PTT - I did some extensive testing on entries via trendlines I drew, in real time, and found that these entries beat random entries. These were all on tick charts though (longer time frame tick charts, like 500 or 700). But to do it right, you should read DB's journal "Price and Volume" and make sure your trend lines are relevent to supply and demand.
Also, the trendline entry is just that.. an entry with a slight edge.. whether you can make it into a profitiable technique depends on how you manage your trades and exit.
It's more of a confirmation thing... with something like stochastics, you'd have an entry well before the trend break. Therefore, if the trendline holds.. you'd still be profitable. If it does break and the lemmings pile in, even better.