Hi, And more important is which the trendlines are business opportunities, small stop and big benefits. Salut
All I know is that my brother has been killing it using tredlines. So when I saw the gap open to the hourly downtrendlines I shorted this morning.
Clearly, you mean to say that your words apply to you and your mind and situation. For me, I draw trend channel lines as a simple future boundary. They are draw at the first possible opportunity (three points determine a channel) and they are constantly observed as the price trend channel and the corresponding volume trend channel scope and bound making money. since channels overlap, I nkow the formation of the next channel within the end of the existing channel ending. It is not possible to use T/A for you if you abide and act upon the believe you espouse. There is little value in drawing historical channels; there is extreme value in drawing current channels and even greater value in drawing the future channel that is emerging during the overlap of the ending of a fulfilled channel. Read my comments as equally applying to both the price and volume. For the most part, it is impossible for the majority of people who have contructed your view in their minds to be able to ever conquer repairing the deep damage that has transpired and been, unfortunately, irrationally reinforced. You can think if the implications and inferences of the difficulty you live with. It is like a domino effect for the deprivation that you create for yourself. When you read opinions such as mine, you see I am speaking of what is true for me. Your post, for some reason, projects a viewpoint of what is good for everyone and what is really true. In fact, the truth of trading is that at all times the market is scoped and bounded by its operating condition. For me that operating condition migrates from one place to another and it never jumps around (with consideration to the measures that I monitor).
Hi everyone, Channels work ok, simply bcse most people draw them (in non logarythmic scales). Self fulfilment prophecy we call that... People who trade "naked" just use that, some are pretty succesfull traders
Are you telling me that when a trend line is broken then you have a better than 50/50 chance for the price to continue in its current direction?
Not at all. Breaking a trend line occurs long aftr the trend is over.... a trendline is the inactive side of a channel drawn by creating the active line parallel to the trendline and on the left side. the left side of a channel is at play long before its other line on the right comes into play. Channels move in three ways: up, down and laterally. How could 50/50 come into play when there are three things??? One out of three is a losing proposition if you use the right side of the channel. The profit taking side of a channel is the left side. thinkof latral channels as having two left sides; this is a money making viewpoint I have.