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TAB 29 > PitchForks > Flashcards

PitchForks Flashcards

Study PF fundamentals

1
Q

Why we use Pitch Forks ?

A

Because, it is the smarter Trading Paradigm.

PFs are used by people in all financial Markets.

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2
Q

Why the SL is 2% of the Account?

A

Because, it will not affect substantially the equity curve

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3
Q

Why use a smaller SL?

A

Smaller Sl, same Risk = More Lots = More $/pip

Same Down Side, BUT greater Gains

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4
Q

What are the advantages of using PFs?

A
  1. It contains the History of the price channel, Actual price action in Real Time
  2. MLs have precise zones, pretty short, that invert price movement - That is why we can use small SLs
  3. Due to its consistency, they can be traded objectively, complementing our psychological growth.
  4. PFs uses all the candle info - OCHL
  5. They give direct indication of the trend - Easier to find the turning point in the Waveology
  6. ML are based in fibo relationships, they help to give clarity to the SnR in the Harmonic context.
  7. They have probabilistic relationships - Like the 80%
  8. Relatively easy to drawn an analyze, more data compared with TLs
  9. They are complement with the EMA 62
  10. More Confidence, less stress and more trades with Higher returns.
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5
Q

Do we chase trades ?

A

Nope, we set traps and act when they happen.

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6
Q

Is drawing PF a skill ??

A

Yes, drawing tradeable PFs is a learned skill.

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7
Q

In which laws are PFs based ?

A
  1. 3rd Newton’s Law, for every action there is a reaction
  2. Bobson, Applied the 3rd law creating the Normal line = ML
  3. Andrews, he add Channel + TL + ML = Andrew PF
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8
Q

Can we say which S&R are real ?

A

No, we can only say which ones are potential S&Rs in the future, and react to them in real time.

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9
Q

Why are PF Based in Fibo relationships ?

A

Because, every Swing High and Low is consequence of a fibo level, PFs are based in those relationships.

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10
Q

What 3 possibilities we have when price reached the ML in an AT PF?

A
  1. When price reach, there is a reversal
  2. If price go through fast and strong - There will be a median Re test and continuation
  3. Consolidation.
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11
Q

What happens if price do not reach the ML in an AT PF (4th case)?

A

It will go further than the reversal point. This movement will be greater than the movement to the ML

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12
Q

What is the probability of price to reach the ML ?

A

80% to reach and to made 1 of the 3 possibilities, the other 20% is the 4th case.

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13
Q

What is a warning Line ?

A

Is a parallel line that is outside the PF equidistant from the ML to the UP, LP. Technically a slider outside the PF with the same channel width
We activate WLs after price leave a valid PF

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14
Q

How the MLs are found?

A
  1. we draw a TL based in the pivot points. SHs or SLs
    2.Copy the TL to the other point of the Swing, creating a channel.
  2. Draw the PF that converge with this set up
    PN. Always try to follow the direction of the 62.
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15
Q

How we use the EMA 62 to draw a PF?

A

First, looking at the general direction of the 62
Second, Find the SH, SL that defines that general direction.
Finally, Apply the PF to that direction.

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16
Q

Are PFs faster to act than TLs ?

A

Yes, for TLs we need the 3rd touch. For PF we only need the Swing and we can trade the next touch,

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17
Q

What is a fibonell ?

A

Is a Slider ( a parallel line to the ML), but fibo related to the Swings that the PF is based on. Usually a place where price like to interact

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18
Q

Where we draw a slider?

A

we can set sliders where price turn inside the PF to catch the 2nd and 3rd bounce of that line + a SnR creating an EP.

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19
Q

When is the time to draw a PF ?

A

When there is a big movement (Swing) and price bounce in the end point leaving that Zone.

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20
Q

Which PF we draw first BF or AT?

A

Always start with a AT, later adjust to a BF.

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21
Q

Is there only one profitable PF per Swing ?

A

Nope, there could be various PFs, is my work to evaluate which ones give me pips.
There could be more than 1 profitable PF per Swing.

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22
Q

How we can keep a PF for a long time ?

