The Calhoun Sharpest Angle Trend Line Concept

This is a discussion on The Calhoun Sharpest Angle Trend Line Concept within the Technical Analysis forums, part of the Methods category; This question was sent to me from one of our students: Hey Joe! Have you ever heard of the “Calhoun ...

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Old May 2, 2007, 6:59pm   #1
 
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The Calhoun Sharpest Angle Trend Line Concept

This question was sent to me from one of our students: Hey Joe! Have you ever heard of the “Calhoun Sharpest Angle Trend Line Concept?”

Yep! I sure have. The Calhoun Sharpest Angle Trend Line Concept- constructs initial trend lines at the sharpest angle possible, so they must be broken as rapidly as possible to the downside. This trend line usually will be the low of the lowest bar connected to the close of the bar after it. Continue to create new lower angled support trend lines as old ones are broken, from the same price bar low and to new closes that violated the previous trend line. When a trend line exists for five or more days, it is a short term trend line, three or more weeks, intermediate term, or three or more months, a major trend line. After the initial Sharpest¬ Angled Trend Line, SATL is broken, the second trend line may connect the lowest low to the next lowest low. Eventually, longer trends may contain three or more reaction lows. When this trend is broken with two consecutive closes, look left! Find the previous two bar correction low for a price objective. Consider exiting and reversing the second consecutive close below a three-week minimum support trend line, if the major trend is bearish.

If this seems somewhat familiar to you, then you are recognizing something very close to the True Trend Method I was taught almost ½ century ago.
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