Trendline Help

Hi,

Is there any hard and fast rule for trendlines i.e./e.g If price penetrates the trendline and there is a new low, should the trendline be moved to accommodate the new low?

Thanks

No hard&fast rule. Do whatever works for you, just do it consistently. There is no holy grail.

Refer to the thread "Drawing correct support and resistant lines" .

Good stuff...with lots of examples and variations.

A book I read containing trend line info (can't remember if it was Pring or Elder or Murphy ) referred to trend lines as DYNAMIC areas of support/resistance.

Hi adtrade,

I use Tom De Mark trendlines and its basically joining swing highs with previous swing highs or swing lows with previous swing lows and as a new swing point appears draw in a new trendline.

cheers

Thanks all, for your help and input.

Must remember for a trend line to have an relevance it has to be obvious enough for everyone else to see it!

max

I read in TA 4 Dummies price should touch line 3 times, however using the Linear Regression tool in MetaTrader 4 can be useful if you are lazy...