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; hi malaguti i got myeself some 10 minute data for barc not an easy one in fact it tricked chartcraft ...

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Old May 16, 2012, 10:53pm   #241
 
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Re: learning to read price action with p/f charts

dentist007 started this thread hi malaguti
i got myeself some 10 minute data for barc
not an easy one
in fact it tricked chartcraft into going long
here is the chart
showing the downtrends
the first one was a short one and sudden
the second one is far more tradeable...the red line
you can see how many consecutive p/f signals there were on the second downtrend
so,we keep the red line as the trend identifier....any move to the line and we close any shorts.that shows.the trend is weakening

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also,to make life more intolerable,there was a long period of consolidation between first move down and second move

Last edited by dentist007; May 17, 2012 at 7:46pm.
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Old May 16, 2012, 11:16pm   #242
 
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Re: learning to read price action with p/f charts

dentist007 started this thread barc...hourly data
the green line shows where chartcraft/investors intelligence got caught in a trap/shakeout
they got a signal to go long
they made the classic mistake..they traded against the trend..see that downtrend line/red
the numbers are just dates...daily
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Old May 17, 2012, 7:15pm   #243
 
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Re: learning to read price action with p/f charts

dentist007 started this thread spx 15 min data
watch that trend

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Old May 17, 2012, 8:18pm   #244
 
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Re: learning to read price action with p/f charts

dentist007 started this thread here is an excellent chart for defining the trend
45 degree trendlines are red
subjective is purple
60 min
audusd

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Old May 18, 2012, 9:46am   #245
 
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Re: learning to read price action with p/f charts

Gold this is happening right now
I was viewing this on a 1box reversal, this is 2 however for any fresh upward counts. That according to duplessis was not a good sign.
But I'd like to trade the breakout as its all good experience
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Old May 18, 2012, 6:35pm   #246
 
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Re: learning to read price action with p/f charts

dentist007 started this thread hi malaguti
here is 10 min data for gold
can it maintain that trend ??
it is not too steep
if not,we must look for a support at a lower level
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Old May 18, 2012, 6:42pm   #247
 
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Re: learning to read price action with p/f charts

dentist007 started this thread a better supp area for that trend
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Old May 18, 2012, 7:19pm   #248
 
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Re: learning to read price action with p/f charts

dentist007 started this thread spx hourly
still no let up in that downtrend
internal trendline has to be taken out to show some sign of strength

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Old May 18, 2012, 9:06pm   #249
 
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Re: learning to read price action with p/f charts

[QUOTE=dentist007;1857966]hi malaguti
here is 10 min data for gold
can it maintain that trend ??
it is not too steep
if not,we must look for a support at a lower level

Thanks Dentist..I find it very difficult to read 1box reversal, 2 is the best I can hope for at the moment. I'm seeing the relationship now between high low and close charts which is good news. I've switched to intraday for the time being. What I learn from looking at a 1 min setting saves months of looking at end of day
And thanks for those barclays charts, I closed out when there was a hint of a buy, but didnt of course take the trade but I may well play with running the trend as long as possible until internal targets have been reached.
I'll put in your settings for S&P. There will be a break for sure and I'd like to see some of that action

John
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Old May 18, 2012, 10:42pm   #250
 
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Re: learning to read price action with p/f charts

dentist007 started this thread facebook ipo came at the worst possible time
here is the spx..1o min data
the downtrend from 1 st may
note that it is in 2 waves
the first was a sudden move
the second is more prolonged and will have to take out that downtrend line with a res area of 1307 ish.if price goes down,so does the res area

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