couple of charts, page-19

  1. 2,829 Posts.
    Paul

    There is no substitute for drawing a few to get the idea, and you are right, it is easy to end up with too many. Its a skill learning to eliminate what is unnecessary, and to integrate forks with other indicators.

    I will be busy this weekend with family commitments, so I cannot see me doing any chart work, but I am working on a pitchfork specific presentation (probably 100 slides or so) and I will send you drafts in the mail, if you dont mind being the guinea pig.

    There are 3 phases.
    Learn to draw the forks
    Learn to read them
    learn to trade them

    Treat it like paper trades. When you find one you feel you have done well, use it to refine your entry position, and identify your exit condition. Use your first target as the ML and your second target as the resistance tyne on longs, reverse on shorts, and see how you go.

    One tip, if you see the test/retest pattern, like in Radge's doomsday SP500 in my index charts, the odds stack in your favor very fast. Just make sure to look for the P1 (swing_point_1) and P2 before you look for where the origin is, and then only go for an orientation opposite to swing_Point_1 while you starting with this stuff.

    catch you later in the weekend maybe.

    T91
 
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