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

  • #9,181
  • Sep 12, 2016 4:45am Sep 12, 2016 4:45am
Quoting Igrok
{quote}in case you wanna trade something against the yen i can recommend you to place a limit to short eur/jpy at 115.30 with stops at 115.50 to target 111.00 initially... this suggestion is valid for the entire week...
Hi Igrok,

How you define TG so low 111.00, 100 pips seems to be ok for intraday, but we need to go lower and break few sup. and there is no much space for price ?

Nice to have you back here !
Attached Image
  • #9,182
  • Sep 12, 2016 4:50am Sep 12, 2016 4:50am
Quoting Igrok
{quote}unfortunately both of them are not diamonds at all...((((
How are you distinguishing the current PA on UJ from the example you cited here? (http://www.forexfactory.com/showthread.php?p=9130847#post9130847)
  • #9,183
  • Sep 12, 2016 4:52am Sep 12, 2016 4:52am
wrong pattern identification is quite common among traders... looking at the charts with different patterns people put here on FF i can see that most of them are either identified or interpreted incorrectly...
  • #9,184
  • Sep 12, 2016 4:54am Sep 12, 2016 4:54am
Quoting Dariusz
{quote} Hi Igrok, How you define TG so low 111.00, 100 pips seems to be ok for intraday, but we need to go lower and break few sup. and there is no much space for price ? Nice to have you back here ! {image}
hi... glad to be back myself...)))
there are some unpaid debts at that level including a major gap to be covered...
  • #9,185
  • Sep 12, 2016 4:57am Sep 12, 2016 4:57am
Quoting simond2002
{quote} How are you distinguishing the current PA on UJ from the example you cited here? (http://www.forexfactory.com/showthread.php?p=9130847#post9130847)
sure... the real diamond is nothing else but two triangles bound together... first is a broadening one and second is a regular one ( most often symmetrical)... nothing in common with what you assume is on your charts shown ...
  • #9,186
  • Sep 12, 2016 5:24am Sep 12, 2016 5:24am
Quoting Igrok
{quote} sure... the real diamond is nothing else but two triangles bound together... first is a broadening one and second is a regular one ( most often symmetrical)... nothing in common with what you assume is on your charts shown ...
I agree with your comment regarding FF and various misinterpretations. Regarding these patterns, however, I'm personally not too concerned with their overall structure because I'm focusing more on SR in terms of whether or not it tells me that traders appear to be trapped in the market.

UJ is currently telling me that both buyers and sellers are trapped in the H1 market, and for that reason I won't be trading it yet. Having said that, your recommendation to sell from 103.20, which is obviously higher than current price, suggests you anticipate some kind of rally. Based on current market structure I don't see evidence of that yet, but you may be seeing something I don't, which is why I've pressed you on it.
  • #9,187
  • Sep 12, 2016 5:35am Sep 12, 2016 5:35am
Quoting simond2002
{quote} your recommendation to sell from 103.20, which is obviously higher than current price, suggests you anticipate some kind of rally. Based on current market structure I don't see evidence of that yet, but you may be seeing something I don't, which is why I've pressed you on it.
not exactly.. i do not anticipate that rally... otherwise i would have been looking for a buying opportunity... my point is simple: IF by any chance the market makes this rally then it should be shorted at the price mentioned with the stops mentioned for the target mentioned... that's it... it's about taking a chance with a predefined strategy... it's just one of my templates...
  • #9,188
  • Sep 12, 2016 5:37am Sep 12, 2016 5:37am
Quoting Igrok
{quote} not exactly.. i do not anticipate that rally... otherwise i would have been looking for a buying opportunity... my point is simple: IF by any chance the market makes this rally then it should be shorted at the price mentioned with the stops mentioned... that's it... it's about taking a chance with a predefined strategy... it's just one of my templates...

  • #9,189
  • Sep 12, 2016 5:47am Sep 12, 2016 5:47am
Quoting Igrok
To revitalize the discussion I'm posting some of my current medium to longer-term views on a few pairs: Medium-term (Likely targets in about 1-3 months period): USD/JPY (currently at 1.3270) - extremely bearish. Makes sense to consider selling it next week with potential target at around 85 ( or even as low as 75 ) to be reached before the end of the year.
UJ did you consider h&s building up situation ?

