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

  • #6,981
  • Sep 7, 2011 6:22am Sep 7, 2011 6:22am
Quoting marcb
Hi Mauro,

I have been following AUDUSD ...
What is your opinion on this?

I am waiting for 1.08 to short it but I am not sure ...

Thanks
Marco
AUDUSD was a big deception to me. After jumping in and making 100+ floating profit, price came all the way back just to hit my SL.
  • #6,982
  • Sep 7, 2011 6:44am Sep 7, 2011 6:44am
Quoting jupiter_peak
AUDUSD was a big deception to me. After jumping in and making 100+ floating profit, price came all the way back just to hit my SL.
Still holding it. Have already closed the bigger part of the position. Had 230 of floating and just watched it climbing back today. 100 pips left and I am thinking to close the rest later today. Thoughts of the TP at AWR are fading.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_110907_m15.gif Size: 18 KB
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  • #6,983
  • Sep 8, 2011 10:56am Sep 8, 2011 10:56am
Hi Mauro,
I closed my EURUSD long at break even :=)
What do you think about EURUSD ?
It looks like it broke the diamond going south and the next levels should be 1.36 and lower

Thanks
Marco
Quoting jupiter_peak
1.3978(entry) and SL @1.3950. TP at 84% AWR.

However, notice that this is a totally counter trend trade. I RARELY trade like this. However, we had excessive range today, and there are plenty of confirmed MACD divergences .

Fingers crossed.
  • #6,984
  • Sep 8, 2011 11:11am Sep 8, 2011 11:11am
Quoting marcb
Hi Mauro,
I closed my EURUSD long at break even :=)
What do you think about EURUSD ?
It looks like it broke the diamond going south and the next levels should be 1.36 and lower

Thanks
Marco
1.37 is an initial target as price is inside a descending channel. The support TL is around that level.
  • #6,985
  • Sep 8, 2011 1:47pm Sep 8, 2011 1:47pm
How likely will be that EURUSD will re-test the lower diamond trendline at around 1.40 before tanking?

Thanks
Marco

Quoting jupiter_peak
1.37 is an initial target as price is inside a descending channel. The support TL is around that level.
  • #6,986
  • Sep 8, 2011 1:50pm Sep 8, 2011 1:50pm
Quoting marcb
How likely will be that EURUSD will re-test the lower diamond trendline at around 1.40 before tanking?

Thanks
Marco
I would love to know the future too.
  • #6,987
  • Sep 9, 2011 2:47am Sep 9, 2011 2:47am
This week was 3rd touch on the big Weekly Triangle. Also it looks like a possible 18.4 IY and what I like about it is that Yearly MM has already changed twice.
Attached Image (click to enlarge)
Click to Enlarge Name: gbjpy.png Size: 31 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #6,988
  • Sep 9, 2011 6:36am Sep 9, 2011 6:36am
A few 18.4 as of today (yesterday):

GBPUSD
USDJPY
NZDJPY(IW yesterday)

Also, USDx has reached a key resistance level today. It actually made a higher high. Next possible step is an ascending resistance TL that could be the basis for a broadening formation.
  • #6,989
  • Sep 9, 2011 8:03am Sep 9, 2011 8:03am
Quoting soso
This week was 3rd touch on the big Weekly Triangle. Also it looks like a possible 18.4 IY and what I like about it is that Yearly MM has already changed twice.
Do you expect GBPJPY to break to the upside or the downside the triangle?
  • #6,990
  • Sep 9, 2011 10:01am Sep 9, 2011 10:01am
Here is the sickest divergence I have ever since, even beating Igrok's usd/dem divergence in his book on above daily TF. Quadrople divergence on weekly chart on gbp/aud.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 77 KB
Measure twice, cut once
  • #6,991
  • Sep 9, 2011 1:35pm Sep 9, 2011 1:35pm
Looks like EUR/USD is going to test horizontal support at 1.3400. This level also match 50 % of Fibonacci retracement.
  • #6,992
  • Sep 9, 2011 4:48pm Sep 9, 2011 4:48pm
Quoting wolfraider
Looks like EUR/USD is going to test horizontal support at 1.3400. This level also match 50 % of Fibonacci retracement.
http://www.forexfactory.com/showthread.php?p=4601307#post4601307

