Jalarupa wrote:MightyOne wrote:For our more advanced friends who use TA:
You will find that a chart is nothing more than triangles and breakouts & that triangles are nothing more than two channels that cannot agree on direction.
Use the simplest thing that works:
If you just want to reach the extreme then forget about the price action.
If you want to time your trades then bodies & wicks are enough.
If you see a triangle and it helps you plan your trades then use it, but if a particular triangle is only confusing you then don't use it on this trade.
My problem is, I struggle to establish which lines are important... largely due to an overall lack of understanding... So I'm going to try and abide by your TA mantra; "Lines don't matter so much as understanding the PA"
SO PA moves between 2 opposing channels and sometimes Breaks Out of those channels to discover channel resistance on larger channels...
Jalarupa, how you trade that lines?
Some time ago I was thinking how to play using the trend line but I did not invent anything meaningful.