Hi Kidrock, it's just my opinion and how I use it, you may find applications that better suit you. Like everything it's not perfect, but I feel it helps my trading.
Here is an interesting observation on the Euro 15m, price reacts to all strings it encounters bar one.
Will use the line price respected as the moving stop for this trade.
Last edited by jtrader; 11-30-2011 at 03:32 AM.
hi jos, you know you ve posted so many examples, i just cant ignore this application , and it has fib levels so it's useful, i'm still trying to spot the best median line and the reaction point, but in the meanwhile i'm also practicing fibo clusters from the video the ziemo posted some days ago , i'm pretty busy ahahah, lucky me that i work from home
No worries mate :-) Video post on the ES just for fun.
Last edited by jtrader; 11-30-2011 at 11:52 AM.
ahahah thanks jos , nice one , today i've earned some good pips on the eurusd
Here is a nice Euro hit if your willing to ride the news.
i took that one man , i'v entered at 13530 at first, than the news of nfp formed a nasty spike and hit my b.e, the i' ve entered again at the first 38.2 retracement at 13498 and followed all the way down , closed at 13390 :P
P.s i've also used the fibo channel and it was like your pic
Nice one kidrock, well played, I had the same entry but decided to exit before the news. I had to sleep It would of been a great way to end the week
Last edited by jtrader; 12-04-2011 at 08:49 AM.
A Note about Pitchforks. With the exception of the Cycle Tool if your platform has one,
The Pitchfork in my opinion is the only useful indicator on a standard trading platform,
once you know how to use it and there are many uses.
Last edited by vintageus; 12-05-2011 at 12:03 AM.
Notice the Head and Shoulders Top where the Red Box is on the chart above.
That is considered a True Head and Shoulders Top
because the right shoulder swing low is above the left shoulder swing low.
If the right shoulder swing low was below the left shoulder swing low
it would be a false HST and eventually climb higher.
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