A

By drawing it and confirming that price is interacting very good with it. This is what made the PF predictive

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23
Q

What possible types of situations with PF we could have ?

A
  1. One PF that is working perfectly
  2. 2 or more PFs with decent strength - Both tradeable
  3. No clear - Move to another pair or another TF
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24
Q

How a successful BF PF is drawn ?

A

it is achieved successfully after 2 or more touched to the ML or UP/LP

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25
Q

what is the main difference between AT vs BF ?

A

Is not how they are drawn, but when.
AT as soon as a trend exhaustion has happened and a new SL, SH have been developed.
BF need more information an specially those 2 touches.

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26
Q

What happens when the 62 is in the upper channel?

A

there is a 80% prob of a HWC trade with a TAG of the 62 going to the ML

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27
Q

What is expected if price leave the PF strongly ?

A

It is expected that price return to the ML.

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28
Q

What is an energy point ?

A

Is a point of intersection of 2 lines. Two PFs Parallels, Mls or a PF with a fibo lvl or a SnR

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29
Q

What could appear in a too big PF ?

A

more fibonell bounces and internal PFs.

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30
Q

Until when we have to practice PFs ?

A

Until we can see them automatically - subconsciously in the charts.

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31
Q

What a Zone needs to be a HPRZ?

A
  1. Multiple INSs in a 3-5 zone
  2. Fibo retrace, extensions or projections
  3. ML, UP or LP
    Various Fibo numbers in a zone is a fibo cluster.
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32
Q

How we can draw a PF using the WL or another one ?

A

Using those warning lines and the ext fibonells to determine the new channel, and then with that info drawing the PF.

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33
Q

How we differentiate good PFs?

A

When there is a developed channel, with clean touches to the ML or the UP/LP

34
Q

Is the BF PF static ?

A

No, we constantly adapt it to the Channel with more data that is coming.

35
Q

How a reverse PF is drawn ?

A

Using the information of a swing to BF a PF backwards in order to get compliance, then using this information we adjust the angle of the PF in the main direction.

36
Q

How waveology is benefit from PFs?

A

Using Higher TF Pfs we can find better HWCs.

37
Q

What is the benefit of using PFs?

A

They are the easiest way to find zones with High probability to reverse, and then adding TAB 29 we increase the probabilities a lot.

38
Q

Why fibonells are more relevant in Higher TFs ?

A

Because they can be PFs of lower TFs.

They create Parallel channels.

39
Q

What kind of set ups we are looking for?

A

We are looking for set ups with probability to create trades.

40
Q

It is advisable to draw PFs in Highs and Lows that are related to HWCs?

A

Most definitely.

41
Q

How Successful traders divide their time ?

A

60-75% doing set ups, 20-40% trading those set ups.

42
Q

Where traps come from?

A

Traps come from stacking probabilities in ourside

43
Q

Does every SH, SL create a PF?

A

No, only those with bigger probabilities.

44
Q

Is a small scale in a PF acceptable ?

A

No, we need to find PFs with appropriate scale for the TF we are working on.

45
Q

It is better to see price action in just one or in both of the channels inside the PF?

A

Is always better to see price action in just One of those two channels.

46
Q

Are PFs technical trading ?

A

Yes, PFs are the purest form of technical trading.

TLs are the ultimate form of technical trading.

47
Q

How is a wicky pair?

A

With candles that have:
1. wicks of the same size of the body.
2. Large wicks in both ends
3. Consecutive large candles in one end or both
Note. Do not confuse a TTP touch with wickyness.

48
Q

What Pros do that amateurs Don’t ?

A

Pros sort the best kind of trades.

Amateurs chase every kind.

49
Q

What kind of TLs are PFs ?

A

They are sophisticated Fibo based trend lines. PFs are TLs with steroids.

50
Q

Do we trade the norm or exceptions ?

A

We always trade the norm, we do not care about exceptions.

The norm is always a high probability trade

51
Q

Do we trade every fibonell hit ?

A

No, we do not even trade the 3rd hit, we only take the ones that are related to a HPRZ, powerful EPs.

52
Q

Fibonell vs Parallels.

