Theodore, Saskatchewan | > Hi maydel, Sorry to be back on this subject, but this statement has me scratching my head some and I would like to make sure that my intention vagueness hasn't cheated you out of some very important information. Regarding that first chart, it has only one upsloping fork on it. If you don't mind, and without drawing, just jot down what information that chart gives you? Like you mentioned below, everybody must use the lines in ways that makes sense to them, but there is something inherit there that you need to see. I just want to be sure I am being clear enough..... :-)
Hi Jpartner, I was careful with what I said because I do not want to put words in your mouth, and I know there is something with cattle that you do not want to say and sway my analysis. Here is the information that the chart gives me in no particular order,
Long term higher price action with 3 legs and pullbacks. I see 3 higher highs and 3 higher lows. It appears that the uptrend is not broken.
At the moment we are near a gap on the chart that is below current price.
The fork drawn is interesting, because price has not gone to the median line. In fact it is consolidating in an uptrend on the lml. My knowledge at the moment of Andrew's does not give me either a bullish or bearish reaction from this. Bearish because it did not move up to the median line, bullish because although bouncing above and below still trending up lml without completely breaking it. I would connect a line from the center pivot on the fork to the lower pivot and beyond to watch price breaking that line for large bearish action.
While I can study Andrew's through many methods a lot of information regarding whale tracks and bearish/bullish structure is largely your vast experience in charting. This I do not have and so with that particular chart I do not have more information. I would have to draw further lines and adjust the chart for other readings ie candlesticks
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cattle update
