Stock Market How to Make Money
how to make money in the stock market using
technical analysis this is part one and you can watch any of these in any order
and now we're going to show you how to do this with today
Andrews pitchforks so let's take a look at what that is it is a geometry pattern
that we use to appear click on Andrews pitchfork obviously your software may be
a little different this is NinjaTrader it's a three-point drawing to we go one
two and three
now the proud the point of this is we're going from a high significant hi to a
lower low and then to the next high and we are looking to draw this in the
energy of a new trend of new move is going to show us the relative strength
of price action as it continues in that trend so this is called a pitchfork and
basically as you can use your imagination a little bit you can see
this is called the handle here and that's the handle of the fork just think
of it as a fork and the fourth is angling down and then from here you have
besides going out like that and that and then the tines all times of the fork are
going this way okay there's the middle time
there's another one there's another one there's another one okay now the primary
times that we're looking at our first of all the middle one is most significant I
got that in black so this one here to meet growing is and then this one in
this one so I've got these are drawn in different colors the middle one is black
and then the outer two from that are in a darker blue as you can see it a little
thicker so ultimately what we would like to see is the market to stay within the
boundaries of this line or time if you will and this one here because what that
showing is that the market is maintaining the same relative strength
as this initial impulse moved from there to there and then down again
ok got a lot of lines lot of zeros on there it's getting kind of messy so
let's take all this stuff in here
alright so remember it's all about the energy of the market how is this energy
continuing so again our initial three points were those three that set up a
particular type of energy for the market to go down and we wanted to stay below
this line and basically above this line because it goes below this line that
means the market is probably have any exhaustion pattern be unusual so we get
a wave one here at states with them area we've to stays below that time great
wave 3 comes right down to the bottom one we have four actually coming to stay
here now here we start to show a little bit of weakness see that it comes back
up and we're still okay because it doesn't go above this one doesn't get
about
that one this is your final hurrah up here showing a little bit of weakness
and then when it comes down and get back to get back to the middle but look it
does not come down to that one
so this is the key that we're watching five wave pattern is what is normal
we're looking for a trying to have five waves and they don't always have five
waves sometimes lonely go three other times of the seven or nine or eleven so
what we're doing is we're counting our waves to see if it will go the average
of five or if it will be an exception to the rule and we do that by simply
looking and the relative strength of the market relative to the initial impulse
move so here we're good here
oops we broke out above that line so that's our first little signal that all
there's weakness the strength of this trend started yet weaker doesn't get
back to this line to have the downside nope
it only goes to that one so when we put it away five there then probably we're
going to just go ahead and get out
I would that's what i would do because right away 5 which is average as far as
the length of the trend goes five waves and it's getting weaker
it didn't get down to this lined out here going out to the middle one and
then it goes back out now if you want to be a little more free-flowing with your
money management and you think Oh could go further it can go further down just
gets weaker doesn't mean it won't go down any further
you might want to place your step outside of this line and definitely
outside of that line for sure but look how much money you're giving back when
you do that
so you're giving back a lot of potential profit here about ten dollars in this
particular case and once it breaks out of that will then we're done then this
initial energy down is completely changed
what are we going to do them then we're going to do the exact opposite of what
we did before going to take this pitch work off and we'll put a new pitchfork
up and it's got the wrong
but in there so we're gonna go now measure it up from there to there and
two there and now measure the movement up alright and let's just look at
something here real quick because that's kind of and look at it didn't go very
far did it hit it knows how though the market did respond to those zones if you
will and kind of goes little climbs up this one that's already on the outside
kind of breaks to the outside of it immediately meaning that do not expect a
big move to the upside right here at least not on the same energy and it just
goes outside the zone right away and starts outside the time so once that
happens then what i would do is see how the energy just goes sideways then this
was not a strong this is a strong move up here
123 but that same type of energy does not continue up you can actually 20 real
creative with it a little more advanced for you you can actually then go to like
that low over there and say okay well this is the energy that it established
and it did and now here's our three primary times and it goes up stays in
there for field three minutes fails comes all the way down and it's outside
what happens when it goes outside totally chaos so it does not continue in
that same direction
ok so that's the idea so if you like this video
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yeah