IMO trendlines work since the big boys watch trendlines and take them seriously. Buying at a trendline is buying low in a fashion. Small risk for a possibly high commerce that is rewarding.
False fractures are everywhere but you will see that at any kind of support and resistance. In my view the best trades opportunities occur when several sorts of support/resistance line up(fibs, trendlines, historical support/resistance). But frankly, I am still not great enough in identifying sr but I'm convinced this is the best way to trade.