Quote from Mysteron:
In the placement of the horizontal lines, is the idea that recent levels tend to form in roughly equal price bands, possibly revealing the buying and selling campaign of the major players over a period of time. TE used to draw levels on charts and also diagonal lines that looked like measured moves but there was no explanation as I recall. Trend lines were never drawn however. I notice that RN drew trend lines recently and I also draw them as it would seem foolish to ignore such obvious features. I've looked at various discussions about trend lines but I've never really been convinced that they are valid or represent anything real, maybe they are just artifacts of the way we think in that we tend to assign significance to linear features. In fact I suspect that if the time scale was transformed in some nonlinear way then the existing trend lines would vanish and new ones would possibly appear. I'd like to know if you have any belief in using trend lines or not.
On another note, I just read the MATRIX thread and was none the wiser what it was about - a cube with diagonals opposing in direction for opposite faces, but then I've never studied GANN. It was interesting to read what elite34s was saying, especially how it was being said. Certain characteristic phrases and combinations of words were already familiar to me - small world isn't it!
