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

  • #9,301
  • Sep 16, 2016 4:32am Sep 16, 2016 4:32am
this formation on the eur/gbp started to look like a continuation....
  • #9,302
  • Sep 16, 2016 12:15pm Sep 16, 2016 12:15pm
Quoting A-Mode
GBPUSD looks very interesting {image}

You mean eurgbp? nice inside touches before take-off.
  • #9,303
  • Sep 16, 2016 12:23pm Sep 16, 2016 12:23pm
Quoting mymission
{quote} You mean eurgbp? nice inside touches before take-off.
great market today... not exactly what i had expected in the middle of the day but the new low of the month on cable and the diamond on eur/gbp worked out quite well giving the intraday volatility....
  • #9,304
  • Sep 16, 2016 12:30pm Sep 16, 2016 12:30pm
also for the second time in history we might see some picture-perfect inverted H&S patterns... on gbp/aud and gbp/cad...
  • #9,305
  • Sep 16, 2016 12:51pm Sep 16, 2016 12:51pm
[quote=Igrok;9144662]{quote} great market today... not exactly what i had expected in the middle of the day but the new low of the month on cable and the diamond on eur/gbp worked out quite well giving the intraday volatility....[/quote

I agree, what target do you have on eurgbp, about 0.87?
  • #9,306
  • Sep 16, 2016 1:29pm Sep 16, 2016 1:29pm
Quoting Igrok
also for the second time in history we might see some picture-perfect inverted H&S patterns... on gbp/aud and gbp/cad...
Miracle - unicorn exsist
  • #9,307
  • Sep 16, 2016 1:48pm Sep 16, 2016 1:48pm
Quoting Dariusz
{quote} Miracle - unicorn exsist
not proven yet... lets wait and see,,,)))) though to prove it completely we'll have to catch it...)))

though if to follow standard recommendations to enter only after a neckline break it is still untradabe... the only chance to benefit from it is to be proactive by making an attempt to catch it at or near the bottom of the right shoulder...
  • #9,308
  • Sep 16, 2016 1:53pm Sep 16, 2016 1:53pm
Hi Igrok,
what is your take on cable now/ Isi it still worth to buy now with a target of 1.41?
Thanks!
  • #9,309
  • Edited 2:14pm Sep 16, 2016 1:59pm | Edited 2:14pm
Quoting marcb
Hi Igrok, what is your take on cable now/ Isi it still worth to buy now with a target of 1.41? Thanks!
for now 1.2930 is a must... perhaps may come even a bit lower than that... gbp/jpy can be used as a reference because for this pair 131.00 is a must... from there we can start cautiously buying them both to target 1.98 and 230.00 accordingly...

believe it or not but it also seems that it really might make sense to try to catch those two possible h&s patterns on gbp/aud and gbp/cad... gbp/aud at around 1.7100 (to target 2.30) with stops at 1.7040 and gbp/cad at around 1.6780 (to target 2.20) with stops at 1.6690 ...
  • #9,310
  • Sep 16, 2016 2:17pm Sep 16, 2016 2:17pm
Quoting Igrok
{quote} not proven yet... lets wait and see,,,)))) though to prove it completely we'll have to catch it...))) though if to follow standard recommendations to enter only after a neckline break it is still untradabe... the only chance to benefit from it is to be proactive by making an attempt to catch it at or near the bottom of the right shoulder...

Can you please illustrate, is it around 1.7043 with stop below 1.6718?
  • #9,311
  • Sep 16, 2016 2:21pm Sep 16, 2016 2:21pm
Quoting mymission
{quote} Can you please illustrate, is it around 1.7043 with stop below 1.6718?
no... gbp/aud to buy at around 1.7100 with stops at 1.7040... the right shoulder of a real h&s pattern is always a bit shorter than the left one... so, the stops could be placed just below the bottom of the left shoulder....
  • #9,312
  • Sep 16, 2016 2:21pm Sep 16, 2016 2:21pm
Quoting mymission
{quote} Can you please illustrate, is it around 1.7043 with stop below 1.6718?
I can see you answer 😀 and my stop was of course well away.. can you elaborate about the stops which is most important, why there?
  • #9,313
  • Sep 16, 2016 2:23pm Sep 16, 2016 2:23pm
Quoting mymission
{quote} I can see you answer 😀 and my stop was of course well away.. can you elaborate about the stops which is most important, why there?
because...
Quoting Igrok
{quote} the right shoulder of a real h&s pattern is always a bit shorter than the left one...
  • #9,314
  • Sep 16, 2016 2:24pm Sep 16, 2016 2:24pm
Hi Igrok,
sorry but what do you mean with

"from there we can start cautiously buying them both to target 1.98 and 230.00 accordingly" ?

Your target would be 1.98 for cable and 230 for GBPJPY? Am I understand you right?

They seem so high...in one year?

Thank you!

Quoting Igrok
{quote} for now 1.2930 is a must... perhaps may come even a bit lower than that... gbp/jpy can be used as a reference because for this pair 131.00 is a must... from there we can start cautiously buying them both to target 1.98 and 230.00 accordingly... believe it or not but it also seems that it really might make sense to try to catch those two possible h&s patterns on gbp/aud and gbp/cad... gbp/aud at around 1.7100 (to target 2.30) with stops at 1.7040 and gbp/cad at around 1.6780 (to target 2.20) with stops at 1.6690 ...
  • #9,315
  • Sep 16, 2016 2:26pm Sep 16, 2016 2:26pm
Quoting Igrok
{quote} no... gbp/aud to buy at around 1.7100 with stops at 1.7040... the right shoulder of a real h&s pattern is always a bit shorter than the left one... so, the stops could be placed just below the bottom of the left shoulder....
Thanks, appreciate you filling in, really want to learnt this...

Is there some angle when its a "little shorter" or how to put the entry?
  • #9,316
  • Sep 16, 2016 2:28pm Sep 16, 2016 2:28pm
Quoting marcb
Hi Igrok, sorry but what do you mean with "from there we can start cautiously buying them both to target 1.98 and 230.00 accordingly" ? Your target would be 1.98 for cable and 230 for GBPJPY? Am I understand you right? They seem so high...in one year? Thank you! {quote}
might come there in one month... or two... why not?... such things had happened before... i traded them... swissy made a similar move in just 5 min...
  • #9,317
  • Sep 16, 2016 2:31pm Sep 16, 2016 2:31pm
Quoting mymission
{quote} Thanks, appreciate you filling in, really want to learnt this... Is there some angle when its a "little shorter" or how to put the entry?
wherever at or below 1.7120...
  • #9,318
  • Sep 16, 2016 2:39pm Sep 16, 2016 2:39pm
don't be surprised with my long targets... it might happen quite fast... in October 2008 monthly trading range on gbp/aud was 4870 pips...
  • #9,319
  • Sep 16, 2016 2:55pm Sep 16, 2016 2:55pm
Quoting Igrok
{quote} wherever at or below 1.7120...
Ok, thanks!

If I draw the angle line in 1H chart it arrives at about 1.7120, do you normally use 1H when drawing this kind of lines or or just a coincidence?

sorry for all question, but I need the logic behind to grasp "where and when"
  • #9,320
  • Sep 16, 2016 2:58pm Sep 16, 2016 2:58pm
Quoting mymission
{quote} Ok, thanks! If I draw the angle line in 1H chart it arrives at about 1.7120, do you normally use 1H when drawing this kind of lines or or just a coincidence? sorry for all question, but I need the logic behind to grasp "where and when"
i can't give you the exact price...it's entirely up to you... from my perspective it can be anywhere between 1.7120 and 1.7040 depending on a particular trader's risk acceptance...
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