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; both charts are 1 minute data plot.they have different box sizes.the first one is only a small bit of help.the ...

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Old Feb 23, 2010, 12:11pm   #29
 
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Re: learning to read price action with p/f charts

dentist007 started this thread both charts are 1 minute data plot.they have different box sizes.the first one is only a small bit of help.the second is more informative

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Old Feb 24, 2010, 5:54pm   #30
 
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Re: learning to read price action with p/f charts

dentist007 started this thread so..we are looking at the presentation of the chart.
you need to look for the chart that gives you some useful information.it might not be there,so if you dont see it...then its not there
then,look at the bias of the chart.we know what a bulish and bearish signal looks like...now for a sweet little trick,which i subconsciously had in my mind but was alerted to it,and made it a must when taking a first look at a chart..thank you for this to mike at cla alloys in houston
the signals MUST be consecutive.otherwise,there is too much chop
so look for CONSECUTIVE rising lows and double-tops..bullish
vice versa for bearish
do this for the last two signals on the chart.if they are consecutive ,you have a chance of some trend and putting on a trade.applies to all box sizes..and time plot
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Old Feb 24, 2010, 6:03pm   #31
 
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Re: learning to read price action with p/f charts

dentist007 started this thread nas 100 today
1 min plot
black elipse points to where the chart got bullish.market gapped up above the breakout area.carried on to res area.you can see consecutive rising lows and breakouts

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Old Feb 27, 2010, 1:32pm   #32
 
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Re: learning to read price action with p/f charts

dentist007 started this thread a nice example on the dow
5 min data
a good area of support at the green line.play the bounces from the green line...then at the end,price action got bullish.then it popped at the yellow line to 10400 region
the next chart fomation is bearish...long columns up and down..indecision..downward columns with big retraces

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Old Mar 1, 2010, 7:35pm   #33
 
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Re: learning to read price action with p/f charts

dentist007 started this thread ok...so everyvbody getting the gist of what i am saying....
next thing,,,is what to look for when you think the trend might be reversing

a chart of the dow.
1 min data plot..we are in an uptrend.price got rejected at resistance.a minor downtrend has formed and we are in a midzone.does the uptrend continue or does the downtrend /minor continue
a tip i learnt from holygrail on elitetrader...wait for consecutive signals.ie another double-top or a triple-top to go long.many times you will see a double-top in a downtrend.we need reliability of the signal/a confirmation
we will see how this one plays out

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Old Mar 2, 2010, 7:48pm   #34
 
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Re: learning to read price action with p/f charts

dentist007 started this thread cannot update the chart..for some unknown reason,stockcharts server is down for me to day
good excuse to go and sit in the sunshine today
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Old Mar 2, 2010, 7:51pm   #35
 
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Re: learning to read price action with p/f charts

dentist007 started this thread a trade on cable.put on today..
support showing nicely /black line.some nice bounces from the support area

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