There we go.
Does trendline work?
- Thread starter GloriaBrown
- Start date
There we go.
sheer genius, sir!
So, are you tradin DICK live or just simmin' till you get your method straightined out?
I'm quite flattered by your reply XDDsheer genius, sir!
So, are you tradin DICK live or just simmin' till you get your method straightined out?
this would only be one of the tool.
you can't build a house with only one tool.
I guess DICK is even less than a tool, more like an interpretation of a tool.
Like the imperial/metric scale on your measuring tape, lol.
What you want to do with trend lines is to also and S support and R resistant lines. You can for example trend up to a resistance and then price will reverse back down.
R and S work because there are other traders who for example may have bought at a support level. They may target the resistance. Some might want to target a higher price level, but unless there is really good news, resistance will hold. As price starts to fall back from the resistance level, traders who were long don't want to give up all of their profit and start to sell. Also, remember short sellers may starting selling into this weakness too also creating volume to drive price to trend back down to a support level.
R and S work because there are other traders who for example may have bought at a support level. They may target the resistance. Some might want to target a higher price level, but unless there is really good news, resistance will hold. As price starts to fall back from the resistance level, traders who were long don't want to give up all of their profit and start to sell. Also, remember short sellers may starting selling into this weakness too also creating volume to drive price to trend back down to a support level.
%%
OK;
+ dont expect them to track that trend/line that well long term.Especially a trend\line drawn in hindsight, but like a lagging moving average /helps anyway.......................................
Fools just like watching sloping lines on chart. All most popular writers in Tradingview keep posting those non sense charts everyday.