glance I would not have seen it.
No doubt! This scenario seemed so obvious even to me leaving me with no other option but to trade it. Easiest 160 pips I've seen in a long time
Measure twice, cut once
  • #3,279
  • Edited 3:04am Apr 1, 2009 2:25am | Edited 3:04am
Igor, the basic theory as I understand from this thread is the breakout will be opposite to the direction of the main diagonal, as in this picture. However, what makes up a DUAL diagonal diamond? Perhaps just the simple fact that the diamond has 2 diagonals to it?

Also, after reading your book and your Currency Trader article which seems to well describe the application of template 18.4, one wonders:
Are there templates 1 to 17?
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_diamond.gif Size: 15 KB
  • #3,280
  • Apr 1, 2009 3:38am Apr 1, 2009 3:38am
Quoting tenshi
Igor, the basic theory as I understand from this thread is the breakout will be opposite to the direction of the main diagonal, as in this picture. However, what makes up a DUAL diagonal diamond? Perhaps just the simple fact that the diamond has 2 diagonals to it?

Also, after reading your book and your Currency Trader article which seems to well describe the application of template 18.4, one wonders:
Are there templates 1 to 17?
to be honest i dont think you have it right yet,the tls have to be started from a swing h/l.without a starting point they can be fit to any price movement,depending only on how imaginitive you can be!!
not sure myself but i think mine was the correct one??
hope igrok can find the time to clafify the matter.
regards jon
PATIENCE... DISCIPLINE
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