Forex and trendlines

Discussion in 'Forex' started by ktrs, Dec 23, 2008.

  1. ktrs


    Looking at 1 year of EUR.USD I fail to see the usefulness of trendlines as a support / resistance gauge as I see no channels or clear technical patterns such as I see in stocks.

    It seems to me that trendlines in forex are at best arbitrary tools.

    If someone uses trendlines in their trading could you please post some examples of when they can be used reliably and purposefully.

    Thanks in advance.
  2. Scope25


    that is a good indicator but you should know not all indicators fit with traders. It is good trying to understand most of them but it is better if you try testing some, evaluate them and as a result set your own strategy fitting with your expectations and specially your skills. Scope
  3. Right, it is important that you try out the different indicators so you can choose the one that fits you the best, I usually use only 2 at the same time, and they usually are Bollingers Bands and William’s percent range. :D
  4. are you serious?
  5. [​IMG]
  6. PaulRon


  7. fxgator


    Has anyone used the Alligator indicator?

  8. ktrs


    Thanks for your contribution.

    I can see that sideways consolidation ranges are always amenable to trendline analysis.
  9. if you take your chart back to feb, 2008, there is an upward slopping trendline that was breached in august 2008 at around 1.55 eur/usd. You can see what has happend since then.

    So yes, they exist.
  10. zupcon


    seriously... get your eyes tested
    #10     Dec 28, 2008