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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 679.68+0.7%Nov 26 4:00 PM EST
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To: Saulamanca who wrote (58881)9/11/2000 10:53:55 PM
From: eddieww  Read Replies (1) of 99985
 
"...when you get such long tails it shows strong support. So using the lows is the right way to draw the trendline.imo"

I'm pretty much a piker at TA, but I've read many places that a valid trendline should consist of at least 3 data points. The chart you posted had only 2 but the modification I suggested had three. Wouldn't that be better?
(I'm not trying to be combative here in any way, just trying to learn) :^)

I wish there were an indicator for "average price paid" where you would multiply the number of shares traded at each price traded, then divide by total shares traded. Maybe there is such a thing, but I just don't know about it?
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