Do Trendlines work?
- Thread starter duard
- Start date
Actually, the points that your lines connect. The point at which your lines reach the trendline appear to connect a relative max on volume... Comparing the relative maxes seams to show a consistency that is also reflected by your triangles... However, it's just my own perception...
What I mean is that there are bars which are greater than it's surrounding several bars. Perhaps its coincidental that these bars constitute a majority of the points that form your triangle trendlines. The breakout seams to be in accordance with a volume reading that is greater than the previous relative max volume of your triangle. Of course, the breakout can stop continuing and perhaps your trendline can serve as both your entry and exit should the breakout cease to continue it's breakout... In any event, these are just my observations, (ie. things that would pop out at me if I were a pennants only person). I am not an authority, just things that I noticed while looking at your charts...
Kindest Regards...
MAESTRO,
Your elastic band indicator looks interesting. Give me the code please.
Your elastic band indicator looks interesting. Give me the code please.
Allow me to catch up on the remaining posts. It may be besides the point for the purposes of this discussion but my Half Hour off appears to have been misinterpreted as behind when in fact I had posted the context as being ahead (ie. 2 charts, before & after - I was confident in the sequences that were upcoming and thus created a projected before chart that turned out to have the sequences happen 30 mins before the actual chart had them happen). Regardless, I will catch up on this thread by reading the remaining posts since it is clear that there is possibly a lucrative lightbulb switch that can be turned on which I am not aware of...
Allow me a few moments to think and appropriately respond in accordance to this specification... Ignore my above comment for the purposes of favoring progression.
Kindest Regards...
Completely ignore my previous post since the first half is completely irrelevant. However, allow for some more time to focus and respond exclusively on the stated locale (ie. price and volume at the context of a completed first bar and developing second bar) and in the mannar requested...
Kindest Regards...
Kindest Regards...
Pretty good, Lefty!
Your "just eyeball it" may not work for the many though.
Trendline drawing or not, for me eyeballing never seems to work. I put my 2 cents worth into my computer and let it have its way with the "eyeballing".
Be good,
nononsense
Jack. Thank you. I misinterpreted:
"Why? Because you are looking for the first entry of the day TO MAKE MONEYFRO THE WHOLE REST OF THE DAY."
to mean that you were poised to take action based solely on those two bars.
You must admit that what you wrote first is not nearly as clear as:
"In fact, I poke of watching a bar form for five minutes. Then I spoke about a portion of the next bar. Think about it. A bar appears at 9:35:01 or so, then it continues to lengthen; then it may or may not extend beyond one of the ends of the first bar and while doing so there is a rate of change of volume under consideration as the volume of the second bar accumulates."
Now looking at:
"namly ends of bar 1 and one end of bar two. these three points may be used to rough out a channel"
implies that you are looking for persistence of the channel formed by the two bars, which is what I said in the first place, and which is testable.
Ya gotta understand, Jack, language is a two way street. If you want to be understood, ya gotta be understandable. And as to fucking myself, don't think I haven't tried. All the best. Mike.
"Why? Because you are looking for the first entry of the day TO MAKE MONEYFRO THE WHOLE REST OF THE DAY."
to mean that you were poised to take action based solely on those two bars.
You must admit that what you wrote first is not nearly as clear as:
"In fact, I poke of watching a bar form for five minutes. Then I spoke about a portion of the next bar. Think about it. A bar appears at 9:35:01 or so, then it continues to lengthen; then it may or may not extend beyond one of the ends of the first bar and while doing so there is a rate of change of volume under consideration as the volume of the second bar accumulates."
Now looking at:
"namly ends of bar 1 and one end of bar two. these three points may be used to rough out a channel"
implies that you are looking for persistence of the channel formed by the two bars, which is what I said in the first place, and which is testable.
Ya gotta understand, Jack, language is a two way street. If you want to be understood, ya gotta be understandable. And as to fucking myself, don't think I haven't tried. All the best. Mike.