Hello, my dudes,
I love pitchforks. Here is a trade based on Dr. Andrew's rules about pitchforks.
1. The price is at the lower parallel line of the pitchfork. This means that it will move towards the median line about 80 percent of the time.
2. Further increasing our probability is the fact that a demand zone is also situated in that area.
The median line is a dynamic PT.
Pitchforks allow us to put tight stop losses and a decent RRR. So, even if you are wrong you won't lose that much.
My last 2 trades were utter failures. Some trades work out magnificently to the dot while others fail hard. Regardless, let's demystify markets together.
Your feedback is appreciated.
Tc,
Kurilo
I love pitchforks. Here is a trade based on Dr. Andrew's rules about pitchforks.
1. The price is at the lower parallel line of the pitchfork. This means that it will move towards the median line about 80 percent of the time.
2. Further increasing our probability is the fact that a demand zone is also situated in that area.
The median line is a dynamic PT.
Pitchforks allow us to put tight stop losses and a decent RRR. So, even if you are wrong you won't lose that much.
My last 2 trades were utter failures. Some trades work out magnificently to the dot while others fail hard. Regardless, let's demystify markets together.
Your feedback is appreciated.
Tc,
Kurilo
Trade closed: stop reached:
FAIL AGAIN 3 times in a row. My charting skills need more work.