xjo weekend zoomba lounge, page-30

Hi Ophir,

Following is a chart which shows three trend lines in red drawn from the May, 2011 high - I think the top-most one is the one you were asking for.

The previous two (in red) were also broken to the upside - but didn't prove conclusive as far as a change in trend from down to up. Perhaps the third one will.

Drawing trend lines is, like most things in Technical Analysis, subjective. Although, when drawn, they look objective.

If you can draw a trend line which has many points touching it - I think that provides a certain validity as to the strength of that trend line.

Hence you see the big blue oblique down trend line on my chart - it has ten touches or near touches since May 2011.

Most people draw trend lines from left to right. Fair enough. And I think that may be what you are suggesting should be done.

Sometimes it pays to draw them right to left - and see what happens. In the case of my original chart (and on the one above) you get that big blue oblique down trend line - with many touches (or near touches).

They're only guides - and subjective - choose your weapon. :)

Cheers
Redbacka