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| Despite my best efforts to understand pitchforks and countless hours spent watching Youtube videos, I still feel like you all are speaking a different language than what I understand. JP posted a soybean chart on the 21st and on that chart price had come down to check the top line of the fork. When I look at that fork it doesn't appear that any of the two lower lines have been checked at any time. If the line is never checked is it still a good fork to use? When I watch people drawing forks on youtube, they consistently talk about the necessity structure being taken out as confirmation of higher or lower prices to come. If the last low is taken out, and the structure is violated to the downside, does that mean gravity or the forces of nature take it down to $1.50 +/-? On the otherhand if the recent low holds and structure is taken out to the upside at $10.75 is it safe to say the big downsloper is no longer relevant in the near term and a new set of lines would be drawn? I understand that you don't just throw it away for longer term reference. Thanks | |
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Chart Question From JP's 6/21 post
