Basically Erich, sooner or later the price HAS to hit one of those lines on your chart be it the close or the intraday swings.
How can it not?
I used to be really big on TA but the more I see it, the more I think it's a load of rubbish.
I think price and volume have some very telling patterns but these pitchforks Fib leves MA's and often even trend channels morph from one thing to the next and the TA guy ends up making it up as he goes along.
