Yo, trendline guys

Slop, false break, noise, etc. it all means the same thing:
Trendline or support resistance lines are "areas".
It is easy for technical observation or analytical observation to get too techy or analytical. Too precise.

 

Thanks for the terms.

Does one determine what the slop is on the
ES by looking at the last 10 instances and then
using the largest? Some other way?

-Stephen

 

tradersaavy

Since you look at the DOW, I found a graph
and put a couple trendlines on the closes.

Nothing new here really, trade well.

http://img101.imageshack.us/my.php?image=dowcw5.png

 

You should get used to ES over time. Get to know it. There will be times that volatility will be high and times that you should notice that it is very low. This can be intraday, with news announcements, or over long time periods where general volatility increases/decreases (even over summer where sometimes you see some volatility contraction.)

 

Thanks.

It's interesting. I've never really followed trend lines using close data.

 

FWIW

~ over top red line I'lll consider long
~ under lower red line I'll consider short

green lines are initial support/resistance

 

WELL, forget that previous chart ! Dow gapped over all the lines.
(it was a short timeframe)

However, don't think I'll be shorting today (never say never) so I'll watch this all time high breakout on the long side.