Forum Archive Index - February 2003

[Phaedrus <Phaedrus@techemail.com>]

Bill,
      You would have initially used the low point you have mentioned (A) and 
point (B) to draw a tentative trendline. After 3 - 4 months, this line had not 
been confirmed, and price action had accelerated away from it. At this stage, 
you have two options. (1) Create a new, steeper, more immediately relevant 
trendline by linking points B and C.
(2) Stay with the existing AB trendline. Less active traders might choose to 
take this option. The tentative AB trendline was confirmed at point D, and 
anyone using this trendline would still be holding. Use of the ABD trendline 
simply moves you into a longer timeframe, that's all. 
     Regards,
               Phaedrus. 

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