pitchforks

SNDK, and yes, it's also on my list of favorite stocks, but no so much as csiq and caas. The daily looks great. Nice pull back, and today we had a 2pt move?..jump on the bandwagon you say?...not so fast, because things are different on the weekly.

daily...
 

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sndk weekly. This should change your perspective greatly. Any swing trader that ignores the weekly is just insane imo. I think any trader in general needs at least two time frames to work from. But back to my analysis. First of all, we're trading in this big red fork with resistance in the 35 range. We are trading below 200sma, which I look at to help determine trend changes, and also on the black fork, we're at the upper fork line (which is resistance).

Unless we can come down, and test the black median line of 20.00..which there is an 80% chance we will, or break above the 200sma, I probably wont be going long any time soon....maybe looking for shorts instead down to 20. This can move an average of 1.10 a day..proceed with caution. :)
 

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vlo. Closed above the 200sma today, possible trend shift to the upside. At red fork line resistance right now, and we need to break this blue trend line. After that I say we go to 30.
 

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Quote from konviction:

this next fork is off 2min charts, and you should notice is looks quite different. Here the red median line hasnt been tested like it was off the 512 ticks, and the green lower fork line hadn't been tested, but here off the 2min, price is actually below the green fork.

lets add some modified forks, and see how this changes the picture...
More...

Glad to see a fellow pitchfork trader and thank you for your charts.

My experience with them is that they work much better in big charts where the market has a much better construction of price.

No Heat
 
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