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

  • #5,681
  • Jun 7, 2010 7:49am Jun 7, 2010 7:49am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Thanks for the warm welcome! After closer inspection of the diamond, I'm pretty sure I see what you're talking about. I'm positive as I review more and more charts I'll get the swing of things. The technical literacy in this thread is great, although I'm going to have to unlearn some things, but all in all looking forward to picking up these simple yet powerful set-ups.
(http://www.forexfactory.com/showpost.php?p=1758904&postcount=734)
"Wishful thinking dies hard." Igor T.
  • #5,682
  • Jun 7, 2010 11:27am Jun 7, 2010 11:27am
Example of triangle setup on todays silver price
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  • #5,683
  • Jun 7, 2010 12:08pm Jun 7, 2010 12:08pm
Quoting PutaMadre
Example of triangle setup on todays silver price
Nice 1 man. Could be played as the #20.6 if you miss the bottom of it.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #5,684
  • Jun 8, 2010 6:49pm Jun 8, 2010 6:49pm
I dont have my terminal with me here with my feed. But looks like fiber formed a diamond om m30. Can anyone confirm? I am looking at a chart on my mobile.
  • #5,685
  • Jun 8, 2010 6:58pm Jun 8, 2010 6:58pm
Quoting jupiter_peak
I dont have my terminal with me here with my feed. But looks like fiber formed a diamond om m30. Can anyone confirm? I am looking at a chart on my mobile.
Here's a 30M...I couldn't make out a diamond.

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  • #5,686
  • Jun 8, 2010 7:09pm Jun 8, 2010 7:09pm
Quoting uraceulose
Here's a 30M...I couldn't make out a diamond.

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Ok thanks. From the chart I have from mobile CMS it seemed like one.
  • #5,687
  • Jun 8, 2010 7:10pm Jun 8, 2010 7:10pm
Quoting jupiter_peak
Ok thanks. From the chart I have from mobile CMS it seemed like one.
No problem. thank you, i just like to learn
  • #5,688
  • Jun 8, 2010 8:28pm Jun 8, 2010 8:28pm
Quoting uraceulose
No problem. thank you, i just like to learn
Here is a way for USDx to tell Fiber where to go: "Luke, I am your father!!!!"

lol.

Cheers,

JP.
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  • #5,689
  • Jun 9, 2010 12:19am Jun 9, 2010 12:19am
JP.

Thank you so much for the chart! Sorry it took me so long to reply, I had to run out for "honey doo's"..

Donnie
  • #5,690
  • Jun 9, 2010 1:00am Jun 9, 2010 1:00am
Quoting PutaMadre
Example of triangle setup on todays silver price
although a triangle/wedge, the second point of the lower border should be here i think? see chart, not much difference in this case but a big difference to know the difference lol
jon
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PATIENCE... DISCIPLINE
  • #5,691
  • Jun 9, 2010 3:06am Jun 9, 2010 3:06am
Quoting g_j_hook@yah
although a triangle/wedge, the second point of the lower border should be here i think? see chart, not much difference in this case but a big difference to know the difference lol
jon
Hi g_j, hi everyone

I would tend to agree. Although I'm still learning, my understanding is that a trendline should have a minimum of 3 points/touches to make it valid, which the lower TL does in your case. However, on a valid triangle, there is the opinion that one side can have 2 touches as long as the other has 3, so now this becomes a matter of interpretation.

With your TLs, the lower TL is broken, so maybe we class this as a 'false break', and in the end it is a valid false break as price broke through the upper TL.

Anyone care to clarify/discuss this issue further?
  • #5,692
  • Jun 9, 2010 8:06am Jun 9, 2010 8:06am
USDCHF H4
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  • #5,693
  • Edited 7:55pm Jun 9, 2010 7:41pm | Edited 7:55pm
Let me show you this trade I took today. ADR was already met and a very steep trend line was exposed on lower time frames. There was also bearish MACD divergence for entry signal and target.

ADR met + Steep TL break + MACD divergence = good plan.

Let me say that target was reached to the pip.

A very safe trade with roughly a 1:5 R/R.

Cheers,

JP.
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  • #5,694
  • Jun 10, 2010 1:35am Jun 10, 2010 1:35am
Quoting jupiter_peak
Let me show you this trade I took today. ADR was already met and a very steep trend line was exposed on lower time frames. There was also bearish MACD divergence for entry signal and target.

ADR met + Steep TL break + MACD divergence = good plan.

Let me say that target was reached to the pip.

A very safe trade with roughly a 1:5 R/R.

Cheers,

JP.
Perfect TL, a lot of confluence, love it
Measure twice, cut once
  • #5,695
  • Jun 10, 2010 10:59am Jun 10, 2010 10:59am
Good day to all,

Something interesting is developing:

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If this is not a 'broadening triangle' someone needs to tell me why
  • #5,696
  • Jun 10, 2010 1:49pm Jun 10, 2010 1:49pm
Similar setups as the one I posted yesterday.

This time on aussie and kiwi.

TL on lower tfs + div + a "kiss of death" break + exhausted ADR = good plan.

Lets see how this combination plays out once again.

Cheers,

JP.
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  • #5,697
  • Jun 10, 2010 2:18pm Jun 10, 2010 2:18pm
I wasn't able to trade this break. Was out.

But yesterday night I was predicting this...


Have a look at the charts.

H4: decision time - 5th touch breakout + MACD divergence pointing to 1.5057.
D1: Descending channel. However, an ascending channel clearly seen on RSI. Divergence.
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  • #5,698
  • Jun 10, 2010 2:40pm Jun 10, 2010 2:40pm
Quoting jupiter_peak
Similar setups as the one I posted yesterday.

This time on aussie and kiwi.

TL on lower tfs + div + a "kiss of death" break + exhausted ADR = good plan.

Lets see how this combination plays out once again.

Cheers,

JP.

Looking good JP, I will try one of these setups now. I'm looking at using #20.6 for these ones. Where do you usually place the stops? The template says other side of day range or other technical level. I'm thinking 10-20 pips other side of TL, or am I being overly cautious. We won't know the day range until PA reverses.
  • #5,699
  • Jun 10, 2010 3:41pm Jun 10, 2010 3:41pm
Quoting niteshift02
Looking good JP, I will try one of these setups now. I'm looking at using #20.6 for these ones. Where do you usually place the stops? The template says other side of day range or other technical level. I'm thinking 10-20 pips other side of TL, or am I being overly cautious. We won't know the day range until PA reverses.
On yesterdays example, 10 pips SL did the job nicely. in this case, could hide it above HH or discretionary like a 10-15 sl.

In any case, it's a good R:R trade...

JP.
  • #5,700
  • Jun 10, 2010 5:25pm Jun 10, 2010 5:25pm
Quoting jupiter_peak
On yesterdays example, 10 pips SL did the job nicely. in this case, could hide it above HH or discretionary like a 10-15 sl.

In any case, it's a good R:R trade...

JP.
Thanks JP. Yeah, R:R is excellent, that's the beauty of this system

Good trading, and good luck to Brazil in the World Cup. I hope the football dosen't interfere with our trading!
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