weekend charting march 18-20, page-155

Rhodes,

pitchforks go Low/High/Low or H/L/H. Not many of yours do, except that up facing one.

First chart here is 2 years of daily. If you look carefully at the red fork you will see that price penetrated the ML to the same extent twice. You could probably draw a parallel line under the ML to show you where dynamic support might be.





Second chart is more in your time scale. Blue fork is there to show you the IT consolidating influence. red fork is there to show you the ST decline, and that its resistance tine is broken, which I interpret to mean the down force is disipating. Green ST up fork is there to show you that the ST rally just failed. Having that spinning top type candle between the overhead green line, which is now ST resistance, and the horizontal blue line, which is now IT support, above to red line which you know is there, but slowly falling away, really says it all. There is indecision. I would be surprised if there is not another down test of the blue support line.



As far as drawing forks, you will make your life much easier if you just draw the HLH and LHL variety, then use the frameworks to try to tell yourself the story. When you can do that, and make sense to yourself, then add some more tools.

In the meantime, good try, but no prize today.

Best
C U B3

T91