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

[malaguti]

Sorry to enter into conversation except am learning from you two.
The chart shows price has to go up all the way passin 38.2 fib to make start of View attachment 158428the reversal?

Technically, yes on that chart. Its hourly, so therefore you could get away with a smaller, possibly 2 or even 1 reversal, and that would potentially give you an earlier signal. Your setting doesn't look like it could be the best. Just my view though. The internal line in strong, and duplessis does state that an intenal line can be considered as good as the outer bearish resistance line.
I might look at another combination and see if you can get a little tighter to the trend.

 

[Oraclefusions]

Technically, yes on that chart. Its hourly, so therefore you could get away with a smaller, possibly 2 or even 1 reversal, and that would potentially give you an earlier signal. Your setting doesn't look like it could be the best. Just my view though. The internal line in strong, and duplessis does state that an intenal line can be considered as good as the outer bearish resistance line.
I might look at another combination and see if you can get a little tighter to the trend.

Yes.
The purpose is to find out in a lower time frame when the bullish trend will start, right? because it is only indicated in a higher time frame 5x3. ?

 

[Dentalfloss]

yeah.....but you are wasting time and tie up money chasing these stocks that have indecision.imho...it is messy cos it tests res and then moves around too much.if the bulls meant business, they would step in.that is one good thing about p/f..it gets rid of the messers easily an quickly
Duplessis...if it"s messy...move on
here is a chart with good follow thru
no need to put it on in p/f

 

[Dentalfloss]

chart of arm holdings
we had this marked some months ago
no messers...just bulls
no need for a p/f chart

 

[Dentalfloss]

here is another
no need for a p/f chart
i do realise that with evraz,you are trying to get in at the bottom...but...the whole market rallied over the last few months..it did not
so plot rs/normalised against the ftse 350.it could get taken higher..but there are so many failure points that a complete change of sentiment will be the cause of a rally
imho

no need for a p/f chart

 

[malaguti]

i do realise that with evraz,you are trying to get in at the bottom...but...the whole market rallied over the last few months..it did not
so plot rs/normalised against the ftse 350.it could get taken higher..but there are so many failure points that a complete change of sentiment will be the cause of a rally

Hey Dentist, not sure who that's addressed to. As far as im concerned, Evraz is (or soon will be) giving us an opportunity to resume this bearish phase again. I've marked the double bottom, and thats as far as my thinking goes. An hourly chart, I may use to track that trend until it reverses. But will I buy, then if the hourly breaks? Hell no. Evraz is in a downtrend, my daily 5x3 close tells me one thing only..DOWN.
agreed, im not fishing for bottoms, thats not the point of P&F. will take your non P&F charts anyday.

re your point of R/S couldn't agree more and a very good point made.

 

[Dentalfloss]

ok..got wot u mean....DURR !!! got my wires crossed
u got a nice vertical count/downwards on the daily forming
lets see when it get activated
is that what you mean ??






QUOTE=malaguti;2093966]Hey Dentist, not sure who that's addressed to. As far as im concerned, Evraz is (or soon will be) giving us an opportunity to resume this bearish phase again. I've marked the double bottom, and thats as far as my thinking goes. An hourly chart, I may use to track that trend until it reverses. But will I buy, then if the hourly breaks? Hell no. Evraz is in a downtrend, my daily 5x3 close tells me one thing only..DOWN.
agreed, im not fishing for bottoms, thats not the point of P&F. will take your non P&F charts anyday.

re your point of R/S couldn't agree more and a very good point made.[/QUOTE]

 

[malaguti]

ok..got wot u mean....DURR !!! got my wires crossed
u got a nice vertical count/downwards on the daily forming
lets see when it get activated
is that what you mean ??

Thats it, agreed the chart is a bit messy, but has historically been a nice one to trade. 2% down since then of course

 

[Dentalfloss]

eurusd 4 hour data
got a stack of resistance between 1.3100 to 1.3200

 

[Dentalfloss]

cable
gbpusd
4 hour data
that intense trend downwards that we highlighted some time ago has broken.these cannot be maintained for long periods
some overhead res/red line in the 5220 area

 

[Dentalfloss]

S&P 500 index
15 min.shows the trend that started on 26 feb
supports in at 1554,1550 and 1542 areas

 

[Dentalfloss]

eurgbp 4 hour data
holiday money...lol
we are getting a 3 box vertical count /downwards that looks to be gettin activated soon

 

[Dentalfloss]

dow index 30 min
pole
50% area at 14300 area
wow what a move..these cannot be maintained

 

[Dentalfloss]

eurusd
daily data
a downside vertical count is brewing

 

[Dentalfloss]

hilo already active

 

[Dentalfloss]

dow index
4 hour data
showing the trend that started on jan 1st
some supports showing at 13370 and 13280 areas
lets see if the bulls still control

 

[malaguti]

Evraz double bottom about to take place High low shows new potential downtrend, whereas the close chart believes its been brearish for quite some time. Possible support with the internal

down 25 points (10%) and counting

 

[Dentalfloss]

yay.....
nice one
keep em comin

 

[Dentalfloss]

a closer look at malaguti"s evraz trade
a line chart for all you non believers
see the spike up to res on malaguti"s chart p/f.the last bullish column
we can see that it was a fake and malaguti had timed it well

 

[Dentalfloss]

and an even closer look gives us the anatomy of a great trade
i have widened the chart
still kept it as a line chart as the price action just stares at you in the face
a great trade
enjoy the money
mine"s a very large glass of Chablis