Best Thread learning to read price action with p/f charts

[malaguti]

hi malaguti
thanks for the chart
i am looking at that dax chart you posted and comparing it ...the hilo plot
anyway here is the ftse hourly
2 trendlines to watch
the main has supp at 5850 area/green
the internal is 5900 area/light blue

Cheers mate. i guess theres a limit to how much time I can spend looking after hours..but I ill be calling Updata nonetheless

 

[Dentalfloss]

after hours/pre market is good for direction at the open and day trends
here is 1 min data for s&p 500 lcg spreadbet futures/daily cash
1420 area for trend supp...watching

 

[isatrader]

S&P 500 intraday 60 min charts. 2 pt box size by 3 reversal and 2 pt box size by 1 reversal. The 1 box reversal has broken it's uptrend line and given a sell signal, and the 3 box reversal has made an initial sell signal, but needs to make a continuation sell signal below 1414.

 

[Dentalfloss]

hey isa
good charts
you have to be a bit careful....cos the real meat starts in 1408 region...imho

 

[malaguti]

hey isa
good charts
you have to be a bit careful....cos the real meat starts in 1408 region...imho

I'm short from 1426..I hope it gets to 1408 :clap::clap::clap:

 

[Dentalfloss]

hey malaguti
good stuff...keep em comin
spx 5 min
5 by 3 close
looks like we are near the supp zone for that trend.on this chart it looks to be 1410 region

approx 1 month data

 

[Dentalfloss]

so..from that 30 min chart posted below we are looking for some recoil...then we get a fix on a possible downside count/vertical..if we are extremely bearish
here is that downtrend on 1 min you are trading
if it recoils from support,then you might be looking to take positions/short again
you will want to take a position on the opposite side of the recoil pattern
how do we do this ???
well.this is how i do it....
move up box sizes and put on 45 deg trendlines...so you have potential res areas from the bounce
note these down and map these
the trendlines will be away from the price to give some space for any bounce
there might be a few areas..so then you have to watch and see and take a position when a bearish pattern
appears near one of these levels

just my two cents worth

 

[Dentalfloss]

15 min dow futures
20 points by 3 reversal
shows the blow off for fomc nicely..the breakout point was 13080..so might be supported there/light blue line
or the green trendline...13040 region
the 50% of the pole was taken out /red line at 13160 area
so still pretty bullish..imho

malaguti..forgot to mention
if horizontal counts have been achieved..then you could be living dangerously...imho

 

[malaguti]

malaguti..forgot to mention
if horizontal counts have been achieved..then you could be living dangerously...imho

You mean vertical yeah? I don't really look at horizontal counts.
If you do mean vertical, then I'm with you all the way on that one. I tend to scale out at target levels, but I still have room left for a pullback. Lets see how today goes, FTSE selling off, but S&P still holding.

 

[Dentalfloss]

merry christmas and a very profitable 2013
malaguti
isa
tim
and all others following

 

[malaguti]

merry christmas and a very profitable 2013

Festive greetings to you too buddy. Thanks for all your guidance this past year.
Have a great new year too

 

[Dentalfloss]

hi malaguti
hope you had a good christmas
and all others...a good one/ hopefully
dow fututures 15 min
first chart...a break of trend
second chart..possible supp area 13020 ish

 

[Dentalfloss]

apologies...a slight miscalculation
we are in a possible bounce area

 

[malaguti]

apologies...a slight miscalculation
we are in a possible bounce area

A great xmas cheers mate. here's to another successful year
S&P also coming into suport, typically from here we've had 30 point or so rises

 

[Dentalfloss]

hi malaguti
yes a good xmas
and we will have a very profitable 2013 also
lets get back to work

the mother of all indices
live intraday data

dollar index 30 min data
see that downtrend that started on 16 nov...remember that stocks move inversely to dollar index
see the move upwards and now testing resistance

 

[Dentalfloss]

dxy
a closer look at those trends
15 min
we watch the green trendline..in case it was a fake move

 

[Dentalfloss]

hi malaguti
and any others who trade spx
well,we got some wild price action
so the 5 min s&p futures
we can see horizontal supp at 1400 area and 1380 area
but a mass of res in 1416 area
so...we could get a fake move either to 1380 or 1416 areas..thinking that the bulls might get tested..but could go either way....
any thoughts ????????????

 

[isatrader]

hi malaguti
and any others who trade spx
well,we got some wild price action
so the 5 min s&p futures
we can see horizontal supp at 1400 area and 1380 area
but a mass of res in 1416 area
so...we could get a fake move either to 1380 or 1416 areas..thinking that the bulls might get tested..but could go either way....
any thoughts ????????????

Your data is incomplete. The ES gaped lower and traded down for the final hour and 15 mins on Friday night after the US close down to 1382.25, and then closed at 1384. So will be an interesting open tonight. See the CME for the complete data: E-mini S&P 500 and attached is a prorealtime chart that includes the full data.

[EDIT] In fact it's already having some pre-trading movement from somewhere and is up 4.5 as I type to 1388.5

 

[Dentalfloss]

isa
thanks for that
i will have to watch more carefully the closing data
nearly all the time it is bang on to the penny
my close was 9pm uk time
anyway,on my travels,something interesting was posted by underground trader..
he is saying that there will be downgrades on the dollar by ratings agencies,possibly during jan/feb as the debt ceiling deadline looms..dxy needs to be watched very carefully..imho
any veiws ??

 

[Dentalfloss]

dollar index 30 min data
the real big res is in 80.10 area...imho