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

  • #7,321
  • Feb 22, 2012 4:09am Feb 22, 2012 4:09am
EURGBP, every single day this week, near european open price retraces back to Open at about the same time each day (8/9 GMT) then pushes strong up.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,322
  • Feb 22, 2012 6:05am Feb 22, 2012 6:05am
On the list.
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  • #7,323
  • Feb 22, 2012 6:33am Feb 22, 2012 6:33am
Quoting soso
EURGBP, every single day this week, near european open price retraces back to Open at about the same time each day (8/9 GMT) then pushes strong up.
I took GBP trade today based on intraday timing, it acted similar to yesterday - fake leg (similar length as yesterday) before london open, then big sell out at session open...
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  • #7,324
  • Feb 22, 2012 6:34am Feb 22, 2012 6:34am
Quoting soso
EURGBP, every single day this week, near european open price retraces back to Open at about the same time each day (8/9 GMT) then pushes strong up.
Hi Soso,

Nice observation, it amazing how the market move sometimes, with precision of the Swiss clock.

My plan for eurgbp is go long if I see this ID pattern after pullack to 0.8400 level. This level is a Monster . There is as well little upward trendline, against which the price could lean.

Good luck,
Chris
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Trade what you see, not what you expect. BE LIKE WATER MY FRIEND.
  • #7,325
  • Feb 22, 2012 11:26am Feb 22, 2012 11:26am
today's miserable EURUSD 55 pip range was by far the smallest in 2012 ...
  • #7,326
  • Feb 22, 2012 10:27pm Feb 22, 2012 10:27pm
Quoting PutaMadre
today's miserable EURUSD 55 pip range was by far the smallest in 2012 ...
And I was in LONG too on that one.

It seems to me we could see EURUSD changing the MM of the week as soon as tomorrow. Such small range urges to follow the other majors (with swissey as exception) which are all loosing against the USD this week.

There are some short term divergences to be filled as well as a gap from the beginning of the week.

I also see a potential diamond in the works for EURUSD.

By the way, I jumped into GBPCHF SHORT trade on Monday and it easily filled AWR @ the blink of an eye. Another awesome trade this week.

Great results also in February so far. Lets see if I can keep up for the remainder of the year.
  • #7,327
  • Feb 23, 2012 2:55am Feb 23, 2012 2:55am
Price looks like it breaking out of the last couple of days congestion. First real buying occured during the assian session followed by even more buying before european opening.

I'm considering buying an #18.4 pullback near the open, profit margin being pretty high if it works out. But I won't like market extending further before doing the pulback. So let's wait & see...
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  • #7,328
  • Feb 23, 2012 3:05am Feb 23, 2012 3:05am
Oh well minutes after I posted the current daily range expanded further cancelling the whole idea... waiting for next.
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  • #7,329
  • Feb 23, 2012 7:40am Feb 23, 2012 7:40am
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  • #7,330
  • Feb 24, 2012 3:40am Feb 24, 2012 3:40am
Quoting soso
Order activated to the pip, right above the Open. Half will close at 80% the rest will keep it to the end of the week or upper side of the Weekly Channel - as it was the base for this trade.

#18.4s taken ONLY in the bigger market context are the best thing since sliced bread
We just had a touch on 1hr. Hope you held your trade as planned. If so, then well done!
  • #7,331
  • Feb 24, 2012 4:04am Feb 24, 2012 4:04am
Quoting belekas
We just had a touch on 1hr. Hope you held your trade as planned. If so, then well done!
Thanks, although I exited eariler during yesterday, was afraid i'd give back too much open profit if price didn't reach the actual target. But no regrets though, milked it good enough to make a good monthly return from silver only.
Exits are always an area to improve imo, I gave back so much open profit back in my earlier days...

Now am curious if the channel will hold. If the day closes below then I'll consider shorting next week.

Have a nice & relaxing weekend!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,332
  • Feb 24, 2012 4:21am Feb 24, 2012 4:21am
Quoting soso
Thanks, although I exited eariler during yesterday, was afraid i'd give back too much open profit if price didn't reach the actual target. But no regrets though, milked it good enough to make a good monthly return from silver only.
Exits are always an area to improve imo, I gave back so much open profit back in my earlier days...

Now am curious if the channel will hold. If the day closes below then I'll consider shorting next week.

Have a nice & relaxing weekend!
It's all good. I agree. Been there, done that. It all boils down to traders skill level of reading the "trading alphabet" aka the chart. Others would debate about psychology and etc., but I strongly believe that the gaps of premature exits or entries come from not knowing whats happening on the tape. Nonetheless, I am happy that you made good progress after finding the place where we hang out... ;-)

Wish you and everybody else a great weekend!
  • #7,333
  • Feb 24, 2012 7:33am Feb 24, 2012 7:33am
There was(is) a nice EURUSD ID 18.4. Just before London Open price changed MMOTD to UP, in accordance with the longer term bias, took a long when price came back to Open and closed it all after NY Open <-- looks like sellers came in after US Open + it's friday better bank it.

Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,334
  • Feb 24, 2012 7:40am Feb 24, 2012 7:40am
Hello,
I have been studying the irok method for a few weeks now and these forums are a great learning tool for which i would like to thank everybody.I was hoping somebody could awnser a question for me, when you are going off the range templates do you begin your study at 5:00 p.m. eastern time when the asian session opens or do you base them off of midnight eastern time? Also does anybody know how i can get a link for the 60 day average daily range for metatrader 4? The max i have found is a 30 day.Thank you very much for any help you can provide.
  • #7,335
  • Feb 24, 2012 9:46am Feb 24, 2012 9:46am
Really really nice ID 18.4 formation on Silver, in accordance with the bearish bias of the Weekly Channel. I skipped it though due to being too late in the day & week.

Allright that's it for me, see you all next week.

P.S. tomr7x, search a bit on FF there are at least 2 versions available as I remember I bumped into them. Don't remember where though...
Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,336
  • Feb 27, 2012 4:55am Feb 27, 2012 4:55am
EURGBP ID 18.4, missed by 1 freakin' pip!

Would've been a good start for the week. Anyhow, on to the next one. Good luck everyone.
Attached Image (click to enlarge)
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #7,337
  • Feb 28, 2012 4:22am Feb 28, 2012 4:22am
Med. term key trend lines i'm keeping an eye on...
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  • #7,338
  • Feb 28, 2012 11:05am Feb 28, 2012 11:05am
Quoting PutaMadre
Med. term key trend lines i'm keeping an eye on...
And that's how the market played the setup - broke TL from both sides and made 100 pip range @ 5800 - 5900
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  • #7,339
  • Feb 28, 2012 3:56pm Feb 28, 2012 3:56pm
Quoting PutaMadre
And that's how the market played the setup - broke TL from both sides and made 100 pip range @ 5800 - 5900
Disater today. Stops hunting it seems.
  • #7,340
  • Feb 28, 2012 10:25pm Feb 28, 2012 10:25pm
Quoting jupiter_peak
Disater today. Stops hunting it seems.
Caution is always needed while trading.
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