When I tried to draw the same trendline on VPHM's chart that 3sof drew on the VPHM chart showing that it had tested support, I couldn't draw the trendline because my chart wasn't the same as the 3sof chart. Then I unclicked "Logarithmic" and that fixed the problem and I was able to draw the same trendline that appeared here. Should I not be using Logarithmic charts? It sure does make a big difference in what you see sometimes!
Hi Snowgoose,
There is no specific rule about that...
I usually use normal charts, been doing that since 1997 in most of my TA's.
I only use semi-log scale, in some cases where it's completely impossible to do a normal TA on normal scale... But when I figure good and working patterns on a normal scale chart I just forget about the semi-log scale...
But there's a lot of controversial about this issue... For example, the semi-log chart gave a good exit signal on VPHM a few sessions ago... but the normal chart gave what seems to be a good entry point...
I'm sure there will be a lot of different opinions on this matter ;) It's a classic TA discussion... Applaud you for starting this subject !
best regards !
Ramsburg/elite, can you arrange them in order of the best technical indicators in your opinon top to bottom.
Bullish Engulfing
Piercing Line
Morning Star
Bullish Harami
Three White Soldiers
hey stocky
- my opinion is that they are all equally strong. I never trade on just one reason. So those japanese candlestick types are merely "1 reason" that hopefully I can combine with many other "reasons"..support, resistance, volume...
hey snowgoose
- i know what you're talking about. Before 3sof I used mainly logarithmic charts! Then I noticed most of the great chartists here using linear... and now I highly recommend it. Like Ramsburg said ;), for some pennies I have to use log to actually see the chart, lol, but otherwise its linear. I guess switching back and forth might be useful sometimes...hmmm