I use trend lines for supporting evidence . There has to be another reason, that that line is significant - meaning where it is positioned in a bigger time frame, whether it is oversold , what has gone on in relation to prior buying behavior , or your other indicators are turning up. For me those other indicators tell me where to draw the lines , and whether to pay attention to wicks or not. I always assume that my other indicators are more accurate. I start my assessment with the other indicators , and complete my assessment with trendlines . You learn heaps about trend lines that way - because trendlines are incredibly consistent (almost magical) , when they have a solid mathematical reason to exist . I love playing around with trend lines, because when you get better at them , they provide an additional confirmation to your other signals, boosting your confidence , I would not just do trendlines by themselves though. You have to know that the break of that particular trend line - is likely to be a bull run , rather than a bull trap. I have not found a quick way to learn this unfortunately.
