pitchforks

[da-net]

thought it might be interesting to take a look @ GS and watch it, especially given all the bad PR. Any thoughts?

 

[konviction]

Thats a very large fork on a large time frame. Price isn't even within the fork, so we cant say that the fork has any influence on price action until price respects one of the lines, which will take a long long time imo. Probably best to find a fork that fits better or go down to daily.

 

[konviction]

Here would probably be a better perspective on the weekly. Here I took the original blue fork, and just copied it twice..you can see that price respected three other levels of equal distance, once the original blue fork was broken.

 

[konviction]

Might be a good time to buy some BA soon.

 

[konviction]

Getting off to a good start on KO.

 

[konviction]

UNH looking ripe for a short trade. Upper fork line resistance needs to hold here on the daily, but weekly charts also suggest a long term down trend, which is nice to have bearish confirmation on two tf's.

thouhts?

 

[konviction]

UNH weekly view.

 

[konviction]

I like Nile here on the weekly median line. Showing support, and I'd like to see a + close for the week.

 

[4EXJOE]

Has anyone ever tried the forks for forex trading?

 

[konviction]

Yes, in fact forks are more common in fx than stocks. Check out this thread http://www.forexfactory.com/showthread.php?p=3775439#post3775439