{"id":569,"date":"2008-07-14T09:02:49","date_gmt":"2008-07-14T13:02:49","guid":{"rendered":"http:\/\/club.ino.com:80\/trading\/?p=569"},"modified":"2010-02-19T17:35:09","modified_gmt":"2010-02-19T21:35:09","slug":"this-often-overlooked-technical-indicator-is-a-winner","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2008\/07\/this-often-overlooked-technical-indicator-is-a-winner\/","title":{"rendered":"Traders Toolbox: This often overlooked technical indicator is a winner"},"content":{"rendered":"<h2 style=\"text-align: center;\">Parallel trendlines<\/h2>\n<p><a href=\"http:\/\/club.ino.com:80\/trading\/wp-content\/uploads\/2008\/06\/tradetools.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-459\" title=\"tradetools\" src=\"\/\/club.ino.com:80\/trading\/wp-content\/uploads\/2008\/06\/tradetools.jpg\" alt=\"\" width=\"136\" height=\"102\" \/><\/a>I am constantly amazed that some of the simplest tools available to technical analysts are often the most effective. One of these simple tools is parallel trendlines. I have used them to identify planes of support and resistance on the charts.<\/p>\n<p>At times, these parallel trendlines will form channels. Commonly, a market will stay within a bounded channel for a sub- stantial period of time. However, these trendlines are not limited to channels of equal width. The weekly corn chart reveals a market which has followed the same angle, or plane, of movement for much of the past three years, but within channels of various widths.<\/p>\n<p><a href=\"http:\/\/club.ino.com\/trading\/wp-content\/uploads\/2008\/07\/weekly-corn.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-570\" title=\"weekly-corn\" src=\"\/\/club.ino.com\/trading\/wp-content\/uploads\/2008\/07\/weekly-corn.gif\" alt=\"\" width=\"500\" height=\"555\" srcset=\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2008\/07\/weekly-corn.gif 500w, https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2008\/07\/weekly-corn-270x300.gif 270w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>There are three primary applications of this tool which are very useful. The first is to expect a market to respect existing parallel boundaries of support and resistance. Second is to expect a significant change in market action when a boundary is significantly violated. And third is to expect the market to eventually resume trading on a parallel plane at a new level. The weekly corn chart is a good example of all three applications.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Parallel trendlines I am constantly amazed that some of the simplest tools available to technical analysts are often the most effective. One of these simple tools is parallel trendlines. I have used them to identify planes of support and resistance on the charts. At times, these parallel trendlines will form channels. Commonly, a market will [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3027,3025,3026,96,24,327],"class_list":["post-569","post","type-post","status-publish","format-standard","hentry","category-trading-tips","tag-bounded-channel","tag-parallel-trendlines","tag-parallel-trendlines-form-channels","tag-traders-toolbox","tag-trading","tag-trading-tips-techniques"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Traders Toolbox: This often overlooked technical indicator is a winner - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2008\/07\/this-often-overlooked-technical-indicator-is-a-winner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Toolbox: This often overlooked technical indicator is a winner - INO.com Trader&#039;s Blog\" \/>\n<meta property=\"og:description\" content=\"Parallel trendlines I am constantly amazed that some of the simplest tools available to technical analysts are often the most effective. One of these simple tools is parallel trendlines. I have used them to identify planes of support and resistance on the charts. At times, these parallel trendlines will form channels. 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