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; Originally Posted by dentist007 Ground breaking new point and figure charting techniques. Hi dentist007, As you know, like you I'm ...

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Old Oct 21, 2011, 2:46pm   #111
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Re: learning to read price action with p/f charts

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Originally Posted by dentist007 View Post
Ground breaking new point and figure charting techniques.
Hi dentist007,
As you know, like you I'm a P&F fan but, for £100, I wonder what one gets from the workshop that one can't get from his book at half the price. The bit quoted is the only obvious thing which, I must say, raises a level of scepticism in me. That said, JdP is the bees knees when it comes to P&F - so I'll keep an open mind. If you're going, perhaps you'd be good enough to update this thread with what these ground breaking new techniques are please?
Cheers,
TIm.
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Old Oct 22, 2011, 10:53am   #112
 
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Re: learning to read price action with p/f charts

dentist007 started this thread hi Tim
not going myeself
the new stuff he is going on about is in his chapter in the book "breakthroughs in technical anlysis"
i think
He has put on oscilltors on o updata that are calculated from the centre of the column.so, basically,you can look for divergence etc etc
i have my own way to do this as i dont use updata.i use my daughter"s plastic rulere and measure the distance between the moving averages on the bullseye chart.i measure the distance in mm and see if it diverges.the ruler cost 25p.well worth the money !!
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Old Oct 22, 2011, 10:55am   #113
 
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Re: learning to read price action with p/f charts

dentist007 started this thread here is a snippet i got jeremy to write for us

Point and Figure was originally and still is a charting method to plot trades as they happen. This means that Point and Figure charts were drawn using tick data. When tick data became more difficult to obtain, users of Point and Figure decided to use end-of-day daily data. In order to account for the days range, the high/low method was devised. But there are problems. With daily data you do not know whether the high or low came first, so either the high or the low are used, but never both. This causes quite a few anomolies which is why the close is a better field to use. Furthermore, instead of using daily high/low, it is better to draw a 60 minute, or 5 minute or even a 1 minute chart based on the close at the end of every time frame. At least then the path the price has taken during the day is tracked which is not the case with daily high/low charts.
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Old Oct 22, 2011, 11:01am   #114
 
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Re: learning to read price action with p/f charts

dentist007 started this thread ok..so the anomoly
say price is moving in a downtrend and it say,spikes upwards at the open,enough to pint a 3 box reversal.then the chart will print a 3 box reversal as it was the first move.the stock/fx pair might have got sold off after the spike,but the hilo plot will show a potential reversal as it only plots the first move.this is what i think he means
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Old Oct 22, 2011, 11:36am   #115
 
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Re: learning to read price action with p/f charts

dentist007 started this thread dow
eod /close data
80 points box size by 3 reversal
another fake...this latest breakout ha not been supported as yet.need to p/b and retest the bulls at some point soon

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Old Oct 23, 2011, 11:22am   #116
 
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Re: learning to read price action with p/f charts

Hi dentist007. It did manage a pullback on the S&P 500 P&F Chart (10 point box size), however volume is still fairly low overall, so IMO it would need to see a lot more volume if it breaks out to have any chance of getting past the 8 months of resistance above any time soon.
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Old Oct 30, 2011, 6:32pm   #117
 
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Re: learning to read price action with p/f charts

dentist007 started this thread s500 hourly data
showing the latest breakout
we should get a test of the 50% zone/1265 area

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Old Dec 3, 2011, 11:13am   #118
 
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Re: learning to read price action with p/f charts

dentist007 started this thread cable
gbpusd
hourly data
20 pip box size by 3 reversal
start of a new uptrend.a shakeout on friday.at support
new trend could fail.does not look like it at this point


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Old Dec 3, 2011, 8:06pm   #119
 
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Re: learning to read price action with p/f charts

dentist007 started this thread dow 30 min data
bulls are ready to break tha resistance

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Old Dec 4, 2011, 11:33am   #120
 
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Re: learning to read price action with p/f charts

dentist007 started this thread cable..gbpusd
10 min data..12 pips by 3 reversal
price action on thusday and friday coiled up and we got a triangle that popped after non farm payrolls

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