these trend lines are Soooooo subjective. Move the angle a bit here and there and wow you have multi year break outs... "support becomes resistance until it's broke..." Blah,blah,blah.. Looks random to me. Like all T.A. buy them all let the winners ride and cut the losers. But you have no "edge here at all"
Thanks for your input and critical analysis. I did state from the start of this thread not to worry about being wrong or right, but to just throw it out there and let us sort it out. We are all under the understanding that most chart patterns and breakout formations do fail. However, with a proper system of risk management and a certain level of experience, a trader will be able to navigate through failed patterns and breakouts. No one is bragging about having an edge. The purpose of this thread is to find ideas. I fully expect that the charts displayed might be wrong. So please stand aside and do not heckle. Im a real trader with real brokerage slips and Im trying to get some work done. If you get in the way of my work, then I will file a lawsuit with one of the unemployed attorneys in my area. Here is 3 grand Mr. Attorney, get to it and make sure you have the summons and complaint in that guy's hand by next week. Please do not disturb this thread as you are bringing damage upon my business and livelihood. If I see trolls in here getting in my way, then I will get in your way. Thats not a threat, but a promise. Everyone else reading this thread, please feel free to post your charts in this thread. Do not be bashful. Throw them up and we will sort them out. I have quite a few charts that Im working on right now before my day begins.
Quote from retaildaytrader: If you get in the way of my work, then I will file a lawsuit with one of the unemployed attorneys in my area. That is a very empty threat. This is not your forum and you have no claim against others who wish to comment. And there is nothing in the law to support you - lawyers would laugh you out of their office with a lawsuit threat. Please do not disturb this thread as you are bringing damage upon my business and livelihood. You are not allowed to operate a business on ET UNLESS you are a sponsor. So this best not be your business or livelihood. it is not your website and you have no claim to anything. Any thread may be commented or rebutted by ANY member here. And I odn't see "Moderator" under your name, so you have no control unless people get abusive (threaten bodily harm, attack your race/religion/etc.) If I see trolls in here getting in my way, then I will get in your way. Thats not a threat, but a promise. Cannot wait to see what you charge the person with. It is certainly not a criminal offense, and the commentary here is protected by free speech. And again, this is neither your business nor livelihood. It is a trading forum. Only. If you continue threatening people, I will turn this thread over to the moderators, requesting removal of you and your posts. Your attitude does not belong here.
the problem is that there is no stop or exit..no statistical proof that all those lines are working. ok..you got into a "multi year breakout" -now what? how many winners or losers you got from those setups? is there any statistical evidence that they do work? once again-if you have statistically losing "system", risk management not going to help you. your attitude to fellow ET members not going to help you either.
of course, it depends on the year of the breakout, who is President (black or white?) and 'el niño' effect on the Pacific from the previous year....etc....
Well trolling and a pretty bad poor mannered response aside, I likewise work from technical set ups like these. I dont have time right to post the chart, but I have been looking at JJC and JNJ as possible breakout candidates that are coiling in a fairly tight consolidation zone.
Retail Day Trader My compliments on posting quantative data and your observations. When I joined ET I thought this is what the site would be like I learned the hard way that 90% of the posts here are pointless rants that have very little to do with anything I notice with interest your continuing posts elicit very little in the way of constructive dialog from any of the purported 'serious' traders here too bad by my hat is off to you anyway!
PS - this is the point where someone on ET usually issues the following rebuttal: Read the ES Journal or Read the AHG thread read em both what about the other 96,000 useless threads here? heheheheh
Sorry if my sarcastic observation was seen as a insult to the OP's posts. What I meant to say is that my experience with this type of analysis ,as 'been there, done that', taught me it doesn't work in the end and is a great waste of time. If was for me, but it might not be for others, so I digress here, good luck.