Does trendline work?

[Buy1Sell2]

In order to profit, price must trend on some timeframe.

 

[Scataphagos]

Here's another example of "trendline support holding". The original question in this thread was, "do trendlines work?". Well, they're not the "magic pill that works every time", but they work often enough and with favorable risk/reward that all traders should mark them on their charts and play 'em. That's my view. But don't forget... all you EVER get to KNOW... is the "start". Everything after that you have to "play by ear".

View attachment 323058

Well... this trendline held as support once again. Do with it what you will.

 

[Scataphagos]

I doubt anyone can really code an objective trendline system with programming. Give the same chart to 10 "pro charters", very likely all of them would draw different trendlines on the same chart.

That is total HOAGWASH! A "bottoms line" for a chart stands on its own.... there are no "different opinions".

Agree about "coding for a trendline"... that's because there needs to be a "starting value"... and you don't know in advance where one will occur.

IMV it's IMPOSSIBLE to code "Price TA". 1., Too many variables, and 2., you can't know where the start of the technical pattern will begin.

 

[Scataphagos]

Update on the "trendline support hold play"... If this doesn't motivate you to consider playing trendlines, nothing will.

I know, the boo birds whine, "but what about the ones that break down?" Yeah, well what about 'em?

 

[murray t turtle]

He shows a curved trendline

%%
Curved trendline$ may lag , like a moving averge , but avoids ''trader bias''

 

[Scataphagos]

Update of yesterday's chart....

1. The 1st 2 points (single arrow) determine the line initially

2. The latest 3 points (double arrow) are "support tests of trendline"

Do with this info as you may...

KISS, Baby!

 

[murray t turtle]

Isn't posting past performance the same as trading the past?

If you feel the need to impress somebody, post your trades in real time.

%%
YES\
sort of \ but its $o much better than nothing\
have to study that/LOL
Nota prediciion or FDIC insured, thank God.[Back to my curve trend lines \moving averages.....................................................................................]

 

[themickey]

Finviz create auto generated trendlines on charts which appear helpful.

 

[Scataphagos]

Y'all want to know, "does trendlines work? [sic]" Of course they don't work (hold) 100% of the time like noobs "wish they did"... but THIS one could be a biggie... arrow!

If you understand "Price TA", the 4560-65 "trendline test" was a classic TA sell/short.

Trade what you see.... not what you "think/feel/hope"... KISS, Baby!