Are we gonna break out of this triangle up or down?

Discussion in 'Trading' started by 1a2b3cppp, Jul 12, 2012.


  1. Break out to the top

    7 vote(s)
  2. Break out to the bottom

    6 vote(s)
  3. You drew those lines wrong, idiot

    8 vote(s)
  4. I don't know

    4 vote(s)
  1. Here:

  2. If you go by the low of the 25th instead of the gaming trendline that you used I think we already did.

    Trendlines can be so subjective you know.
  3. gmst


  4. ammo


    july spy puts/calls say 132-135 for now
  5. What is a gaming trendline?

    Here I redrew it using the low of the 25th:

  6. OP,

    This is what I mean.

    How do we know its yours or mine, a matter of pivot selection.

    If we go by yours its unbroken, but then again you skipped previous ones.

    If we go by mine its broken.

    Too subjective.
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  7. May I post jh method annotation over your chart ?
    see attached.

    Just a different look.

    Please delete this post if you feel it is not what you want in this thread.
    Thank you very much if you leave it.
  8. Youre trying to predict with a trnedline that only has one touch with price?

  9. Not that I think price can be predicted, but hypothetically speaking...

    A trendline by definition has two touches.

    And if they last, they don't usually last past 3 touches.

    So at best it touches twice and then you can predict where it will go after it touches again (assuming price can be predicted with trendlines, that is).

    What's funny is when the scammy "gurus" post after the fact pics trying to say that you should have entered on the second touch... as if you already knew the trendline was going to be drawn there. lol.
  10. Yes.
    #10     Jul 12, 2012