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 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.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment