Quote from PetaDollar:
The R is from last Thursday. There was a bit of volume traded in 13550-13600 then, and pretty much all this week the price was underneath. There was another dynamic taking place at the same time today-- breaking out above Tues & Weds high. Even with the relatively large amount of trading activity today, the advance got nowhere.
It is just a coincidence that the trendline ran into this area today. The masses make trades based on prices, not trendlines.
I would agree that the masses and computers trade off price but thats what your drawing your trendlines on price, your looking at price to see where guys will sell and buy and if you look with your head tilted a little trendlines are just angled support and resistance lines running with price, its all about price but I believe the lines help to see what price will be the area to make a good trade, the more times a price area is touched the more weight you have to give it
as far as coincedence it happens to often to be coincedence
but everybody trades their own way, it works for me