Even dogs know slope trendline is a joke, any live chart would show that, dont waste my time.
Does trendline work?
- Thread starter GloriaBrown
- Start date
Even dogs know slope trendline is a joke, any live chart would show that, dont waste my time.
US market drops with slow speed then pretty fast then very fast in last few hours, how many slope lines do you need to describe that?
Then it slowly rebound with a channel look, but then it kind of very slowly drop again and break the rebound channel, then not much movement now, how many slopes do you need to describe these and any prediction?
That's not a trend line. That's a breakout of a triangle pattern.
Also, and this is just me, I NEVER use LINES to determine trend.
To determine trend I use advanced indicators that incorporated higher time frame charts into a lower time frame. The reason being the trend on a higher time frame is MUCH MORE RELEVANT than a lower time frame. For example, you can have a counter trend on a lower time frame that you might wrongly assume is the overall trend.
Now some people can of course use multiple time frame charts, but I find it easier when trading multiple instruments to have just one chart for each instrument.
Amateur-hour here, but whatever. You all say ridiculous stuff daily, so here goes:
It seems to me that everyone who hates on trendlines specifically, and, more generally, technical analysis, either doesn't fully understand the information they are looking at (e.g., don't know what they are looking for or a lack of education) or they are merely jealous of other traders' abilities to "see" a trend in a chart that they are unable to.
It seems to me that everyone who hates on trendlines specifically, and, more generally, technical analysis, either doesn't fully understand the information they are looking at (e.g., don't know what they are looking for or a lack of education) or they are merely jealous of other traders' abilities to "see" a trend in a chart that they are unable to.
None of institutional professional traders use trendline. Only financial actors in TV, magazines, books use it and some people stupid enough to really use it.
