Breaking Of A Trend Line
By LawrencePart of Art of Chart Reading
Once a trend line is broken in the opposite direction, it signals the potential start of a new trend. To be able to utilize the setup, you need to know the projected target of the trend line break. Classic trend line break projection and modernize concepts do not work the same way. I will explain how both methods work below.
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Comments
Just for fun I applied your modernized trend line break projection to todays 5 min chart. How about that. It targeted to the tick the excursion of the break. http://screencast.com/t/oxINgkIgcU
awesome