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justinh

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28/03/20

14:06

Post #: 43748846
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Originally posted by Jako8557: ↑

I am not so much a fan of oblique lines, I find them (much) less reliable, particularly over the longer timeframes.
I see the market as moving between levels, in the form of rooms being serviced by a lift (kinda).
I do use oblique lines when a can't find an obvious horizontal level that makes sense, and then remove them when they are no longer respected by the market, or relevant.
I find horizontal levels (with an element of fine tuning), keep being respected over extremely long time periods, but oblique levels - no so much...

Each to their own, this is what works best for me, it has been proven (to me) over an extended period, and is my style of analysis.

cheers

.

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I remember Tom Williams being a big fan in his VSA videos giving anecdotes about his old 5' ruler to draw oblique lines across large charts.
But a little confused over Dayton's position who seemed to use them a lot in certain videos, especially over short term moves but then dismissing their use in others....
Weis uses them a lot in his book and daily update reports.

XCL Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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