Hi my youtube friend Barry burns here with top dog trading today talking
about one of the best trading indicators strategy it's on any platform any
software that really I like this I love this it's actually a drawing tool and
it's an old one definitely nothing new but sometimes the old stuff is good and
I'll tell you what I don't find a lot of people still using this and so sometimes
people are always looking for an edge with new stuff and that's cool but you
know what sometimes you can find an edge by bringing back something old that
people aren't using anymore and that's definitely the case here I use this all
the time and I absolutely love it so it's the good old fashioned Andrews
pitchfork and I'm gonna show you a couple of ways of tactically how to use
this so first of all you want to see that you have a change of direction let
me take that up there for a second actually so we have had a move up
alright and now we're looking for a move down and I find that this is especially
good for exit so we'll focus on exits today rather than entries and that's one
of the big problems that I see people having is they write me and they say
Barry I don't know where to get out of the market where do I exit and I will
tell you that I agree entries I have no problem with entries I am the master of
when to get into the market I've really got that down but exits are much more
challenging than entries in fact even as I've talked to other traders and traders
at the exchanges and so forth who have been trading for decades interviewed
them and they have told me rather consistently saying yep even though I've
made all this money in trading I'll tell you the one thing I felt I never
mastered was when to get out of the market and I don't honestly think that
anyone knows the perfect time to get out but what we're looking for is a good
time to get out when we can have a high probability exit where we've made
money and say okay so this is a good time to get out not that we're going to
ever catch the entire move of every single impulse or every single trend
that would be unrealistic so certainly not expecting that but what we do want
is a good risk reward ratio and we want a reasonable logical and high
probability time to exit so first of all let me show you how to draw this you'll
see that I just did it right there it's a three-point drawing tool so we're
going to take a hi remember looking for a reversal here so it go too high to a
low to another high so that's the basic thing is that against the point drawing
tool so you start there and then to there and then a lower high so we're
looking for that shift in a trend okay now you'll see that it draws times these
are called tines TI any ass because well that's just the term for the little
things that come off of a fork hand since this is called Andrews pitchfork
that's what they call this so we've got our middle tine here this is just the
central line if you want to consider it that then we've got this mean a section
here I'm actually gonna do it both way is just so it can kind of see that and
you'll see that I have these two colored very differently so the middle one and
make black and then the two outside of that I make thicker and darker blue and
then the ones out of that outside of that a little lighter blue and then went
outside of that a lot later blue and that's just for visual identification
okay you know what I should do too is actually show you my settings here
because I know I'll get questions on that which don't blame you I would
expect that okay so here's my settings for it and now your settings may be a
little different different trading platforms they seem to use a little
different things for the parameters and so forth but anyway here you can see the
handle alright so the handle is that part where the fork you would
pick up the fork mm-hmm so to say all right and then we've got tying one time
too and so there you'll see those are the darker blue lines that I've got and
I made them with the four that's just for customization but the percentage is
the color is the the with all that that's just however you want to and do
it based on your personal preference but what is important here are the
percentages so time when is 100% nine to zero percent now I have found that
different trading platforms will prescribe different percentages there
but this is for ninja trader seven so these are going to be equidistant from
the handle from the middle line and then from there I use 50% differences all
right so we've got our one hundred percent and then we've got our one fifty
we had zero percent then we got minus fifteen and then after 150 got two
hundred and after a negative fifty got negative one hundred so those are the
settings that I use here okay now you know how to set it up let's talk about
the tactics on how to trade this for exits so the primary thing that I'm
watching I'll move this forward is I'm actually saying already so the tines
that are the most important in order to stay within a mmm
let's say a strong and downtrend is these two here all right
so that'll be your 0 and 100 now what we're going to look at here is
basically we're looking at an energy of this first move from down to up and then
back down and we're saying all right so this first lower high and the low
between it established a pattern almost a geometric pattern if you will and as
long as price action stays between these two
or these two lines we are continuing that same type of energy so one of the
things that we will look at is for example when it gets down to here okay
it's still within that zone when it gets out of here
oh now we're breaking outside of that same energy in other words the market is
not going down with as much enthusiasm as it started with so it's starting that
that downward energy that trend down is starting to dissipate if you will now it
doesn't mean it's gonna go up right away sometimes it does but this is a little
more typical of what happens so it comes back down hits that time comes back up
comes back down hits that time it was back up kind of rides this one down
alrighty and let's see what happens from here now when it breaks out of the final
one the final line or tying or whatever you want to call it then I consider okay
this downtrend completely done this pitchfork over not gonna look at that
pitchfork anymore I could just take it off of the chart if I wanted to that
would be one place to exit another place to exit is a little more aggressive you
get a little more reward on it is when you wait for it to break out outside of
this major tine here and then look for it to come back look for it to come back
and see how low can go so it may not come all the way down back down to here
you could look for things like a double bottom things like that but just look
forward to come back down here and then take a profit down here so
those are two options for you there's never one thing that's always the best
unfortunately but this is your primary signal is right there the signal that
the energy has changed just to no longer is dramatic to the downside all right
now having done that let's just move our chart forward a little bit and let me
show you how we can then measure the thing to the upside so now that we've
