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

  • #6,381
  • Jan 11, 2011 5:44am Jan 11, 2011 5:44am
Flat surface on gbp/chf.
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPCHF (30 Min) 1_11_2011.gif Size: 30 KB
Measure twice, cut once
  • #6,382
  • Jan 11, 2011 9:29am Jan 11, 2011 9:29am
Quoting aediaz1
Flat surface on gbp/chf.
Hi Aediaz

I was looking at that throughout the day, but wanted to stick to the 40 pip outside daily range rule you mentioned, so didn't have a stop for it. Damn... it just skyrocketed.
  • #6,383
  • Jan 11, 2011 9:43am Jan 11, 2011 9:43am
Quoting Nokaut
Hi Aediaz

I was looking at that throughout the day, but wanted to stick to the 40 pip outside daily range rule you mentioned, so didn't have a stop for it. Damn... it just skyrocketed.
I cheated and bought it near the bottom of todays range Flat surfaces rarely last long and the R:R in this case made it worthwhile.

PS: not sure if it was a typo but its outside the daily range, usually not more than 40 pips, not 40 pips outside the daily range.
Measure twice, cut once
  • #6,384
  • Jan 11, 2011 10:09am Jan 11, 2011 10:09am
[quote=aediaz1;4304447]I cheated and bought it near the bottom of todays range Flat surfaces rarely last long and the R:R in this case made it worthwhile.

Hehe, masterful

Yeah, sorry was a typo. In this case my stop would have been over 60 if placed below the low of the day.

Thanks
  • #6,385
  • Jan 11, 2011 10:19am Jan 11, 2011 10:19am
[quote=Nokaut;4304524]
Quoting aediaz1
I cheated and bought it near the bottom of todays range Flat surfaces rarely last long and the R:R in this case made it worthwhile.

Hehe, masterful

Yeah, sorry was a typo. In this case my stop would have been over 60 if placed below the low of the day.

Thanks
That is correct. In this scenario I didn't get any entry-signals, except the break of course. But considering the strong uptrend, a perfect flat surface formed at 1.5100, a small intraday range combined with the experience of seeing every flat surfaces getting broken fast gave me the confidence to shot for 100+ pips.
Measure twice, cut once
  • #6,386
  • Jan 11, 2011 7:36pm Jan 11, 2011 7:36pm
[quote=aediaz1;4304554]
Quoting Nokaut

That is correct. In this scenario I didn't get any entry-signals, except the break of course. But considering the strong uptrend, a perfect flat surface formed at 1.5100, a small intraday range combined with the experience of seeing every flat surfaces getting broken fast gave me the confidence to shot for 100+ pips.
Thanks for the explanation. Will takes all these things into account next time.
  • #6,387
  • Jan 12, 2011 5:22am Jan 12, 2011 5:22am
Nice NZDJPY trendline bounces...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_ 2011.01.1201.jpg Size: 61 KB
  • #6,388
  • Jan 12, 2011 6:20am Jan 12, 2011 6:20am
Weekly 18.4 on kiwi, let us see if it manages to break actual support to free fall:nerd:
Attached Image (click to enlarge)
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  • #6,389
  • Jan 12, 2011 6:24am Jan 12, 2011 6:24am
Possibly a diamond forming on EURCHF?
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF diamond.JPG Size: 140 KB
  • #6,390
  • Jan 12, 2011 6:41am Jan 12, 2011 6:41am
Quoting PutaMadre
Weekly 18.4 on kiwi, let us see if it manages to break actual support to free fall:nerd:
Yes, its a nice one too.


Quoting forexshark
Possibly a diamond forming on EURCHF?
I would be very suprised if this doesn't turn out to be a reversal-diamond.
Measure twice, cut once
  • #6,391
  • Jan 12, 2011 7:11am Jan 12, 2011 7:11am
Quoting aediaz1

