TA question often asked... "Do trendlines work"?

[Scataphagos]

Here's one from this morning. Clear "trendline support play". How long will it hold... how far will it run? Nobody knows. All you get to know is the start*. After that, you have to "play it by ear".

*Knowing the "start" or "possible/turn" is a HUGE edge. If you can't get off on that, you might as well go flip burgers. The market is NEVER going to offer-up more than this!!

Classic "Price TA"... KISS, baby!

 

[SimpleMeLike]

Here's one from this morning. Clear "trendline support play". How long will it hold... how far will it run? Nobody knows. All you get to know is the start*. After that, you have to "play it by ear".

View attachment 328015

*Knowing the "start" or "possible/turn" is a HUGE edge. If you can't get off on that, you might as well go flip burgers. The market is NEVER going to offer-up more than this!!

Classic "Price TA"... KISS, baby!

Good Morning Scataphagos,

I always love reading your post on ET forum and your simple of way of thinking practical trading methods.

Thank you for the great contribution.

 

[Scataphagos]

Quick update... notice Down Arrow (apparent) reversal. That occurred at a "bear pivot". Again, how long will it stick? I dunno. Up to the trader to play it or not.

 

[murray t turtle]

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Curved, moving aVerages\ work better for me

 

[Scataphagos]

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Curved, moving aVerages\ work better for me

Not better, just different.

 

[longandshort]

Good Morning Scataphagos,

I always love reading your post on ET forum and your simple of way of thinking practical trading methods.

Thank you for the great contribution.

Nope. Great in hindsight but not useful otherwise. You can use 250day and 20day sma’s to track momentum, but it’s not a great trading signal on a per stock basis.

 

[traider]

Nope. Great in hindsight but not useful otherwise. You can use 250day and 20day sma’s to track momentum, but it’s not a great trading signal on a per stock basis.

Is it good for anything?
Maybe indexes? Forex or commodities?

 

[longandshort]

Is it good for anything?
Maybe indexes? Forex or commodities?

Nah. Figure out what you want to trade (asset class/security) and then figure out the opportunity you’re trying to harvest (momentum? Value? Trend? Etc.), and then work on building signals specifically for that. Generic/catch all sort of indicators are more like broken clocks.

 

[murray t turtle]

Not better, just different.

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Different ;
+better for big trends. Short term trade\may lagg a bit LOL

 

[SimpleMeLike]

Nope. Great in hindsight but not useful otherwise. You can use 250day and 20day sma’s to track momentum, but it’s not a great trading signal on a per stock basis.

Hello longandshort,

Hindsight, blindsigh, asssight, dicksight, who cares about all that stuff. What Scat offered is free, logical and practical enough to make some money for the pocket. And what the heck else is out there to make money from besides Price TA. lol

Just click the chart man and make your best guess.

Full Disclaimer : I am currently a Losing Trader so far of about -$4,800 on the fiscal year of 2023. Let's see how the next 2 months go. My comments are not worth a penny with a hole in it because I am losing trader right now