Thread: Trendline Points Clarifiion

I realize this system has been crushed to death but after reading countless posts, I am still trying to figure out some of the finer details.

Instead of asking it I'm attaching a chart with teh query.

Anyone who understands this system, I would appreciate your help,

JH

http://www.lentrica.co.uk/images/fx/std/mouteki.gif

Have I drawn them correctly?

Im quite new in this mouteki. . However, I have successfully make some pips. . My way is. . first. . I would check different indiors what is the tendency for time period H4 and D1. . Make sure both exactly the same (way if uptrend. . Both reveals uptrend. . Vice versa - and yes. . It requires quite some time). .

Then I will draw my mouteki lines to project the goal. .

Only my two pips. . Any comments?

Ok, I know everything you are saying but couldn't I've done this?

Http://www.lentrica.co.uk/images/fx/std/mouteki2.gif

I mean, as there are many chances of connecting a variety of points, there might be several trendlines which fit the criteria.

The most recent one might be a crappy one such as the one shown here whereas the one before that might be an excellent looking setup such as that in my previous post.

Which one do we use? It seems a little subjective as to which points are 1 and 2.

JH

I'd say that none of these trendlines apply for a couple of reasons:

1. They were not drawn out of significant market swing points so they bear no significance when broken.

2. They only involve 2 price intersections. Everyone understands a line could be drawn between any 2 points. What makes it unique is if it is tested for a third (or longer ) time.

Phil, that might be true, but he's asking if these are Moteki or TDTL trend lines. . Under the rigorous definition of both of these, they are...

I agree under more typical definition of fashion lines they aren't.

This of course is explained in
Tom DeMark's publiion.

Originally Posted by ;

I would say that none of these trendlines submit an appliion for a couple of reasons:

1. They weren't drawn from significant market swing factors so they bear no significance when broken.

2. They just require 2 price intersections. Everybody knows a line can be drawn between any two points. What makes it unique is if it's analyzed for a third (or more) time.

ooops. I didn't notice this was ribbon specific. My poor.

No, my bad, I should have said what I had been talking about to start with...

Originally Posted by ;

ooops. I didn't notice that this was ribbon specific. My poor.

You might have done this, but it would not change the results. It's still an uptrend with a busted down fashion line. That is technically the most recent... You are right, in the event the second most right bar isn't higher than the right swing high point... In my view point on the graph, it looks like it is higher.

Originally Posted by ;

ok, I know what you are saying but couldn't I've done this?

Http://www.lentrica.co.uk/images/fx/std/mouteki2.gif

I mean, since there are lots of possibilities of connecting a variety of points, there might be many trendlines which match the criteria.

The most recent one might be a crappy one like the one displayed here whereas the one before that might be an excellent looking setup like that in my previous article.

Which do we use? It seems a little subjective as to which points are 1 and 2.

JH

To take the correct TL, use a momemtum indior...
Youl reduce your risk at precisely the exact same time...
TL by it self is not enought...

This is a really weak up trend if a trend in any way. On a more long term basis, it is more of a symetrical triangle pattern because the price consolidates demoning that neither the buyers nor the sellers have a clear leadership, and it is waiting for a breakout. However, if one has to determine whether the buyers/seller is stronger, the most recent price action shows the buyers are stronger than the sellers. Not really good risk/reward to rewarding a trade. IMHO