This tread (sic) has become so unutterably dull that shortly after the close I shall post a chart which, in my best charlatanic manner, proves unequivocally and irrevokably that trends work. If I may borrow from Thomas Watson's old IBM motto: "Trends should work. People should think." Stand by for incoming, mes enfants.
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Do Trendlines work?
- Thread starter duard
- Start date
Hi WW,Quote from Wiles Welder:
This tread (sic) has become so unutterably dull that shortly after the close I shall post a chart which, in my best charlatanic manner, proves unequivocally and irrevokably that trends work. If I may borrow from Thomas Watson's old IBM motto: "Trends should work. People should think." Stand by for incoming, mes enfants.
Other IBM oldie:
"All parts should go together without forcing. You must remember that the parts
you are reassembling were disassembled by you. Therefore, if you can't get
them together again, there must be a reason. By all means, do not use a
hammer. - IBM Maintenance Manual, 1925"
This is where ole Jack must have picked up some of his better TA tricks.
PS: dull thread? 128 pages is nothing for such an important topic as Trend.
A one minute chart of NQ in Pacific Time. Note the beautiful trend. Also note the yellow caution lights at the bottom. I code these low volume times yellow to remind me to "Stay the piss out." Also note the prices at which volume spikes occurred. See how nimble you would have had to be to get out when the trend ended if you gotten in with the crowd? The whole thing reminded me of reeling in a big fish (a sucker fish?). Jack afficionados will note that there was no FTT before the BO. N.Q. Enqueue stalwarts will note that price did not rebound to the TL after BO. Did I trade it? Nope. The little yellow spots on the snow, remember? So do trends work? They certainly worked well for NQ market makers today.
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Using what criteria? There was no FTT. But I forget. Is the LEFT side the RIGHT side?
I will answer my own question. The brilliant Jackers among you would have noted the low volume at the last thrust (unnnnh!) before the BO. I didn't notice it myself because I wasn't in a trade. I was in something else.
Quote from Wiles Welder:
Using what criteria? There was no FTT. But I forget. Is the LEFT side the RIGHT side?
I think the ftt only applies to the left channel and there was no bounce at the right channel to reenter. Again Im just guessing. Maybe well get some clarification from the experts.
Thank you for your professional opinion. But nowhere in there did I see a critique of my analysis. I have PMed N.Q. Enqueue, ET's premier NQ trader, and he agrees with me. Of course, it is so much easier to critique a trade you didn't take!