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

  • #5,061
  • Mar 14, 2010 6:20pm Mar 14, 2010 6:20pm
A comb in formation on USD/CAD hourly.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #5,062
  • Mar 14, 2010 11:56pm Mar 14, 2010 11:56pm
There is a textbook-perfect "rounded bottom" currently forming on the EUR/USD daily. Hard to say whether it's fully complete or not by now, but my guess would be that it might make another dive before climbing much higher.
  • #5,063
  • Mar 15, 2010 4:28am Mar 15, 2010 4:28am
EUR/USD daily
and
GBP/USD long-term
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  • #5,064
  • Mar 15, 2010 5:39am Mar 15, 2010 5:39am
Quoting Igrok
There is a textbook-perfect "rounded bottom" currently forming on the EUR/USD daily. Hard to say whether it's fully complete or not by now, but my guess would be that it might make another dive before climbing much higher.
Thanx for the confirmation sir, that is what i saw. do you think a test/confirmation of the TL(draw from the last swing high) is in store??

jon
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  • #5,065
  • Mar 15, 2010 6:08am Mar 15, 2010 6:08am
eur/aud looks interesting rught now??

jon
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  • #5,066
  • Mar 15, 2010 6:40am Mar 15, 2010 6:40am
Quoting g_j_hook@yah
Thanx for the confirmation sir, that is what i saw. do you think a test/confirmation of the TL(draw from the last swing high) is in store??

jon
Here's a picture from Igrok's online textbook. (http://www.forexfactory.com/showpost.php?p=3550034&postcount=11)
  • #5,067
  • Mar 15, 2010 6:44am Mar 15, 2010 6:44am
Quoting mizuno
Here's a picture from Igrok's online textbook. (http://www.forexfactory.com/showpost.php?p=3550034&postcount=11)
thanx bro but i know the formation. i was wondering bout this TL?? any opinions?
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  • #5,068
  • Edited 8:10am Mar 15, 2010 7:43am | Edited 8:10am
Quoting g_j_hook@yah
thanx bro but i know the formation. i was wondering bout this TL?? any opinions?
I assume you are talking about the 1.515 to 1.457 (now broken) trendline. I also assume that the question you posed is open to answers by me.
I'd say the trend-line does not make any technical sense because of only two touches. The price did not make a significant pullback just after the second touch. Unless I'm missing something?

I would also recommend to ditch the candlesticks and the moving averages (bars hell yeah!)
  • #5,069
  • Mar 15, 2010 8:13am Mar 15, 2010 8:13am
Quoting mizuno
I assume you are talking about the 1.515 to 1.457 (now broken) trendline. I also assume that the question you posed is open to answers by me.
I'd say the trend-line does not make any technical sense because of only two touches. The price did not make a significant pullback in order for this to qualify as a third touch.

I would also recommend to ditch the candlesticks and the moving averages (bars hell yeah!)
yeah u could be right. i wont take it as valid unless we get a retest from above?? but i see this very often and is one of my fav. setups, if it does come down and give a third touch it could be a good move north??
btw i trade from candles, it is what im used to and candle formations are a big part of my trading.
thanx for the input bro appreciated


jon
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  • #5,070
  • Mar 15, 2010 9:13am Mar 15, 2010 9:13am
Quoting g_j_hook@yah
yeah u could be right. i wont take it as valid unless we get a retest from above?? but i see this very often and is one of my fav. setups, if it does come down and give a third touch it could be a good move north??
btw i trade from candles, it is what im used to and candle formations are a big part of my trading.
thanx for the input bro appreciated


