Does trendline work?

SunTrader said:
And then there are trendlines drawn on indicators - showing divergence at trendline break in the case of ATOS. What does that mean .... shooooort it or at minimum bail from long and grab a sixpack View attachment 261901 :):-
More...
"...A Failed Bullish signal can turn into a Bearish signal." steve rhodes

A Nice Tight Stop (made possible by mr Trendline, by the way) a Stop So Tight It Squeaks - placed below that Hammer at Support, got you out of that loser and into a winner soon enough to help Forget That Loser.

Divergence! lol
good on ya
 
Open Cattle CAll:
Do these charts work?

What are a couple of Entry Setups you recommend are worth testing?
Have a view on this matter of Renko Chart day trading?

ps Gloria if you want this post transplanted outa here, say the word,
but i betcha Renko uses Trendlines too.

Let's see ....

estrend-jpg.261918
 
Last edited:
Trendlines work on hindsight, i traded patterns for about 3 4 months and the tale would be the same
once the plays out you be like "ohhhh this where the trend line meets!!!!!"

How i looked at patters/trendlines in my early trading days
*draws a trendline*
*waits and enters at the 3rd touch*
*price takes me out creates a new level*
*me adjusting the trendline to connect the 3 touches*
*beating myself up for taking the loss*

Don't get me wrong
There are people who make consistent gains with trading trend line no doubt
but it requires a lot of back-testing data and samples data
If it works for you that's great!
 
Almost everything works if one hedges and not day trading. Only thing we can for most part control is risk.

I use TL but very wide PS long term cause of hedges, at some point if TL don't hold, position is reversed and hedged.
 
I believe trendlines are a great method to find support levels and resistance lines. Although these trends don’t always have a precise level. Often, you’ll see price bounce before it hits the trend line, or push through slightly before falling back into the long-term trend. So, I won't suggest to solely reply on them but yes, these trendlines help me a lot along with other indicators.
 
tommcginnis said:
Just what do you think algorithms are computing anyway, champ? :rolleyes:
More...

gu7Pr9Y.gif


You know, that is a real good question. I hadn't thought to ask it.

"Trend lines" are different from horizontal lines, no? Like 9/27 low on ES was 4224, so if I mark a horizontal line there to remind that that might be considered a "breakdown" level, that is NOT trend line as discussed here in this thread. Trend line here refers specifically to diagonal lines?
 
You must log in or register to reply here.
Back
Top