I don't know about those support trendlines in the first chart. Seem iffy to me.
You guys should REALLY learn about andrews pitchfork and median lines. I will post up example's of a few charts soon, but using median lines, you could have predicted the bounce from this level to the dot.
After really studying pitchfork analysis the last few months, it has by far become my most trusted indicator. WAY overlooked by so many traders. Either people don't know how to use it correctly, or don't know about it.
I hope this makes sense. I tried to compress alot of info onto one chart. There are dozens of pitchforks on this chart that one could use, the trick is finding the right ones. It is similar to elliot wave in that there are pitchforks within pitchforks. But I'm telling everyone, this indicator is incredible.