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 aapl 30 mins data tracking the downtrend from $700 area $2.00 box size by 1 reversal ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Oct 10, 2012, 10:53pm   #391
 
isatrader's Avatar
Joined Oct 2010
Re: learning to read price action with p/f charts

Quote:
Originally Posted by dentist007 View Post
aapl 30 mins data
tracking the downtrend from $700 area
$2.00 box size by 1 reversal
Thanks. The short term downtrend lines are very similar to the percentage chart positions. But that low pole reversal yesterday on your 1 box chart gives a good view of the intra-day price action.
__________________
isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill – Reminiscences of a Stock Operator.
isatrader is offline   Reply With Quote
Old Oct 11, 2012, 10:41am   #392
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread low pole reversal
yes...could be
you see quite a few of them /intraday
seems to be the main aim....think that market makers drop the price to test the support
thinking that the real test is $650 res area
now you have the supp area $625 ish and the overhead res. $650 ..easy now to track the price
both areas look reasonably important
dentist007 is online now   Reply With Quote
Old Oct 11, 2012, 7:24pm   #393
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread spx 15 min data
downtrend is still in play from the 1470 top
looks to want to make another pop at resistance
lets see what happens
Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Oct 11, 2012, 8:49pm   #394
Joined Oct 2012
Re: learning to read price action with p/f charts

I agree
Lax_Van_Dumb is offline   Reply With Quote
Old Oct 11, 2012, 10:52pm   #395
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread lex...good to have you onboard
isa..a better chart of aapl
aapl 4 hour data
$5 box size by 2 reversal
close plot
it does not seem to have really tested the $620 area support/green line
the 50% of the low pole is 650
but....look at those red lines
coming in at $660 and $670
thinking that we really need to test support and see if the bulls are still there
lets see what happens

Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Oct 11, 2012, 11:07pm   #396
 
isatrader's Avatar
Joined Oct 2010
Re: learning to read price action with p/f charts

Quote:
Originally Posted by dentist007 View Post
isa..a better chart of aapl
aapl 4 hour data
$5 box size by 2 reversal
close plot
it does not seem to have really tested the $620 area support/green line
the 50% of the low pole is 650
but....look at those red lines
coming in at $660 and $670
thinking that we really need to test support and see if the bulls are still there
lets see what happens
That 620 support looks fairly key on both your's and my percentage chart. But note the volume support and price objective are both around the 600 level, so it could drop through the trendlines and still find a base not much further down.

The low pole reversal reached the double bottom breakdown level, but is close to reversing to Os and making a continuation move lower if it gets below that 620 level.

1% box size by 3 reversal with high/low plot

Click the image to open in full size.
Attached Thumbnails
aapl_pnf_11-10-12.png  
__________________
isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill – Reminiscences of a Stock Operator.
isatrader is offline   Reply With Quote
Old Oct 12, 2012, 8:03pm   #397
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread as we said yesterday
spx
another pop at resistance and then the move down chart to follow
dentist007 is online now   Reply With Quote
Old Oct 13, 2012, 4:07pm   #398
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread spx 1 min data showing the pop at resistance
thursday"s support was marked...pink horizontal line
we were ready on friday when price took a pop at res.
then shorts in
Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Oct 14, 2012, 10:17pm   #399
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread spx 5 min data
watching that downtrend that began on 5th october
if it recoils then we watch 1432 area to see if we that downtrend can be broken
if it goes lower so will the res area

Click the image to open in full size.
dentist007 is online now   Reply With Quote
Old Oct 15, 2012, 1:01pm   #400
 
isatrader's Avatar
Joined Oct 2010
Re: learning to read price action with p/f charts

Here's the P&F chart of the ES mini futures continuous contract, which has the potential for a shakeout pattern as bounced at support today. It's a 3 box reversal chart and needs to get above 1460 to break the short term down trend line.

Click the image to open in full size.
Attached Thumbnails
es_mini_12-10-12.png  
__________________
isatrader

Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill – Reminiscences of a Stock Operator.
isatrader is offline   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 5:15am

Currently Active Users Viewing This Thread: 2 (1 members and 1 guests)
dentist007