Yes, it is wise to use trendlines in price action trading. Trendlines are a popular tool in price action trading because they can help traders identify the direction of the trend and potential areas of support and resistance.
Trendlines are drawn by connecting two or more points on a price chart and are used to highlight the direction of the trend. An uptrend is defined by a series of higher highs and higher lows, while a downtrend is defined by a series of lower highs and lower lows. By drawing trendlines connecting these highs and lows, traders can get a visual representation of the trend.
In addition to helping identify the trend, trendlines can also be used to identify potential areas of support and resistance. When price approaches a trendline, traders will often look for signs of a price reversal or a breakout from the trendline.
It's important to note that trendlines are not always perfect and can be subjective. Therefore, it's important to confirm trendline signals with other price action signals, such as candlestick patterns or other technical indicators. Additionally, it's important to regularly review and adjust trendlines as the market conditions change over time.