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.
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