daytraders after market lounge 19th august 201

Good Afternoon all :-)

Was around off and on today but nothing to report. Had some fun doing tax requirements. No too hard to turn over a bit of money gross sales and gross buys :-)

Approx ending
XAO: - 2.20
XJO: - 1.40
DJIA: 15051.00 + 13.00
Russell 2000: 1020.70 - 0.30
http://finviz.com/futures.ashx


Some radiohead to help the readings :-)

Trend Lines

A trend line (shortened to "trendline" elsewhere on this website) is simply a momentum indicator. It measures the rate of increase in the share price over time and alerts you to any acceleration or deceleration of the trend. The difference between trendlines and other momentum indicators is that you use a super-computer (the human brain) to visually identify the trend, rather than a simplistic formula calculated on your PC


Trend Line Basics

1. Draw trendlines through the lows of an up-trend — and through the highs of a down-trend;
2. On long-term charts, draw trendlines through closing prices;
3. Use either normal or log scale charts but be aware of their respective weaknesses;
4. Trendlines must be respected by at least three lows (or highs in a down-trend) — if respected twice, the trendline is not yet confirmed;
5. Trendlines should not intersect (cut across) price at any point on the chart if extended.

Plenty more and even a test :-)

Summary

Draw trendlines through the lows in an up-trend and through the highs in a down-trend. Use closing price for longer-term charts (more than 6 months). Use normal scale for short and medium-term charts. Use either normal or log scale for long-term charts but beware of their weaknesses.

Valid trendlines must be respected by at least 3 troughs in an up-trend (or 3 peaks in a down-trend) and should not intersect the closing price line if extended in either direction. Use trendlines as a momentum indicator for short-term trades but only as an alert on long-term trades. They are also an effective exit tool for blow-offs.

Don't waste time drawing trendlines on every chart. They are time-consuming and should only be drawn on a handful of selected stocks.


Source: Trend Lines Incredible chart








Have a good one
Trees