weekend charting 10 july 2010, page-5

pinto,

IPR is a very complex and difficult pattern. Stick with what you have and look for high energy moves across your lines, or high energy rejections of them to give you confidence that you have them in the right place.

If I was analysing this one, I would forget the pitchforks and go with parallel lines because of the number of gaps and near vertical moves.

I would start with a parallel on the 26/5 low to the 29/6 low, and run a parallel at the 17/2 low, another at the 24/2 high, and another at 17/12/2009, then try to make them equidistant.

Maybe Ten might put something up later. I might put something up tomorrow, when I have had a chance to think about it.

Trigger lines are just barriers. If price rejects the trigger (the highest probability) it generally does so decisively. If it breaks the trigger, there will be a huge battle to regain it, or there will be a collapse (up or down, usually down).

If you want to know what happens, analyse a lot of charts looking for it. You will get the idea quickly enough.