[FLX]

This is a big subject and something you will have to follow up on due to the vast nature of the trend line, but if you want a good book on the subject look at Tom Demark, The Science of techical Analysis.
If you are not using trendlines you will experience hugh problems determining trendline support and resistence. We have tested all these indicator, but most of the time there late, with a signal to trade so you need a trendline to confirm break out on the 15m and the 60 min. The best example is in choopy market. You must have s/r line and trendlines to confirm breakout. We have wrote our own indicator to avoid this problem. Most of the MACDS are 3 to 5 bars late and the trades are long gone in Most cases.

If the macd is turning(not confirmed) you have a trend line break, the trendlline confirmed the move your ready to go what are you going to do wait for the macd that is four bar behind.

The biggest mistake a trader can make is not draw fibonacci and trendlines on there chart. Long term and short term DY,WKLY, 240m, 1HR, 15m

You dont do what feels good, you do what has to be done! Let the market determine where it will go.

I made the mistake last week of determining direction, the direction was correct but it went down 500 dollar before it started to rally.
A simple 60 min trendline would have solved the problem.

Always look at the 60 and 15 min trendline!

Dont get lock into a direction, let the market tell you the rest of the story.

Something i learned if the market moves, (days range 700 points) or more (ER2 Dow SP) the next days volitility is very high and expect major swing in the market the next day.
This is the reason the market went down 300 more than expected!