Measure twice, cut once
Igrok Method. Q's & A's. Comments, thoughts and ideas
- #6,383
- Jan 11, 2011 7:43am Jan 11, 2011 7:43am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
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.
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
- #6,385
- Jan 11, 2011 8:19am Jan 11, 2011 8:19am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
[quote=Nokaut;4304524]
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.
I cheated and bought it near the bottom of todays range
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
Measure twice, cut once
- #6,390
- Jan 12, 2011 4:41am Jan 12, 2011 4:41am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #6,392
- Jan 12, 2011 5:28am Jan 12, 2011 5:28am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
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
Measure twice, cut once
- #6,393
- Jan 12, 2011 5:47am Jan 12, 2011 5:47am
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
- #6,394
- Jan 12, 2011 5:48am Jan 12, 2011 5:48am
- | Joined May 2010 | Status: Looking for the KO trade | 471 Posts
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
- #6,396
- Jan 12, 2011 9:01am Jan 12, 2011 9:01am
- | Joined May 2010 | Status: Looking for the KO trade | 471 Posts
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...
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
- #6,397
- Jan 12, 2011 9:15am Jan 12, 2011 9:15am
- | Joined May 2010 | Status: Looking for the KO trade | 471 Posts
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
...for some reason that channel is stuck in my head...
- #6,400
- Jan 13, 2011 12:17am Jan 13, 2011 12:17am
- | Joined May 2010 | Status: Looking for the KO trade | 471 Posts
[quote=ernesto;4309715]
Looks promising, I'm very tempted to trade this
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...