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).
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 .
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