I want to trade with the trend, My big problem is definition of the trend. Attached is the trend line that I drew this morning at 10:30 (the second green bar hitting 1415) Questions: 1. When does one redraw the trendline? I saw the breakout below my trend line at 11:30 but wasn't sure what to do until I saw it crashing 45 min later. I need to know how to determine a change in the trend. 2. Should I be using another indicator MACD, EMA etc. to determine the change in trend? ***Thanks to all of you that answer the question at the begining of this post. *** I think they have a special bashing Jack Hershey thread somewhere else on ET. Please keep all posts on this thread to the subject.
I think you need to learn how to use other indicators besided candlesticks and volume. MACD, Moving averages, bollinger bands, etc...Then you can decide a good move.