Bearish price ($1,150 handle) for

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Bearish price target with Bullish price target of $1,345 (if bullish market sentiment allows). Pitchfork is highlighted with a convergence of the horizontal gap to be filled and resistance of 3.14 and 3.236 deviations from midline. Once the $1,150 handle is filled the $1,345 target could be a high probability trade if market behavior allows. If price breaks and closes below $1,150 handle....much lower prices could ensue.
Update: Oct 17, 2014

Please see chart notations, a few additions from original posting. Notations illustrate how some of Lazy Bears and The Larks tools can be implemented with great effectiveness. Gap fills levels are my personal technique as well as the implementation of the pitchfork on the Laguerre Moving Average swing points.
+1 Reply
coondawg71 PRO coondawg71
chart added
Update: Sept 30, 2014

Price has gone to the point of resistance as expected by filling the gap created by trend change. Now it is sitting on the fence, either price breaks through this level with a large sell off or conversely use the resistance lines as support for large momentum swing upwards, both interior indicators show extreme weakness, therefore at this stage I would believe price is vulnerable to a sell off to the fifth deviation from the pitchfork midline (dark blue line of support).
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