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  • #9,190
  • Sep 12, 2016 5:48am Sep 12, 2016 5:48am
Quoting simond2002
{quote}
you see, i trade almost naked charts... no indicators, oscillators, no any other study tools... i use just a basic bar chart on which i draw a few lines sometimes... no news reading at all as well... my method is extremely simple and doesn't require anything else except for the graphs... all of my trading strategies are predefined and i trade only when and if the market matches one of my templates...
  • #9,191
  • Sep 12, 2016 5:57am Sep 12, 2016 5:57am
Quoting Dariusz
{quote} UJ did you consider h&s building up situation ? {image}
h&s is like a unicorn... it's a mythological creature... a pattern well known and popular, which however nobody have never been able to correctly identify and trade...)))))
  • #9,192
  • Sep 12, 2016 5:57am Sep 12, 2016 5:57am
Quoting Igrok
{quote} you see, i trade almost naked charts... no indicators, oscillators, no any other study tools... i use just a basic bar chart on which i draw a few lines sometimes... no news reading at all as well... my method is extremely simple and doesn't require anything else except for the graphs... all of my trading strategies are predefined and i trade only when and if the market matches one of my templates...
ditto. took me a few years to reach a similar kind of outlook. better late than never.
  • #9,193
  • Sep 12, 2016 6:13am Sep 12, 2016 6:13am
Quoting Igrok
{quote}h&s is like a unicorn... it's a mythological creature... a pattern well known and popular, which however nobody have never been able to correctly identify and trade...)))))
In this circumstances ..... accidentally we found one ;-)
  • #9,194
  • Sep 12, 2016 6:21am Sep 12, 2016 6:21am
Quoting Dariusz
{quote} In this circumstances ..... accidentally we found one ;-)
nope... in my 23 years trading career i have seen just one picture perfect h&s pattern on the USD/DEM weekly chart... still it was untradable since it was huge and no reasonable stops could be placed for such a trade... some of the classic patterns better be left alone and not traded at all... such as double (triple) tops (bottoms), v-formation and such including that illusive h&s...there are lots of better instruments to use effectively...
  • #9,195
  • Sep 12, 2016 6:37am Sep 12, 2016 6:37am
Quoting Igrok
{quote}nope... in my 23 years trading career i have seen just one picture perfect h&s pattern on the USD/DEM weekly chart... still it was untradable since it was huge and no reasonable stops could be placed for such a trade... some of the classic patterns better be left alone and not traded at all... such as double (triple) tops (bottoms), v-formation and such including that illusive h&s...there are lots of better instruments to use effectively...
Amen, finally someone with guts to say it.
"Bulls make money, bears make money, pigs get slaughtered"
  • #9,196
  • Sep 12, 2016 6:59am Sep 12, 2016 6:59am
Quoting manosk
{quote} Amen, finally someone with guts to say it.
It was said long time ago in his book btw. No mind changed, that is good
  • #9,197
  • Sep 12, 2016 7:15am Sep 12, 2016 7:15am
Quoting Dariusz
{quote} It was said long time ago in his book btw. No mind changed, that is good
Apologies, I didnt know. I have only recently come across Igrok, but I like what I read
"Bulls make money, bears make money, pigs get slaughtered"
  • #9,198
  • Sep 12, 2016 9:16am Sep 12, 2016 9:16am
Quoting Igrok
{quote}hi... glad to be back myself...))) there are some unpaid debts at that level including a major gap to be covered...
What do you mean when you refer to "unpaid debt"?

Are there any other clues you systematically looks for besides gaps, unpaid debt and MACD div?
  • #9,199
  • Sep 12, 2016 10:20am Sep 12, 2016 10:20am
Quoting mymission
{quote} What do you mean when you refer to "unpaid debt"? Are there any other clues you systematically looks for besides gaps, unpaid debt and MACD div?
sequences, ranges, market speed, patterns... combinations of those clues may even predict some upcoming events ... lets say for example just based on the patterns it could be easily predicted in advance that famous disastrous SNB related swissy spike as well as the outcome of the brexit referendum...
  • #9,200
  • Sep 12, 2016 10:25am Sep 12, 2016 10:25am
Quoting Igrok
{quote}sequences, ranges, market speed, patterns... combinations of those clues may even predict some upcoming events ... lets say for example just based on the patterns it could be easily predicted in advance that famous disastrous SNB related swissy spike as well as the outcome of the brexit referendum...
Reading your book now
"Bulls make money, bears make money, pigs get slaughtered"
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