learning to read price action with p/f charts

This is a discussion on learning to read price action with p/f charts within the Technical Analysis forums, part of the Methods category; eurusd daily data input an intermediate resistance area encountered on the latest uptrend which started in june 66 pips by ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jul 10, 2010, 9:04pm   #89
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread eurusd daily data input
an intermediate resistance area encountered on the latest uptrend which started in june
66 pips by 3 reversal hilo plot.green line showing the res area..45 degree trendlines/down.price breakout is a high pole

Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Jul 10, 2010, 9:10pm   #90
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread a higher box size..81 pips by 3 reversal..hilo
we are now in a pretty major resistance.this should set back a summer stock rally for the time being

Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Jul 12, 2010, 12:21am   #91
taq
 
taq's Avatar
Joined Jul 2008
Re: learning to read price action with p/f charts

Impressive knowledgeable posts. Thanks a lot.
taq is offline   Reply With Quote
Old Jul 12, 2010, 7:38am   #92
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread p/f .there is very little to be learnt..one or two books needed
takes a little practice ,and a charting package the plots the boxes correctly
no more needed
dentist007 is online now   Reply With Quote
Old Jul 18, 2010, 9:51pm   #93
taq
 
taq's Avatar
Joined Jul 2008
Re: learning to read price action with p/f charts

Hello DT007

I would like to know your view on this one. It has broken last major resistance & made triple top buy signal or I have to wait for retracement upto last support line to initiate longs??

Click the image to open in full size.


Regards,
TAQ
taq is offline   Reply With Quote
Old Jul 19, 2010, 1:19pm   #94
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread ok taq..no problem
it is a bullish chart,yes a triple-top breakout
risk/reward is calling the shots
1.do you buy the breakout ?
2.do you wait for the pullback into the pattern and then buy the next break.the risk in this case is lowe,but the reward is also lower.
it is a bullish pattern,plenty of white space between the up columns
however,one big thing you missed out.we need to know where the next resistance area on this chart is .? the chart does not have enough columns to go back to find out where that is.we need to see the previous downtrend.with 45 degree trendlines and internals to make an assumption.ths could be near of far away
dentist007 is online now   Reply With Quote
Old Jul 19, 2010, 6:33pm   #95
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread taq..youre chart looks to be the nifty.so no reistances from previous downtrend to be seen

nifty chart
daily data
100 by 3 hilo

Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Jul 19, 2010, 6:43pm   #96
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread risk is quite high on the chart you have shown.the stop sghould be at a minimum of 1 box below the lowest "o".what made it more bullish ws that there was a double-top just before the triple-top breakout.that would have been the ideal entry as the stop was only 4 boxes away.not happy about youre channel lines.kermit zieg has a book on p/f.you can read it free on google.if you go to 1 box/wyckoff.it might show up s/r areas more clearly
hope this helps



Quote:
Originally Posted by taq View Post
Hello DT007

I would like to know your view on this one. It has broken last major resistance & made triple top buy signal or I have to wait for retracement upto last support line to initiate longs??

Click the image to open in full size.


Regards,
TAQ
dentist007 is online now   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Article: Read the Market Using Price and Volume T2W Bot Educational Resources 1 Feb 1, 2013 2:27pm
Learning to trade with price-action lgthomas Trading Journals 10 Jan 25, 2010 7:33am
learning price action using MAs, fibo and horizontal levels TAjammy Trading Journals 34 Aug 12, 2009 4:15am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)