Do Trendlines work?

OS rox boyz. OS rox.

lj

 

here's the updated chart from a couple entries above

It was a scalp

 

Now the BIG trade could be dow going under 12110

I'll post a pic soon.

 

Larger picture

 

This trade just triggered.

We'll see what happens.

 

The problem with trendlines is the same problem that you can have with any charting indicator. All chart indicators are lagging none of them are leading. They only confirm what has already happened, not what will happen next. An indicator may suggest a potential momentum or possible support and resistance, but the fact is is anything can happen next regardless of what the inidcator is indicating.

To clarify, I'm not saying I dont use indicators at all. I do use them. Im just saying they are suggestive at best.

 

Yes, anything can happen at any time. Any market, any stock, any instrument.

and THAT is why we use lines, stochs, candles, etc
To help us find something we've seen before and help with the odds.

 

That trade faltered quickly.

And , may be forming a new one at intraday downtrendline.

 

have never seem one positive comment from rcanfiel. I think he is a shill from ET to foment discussion.