Pitchfork trading is an old technique that most of us newbie traders dont want to learn because most of the people start just want to trade with indicators (like me be4), but guys im telling you learn it and love it. Trade like a professional not like a indicator followers (im not against indicator traders, i respect them because they pro at it). Pitchfork is use 3 different alternating pivots (H-L-H down fork or L-H-L upfork).
Sunday, October 24, 2010
Friday, October 22, 2010
oh boy ! Friday and the aud do like this. what should we do. well telling u the truth i didnt do nothing because im going to watch the market every Friday. but it was a good set up. Backtest the up sloping pink line and it a energu point at the black circle. i could be break even now if i in it. but no i did not trade. hehe my pips
Thursday, October 21, 2010
AUD/USD
Ok, now im looking over all my pairs. I see one caught my eyes. Lets analyze little bit here.AS we see we have a down red fork captured price nicely 2 small red arrow. see we reverse as a dime as i was posting the pic last nice. it where i took a trade. Now in that swing we took out last swing low. im now interest in a short trade. Also there is a orange up fork (zING AND ZANG here) confluence with a down red fork. it was a winner. now we have a pink fork. that price came up and got rejected make me interest. but i want to short at the black circle so my stop reduced smaller. but will see how London boy doing because it just only 30 more munites. i can wait. Happy piping guys
EUR/USD
Ok, here today we have the euro chart. As we clearly see that we are starting a down trend in the long timeframe.We have a nicely up pink fork that capture price nicely. price did reverse at 2 point at median line (2 small arrows) now lets take a look at the down red fork. We can see price be have nicely at 2 circles (the second one is a energy point). So we are we heading am saying the yellow zONE. if i see price behave nicely we can get long and play ping pong in this 2 oppose fork. Im also have a hr chart that i take the trade on. Take a careful look at 1 hr chart. u may learn something because price behave really good at the lines. Need some coffe will talk after i come back from coffee break.
Thursday, April 15, 2010
Tuesday, April 13, 2010
Monday, April 12, 2010
EURO Set up
Tuesday, March 23, 2010
Good Morning, As right now im in a 3 trades which all of them is making money for me, im trying to milk some more money out of it, and currently looking as the NZDUSD pair. but first im gonna explaining the using the trendline techniques i lets u figure this out o or u can search for the book i forgot the name will updates it later. but here lets look at the gbp pair. u can see that i have a up trend line connecting the low and high low then price come back up test it failed then go back down(price usually do like that) when it break something go a distance then comeback and kiss it one more time be4 it countinous going in the direction it break out. so im now using that trend line as a center line (action and reaction) so we have a center line now what we do next now im gonna go find my action line (same slope ) so i find it i measure it same equal distance from center to the reaction line. This is the first techique of using the trendline.
Tuesday, March 9, 2010
EUR/JPY and Euro trade.
Here is 2 trade im currently in. Lets me explain a little bit about the euro trade . As we can see we have a nice little down blue pitchfork the first time it test it (the red letter ) i couldnt take that trade because i was out with my girlfriend shopping at the mall but tonite before the asian section i got in the trade with a small stop 20 pips but the target is good (2 or 3:1).
Ok now Ej it a typical set up that i usually use, it like this the trend line got broken most of the time price usually come back and test it once more time be4 it continuous it the way its going (i called it switchback). So i have to trade to manage right now. i will keep update these trade.
Happy trading .
Hi from Nhat.
Hi guys my name is Nhat. Today i just want to introduce myself and how i trade the forex market. Well i already said my name is Nhat but lets make it in full is NHAT NGUYEN. im a full time trader and full time student majoring in Electrical Engineering. i started my trading carreer since im 19 years old now im 25 hehe (dan im old now ). i been trading Andrew pitchfork for about 3 years and 1/2 now. My goal is 70 pips a day but i think i been pulling more than 70 maybe double well you know it depends on (she) market. Well i have a trading journal i started long time ago in Forexfactory.com (here is the link if u want to read http://www.forexfactory.com/showthread.php?t=188077) i will post some detail and explain why i take the trade so you guy whoever read this can follow me and hope u can learn some from me or she. Hope u guys have a great evening (ah it 2 am in the morning already) Time to go to work. See you all soon.
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