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).
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
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