;-)
  • #6,993
  • Sep 10, 2011 2:07am Sep 10, 2011 2:07am
Quoting aediaz1
Here is the sickest divergence I have ever since, even beating Igrok's usd/dem divergence in his book on above daily TF. Quadrople divergence on weekly chart on gbp/aud.
Thanks for posting it mate. Already have a few ideas about this issue in mind. Will post if anything matures up ;-)
  • #6,994
  • Sep 10, 2011 3:42am Sep 10, 2011 3:42am
EURUSD scenario on the big view, looking at the last 3 months it seems like the pair has some tendency to post extreme somwhere in the middle of month and to close near the open...
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (Weekly) Week 5_2010 - Week 36_2011.jpg Size: 64 KB
  • #6,995
  • Sep 11, 2011 1:09pm Sep 11, 2011 1:09pm
While scanning through some charts, I discovered the oldest diamond I've encountered so far, dating back to 1966 on Dow Jones. It choose final destination around my birth 18 years later.

I can't tell why I'm so fascinated by such market-patterns
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 77 KB
Measure twice, cut once
  • #6,996
  • Sep 11, 2011 3:01pm Sep 11, 2011 3:01pm
Quoting aediaz1
While scanning through some charts, I discovered the oldest diamond I've encountered so far, dating back to 1966 on Dow Jones. It choose final destination around my birth 18 years later.

I can't tell why I'm so fascinated by such market-patterns
Might it be the fact that they are still present buddy?. Priceless peace of art on the charts.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #6,997
  • Sep 12, 2011 6:31am Sep 12, 2011 6:31am
Quoting Mr.C
Might it be the fact that they are still present buddy?. Priceless peace of art on the charts.
Might be one good answer
Measure twice, cut once
  • #6,998
  • Sep 13, 2011 6:19am Sep 13, 2011 6:19am
Trading crosses can be very tricky. The experience I gained from trading crosses directly relate to another theory that majors trade one direction on one day and they keep the same direction until a cross compensates on the following day.

Therefore, it's healthy (for your account) to trade a cross only in the same direction as its corresponding major.

For example: GBPAUD had an 18.4 buy signal today, while its corresponding major (GBPUSD) had its trend down. Therefore, it is somewhat obvious that GBPAUD had an ENORMOUS probability of changing it move to down as well.

However obvious, this approach can seriously affect individual back testing for each and every single CROSS pair. It most certainly will affect forward testing (live) as well.
  • #6,999
  • Sep 13, 2011 6:25am Sep 13, 2011 6:25am
Quoting jupiter_peak
Trading crosses can be very tricky. The experience I gained from trading crosses directly relate to another theory that majors trade one direction on one day and they keep the same direction until a cross compensates on the following day.

Therefore, it's healthy (for your account) to trade a cross only in the same direction as its corresponding major.

For example: GBPAUD had an 18.4 buy signal today, while its corresponding major (GBPUSD) had its trend down. Therefore, it is somewhat obvious that GBPAUD had an ENORMOUS probability of changing...
I understand what you are saying. Igrok have talked about cross-analyses but I have never tested it good enough. But in your example, the aud/usd MMOTD was down meaning AUD was weak (or strong dollar). That would make you take the scenario anyway I guess. I took the same trade today on gbp/aud but based on diamond.
Measure twice, cut once
  • #7,000
  • Sep 13, 2011 6:38am Sep 13, 2011 6:38am
Quoting aediaz1
I understand what you are saying. Igrok have talked about cross-analyses but I have never tested it good enough. But in your example, the aud/usd MMOTD was down meaning AUD was weak (or strong dollar). That would make you take the scenario anyway I guess. I took the same trade today on gbp/aud but based on diamond.
Crosses have different 'weights' on them based on the currency that mostly affects them. There's obviously an imbalance between how much GBP and AUD affect GBPAUD for example.

Getting a hold of this as accurate as possible might be a good edge.
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