Re: learning to read price action with p/f charts 
hi malaguti
that was a 60 min data
what you look for..
that last down move had just started on friday.the long column down was the gap down befoire the the open from nfp numbers
so theis move should be really tracked say on 1 or 5 minute..with the 60 min medium term trend in the background
only draw trendlines from the 1st may high..that gives you the longer term trend
we want to track this latest move downwards..we will have a few trends on that shorter t/f charts and we can then see which ones hold
remember.. we are not calling out levels where support comes in....we are tracking those trends with trendlines...p/f trendlines track constant rate of change per reversal...barchart trendlines track constant rate of change per unit of time
we want to track the price action and trade from called out levels
from called out levels ,we only have an idea where s/r should lie.does not mean that the trend will change |