Do Trendlines work?

this was earlier today, no trendlines just the fibs

 

stopped right at the 61.8%

 

ym 5day 5 minute chart

 

no, only work 50% of time.

 

Rather than the usual parade of anecdotal mis-information, serious market students interested in geometric structures in financial markets might consider the rich literature available on trendlines and their subsets.

Here's a sampler:

1. "Methods of a Wall Street Master" by
Victor Sperandeo a/k/a Trader Vic

2. http://www.trading-naked.com/
alan_andrews_course_1.htm

3. "Trading With Medianlines" by Tim
Morge

4. Techniques of a Professional Commodity Chart Analyst - Arthur Sklarew

5. "Channel Surfing, Riding the Waves of Channels to Profitable Trading" by
Michael J. Parsons

6. http://www.techedgetrading.com/