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; price is in a consolidation.so went down to the 1 minute data plot because price action was a bit crazy ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Apr 24, 2010, 6:00pm   #65
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread price is in a consolidation.so went down to the 1 minute data plot
because price action was a bit crazy and unworkable in a 3 box reversal.i went down to 2 box reversal to see if i could make sense of the price action

Click the image to open in full size.
dentist007 is offline   Reply With Quote
Old Apr 24, 2010, 6:06pm   #66
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread not an easy one to trade.the doown thrust was well behaved.aswell as the upthrust.it stuck to the bullish /bearish lines.after that,then things became more erratic
0.75 box size by 2 reversal.hilo plot
dentist007 is offline   Reply With Quote
Old Apr 24, 2010, 6:13pm   #67
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread if the bullish and bearish sections become erratic like that,i always walk away.in my opinion,the market is confused and the trends are too erratic
cable...gbp usd 10 min
an orderly chart...no mess...maybe ,it will get messy..if it does ,then i will find another tradeable instrument

p/f does bring order to the chart and sorts out the chaos.something that does not happen with other charts..imho

Click the image to open in full size.
dentist007 is offline   Reply With Quote
Old Apr 24, 2010, 6:20pm   #68
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Re: learning to read price action with p/f charts

Quote:
Originally Posted by EmotionIsTheBigEvel View Post
Hey Tim, I read somewhere that you started around 2006 with PnF charts. Are you daytrading with it? And how are you doing using PnF charts? Are you using other TA stuff or only PnF?
Hi Emotion,
I've used them on and off over the years depending on what I was trading. They are not the easiest chart to use for day trading stocks IMO because the box size will vary from one stock to the next. This is a complete pain if you're watching lots of stocks during the day. However, this year, I've decided to restrict myself to futures - starting with the YM and now I'm about to switch to the ES. And yes - I will will indeed be using P&F charts to trade the ES.

Interestingly, you mention Investor RT in your post to dentist007 - who doesn't seem impressed with them! I'm about to open an account with them having demo'd their software this week. I totally disagree with d007 - I think the Investor RT P&F charts are among the best I've ever seen. They knock spots off both TradeStation's and eSignal's. They're drawn perfectly (to my way of thinking) and you can draw 'true' 45 degree trendlines very easily. Support seems excellent too. I'm very excited about using them; once I know my way around the software a bit more - I'll post some charts of the ES up here. In the meantime, you can see some of their P&F charts here:
Investor RT P&F Charts
NB - not all the charts are Investor RT's - some are MarketDelta's - so check the logo in the top left hand corner! I know d007 particularly likes his charts to have perfect square boxes so that the aspect ratio is 1:1. I tend to agree with him on this and while not all the charts on the linked webpage show this (i.e. some are squashed or elongated), there is a facility in the Investor RT P&F preferences to set the charts to a perfect square for those of us that want it.
Enjoy,
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Old Apr 24, 2010, 6:36pm   #69
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread tim
lets see some investor r/t charts.the ones i swa look skewed
dentist007 is offline   Reply With Quote
Old Apr 24, 2010, 6:37pm   #70
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread tim
if you post the screenshot.i would like to see the formation of the "x" and o "s
do they form immediatley like that,or do you have to adjust the size of the chart..??
dentist007 is offline   Reply With Quote
Old Apr 25, 2010, 10:36am   #71
The Staff are paid members that perform various roles such as editorial, advertising, support or technical work.
 
timsk's Avatar
Joined Mar 2002
Re: learning to read price action with p/f charts

Quote:
Originally Posted by dentist007 View Post
tim
if you post the screenshot.i would like to see the formation of the "x" and o "s
do they form immediatley like that,or do you have to adjust the size of the chart..??
'ere you go.

sample_irt_p-f_chart.png

It's just a very basic chart - no bells or whistles. As I said in my earlier post, the user has the facility to set the chart to a variety of scaling options, one of which is 'automatic scaling with square boxes'. Using the mouse wheel one can then zoom in and out and the boxes remain perfect squares. No adjusting of the chart is necessary. If you're viewing a chart - which let's say has a very large and dramatic move on it - with just one click of the mouse, you can toggle to manual scaling which will enable you to compress the chart down so you can see the whole move. Basically, anything you can think of - you can do with this program! And the range of indicators is second to none.
Tim.
__________________
I'm New To T2W - Where Do I Start? - a must read for anyone new to T2W
I'm New To TRADING – Where Do I Start? - a must read for anyone new to TRADING
The Trading Plan Template - a must read for anyone without a proper TRADING PLAN
Please note: I am part of T2W Admin' Staff - I am NOT a Moderator!
timsk is offline   Reply With Quote
Old Apr 26, 2010, 5:50pm   #72
 
dentist007's Avatar
Joined Mar 2003
Re: learning to read price action with p/f charts

dentist007 started this thread nice charts tim..i owe you a couple of pints of stella
dentist007 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 4:15am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)