weekend charting april 17 18, page-94

Totterdell,

RE ANZ

I had exactly the same pitchfork as you (see Blue pitchfork) but then overlaid a more recent one to see if I could get some confirmation as to what I thought may happen.
My Green Pitchfork and Red Pitchfork show a lot of work around the upper trendline, the Red in particular interests me as from what little I have learnt about Pitchforks, if the SP bounces down from the upper trendline, this is typically a signal the SP will return to the Median Trendline.
Similarly on the Green, if it breaks through, it should continue on down.
If the SP does this, it will break the upper trendline of the blue pitchfork and the SP should then move towards the ML of the blue pitchfork at around $22.
Fairly bearish scenario but if it plays out it will be a big payout.

Might even be worth a put option.