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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: John K who wrote (499)3/20/1997 9:31:00 AM
From: SteelBlueIce   of 3325
 
Hi John,

Agree that it takes a number of validations to establish the trendline, but after a while, if it still keeps testing the line it will break it.

Thank you for adding that, it's a very important point.

According to Elder and Murphy, you need 2 or 3 'landings' for a trendline to form and it's good for a few more before it's 'power' starts to diminish.

Regards,
Jerry
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