G'day Bones, thanks for the detailed reply & the 2nd chart. That makes sense, and sounds similar to drawing & intrepreting conventional S & R trendlines. To extend your comments, I find it fascinating how different methods often arrive at the same or very similar conclusions, and I see that when I compare pitchfork, ichimoku and conventional methods on the weekend charting thread. That's why I think its so great that people are using the different methods. To be honest, I still dont fully understand why pitchfork tynes frequently line up so well and provide good predictions, and therefore dont have the confidence yet to use them myself, I just know from looking at them that they do. Thanks again, Sharks.
BLY Price at posting:
$3.35 Sentiment: LT Buy Disclosure: Held