jon
Here's (http://www.forexfactory.com/showpost.php?p=1948296&postcount=1008) Igrok's opinion on bar charts. Also, I, and I think other traders as well would appreciate if everyone kept the charts that they post related to Igrok's method. Also, then I think it would be common sense to expect higher probability of replying from experienced traders.
Regards to the next possible moves, in my opinion because of the bowl formation we could see the price move to 1.36 before going higher up to 1.4 and perhaps beyond, provided that the right side will be a symmetrical reflection of the left side.
Regards to the line retest after breaking, I don't know, I have little experience with those and I don't recall Igrok mentioning anything regards to that.
  • #5,071
  • Mar 15, 2010 10:30am Mar 15, 2010 10:30am
Quote
mizuno;3551899]Here's (http://www.forexfactory.com/showpost.php?p=1948296&postcount=1008) Igrok's opinion on bar charts. Also, I, and I think other traders as well would appreciate if everyone kept the charts that they post related to Igrok's method. Also, then I think it would be common sense to expect higher probability of replying from experienced traders.
why dont you let me worry about any responces i might or might not get??and wether to use bar or candlesticks!?!?
Quote
Regards to the next possible moves, in my opinion because of the bowl formation we could see the price move to 1.36 before going higher up to 1.4 and perhaps beyond, provided that the right side will be a symmetrical reflection of the left side.
i think you will find the formation is allready complete.

Quote
Regards to the line retest after breaking, I don't know, I have little experience with those and I don't recall Igrok mentioning anything regards to that.
at last something relevant to my post, if you dont have an opinion on it why bother to post?? this is my last post on the subject
jon
PATIENCE... DISCIPLINE
  • #5,072
  • Mar 15, 2010 10:43am Mar 15, 2010 10:43am
Quoting g_j_hook@yah
why dont you let me worry about any responces i might or might not get??and wether to use bar or candlesticks!?!?

i think you will find the formation is allready complete.


at last something relevant to my post, if you dont have an opinion on it why bother to post?? this is my last post on the subject
jon
Hey, sorry man, no hard feelings. I was just trying to help.
  • #5,073
  • Mar 15, 2010 1:23pm Mar 15, 2010 1:23pm
If it's a real rounded bottom on EUR/USD then I would say that the current retracement will have to bottom out somewhere at 1.3500-65 zone. By going lower the pattern will lose it's technical significance. I would also ignore a similar formation of a rounded top on USD/CHF as it can easily be spoiled by possible SNB intervention.
  • #5,074
  • Mar 15, 2010 1:28pm Mar 15, 2010 1:28pm
Quoting Igrok
If it's a real rounded bottom on EUR/USD then I would say that the current retracement will have to bottom out somewhere at 1.3500-65 zone. By going lower the pattern will lose it's technical significance.
Thanks Igrok, I was trying to figure out at what point it would become invalid.
  • #5,075
  • Mar 15, 2010 7:35pm Mar 15, 2010 7:35pm
Quoting Igrok
If it's a real rounded bottom on EUR/USD then I would say that the current retracement will have to bottom out somewhere at 1.3500-65 zone. By going lower the pattern will lose it's technical significance. .....
Hi Mr Igrok,

Thank you for your guidance here. I'm really eager to learn from you. Could you please explain how you come up with 1.3500-65 as the possible bottom for the retracement?
  • #5,076
  • Mar 15, 2010 9:35pm Mar 15, 2010 9:35pm
Quoting mizuno
Hey, sorry man, no hard feelings. I was just trying to help.
hey bro,
g_j is not a newbie in this thread. u can check his post history. also he joined FF 1 year ahead of u
anyway, u had good intentions so it's all good.
  • #5,077
  • Mar 16, 2010 5:56am Mar 16, 2010 5:56am
GOLD probably diamond
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  • #5,078
  • Edited 10:58am Mar 16, 2010 7:19am | Edited 10:58am
gold ?
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  • #5,079
  • Mar 16, 2010 10:52am Mar 16, 2010 10:52am
Quoting supremeChaos
hey bro,
g_j is not a newbie in this thread. u can check his post history. also he joined FF 1 year ahead of u
anyway, u had good intentions so it's all good.
thanx SC, but no worries. i have no problem, all is well that ends well.

cheers

jon
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  • #5,080
  • Mar 16, 2010 10:55am Mar 16, 2010 10:55am
Quoting Igrok
If it's a real rounded bottom on EUR/USD then I would say that the current retracement will have to bottom out somewhere at 1.3500-65 zone. By going lower the pattern will lose it's technical significance. I would also ignore a similar formation of a rounded top on USD/CHF as it can easily be spoiled by possible SNB intervention.
thank you sir.

jon
PATIENCE... DISCIPLINE
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