Yo, trendline guys

[tradersaavy]

.......and here's a longer timeframe (90m) with important trendlines which may not come into play for a couple trading sessions (again, never say never)

 

[tradersaavy]

Quote from tradersaavy:

.....don't think I'll be shorting today (never say never) so I'll watch this all time high breakout on the long side.

All time high breakout is underway, where to take profit is the question. See attached chart. Is the blue line the measurement for how far this pattern should extend as a breakout ? 400'ish points ?

Let's see if the 2pm treasury budget meeting does anything to the market.

 

[stephenszpak]

A 4 period simple moving average on the YM
(in hindsight) shows a trendline that broke
and held. This was done on the closing prices
but the concept *may* also be valid with intraday
bars.

 

[Spectra]

Honestly. My best trades this week have been off of trend lines. So I really don't want to debate the issue much longer. Trend lines work. They are simple so people tend to throw them out the window. How could something so simple make you money? Well a well is pretty simple but yet its damn useful.

CajunSniper / Puretick.com Administrator-Trader

Quote from tradersaavy:

All time high breakout is underway, where to take profit is the question. See attached chart. Is the blue line the measurement for how far this pattern should extend as a breakout ? 400'ish points ?

Let's see if the 2pm treasury budget meeting does anything to the market.