Question about Trendline trading

Hey all,

I was hoping to get some advice and guidance on trend trading with price action. Sorry if some questions are obvious. I am still learning and want to make sure I am looking in the right spot.

1. How can I calculate the current price with historical price and comparing them.Where do I find the right numbers on a chart. How far do I really need to go back. Is it possible to compare a few days apart. I have been watching charts and setting S/R lines where I think it may turn. I am trying to figure out good levels. I have also been using RENKO which I feel gives good S/R indicators . Would you recommend MACD. I would appreciate and advice or help. Thank you

 

No substantial edge to defeat slippage, comm and human errors but many will try to convince you otherwise.

 

If you are beginning trader, try using regular bar charts and use weekly bars, unless you are fully education in chart reading, indicators will make it worse, indicators should only be used after you are profitable with charting, can use like a simple 20 sma, remember that slow is better than fast. Those who use fast moving averages get many more false signals. Use no greater than 2% protective stops, great trades take off immediately. And learn about using options.

 

Thanks for the information

 

IBD 50 dma , 200 dma help For example NOT many buy below 200 dma;
unless its buy to cover a short................................................ IBD[investors.com] today had an average move like this about 10.3%, 30 day move[most likely on SPY, big banks blew thru that[10.3%] in about 1.3 days,LOL....................].Wisdom is profitable to direct.

 

Friending the trend is just another strategy. It doesn't work for everybody.

 

I really hate responding to new nicks, but I'll go the yard here, First, listen to handle. Second use trendlines when scalping on a very short timeframe, or a very LONG timeframe. Read all you can on false breakouts, then get back to us.

 

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis
http://stockcharts.com/school/doku.php?id=chart_school:overview:technical_analysis
http://www.investopedia.com/university/technical/
https://www.google.com

 

Thanks for the reply and guidance