The trendlines you added to the chart above correctly bracket the current downtrend in price. I removed those same trendlines from my chart before posting in order to eliminate the "cluttered" look. To be honest, how Jack uses his trendlines isn't one of my areas of expertise. I never could get my trendlines to match Jack's or Nwbprop's charts. Perhaps, you could point me to the post you reviewed.
However, I do use trendlines in order to determine if my particular targets or trades "make sense" or not. In the past, I have set target prices too high (outside the channels), entered long at the incorrect time (at the opposite trendline) or failed to exit when price bounced off a trendline price point (exited too late). I use Jack's Channels to avoid these mistakes.
While reviewing charts this weekend, I did notice that almost all "20% price breakouts" occur after a day when volume is less than the 65-day average volume on the day before. In other words, based on the concept of "Very Low Volume" - FRV - 20% gain, the low volume period is almost always less than the 65-day average volume - even if the "Very Low Volume" fails to fall to the level of "Dry Up Volume" as we currently calculate it.
I'm not altogether sure if the above answered your question or not, but I hope you find the information useful.
- Spydertrader