I believe the line should start with the highest symbol in the parse tree of the statement you want to break. It highlights the operator that is most important in the expression. It is the same reason why you put an else at the begin of a line and not at the end of the previous line.
In the following example, scanning the left margin, you see the structure of the statement as an OR of 3 expressions.
if (ch>='A' && ch<='Z'
|| ch>='a' && ch<='z'
|| ch>='0' && ch<='9')
{...}
Below, the || operators are less highlighted. It is less obvious it is an || of expressions. Especially if the lines were diffent lengths.
if (ch>='A' && ch<='Z' ||
ch>='a' && ch<='z' ||
ch>='0' && ch<='9')
{...}
And just for reference, this is very wrong. The || operators are not highlighted at all.
if ( ch>='A' && ch<='Z' || ch>='a'
&& ch<='z' || ch>='0' && ch<='9')
{...}
I even like to put commas at the beginning of the line, even though I seldom see that. I refrain from doing that on shared code.
var note:Object =
{ key: key
, type: 'P'
, text: someLongProcedureCallGettingTheUserInitials()
+ ": " + getTheTextThatWasTyped()
};