i don't understand. they work great for some time, and then one sunny day they suddenly in a flash stop working and never ever work again? like my $100 digicam? or is it gradual, day by day they work less and less? like my friend's relationship? or, like any other truth in nature, they simply have probability. if they have high probability then it's a good tool. also don't forget that a trendline by its nature gets tested a few times and then breaks (rather then 'stops working').
============= Yes some use trendlines like a damaged short yardstick, the consistancy may help some, if used consistantly; but to make a long story short its still a crooked yardstick. Those who dont like moving averages [ma=a form of trendline]; actually have a partial point of not liking a ma in a sideways trend, like QQQQ & tek related are lately.[from friday] However still like a ma occasionaly; besides QQQQ & tek related are also in mostly medium & long term polar bear trends as confirmed by accurate trendlines
Very true, but if you want to know WHEN reversal ( bounce ) will most likely happen, you must employ a bit more complex methods.
Trend lines is a very good tool to explain WHAT HAS HAPPENED and it is a very poor tool to predict WHAT IS GOING TO HAPPEN No matter how much you hate this statement it will always remain true.
Personally I think that we have had enough of Discussions regarding as to whether Trendlines work or not. (As of now, its 25 Pages). Instead, could we start discussing as to the correct and in-correct ways of drawing Trendlines. Of course, non - believers can move onto new threads . Cheers
Hi, Is the humble advice from an grandfather, see always where pass a trendline, if not you will crash with them. Salut