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Old 08-07-2013, 02:41 AM
TrendCatcher123 TrendCatcher123 is offline
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Default TrendCatcher's Success From Failed Pitchfoks (TCSFFP)

Dear Inditraders

In this thread, I am going to introduce my trademark method of trading - TrendCatcher's Success From Failed Pitchforks (TCSFFP)

It needs only a pitchfork as a technical tool - thats it and works equally well for both LONG & SHORT setups i.e. no limitation only on SHORT side If you are hearing about it for the first time, i am sure you won't find it difficult to believe on the simplicity and objectivity of such a possible way to trade!! For both basics and advanced content on pitchforks, you can also refer this thread Anyone use Alan andrews method by apollo12 where shiree sir has also contributed with his vast experience!

Methodology
  1. choose any underlying (stocks, commodities, fx pairs) which has good liquidity.
  2. choose a TF of 15-min or above.
  3. instead of an ideal pitchfork (45 degree one which is difficult to get of course), try to identify & draw a steep sloped pitchfork. though this method works on any angled pitchfork, success rate is more in steep sloped ones.
  4. draw a TL connecting points A & C which will act as a resistance (for downward sloped pitchfork) or support (for upward sloped pitchfork) for an invalidated or broken pitchfork in the making.
  5. draw another pitchfork (red) such that its upwards sloping if the price broke resistance and downward sloping if price broke support. this is stop loss pitchfork.
  6. ENTRY = above the high of breakout candle which breaks AC trendline
  7. TARGET = point C
  8. STOPLOSS = for non-risky traders - use red pitchfork (break of lower line if price broke resistance & break of upper line if price broke support)
    for risky traders - point X
The success of this method depends on how effectively and efficiently one identifies and draws a pitchfork

Here is an illustration of my trademark TCSFFP which I have mastered. First ever chart in the public domain on this method!!

TCSFFP Illustration


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Open Note to All:
You can claim INR 1101/- from me within 3 days, if you can just find out, anywhere else in the world wide web/trading books, you have seen this method ever! U can contact the mods for this!

(If the tone and the language of this post reminds u of some arrogant & boastful mentor who only brags without any shame and rechristens already successful trading methods after his name, then please excuse me coz i am different )

Last edited by TrendCatcher123; 08-07-2013 at 08:51 AM.
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Old 08-07-2013, 03:34 AM
TrendCatcher123 TrendCatcher123 is offline
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Default

dear inditraders - forgot to tell U!

initially i am keeping this thread in journal (as view only) coz for next few days i have some time constraints & won't be trading actively. you see it doesn't look good that i don't respond to queries raised! once i become regular i would make it open for all to interact and contribute! i plan to use it as journal only to showcase the efficacy of this method with RT trades.

IN THE MEANTIME, I WILL DEFINITELY TRY TO POST RT CHARTS!
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Old 14-07-2013, 03:31 AM
TrendCatcher123 TrendCatcher123 is offline
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TCSFFP - 01

for 15th july 2013, M&M could give a quick trade on a 30-min TF
  • BUY abv 915.3 for a TGT of 924.7
  • STOPLOSS = use break of lower line in red pitchfork

Uploaded with ImageShack.us

Last edited by TrendCatcher123; 14-07-2013 at 03:46 AM.
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Old 15-07-2013, 12:41 PM
TrendCatcher123 TrendCatcher123 is offline
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Default

TCSFFP - 02

from 15th july 2013 onwards, AXIS BANK could give a nice trade on a 30-min TF
  • BUY abv 1306 for a TGT of 1355
  • STOPLOSS = 1246 or use break of lower line in red pitchfork, whichever is less!



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Old 15-07-2013, 03:34 PM
TrendCatcher123 TrendCatcher123 is offline
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TARGET ACHIEVED


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Originally Posted by TrendCatcher123 View Post
TCSFFP - 01

for 15th july 2013, M&M could give a quick trade on a 30-min TF
  • BUY abv 915.3 for a TGT of 924.7
  • STOPLOSS = use break of lower line in red pitchfork

Uploaded with ImageShack.us

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