I can't give a link beyond that I have seen slant lines used in some of Bulkowski's charts. On a log scale, they are lines of constant rate of change. What I have noticed is that lots of charts have preferred rates of change regardless of where the price level actually is.
On a log scale, you can draw parallel lines that are roughly equal spaced that interact with hammers, tops, bottoms, and gaps. After drawing these lines, it is amazing how often they are valid in future price action.
Here is another one I drew this morning when it was a hammer on the two bottom lines. As the price went up today, there were significant pauses at the other lines.
stockcharts.com[w,a]dhclyiay[dc][pd20,2!b20!b50!b200!f][vc60][iut!lb5!lh14,3!la12,26,9!ll14][J26704173,Y]&listNum=75 |
