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. ?
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 the reversal?
Yes the support looks great as it touched at start, middle and towards the end before braking and price crosses it
In this case , what we do ? we could wait and see how price develps, like further dips down, then as you said this supp can become a resistance, OR price can move back on the main...
In other words the main support that is visible on 1.3%X2 showing bounces at the early time period and then only at the current time period for few bounces is mapped better on the 2%X3 chart. In the 2%X3 chart, the second last support is the one which appears as the main support in 2 box...
Please find attached several higher boxes chart.
There is a 2 reversal box attached too which looks having a single external good support, but i wa kind a shifted towards 3 box reversals only. So do tell me your opinion about 2 box reversal, can i trade using 1.3%X2?
I would like to know how you guys would trade this symbol in future, what would you expect the columns to make from this point onwards and when do you enter and why?
Of course I HAVE given my point of view but if you take the simplePF chart attached, how would you go about it in future...
Thanks to ISATrader, am going through the lessons on the website pointed by him. As I am learning thru the PF analysis, I have the following questions aimed ONLY to assess the credibility of the double top buy signal.
In the chart for 8280-SAU, I have plotted the 5EMA and 21MA
So I will refer...
You mean to say that the chart with smaller box size says next target to
achieve as 9550, while the chart with a larger box size has had a target
7900 not achieved, so how come the 50 box suggests a target past the 7900?
The current price is 7870.
The chart of 100 looks tending enough as an up...
I tried that but not able to make a sense out of it.
For example when I plot a pf chart of a stock or a sector. Then choose to plot Rel Str from the menu, it gives me options like plot RS as line or P chart. When I choose PF chart , then it actually draw the same pf chart again, no comparison...
I have never used relative strength in PF charts. What I understood from relative strength analysis is that you plot the stock against the main exchange and find out if the stock is above or below (close line), thereby assessing the stock's relative strength with respect to the main exchange...
That's what I thought.
And there is a bullish H&S pattern as well before the last break out.
I have a couple of questions.
1. I can draw the support and resistance but it is a manual process or a visual representation by looking at the chart where your eyes will see those support and...
This is an intra-day strategy.
I wait for the break of the 45 resistance and then enter long at the points marked arrow.
my stop loss would be the double bottom
Anythin to add here?
In other words, if i have two charts giving buy signals, I will favor the chart which has had longer X columns and that too formed in lesser time(low box to high box time).