Nomans Land?

[RUDEBOY]

Is there a set way of line drawing for any time frame? Do people make thier own lines up? How do people cope in between lines? Lines matter! Are you drawing the right ones?

 

[JTrader]

Hi RUDEBOY

are you talking about trend lines and fibonnaci retracement lines?

A trendline is a sloping line that is drawn between 2 or more prominent points on a chart. Rising trends are defined by a trendline that is drawn between two or more troughs (low points) to identify price support. Falling trends are defined by a trendline drawn between two or more peaks (high points) to identify price resistance.

Fibonnaci retracements lines are displayed by drawing a trendline between two extreme points. For example, a trough and an opposing peak. A series of 9 horizantal lines are added to the chart intersecting the trendline at the various fibonnacci levels. Although many charting applications will only display the 38.2%, 50.0% and 61.8% retracement levels on the chart.

HTH

jtrader.

 

[RUDEBOY]

Trends not fibs. It's not a very good thread this one, what made me put it on in the first place is that i have seen some very dubious lines and comments about them. I just wondered if people ever thought thier lines may be wrong. Cheers, Rude.