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

[Dentalfloss]

then if we look at the same chart...1 box reversal
we get a nice trading signal to go short
the 1 box horizontal count target was hit

 

[Dentalfloss]

eurusd
10 minute dat29 pips by 1 reversal
support areas are shown in green,horizontal lines
resistance ..red horizontal lines
approx 3 weeks of data
you can make a healthy income trading from those pivots

 

[padnoter]

Hi Dentist,
Great thread & thanks for the tip on the du plessis book.
I use etxcapital (it-finance charts), but I think they are incorrect.
Wondered if anyone else had noticed? and/or agree with me?
If you look at the screenshot below, the high of the 14:25 candlestick bar is 1256.6
The P&F is 0.5x3 (5m H-L range), but the highest X column is 1255.5 - 2 Xs missing?
Actually I think there are quite a few columns missing.
What do you think?

Has anyone found problems with ETX and/or IT-Finance charts?

(or have I made a mistake in how I think P&F charts are constructed??)

Cheers
Padnoter

 

[Dentalfloss]

dont bother with it-finance p/f charts
if u want to get serious then get bullseye $99 one off payment.data is free

 

[Dentalfloss]

S &P 500 index
30 minute data
4.00 points by 1 reversal..close
care with shorts
a bullish chart.good support at those double trendlines

 

[padnoter]

dont bother with it-finance p/f charts
if u want to get serious then get bullseye $99 one off payment.data is free

thanks for the reply.
looks good, but i'm not on windows (ubuntu), and couldn't see an easy realtime data feed option (tho' i can see V5beta does?).

When you said "data is free" - did you mean EOD yahoo type?

 

[Dentalfloss]

thanks for the reply.
looks good, but i'm not on windows (ubuntu), and couldn't see an easy realtime data feed option (tho' i can see V5beta does?).

When you said "data is free" - did you mean EOD yahoo type?

data is free either from yahoo or freestockcharts.com,or dukascopy
also you can export data from quotetracker

 

[Dentalfloss]

an update on the chart that was posted last weekend
price broke down from the double trendline support.down to to the next trendline supp area.then a minor rally ,possibly for option expiration last friday

 

[Dentalfloss]

same data input
3.50 by 2 shows price action more clearly
note res area at 1240
santa rally has to break this first

 

[Dentalfloss]

eurusd
120 min data
latest down move has not retraced up to 50% as yet

 

[Dentalfloss]

s 500 index
30 min data
2.50 points by 3 reversal....close
the latest break from 1240 has not retraced/the latest upthrust is unsupported as yet and is in a res zone
so 1255 is the 50% zone if the bulls fail

 

[Dentalfloss]

s500 index
30 min resistance
an upside break or a failure at resistance
nfp failed to take it higher
so lets see

 

[Dentalfloss]

eurusd
4 hourly data
28 pips by 1 reversal...close
we can see the nice downtrend since beginning of november
has it made a bottom ????
the latest pole/low...the 50% area is approx 2800 area.
otherwise down we go on break of 2700 area

 

[Dentalfloss]

eurusd 4 hour data
oversold ??

 

[Dentalfloss]

now...we want to see if eurusd is possibly starting a rally
10 min data
10 pips by 1 reversal

note..there was a trap before nfp.market rallied higher before nfp.then broke after nfp..green line
th last signal was bullish/blue line.a recoilresistance starts at the lowest internal trend line approx 1.2750
so price has to stay above 1.2750 area to mintain some sort of bullish action
imho

 

[Dentalfloss]

s500 index
10 min data
a nice breakout,followed by a tst of 50%/pole zone

 

[Dentalfloss]

500 index
the first sign of trouble will be a test and a break of the blue trendline
30 min data...3 point box size by 1 reversal

 

[Dentalfloss]

s500 index
hourly data..10 points by 1 reversal#euro downgrades have not had too much effect on the index
there is a major supp area 1270-1280.the top two trendlines being close together.if that breaks then 1250 trendline area

 

[Dentalfloss]

nasdaq100 index
hourly data 12 points by 3 reversal
the latest breakout has not pulled back
could be vulnerable

 

[Dentalfloss]

a closer look at the latest break on the nas 100
same box size
1 reversal now
we can see trendline supports and the previous breakout point