I am starting this thread out of interest if anyone else has the same view as me... that trend lines don't work
I have over a while learned why trend lines do APPEAR to work 70-80% of the time.. but I have notice why they really don't.. and what is causing them to look like they work..
In any case I know everyones going to go "oh that newyear guys an idiot he doesn't think trend lines work" haha.. ok thats fine.. but I understand why they don't work.. I love seeing people using RSI when they don't understand why or how RSI works.. and same for every indicator.. here you go my friend.. its an indicator.. have fun using it when you don't know why or how its ploting (just an example)
Anyways I would love to see if anyone else out there sees the same things or if I'm the only crazy one
Well.. I am looking forward to seeing your responses
PS: I am mostly saying trend lines don't work because there is another reason all together why they appear to work.. in other words ploting a subjective line on a chart does not work but yes there is a reason it appears to work 80% throughout the line.. but then you need to redraw a new line to make it appear to work again ?
but most don't take the time to find out how or why things are appearing to be working.. if you did you could be drawing a much more accurate picture.. and know why when price breaks a "trend line" its doing it and such and could have foreseen it
maybe I'll post some charts latter to give more insight
I have over a while learned why trend lines do APPEAR to work 70-80% of the time.. but I have notice why they really don't.. and what is causing them to look like they work..
In any case I know everyones going to go "oh that newyear guys an idiot he doesn't think trend lines work" haha.. ok thats fine.. but I understand why they don't work.. I love seeing people using RSI when they don't understand why or how RSI works.. and same for every indicator.. here you go my friend.. its an indicator.. have fun using it when you don't know why or how its ploting (just an example)
Anyways I would love to see if anyone else out there sees the same things or if I'm the only crazy one
Well.. I am looking forward to seeing your responses
PS: I am mostly saying trend lines don't work because there is another reason all together why they appear to work.. in other words ploting a subjective line on a chart does not work but yes there is a reason it appears to work 80% throughout the line.. but then you need to redraw a new line to make it appear to work again ?
but most don't take the time to find out how or why things are appearing to be working.. if you did you could be drawing a much more accurate picture.. and know why when price breaks a "trend line" its doing it and such and could have foreseen it
maybe I'll post some charts latter to give more insight