A

Fibonells are possible and probable, however parallels have better and higher probability.

53
Q

What kind of fibo value we look in TF > 30m

A

The cores - 38.2/50/61.8

54
Q

Are pairs never or always wicky.

A

No, a non wicky pair could be 70% normal and 30% wicky.

I have to be a Pro and sort properly

55
Q

What happen when price escape of the PF.

A

There is no probability that price respect the parallels.

56
Q

What we can do if we find a SnR that is part of the parallel lines?

A

we can trade the 3rd touch of the TL.

57
Q

What is the result of a valid TL and a horizontal Fibo?

A

The result is that there is only one candle that can hit that intersection.

58
Q

What are the benefits of EPs?

A

They are a sort vehicle for Pros
Has the highest probability
Has the higher chance of a bounce
That bounce has a greater probability to be a larger than normal move.

59
Q

what we will do If something happen that is not an EP or meet the perfect criteria ?

A

We do not care about it and let it go.

60
Q

In which direction of the PF we can trade?

A

Both, however is always better to trade in the main direction.

61
Q

What is successful trading about ?

A

It is about constant results every day, every week, every month, etc.

62
Q

Are PFs a system?

A

Yes, they are and they could be used with any confirmation tool.

63
Q

What made Harmonics special?

A

They are the hottest zone in the charts, not always but the vast majority of time.

64
Q

How many trades we can take from a CD/XA PF?

A

2 - 3 trades the VOT.

65
Q

How MM is created ?

A

It is scaled to our degree of Mastery, the type of move we are taking and the capitalization.

66
Q

Why the CD is one of the most PF that we can have?

A

Because, D will be a true reversal, per Elliot Wave we will catch the 2 wave within the 50-61.8 retrace + LP/UP to the 80% ML touch.
This is a strong probability cluster.

67
Q

What is the average wave (TF) Channel in 30, 10 and 1m ?

A

30m - 72 pips
10m - 26 pips
1 m - 7 pips

68
Q

Why I must draw 1 min PFs?

A

Because, that way I could find EPs easier intersecting wit a higher TF PF

69
Q

Is there one only PF that we made that is perfect?

A

Nope, we can not abuse PFs, we have to treat them properly.

Never getting emotionally attached to them.

70
Q

Can we have a PF with effy touches?

A

Yes, only if the swings are HWCs and we use TAB 29 in every single entry to confirm.
This means a tradeable PF with HWC.

71
Q

What is the reason to decide to trade from a PF?

A

The only reason to trade a PF is when we know that it is pristine and ready to work.

72
Q

What could stop a Snake?

A

Usually the MLs, UP/LP of a valid PF.

73
Q

What a channel needs to be a True Channel?

A

It needs to have Absolute TLs, perfect capturing price

74
Q

In which cases we can use MM from a parallel to a ML after entry?

A

Only in proven PFs.

If our entry is not a perfect one, then other situations will require different MM strategies.

75
Q

How I will know which PFs are better?

A

Through deliberated practice everyday.

With VOTs and PFs I will decide which ones work for me.

76
Q

In which situation we can entry before TBF in a live candle?

A

In the situation that we have a strong proven text book PF.

Because the nature of the entry will make price reverse quickly.

77
Q

When we trade BFs or Reverse PFs ?

A

Only with Solid touches and Strong EPs.

78
Q

Can we trade against the main direction of the PF, Channel ?

A

Yes, But Only when we have pips at Hand.

Remember that every channel will be broken eventually.

79
Q

Why is important to Master TLs?

A

Because they work perfect for POTs and in the indicator to give us trade all day long.

80
Q

Does a little short of pass of price invalidate a TL?

A

No, it is ok to have a little breach or to be a little short, however, That decrease the probabilities.

81
Q

Does a TL in the indicator will be for a trade against the main direction of price?

A

No, always a TL in my Indicator must Mach the kind of trade what I am going to take.

82
Q

Should I let TAB 29 take me out of trade from the PF system?

A

No, I should not let TAB29, in Scale, take me out of trades that are favorable to me.

TAB 29 (5 decks)

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