I agree with this post and this is why:
Trendlines itself don't work. You can't trade from subjective lines because everybody draws them differently and that reason alone should be enough to realise that if it is still profitable it must be something else that trendlines are forcing you to do.
This something else is that with using trendlines your forcing yourself to always trade with the trend (you must have 3 bottoms or tops to draw a trendline) + a retracement (to get at the trendline the price must retrace some) in this trend. This it what make trendlines 'work' in my opinion and why in reality they don't work at all but are still usefull (your getting me ).
I hope people still visit this post
Regards,
Neal
Trendlines itself don't work. You can't trade from subjective lines because everybody draws them differently and that reason alone should be enough to realise that if it is still profitable it must be something else that trendlines are forcing you to do.
This something else is that with using trendlines your forcing yourself to always trade with the trend (you must have 3 bottoms or tops to draw a trendline) + a retracement (to get at the trendline the price must retrace some) in this trend. This it what make trendlines 'work' in my opinion and why in reality they don't work at all but are still usefull (your getting me ).
I hope people still visit this post
Regards,
Neal