Trend lines overrated?....

[Swan Noir]

RN,

An example of a "right one" and of a wrong one on the same chart would add real value to this discussion. Most successful traders (maybe 80 or 90%) use trend lines and believe they have value. Yet, as you say, the right ones are money and the rest are useless. I might say even dangerous.

Quote from Redneck:

I pissed on your volume post – so here’s an olive branch….



I have tradable trend lines which have been in place since Mar 16, 2009

They are as relative today – as when they were first drawn


Draw the right ones – they’re money

Draw the ones you want – they’re useless


RN

 

[speres]

this one worked a treat

 

[speres]

current cable

 

[speres]

Quote from focusonmoney:

Are trend lines overrated? I'm not saying they don't work, but if you asked 5 traders to draw a trend line all of them will draw them different.. And usually the perfect trend lines are drawn after the trend is made.. I'm just saying..

They do have value because they are useable, but your right they are only a part of the structure

 

[vinc]

Quote from speres:

this one worked a treat

Markus De Hindsightus

borrowed the name from:

http://www.priceactionlab.com/Blog/2013/09/the-master-and-his-disciples/

the other one - Ruinus Capitalus , also not bad

 

[Aitch Ef Tee]

Quote from speres:

this one worked a treat

That bounce off 131.20 had nothing to do with a trendline and everything to do with the downward move that kicked off from 131.20 just after 12:00.

 

[speres]

Quote from Aitch Ef Tee:

That bounce off 131.20 had nothing to do with a trendline and everything to do with the downward move that kicked off from 131.20 just after 12:00.

post a chart and show me pls point out anything you think relevent,im always keen to learn something

there was actually a few things going on there and the tl was only part of it

would you have taken a long there just based on that area you pointed out to the left?

 

[FDate_Trader]

The comments made here about trend lines are for the most part valid. Not everyone is going to draw them the same way.

However, that's fine. You really do not want everyone doing and seeing the same thing anyway, do you?

With practice you will find that the humble trend line can be one of your most important tools. It helps you simplify the view of the chart, highlight the support and resistance levels based on prior tops and bottoms, and gives you great breakout indications.

I have used trend lines for my charting analysis for over two decades. While I have other indicators, trend lines are still used as they have always provided me with good reference points to watch.

It is easy to take trend lines for granted because they are so simple. Most like complicated methods which I consider a detriment.

Practice drawing trend lines based on how YOU see the chart patterns and soon you'll be able to recognize all kinds of valuable information coming from your charts using this drawing method.