broken out we're ok let's say we went long so it's got the wrong thing here I
wanted to actually move up here so now we bring up our Andrews pitchfork again
and now we've got that low in that high and this low here alright so now that
we've got that we've got the same kind of thing going on again and I'll
actually now that you see why we drew that so we drew it why because we look
for it after we put in another high and then another low after we've broken out
of that time there right the two major ones ok so now let's see so that's not
so cluttered let's actually go back and take this one off just create more
clarity for you ok so now what we here's another way to exit and again there's
different techniques because the market doesn't always do the same thing every
time so it comes in here holds that one gets a little below it comes back up to
the mid one holds this one by the way notice that it also kind of provides
diagonal support resistance if you will all right now here is at the point of
the second type of exit once it gets above the upper major tine I call these
my two primary times by two major times so this is then a very aggressive move
to the upside for it to break above see last time we were looking forward to
break below the time to get out right now we're saying okay it's going in the
direction of the trend and it broke out above the major wind at the top so I
consider that to be up in an exhaustion move it's almost like when you see a
reversal candlestick pattern that coincides with a high-volume
volume bar and you say oh that's an exhaustion pattern well this would be
the same type of concept where statistically it's getting above
the the norm and so when I see this I say oh okay you know what that might be
a good place to get out we'll go and break both the high of that I don't know
it's possible but statistically or even with the market action and energy that
is a very very very bullish move and therefore I consider it an exhaustion
move and whatever the market does in the future that's probably going to at least
regress or retrace down quite a while and I don't want to sit through that why
not just I mean we made some good money here let's say you got in whether you
got in there let's see you get in here or even if you got in here you know you
made some good money honey you got some you got a great piano there so you know
because this is one way you could do it far as entries go you could say okay
let's set up our Andrews pitchfork and then wait for it to hold the lower level
and buy there that would be one thing to do okay so my risk very small it's
basically that little rectangle there and my reward is that pretty awesome
pretty awesome so that is just give you a little preview of how you can also
enter on it let's just see what it did do okay look at that it actually did
make a higher high after that but look what it also did in the meantime which
is very cool so this is where I would get out on an exhaustion move it comes
back down goes to the this time goes to that time goes to that one goes to that
one goes to see how it's providing diagonal support resistance almost makes
it to that one comes down here right so that went up comes down here crazy
almost you know uncanny did it make a little higher high after where I got out
yep so what so what I don't want to hang in there through you know this retrace
and if it goes up higher great again we're not gonna catch every single penny
and every single move just impossible that is a good high probability exit and
that's what I'm looking for high probability exits not
to be right looking to make some money and then well what happens then when it
finally does break down below this final time then huh look at that sure enough
the trend reverses and it goes down so that is one of my favorite trading
indicator strategies drawing tools whatever you want to call it test it out
for yourself see how you like it now if you like this video if you found it
interesting please understand that it's not free wait a minute it's not free I
just watched it yeah it is free okay but from a spiritual point of view if you
got value from it then you have an obligation to pay it forward sure with
other people that's what we're supposed to do as good people right and that's
really the very best thing you can do is to click the share button below and if
you're watching this on YouTube feel free to subscribe and click the thumbs
up icon and one of the best things you can do also is leave a comment I love
your comments even if you disagree with me or maybe if something to add to the
conversation to help other treaters who are watching us that's all great we
invite it all I have a very special offer to you I'm giving away one of my
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get my rubberband trade strategy absolutely free by simply clicking on
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or below this video if you're not watching it on YouTube there's probably
a link below or above or an opt-in form on the side anyway why don't you do one
of those things I'll personally email the video to you with the rubberband
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5 Rules to Always Follow for Healthy Hair - Healthy Hair Tips - Iko Health - Duration: 2:41.
if your hair is dull frayed or damaged from the use of dyes and chemicals you
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one change your washing routine do you wash your hair every single day this can
really dry it out since you're washing away the oils your scalp produces to
keep your hair shiny and healthy washing every day can also lead to oily hair
since stripping your hair thats oils causes your oil glands to go into
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just three or four times a week giving your hair a break in between washings
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rinse out your conditioner with cold water hot water is hard on your hair and
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seals the cuticle resulting in shiny bouncy hair to handle your hair gently
think of your hair like your best silk dress after hand washing it would you
ball it up and wring it out no that would destroy its shape and
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stay healthy after washing your hair gently Pat it dry with a towel instead
of wringing it out let it finish air drying use a common set of a brush
forcing a brush through tangled hair can cause it to rip and break use a wide
tooth comb to gently work through the tangles from bottom to top to prevent
breakage 3 use heat styling devices sparingly put away your hairdryer
straightener curling iron and hot rollers unless you have a special
occasion at hand applying heat to your hair can damage it so it's best to let
your hair dry instead if you want to use the blow dryer sometimes use it on a
cool setting when you do use heat styling devices be sure to put a
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yolk and olive mask a vinegar rinse or put plain yogurt or sour cream on your
locks search online for instructions 5 use egg oil Java egg oil contains
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