I would be very suprised if this doesn't turn out to be a reversal-diamond.
Hey aediaz, hope your well bro. Do you think we've seen the bottom of EURCHF already? Just wanted to know your thoughts, my own opinion is anything can happen, the Euro is very bearish at the moment, people might see CHF as safe haven. Although as Igrok traders we're not supposed to follow news LOL
  • #6,392
  • Jan 12, 2011 7:28am Jan 12, 2011 7:28am
Quoting niteshift02
Hey aediaz, hope your well bro. Do you think we've seen the bottom of EURCHF already? Just wanted to know your thoughts, my own opinion is anything can happen, the Euro is very bearish at the moment, people might see CHF as safe haven. Although as Igrok traders we're not supposed to follow news LOL
Hi. I just noticed the main diagonal pointed upward not down as I first thought. We have div-targets high up on this pair and weekly div is a possibility as well. I'm not that confident it will break upward now but it doesn't matter as long as we follow the template. Luckily, we are traders not fortune-teller
Measure twice, cut once
  • #6,393
  • Jan 12, 2011 7:47am Jan 12, 2011 7:47am
Quoting niteshift02
Hey aediaz, hope your well bro. Do you think we've seen the bottom of EURCHF already? Just wanted to know your thoughts, my own opinion is anything can happen, the Euro is very bearish at the moment, people might see CHF as safe haven. Although as Igrok traders we're not supposed to follow news LOL
Sometimes It's funny to see how market breaks down majority of participants expectations. Last year i had a finance class at the univercity, and it was abbout the time, when the news came that fed is injecting a solid amount of greens to bail out econimcs, so my teacher started yelling that its about the time to sell out dollar savings, according to increased supply of currency. But actualy next day dollar started to rally across most of currencys. I had some shorts on AUD/USD by that time, it was funny to discuss whith him few weeks latter
  • #6,394
  • Jan 12, 2011 7:48am Jan 12, 2011 7:48am
Quoting aediaz1
Hi. I just noticed the main diagonal pointed upward not down as I first thought. We have div-targets high up on this pair and weekly div is a possibility as well. I'm not that confident it will break upward now but it doesn't matter as long as we follow the template. Luckily, we are traders not fortune-teller
Thanks for your reply. Wish I was a fortune teller, might make trading easier LOL
  • #6,395
  • Jan 12, 2011 8:29am Jan 12, 2011 8:29am
Have a look at USDJPY 30 min chart.

Potentially a dual-diagonal diamond is in the making there...

Areas of interest inside the potential diamond:

83.7 -> 82.9 -> 83.35

Let's see...
  • #6,396
  • Jan 12, 2011 11:01am Jan 12, 2011 11:01am
Quoting ernesto
Have a look at USDJPY 30 min chart.

Potentially a dual-diagonal diamond is in the making there...

Areas of interest inside the potential diamond:

83.7 -> 82.9 -> 83.35

Let's see...
USDJPY looks interesting, don't know if it will be a dual diagonal the way it's looking at the moment.

Also interesting was the way the EURCHF diamond turned out, maybe not a diamond at all (lack of symmetry perhaps)? Looking more like a channel which Belekas called earlier today, and aediaz, looking more like your initial assessment was correct

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  • #6,397
  • Jan 12, 2011 11:15am Jan 12, 2011 11:15am
Quoting niteshift02
USDJPY looks interesting, don't know if it will be a dual diagonal the way it's looking at the moment.

Also interesting was the way the EURCHF diamond turned out, maybe not a diamond at all (lack of symmetry perhaps)? Looking more like a channel which Belekas called earlier today, and aediaz, looking more like your initial assessment was correct

Attachment
Attachment
Actually Belekas called it as a dual diagonal, sorry Bel my bad ...for some reason that channel is stuck in my head...
  • #6,398
  • Jan 12, 2011 3:29pm Jan 12, 2011 3:29pm
GBP/CAD 4hr. I smell $$$ =)
Attached Image (click to enlarge)
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  • #6,399
  • Jan 12, 2011 10:53pm Jan 12, 2011 10:53pm
[quote=niteshift02;4308153]USDJPY looks interesting, don't know if it will be a dual diagonal the way it's looking at the moment.

Seems to be a standard diamond now... diagonal down, tf break upwards expected...
  • #6,400
  • Jan 13, 2011 2:17am Jan 13, 2011 2:17am
[quote=ernesto;4309715]
Quoting niteshift02
USDJPY looks interesting, don't know if it will be a dual diagonal the way it's looking at the moment.

Seems to be a standard diamond now... diagonal down, tf break upwards expected...
Looks promising, I'm very tempted to trade this

Attached Image (click to enlarge)
Click to Enlarge Name: uj diamond 13 jan.gif Size: 17 KB
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