Irongate and Straight Parrying are very similar guards and are often mentioned together as if they were almost interchangeable. Both are defensive postures known for their ability to respond to practically any attack. The difference between them is essentially the height of the hilt and corresponding angle of the blade, as the point is approximate the same height in both.
Right foot forward with a bended knee, point at eye level, hand in 3rd at hip level.
Right foot forward with a severely bended knee, point at eye level, hand in 3rd at waist level.
Note that in fencing the waist is NOT below your belly button where modern pants go. It is the narrowest part of your torso, usually just below the rib cage. If you bend to either side, you’ll see a crease at your natural waist line.