I see tentative trendlines forming a slightly asc. channel in H1. Once again, consolidation. Today has been a very slow day. Whenever price falls into whipsaw, these "hold" areas are formed. Price still inside a very bearish channel. Channels as ...

AUD/USD

Technical level @ 0.9338 still holding tuff. Watch out for this level as it is a resistance level. Soon enough we should see a confluence between Res. and a down trendline. Price to "bounce" downwards from this confluence. Cheers to all. JP.

AUD/USD

OIL — As expected OIL did go down a bit more. Next stop would be @116.30 or 38.2 retracement. As mentioned before, price failed to touch the UTL of the asc. channel observed in H4. This is ALWAYS a strong indication of pattern break. Also, ...

AUD/USD

Are u asking a question or making a statement???

AUD/USD

By no means I am not saying I am not happy. U know we all can be right or wrong. I just make my decisions based on technical levels. Personally, I would not have entered a long at the current level. Above 0.9338 would be a technical level on ...

AUD/USD

I see you failed to add a trade acceleration trendline, which pretty much is a more vertical trendline you are missing on your drawing and which makes up for that asc. channel. Whenever a commodity/pair have an acceleration trendline, the greater ...

AUD/USD

As a general rule, yes. I have read it on JJ Murphy's books and on Marber's books as well. They both use it for stocks or futures which leads me to answer your question as yes. For lower TFs, we have to develop some kind of "adaptation" which I am ...

AUD/USD

It's not or ever always that price returns to its original break line. It does happen, but not always. Attached, see the example on OIL. Price broke the trendline with authority and never came back. Price reached the minimum target (50% retrace) and ...

AUD/USD

Oil — I have technical reasons to believe oil is headed down. I see price under consolidation, channeling slightly upwards. Consolidations (patterns) after trend moves, either up/down, generally are an indication that the trend will resume the ...

AUD/USD

Reversal minimum target — Hey fellow traders, From what I can observe, this reversal/correction is a bit far from over. Minimum target I see is 0.8513. Cheers, JP.

AUD/USD

1% rule, 3% rule and time filters — Hey Aediaz, I knew I had read that somewhere before. I read that on John J Murphy's book "Technical Analysis of The Financial Markets". Only that he states that for longer term trendlines (ie above daily) he ...

Drawing correct resistance and support-lines

Hey Sonic, Nice to see ya around. Like I had posted above and earlier this week, AUDUSD presented an eminent divergence spotted using MACD on the weekly chart. As you can see at the attached chart, it's my personal belief, after doing some thorough ...

Drawing correct resistance and support-lines

True reason for target on divergence — Indeed, I made a huge mistake in target observation. I believed it had to do with possible Fib levels. I was very wrong. After further research and being in touch with Igrok, I understand now why/how he ...

Drawing correct resistance and support-lines

Igrok, Thanks again for your time. It seems to me that everytime you give me an answer, my mind opens up to search for new things. Regarding the above answers: 1. Being above "water line", in divergences where price is making HH and crossovers are ...

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

OK. So from what I understood, I think I am able to "draw" a parallel between charts in order to reach an educated conclusion: Chart 1: Cable MONTHLY divergence containing a valley having minimum target @ valley bottom; Chart 2: EURUSD DAILY ...

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

I see the divergence. Guess no problem on that. My main question would be, why the target @ LL of 2005? Any reason? I see an Asc. Channel on daily. Maybe the amplitude of that channel? But how could we know time for breakout so a measured target ...

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

Mr. Toshchakov, Thanks again. Could you elaborate a little more on divergence? Maybe show us an example with a chart that would illustrate it considering the targets you mentioned previously. I have a hard time reading them as well as potential ...

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

EU ;-) — I see what you mean. Amost identical price action indeed!! So, at least for next month, price will be wandering inside the same range we have observed for the last few months? No chance of price breaking below LL level? I took ...

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

Horizaontal S/Rs — Hello Mr Toshchakov, I have support 1 (on daily chart) @ ~1.5582 and a second support @ ~1.5381. Aren't those "critical" levels for those of us trading intra-day? If not, what would be your recommendation as to better "spot" ...

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

Another Divergence — Hey Guys, Spotted another divergence. This time on USDCAD monthly. I guess divergences are easier to be spotted under longer TFs. Each day I find my self transfering the knowledge observed in textbooks to our daily applied ...

Drawing correct resistance and support-lines