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

[Dentalfloss]

it just keeps dumpin

great stuff

 

[Dentalfloss]

cable 4 hour data..30pips by 2 reversal.shows the downtrend that started in jan 2013
knocked back at res...lets see if nfp will break the downtrend
plenty more res above

 

[Dentalfloss]

eurusd..is this a reversal brewing
trend gets tested at 1.2880 area
4 hour data
38

pips by 1 reversal

 

[Dentalfloss]

dow index
30 min data
shows the trend that started on 25 feb
20 by 1 reversal
red line supp is 14580,which just got hit
next supp14540
then14500
then 14360

 

[Dentalfloss]

bt group
price is coiled/tight range
gonna pump upwards ??
or test the 272 area/trendline cluster.nicer if we test 272 cluster first...see if the bulls still want to party
a nice /wide horizintal count there
lets see what happens
daily data for the last 6 months

they cut our phone line off 4 times in 1 month...crazy stuff

 

[malaguti]

bt group
price is coiled/tight range
gonna pump upwards ??
or test the 272 area/trendline cluster.nicer if we test 272 cluster first...see if the bulls still want to party
a nice /wide horizintal count there
lets see what happens
daily data for the last 6 months

they cut our phone line off 4 times in 1 month...crazy stuff

funny, on my watchlist also. yesterday it made a new high and just prior to the close price came back and so the buy was gone. Good job, this is going down to 240 ish. I hate BT, but I've moved to warwickshire for work and thats all I can bloody get!

 

[Dentalfloss]

update to the cable/gbpusd that was posted a couple of days ago
we got a 200 pip bounce from that trendline support

 

[Dentalfloss]

update to the eurusd chart posted a couple of days ago
the trend on this chart/down is broken
but we go to 2 box reversal and the picture is not confirmed as yet..maybe nfp might do this
massive overhead res at 1.2996 area/trendline cluster

 

[Dentalfloss]

update to our 30 min dow chart

malaguti..you were right about bt group
it is almost showing a classic failed signal.i will post it when the pattern completes
i dont trade uk stocks,but was interested as investors intelligence/chartcraft had a position and was following that

 

[Dentalfloss]

ok...so anybody a bit unsure on how we trade
we look at the dow,staying with the 30 min data
we move around box size and reversal
look what we come up with
we could trade from the 50% of the high pole
or...for the nervous ones ,thenjust look
1.break of uptrend /green line..that minor trend that started on 25 march.price was in a consolidation,which was even better for us..tighter stop
then we could take the first breakdown or for a better ride...then the second/purple line
all the bullishnes on that minor uptrend had been taken out by then
keep it simple.no indecators etc etc

 

[Dentalfloss]

take care with those ftse short trades
we have only tested horizontal support
6230 area is horizontal and trend support...aqua and purple line confluence

Ftse 100 index
daily data 35 pts by 1 reversal

 

[Dentalfloss]

dow watching
test of resistance at 13595 to 13630 area/red line
see if the shorts come in
2 hour data
35 points by 2 ..close plot

 

[Dentalfloss]

eurusd daily data
6 months data loaded
there is a potential count column/upside vertical count being formed..the red arrow
this can fail.then we go back down

 

[Dentalfloss]

malaguti
evraz..great stuff
that downtrend has now got intense
see the red and then the change to blue
these cannot be maintained for long..imho

 

[malaguti]

malaguti
evraz..great stuff
that downtrend has now got intense
see the red and then the change to blue
these cannot be maintained for long..imho

indeed, 20% drop with minimal risk..got to love that:clap:
I'm now switching to lower timeframe hourly 1% not looking too bad
at this point its not the biggest deal, its just to give me a good exit and still hold on to any profits

 

[Dentalfloss]

cable...could be in for a nasty surprise in the 1.5500 area

daily data
35 pips by 1 close

 

[Dentalfloss]

Evraz.......sheesh.....that stock just keeps dumpin
i never realised it was an Abromovitch company
get the bubbly out !!
you have earnt it

 

[malaguti]

Evraz.......sheesh.....that stock just keeps dumpin
i never realised it was an Abromovitch company
get the bubbly out !!
you have earnt it

cheers buddy, re-targeting 150 now for a 40% drop!

 

[Dentalfloss]

sheesh.....kebab
it just keeps dumpin

 

[malaguti]

S&P, testing support both horizontal and rising
5x2 high low