Does trendline work?

GloriaBrown said:
Just draw some straight lines on chart and you will win money. Does that make any sense? Can you prove it works or it is a tale?
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So sitting / tradin / thinkin (not about tradin - LOL) - today


Do you realize just how many forms TLs take - straight is one

MA's are a form of TLs..., as are bollinger / keltner / fibs / pitchforks..., and a whole host of others


Hmmm - this shit is simply amazing

RN
 
As I said previously, trendlines work when drawn properly.

Blue line not red one, late this afternoon on NQ:-

! NQ TL.png


But even when drawn properly a distinction needs to be made between qualified and unqualified ones to enter. Or fade it.
 
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deaddog said:
Can you explain why?
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Take the chart SunTrader posted - start left most bar (candle)


Think and speak in terms of buying / selling..., and buying / selling pressure

Then step through bar by bar (no reference to brooks intended) - describing what is unfolding

as you do this..., and have progressed thru some of the story - start incorporating in (blending) the story of what has happed over the preceding bars from where you began.., to what is happening


Next

That first long tailed candle (where the red TL originates) - why was it created (what did it accomplish) - there two reasons


Soon it will become self evident why the blue TL is the valid one..., and why the red one is there to fuck with one's day


Trading takes a different way of thinking and seeing (and of course acting)


RN
 
There's some pretty good artists here who enjoy drawing creative lines on their hindsight charts.

Here's a challenge for you all.

Draw out a trend line leading up to present time and give us a signal based on said line. And let's see how it works out.

I won't be holding my breath. :)
 
Laissez Faire said:
There's some pretty good artists here who enjoy drawing creative lines on their hindsight charts.

Here's a challenge for you all.

Draw out a trend line leading up to present time and give us a signal based on said line. And let's see how it works out.

I won't be holding my breath. :)
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Best not - it the weekend.., and a holiday

That you can't read price - no need to project your inadequacies

Signals are a dime a dozen


Maybe go forecast the reward on the stop you keep moving - LMAO

And no not disparaging stops / managing stop - just you.., and your holier than thou bullshit


enjoy not holding your breath :)


RN
 
Redneck said:
That you can't read price - no need to project your inadequacies

Signals are a dime a dozen

Maybe go forecast the reward on the stop you keep moving - LMAO

And no not disparaging stops / managing stop - just you.., and your holier than thou bullshit
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You run a big mouth and have nothing to back it up with, so I just chalk you off as 'noise'.

I would guess you're a retiree (not from trading profits) who enjoy spending your free time on ET being perceived as a guru by a few. In that category you're in company with many others.

If you perceive this as harsh, keep in mind that you invited it. I merely suggested a real time/present tense demonstration as that would be the only proof of any validity by the advocates of this approach, so no need to get defensive. If it works so well, why is it so hard to demonstrate it and share a real time signal?

To use your own words, trend lines are 'a dime a dozen'. On yesterday's chart there are many who failed, but are not easily spotted in hindsight.
 
Redneck said:
Take the chart SunTrader posted - start left most bar (candle)


Think and speak in terms of buying / selling..., and buying / selling pressure

Then step through bar by bar (no reference to brooks intended) - describing what is unfolding

as you do this..., and have progressed thru some of the story - start incorporating in (blending) the story of what has happed over the preceding bars from where you began.., to what is happening
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I find that difficult to do as the candles (with the exception of one) are all the same color.
I'd appreciate if you could walk me through it.

Next

That first long tailed candle (where the red TL originates) - why was it created (what did it accomplish) - there two reasons
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sellers drove price down then buyer came in.
I'd like to hear your two reasons.

Soon it will become self evident why the blue TL is the valid one..., and why the red one is there to fuck with one's day


Trading takes a different way of thinking and seeing (and of course acting)


RN
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this is way above my pay grade. one minute chart is way to fast. I trade EOD off a daily.
My days hardly ever get fucked because of a line on a one minute chart. :)
 
All analyses are hindsight, like all those YouTube videos. They are not wrong per se, just not particularly useful. The only true test is real time analysis/trading.

We tend to justify market moves afterwards and try to decode some patterns from that. It’s the human nature to rationalize things, which unfortunately doesn’t work well with trading since market is often irrational.

For trendlines, they only work 100% in hindsight and have no consistent predictive power, meaning that they work/don’t work in real time.
 
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