real time posting these two lines qualify in my book for usefule intraday information Again, how to play them is up to the trader. I personally will consider long above horizontal upper line of Resistance and the current intraday uptrend line may play as a short for me if I see price go to the line again, contract and then break through
What about trend arcs? (just kidding) I do think that much of the time when ones draws/sees a non-horizontal trendline one could have just used a horizontal one, for an indication of support/resistance. I suppose this is obvious. Making money is what's important anyway, regardless of an individual's technical skills. -Stephen
This would be an example of where a horizontal trendline would work quite well. However I must admit that the angled trendline is more accurate in this case. http://img160.imageshack.us/my.php?image=esu07kp3.png Since I'm here I have a question. Does anyone know the term for when a trendline (let's say horizontal support) is not quite hit OR is broken just slightly. (Then the instrument moves up once again.) I call is 'slop', but I'm only making that up. If one knows what is typical for the contract (etc.) one is looking at, itwould allow the trader to create trendlines of the proper thickness. 1 point, 2 points?? whatever. -Stephen