Do Trendlines work?

This chart shows buy and sell signals generated by two sets of parallel trendlines. Sometimes they work, sometime they don't. Wait and see whether the next sell signal will work or not.

 

Update:
Trenlines still hold.
No sell signal yet.

 

The support trendline was broken :eek: .The SPX can go up another 40 points as long as 02/13/08 high still hold.

 

Trenline-break down worth -200, -20, -40.
Now trendline-break up. Can it worth +350, +35, +70 points? Or just a false signal.

 

Trendlines do work sometimes.
A sell signal worth 500, 50, 100 points.

 

Other times they produce Bull and Bear Traps.
Hope the next buy signal, Trendline-break up, will not be a trap again.
But no fundamental support in sight.

 

Impending Trendline Break.
See for yourself if it works or not.

 

Two buy false signals.
Will the last one be a real one?

 

Will the last parallel trendline hold?

 

I disagree with the comment that trendlines are BS. I use trendlines as a critical part of my trade strategy and have for years. For the month of Feb, on 95 trades I had a 93% winning + break even trade ratio. Couldn't have done it with out trendlines. Just FYI.