100% PERFECT TA setups... If you're not watching for these, you might as well go flip burgers.

[schizo]

It takes only 2 points (ie. 2 bars) to establish a trend line. It takes 3 points (ie. only 2 bars as well) to establish a channel.

You're really sounding like a tard now. Yes, it takes only 2 points to connect the dots. BUT YOU WON'T KNOW WHERE THE SECOND POINT IS UNTIL IT BECOMES CLEAR AFTER THE FACT. That is, you won't know if the second point has actiually reached the top or the bottom of the channel (until in hindsight) as shown below.

More importantly, even if you drew a line like in the chart above, you can't technically enter a trade until there's a third point. Man, you need some major help. Either you can put me on ignore or don't bother replying to my post from now on.

 

[tiddlywinks]

You're really sounding like a tard now. Yes, it takes only 2 points to connect the dots. BUT YOU WON'T KNOW WHERE THE SECOND POINT IS UNTIL IT BECOMES CLEAR AFTER THE FACT. That is, you won't know if the second point has actiually reached the top or the bottom of the channel (until in hindsight) as shown below.

More importantly, even if you drew a line like in the chart above, you can't technically enter a trade until there's a third point. Man, you need some major help. Either you can put me on ignore or don't bother replying to my post from now on.

I guess I'm a better chartist than you.
I drew the lower TRENDLINE first... using only 2 bars.
The upper parallel line, makes a parallel channel using the first 3 bars, in THIS example.

MY lines, combined with MY methods would have gotten me short while you were still figuring out where a second point was.

 

[maxinger]

Mine is even better;
I don't draw lines at all.

But I do write important points on the chart so that I don't lose focus.

 

[schizo]

I guess I'm a better chartist than you.
I drew the lower TRENDLINE first... using only 2 bars.
The upper parallel line, makes a parallel channel using the first 3 bars, in THIS example.

MY lines, combined with MY methods would have gotten me short while you were still figuring out where a second point was.

I can only say, WTF?

It still doesn't matter. You still will not know until after the fact because, as you can see from below, the next bar breached the line you drew. Now you can't use that line as a trendline anymore.

And to draw the upper channel line, you first need to correctly identify the bottom channel line or the trendline. If you draw a bad lower channel as you did here, you'll only end up with bad upper channel line.

 

[schizo]

MY lines, combined with MY methods would have gotten me short while you were still figuring out where a second point was.

Are you serious??? You used two candles back-to-back to draw a trendline? You think I'm a friggin' noob?!!

 

[tiddlywinks]

Are you serious??? You used two candles back-to-back to spot trendline? You think I'm a friggin' noob?!!

I'm startin to think you're a frickin dolt!

Yea, 2 candles. Here's a 2nd example.

 

[schizo]

I'm startin to think you're a frickin dolt!

Yea, 2 candles. Here's a 2nd example.

Alright, you know I actively post my trades in realtime in the ES Journal. Why don't you come over and post your trades for me to verify as well?

No after-the-fact BS. Just straight up trades.

 

[themickey]

Channels with parallel lines is not a norm imo.
Yes you do get parallel lined channels but very frequently channel upper and lowers are not parallel.
Using parallel channels as a default is imo just incorrect due to 'random' type events.

It's similar to the example earlier in this thread, you can draw a series of random horizontal lines and they will appear to be significant on hindsight.

The majority of channels in my experience either slope together or apart.

Think about trends: They begin tentatively, but as the trend progresses more dumb money then enters.
The blowoff top is the climax of dumb money spending.
So, as regards channels, the channel (trend) begins narrow and widens as dumb money pushes price harder to the pop off point.

 

[themickey]

Bitcoin is a great example imo of TA principles in play.
Imo, bitcoin is very conducive to TA laws/theory.

Here is a series of channels / trends, where bitcoin blows off.
Log chart.

I've mentioned in a prior post, trendlines can appear curved, they're not curved!
What you have is a series of straight trends which are losing speed (or gaining speed).

 

[tiddlywinks]

Channels with parallel lines is not a norm imo.
...
Using parallel channels as a default is imo just incorrect

https://www.investopedia.com/terms/c/channel.asp
A price channel is a chart pattern that graphically depicts the peaks and troughs of a security's price over a period of time. If there is an observable symmetry in the oscillation, then it is considered to be a valid price channel that can be used as a tool for stock analysis. Market technicians suggest that at least four points of contact are required (two each for the upper and lower lines). Price channels can move either upwards, downwards, or stay flat, but the two lines must be approximately parallel.

https://www.investopedia.com/trading/channeling-charting-path-to-success/
Channels provide one way to buy and sell when the price is moving between trendlines. By "encasing" an equity's price movement with two parallel lines, buy and sell signals, as well as stop-loss and target levels, can be estimated. How long the channel has lasted helps determine the channel's strength. The amount of time a price usually takes to move from high to low (or low to high) provides an estimate of how long trades may last.

The majority of channels in my experience either slope together or apart.

OK.