weekend charting 4th 5th 6th march, page-111

Guys, my first ever chart so please be gentle. Have been an avid follower of the weekend charting threads and as a result was inspired to get some technical skills to help my trading. I have been fascinated by pitchforks so I thought I would try and see if I could apply it to the chart. Took me a long time to find the red one which captures the recent price action but I am not sure if I have kept to all the rules.

Feedback would be greatly appreciated.

Many thanks to all the posters on this thread and all chartists on HC in general from which I have picked up some useful tidbits along the way.

Stock is DEG which I hold but have tried to be as objective as possible.

I think chart will hit the trendline in the blue ellipse. This coincides with the middle tyne of the red pitchfork. Needs to hold this important support and would also fill the gap at 5.4c.

I am guessing resistance will be 6.4c which has previously been breached but not held. Slow stochastics are also close to turning and are nearing support.

If this support fails, it could work down along the middle tyne of the grey pitchfork which I just "discovered" when I thought of the consequences for the ascending trendline not holding.

Has been about 2 hours since I first started this post. LOL. In total time spent on chart was about 4 hours. Knowledge and value gained from drawing my own chart, priceless.

From Drop Box