Do Trendlines work?

this is the 17.50s 30 times your cash

they were .05 now 1.50

 

a bullish engulfing candle with a hammer test to flush out the stops

 

Intraday trendlines on USD/JPY.

 

Looks good.
Might be a little easier to read the trendlines without the Fib lines on there too.
Thanks for posting.

 

Sticking with the theme "do trendlines "work" "


here's taking profits with trendline (attached chart)

 

Could someone on earth explain to me what the !@!?@ is On Balance Volume doing on a cash fx chart ???

 

It’s my understanding that the OBV in forex is only a relative measurement (that which is traded between banks only).It does not measure the true volume which you find in stocks.

Here is a nice trendline on a daily GBP chart.

 

boy. OBV will tell you nothing in cash markets. In futures, maybe .... Even that is debatable. But cash.. forget it.

I think you can use momentum studies better...

My 2 cents:

Neither trendlines, nor MACD or any other indicator for that matter or study actually "WORK".

You can't say it works, because a study is a study. It does not do anything for the market.

You use the study to reveal certain market characteristics.

What works is you method for managing opportunities when the are there, as identified by your trendlines, MACD, or whatever....

 

yesterdays chart