Do Trendlines work?

Trend Lines work as well as the yellow lines encompassing the white lines on a highway. They look nice but are worthless by themselves. If you can't see price trending on a price chart you are in the wrong field to make money.

 

Not to be a jerk but was that your idea of a contribution?

 

LOL! That's one of the funniest metaphors I have read on ET. Its a "keeper".

 

Id hate to be driving on a highway that didnt have those lines.

 

Egal. Thanks. I find that the greatest boon to my trading is my sexual perversity. When I watch my one second and one minute charts evolve, at critical points I involuntarily dry out "Wooo Hooo!" The market is one big screwing on all time frames. How could it be otherwise? I like what Jack calls "rockets" the best of all. "Ah jist ain't take another one!" "Oh, yes, you can!" Mike.

 

OK, Merchant u get some brownie points for this insanely perverse system. Alas, you failed to mentioned anything about stoploss? :eek:

:eek: :eek:

 

Trendline for breakout

Trendline for profit target


See attached YM 5m chart

 

Will one of you guys tell me if Ive got the 123 pts correct here?

 

TS-- I had a very similar trade today, except my entry was a buy stop at 31 since if you look back over the past week the R was up to 30.

Pete

 

Continuing in the spirit of Lefty's gracious teachings.

More like pivots although an am through lunch horizontal channel developed.