Trading with p/f

This is a discussion on Trading with p/f within the Technical Analysis forums, part of the Methods category; Well folks now you have all learnt the p/f methodology...we must move further on and put up some trades. These ...

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Old Feb 17, 2014, 12:32pm   #1
 
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Trading with p/f

Well folks
now you have all learnt the p/f methodology...we must move further on and put up some trades.
These are going to be charts with POSSIBLE trade setups
we are breakout traders...nothing more
so..we are trading only the breakout..but we can get caught in traps,but..we will try like hell to avoid them
i will have no responsibility for anybodys trades
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Old Feb 17, 2014, 12:45pm   #2
 
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dentist007 started this thread first trade of the day
cable/gbpusd
short trade
from looking at the line chart first and then going to p/f.my own visual optimisation of the price action would have come from the 10 min data
this was to show the final push upwards/spike and then the consolidation,which then gave us a triple bottom sell..note that the green trend had just about been taken out
data was from 14 feb.ie 2days
we dont want to crowd the chart with too many trends and signals
box setting was 5pips by 2 reversal hilo plot
entry was at 1.6765
targets are always 5 box ish..
reason..you get 5 boxes..usually before market recoils,,so you dont want to hang around in the recoil

Click the image to open in full size.


as mentioned on another thread...i got up too late to trade this setup..but in future..i will be posting potentiall trades..ie we want to identify the breakout point and get set up on the other side of the pattern..that keeps the stop tighter..but the reward is higher.it is a bit riskier to do this..if we are careful,then we wont get mugged too often
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Old Feb 17, 2014, 12:51pm   #3
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Should be a good thread !

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Old Mar 9, 2014, 10:10am   #4
 
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dentist007 started this thread spot oil..wti
hourly
dots are the close..less noise than a candlestick
when we see any chart..first thing to do is to divide the chart into bullish and bearish sections using trendlines


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Old Mar 9, 2014, 10:14am   #5
 
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dentist007 started this thread here is the chart
note it is bullish

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Old Mar 9, 2014, 10:45am   #6
 
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dentist007 started this thread so..from that we have the basis for a p/f chart
we have put in 7cent by 1 reversal p/f chart
why..
cos we wanted to replicate the line chart as far as possible..this gives us a starting point for the p/f box size and reversal
note we have not loaded up too much data....as all we want to see is the latest trends and do our analysis on that

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Old Mar 9, 2014, 10:57am   #7
 
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dentist007 started this thread then..keeping the same box size and reversal
we go to the hilo plot of the data
note..that we have a multitude of interesting areas

Click the image to open in full size.

yellow horizontals are res
aqua horizontal is supp
red..trend res
and green is trend supp as defined by the chart method of construction
so..going into next week...we have a good feel of where supp and res might lie
price is in an intermed downtrend with a recoil upwards..the lates green trendline
now..the $64,000 dollar question ??
does the downtrend resume or that minor uptrend gain momentum
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Old Mar 9, 2014, 11:08am   #8
 
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dentist007 started this thread a quick look around other time input and box sizes to see if we can get more information
15 min time input
25 cents by 2 reversal
hilo plot

Click the image to open in full size.
now we are at a prev supp area/purple horizontal and a double-top breakout

this area could be strong res
so we need to look at the other side of the pattern to look for clues if this breakout will fail
so..from this chart we have trend res/red and prev supp/purple
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