Want to know how to make money trading any market? Forget about patterns, techniques, indicators or any of the hype! You must become like water..... He should of been a trader! This what trading is all about! <iframe width="640" height="480" src="http://www.youtube.com/embed/h6SC58jaF2M" frameborder="0" allowfullscreen></iframe> There are no real patterns or indicators that work all of the time. True traders adapt to trends! Mad Dog 20/20 signing out.....
Trend is important but you need to catch it in the start and it does not take much time nowadays to see a trend shift. So the normal technique based upon support and resistance is the best.
Sometimes the difficulty is to comfirm whether a support and a resistence has been broken effectively, sometimes a line could be tested several times, which makes your trading complicated and you could lose money.
Yeah, trend lines sometimes work, so do MA's and Oscillators but every successful trader (success defines as 500K plus a year day trading) that I know don't use any charts, indicators or anything more then quotes. Just like water they adapt to all markets and no matter what changes they keep adapting.
This is my favorite bit of deep eastern wisdom: Be like the sun. http://www.youtube.com/watch?feature=player_embedded&v=W2yIkDVs0cA#t=126s