I see some threads relating to trendlines, but can’t help feel they are misleading as to their effectiveness.
In order to determine a trendline, you need at least 2 points of interest, usually peaks and troughs,
But, as time elapses, these trendlines can be broken, and new ones established.
Using the chart uploaded as a guide, I have marked a yellow box starting point, and 3 possible trendlines.
My main point is, the beginning of the trendline is NOT at the yellow box, but at the red/blue/green horizontal lines (troughs).
The trader may end up with a misleading belief that he/she could have trade from the yellow box, as the eye is drawn along the lines, but in truth at the horizontal lines, as the trader could not have known the relevance of the line until the trendline is drawn.
Isnt this no different from lagging indicators?
Just a discussion point, as I have never been able to trade trendlines, as I can’t work out whether to draw a new trendline, or treat the break as a reversal event.