Replies to post #8133 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[u3ratsinabag]

I imagine an array of trendlines fanning out from the initial low on 4/1, one of which is the trendline that you mention intercepting the low on 4/10. However, I have had better luck timing price action if I follow the trendline that has accumulated the most "ride time" - meaning the line that has been successfully tested as support most frequently. Not an exact science, and some will see it differently.