Now that we have had a look at the argument against using some form of technical analysis to help gain an advantage in the market lets have a look on the bright side; the argument for using some form of analysis to help make buy and sell decisions in the market.
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We learned that the trend line acts as underlying support to up trend lines and overhead resistance to down trends.
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For those who do not wish to trade the trend so aggressively one can use the trend line for placing and moving stops and to initiate new trades.
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When prices move without such a discernible series, prices are said to be trading side ways in a range or trendless.
Some times the price will just keep going through support and resistance and sometimes it will come back to test its previous support or resistance line.
A 10-day moving average would likely whipsaw you in and out the market too frequently to be very profitable.