Thanks Seagull, sorry for the delayed response, been packing for Overland track in Tassie, off on an adventure
Thanks for your insight into trend line placement, appreciate it, there's no denying trend lines play a large part in price action. I can see how these trend angles repeat and form channels, I have noticed these previously but never successfully developed a trading plan using them. The problem I had with them was once I'd marked them out I struggled know what any of it meant or why they reacted the way they do. I think reaction line is probably a good way to describe them as they do appear to create a reaction of some kind but not quite in the same way as horizontal support and resistance, price often breaks through them and even follows them above and below but due to their dynamic nature, if price were to follow them completely, infinity would be the ultimate outcome. A nice thought, and one the rampers take advantage of, but shows the obvious weakness of reliability as price becomes overextended. Trend lines do definately have a place inside price structure, however I think the missing pieces for me were some understanding of accumulation and distribution as these appear to me to be the cause of the price trending and the reasons for price being overextended in a trend can be found in the building of the cause, if you only put in $10 petrol your not going interstate.
I guess the question I was asking was if you find some starting points more reliable than others, and the more I think about it, i come to the opinion of, if it looks good to me, and I get a little ocd about line placement, it must look good to others watching as well, I'd just like to be across any "expert" understandings that I may be missing, and I'm sure there's plenty based on the number of "experts" lol.
Cheers Seagull and thanks for sharing your strategies
