Joules,Thought I should respond to your post given that I was...

Joules,

Thought I should respond to your post given that I was the individual that authored the original post, that being an interpretation of the multi year Gold chart. I had hoped that it would be used for intelligent feedback and discussion, and was somewhat flattered that quite a few folk seemed to like it.

Now IMO you made some very valid points against using trend lines as a sole indicator so well done, and I for one agree in that I don't believe that any indicator on it's own should be relied upon when risking one's hard earned capital.

But then you go on to say

'trading a trendline is one of the dumbest trade ideas i have ever seen, but, if you get the technique correct then you can def gleen an income.....'

I am perplexed by the above Joules, as IMO you seem to throw this comment in as a form of insurance i.e. in case the rest of your argument is found to be inadvertently flawed.
So let's dissect what you've stated. You're saying that trading a trend line is a dumb idea, but if you get the technique right you can definitely 'gleen' an income....

Let's look at the word gleen for a moment Joules. It means to glisten or to reflect light. Another meaning is 'gleam' which in turn means a 'glimpse' or 'hint'. I don't believe this is what you meant however.

Glean (correctly spelt?) on the hand means to gather (sometimes slowly or bit by bit), reap, or to gather what is left by the reapers.
Assuming this is what you meant, then effectively you're saying that trading is a dumb idea but.. oh hang on a minute, it might not be if you're technique is good in which case you can still reap an income....wtf ??

Joules, IMO you're confusing yourself with all your trend line analysis so let me provide an explanation of a trend line in layman's terms. i.e you don't need multiple paragraphs to explain this amazing phenomenon. Here it goes.....

A TRENDLINE EITHER HOLDS OR IT BREAKS.

Yes, it's that simple Joules :-)
You're either RIGHT and you make money or you're WRONG and you lose money. Make sense now?

Secondly, I found it interesting that your argument focused on only one aspect of the chart, that being the long term trend line. There was no mention of the similarity of the 5 wave counts (Elliot or otherwise) that I provided nor the current double bottom in Gold that 'every mutt and his handler knows about'.

Did you takes these points and the many other TA indicators (and FA analysis) available into consideration when analysing the long term trend line?
Or shall I look forward to a part two of your 'flawed indicator' documentary special?

Finally, your comment 'I think that of the 44 thumbs up for the opening post, most will get toasted.....not by the person on the other side of the trade but by the size of your holding.....'

Really Joules... so do you have a crystal ball that calculates the size of one's net long position after a thumbs up? Wow, you are da man indeed.

To all new traders, IMO those sorts of statements (on any forum) when you see them deserve to be questioned, if not dissected and set alight at every opportunity, such is their absurdity.

Cheers and very best regards
Elpha

Note: my opinion should not be relied upon nor considered as advice of any kind. DYOR.