Trendline

I have learnt this from one of the price action trader, Lance Begs.Its really a good concept about trend line.  

Characteristics of Trend line 

-Direction

An indicator of trend and also an indicator of sentiment

-Angle of Slope

• A steep slope represents more intense sentiment. A shallow slope represents weaker sentiment.
• A steep slope is generally considered unsustainable. A break of a steeper trend line should see price return to the more shallow trend line. 

-Length

• A longer trend line is regarded as more significant and therefore more reliable than shorter trend line.
• A break of longer trend line is considered as more significant event

-Number of touches

• The more times price touches a trend line, the more the trend line is regarded as significant and reliable.
• the break of such a trend line is considered as more significant event

Three primary challenges- at the hard right edge

1. What do you do when the trend line no longer provides a "best fit"?

• -Adjust as required to maintain " best fit"

2.What is the trend after a confirmed break of a trend line?

• look to the swing highs and lows and allow the market to define the new trend.

3.What do yo do when you just can not read the tread?

• use common sense- keep it simple
• get a wider perspective
• combine methods of trend definition 
• or define an uncertain trend and stand aside