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

Dentalfloss

Legendary member
61,557 3,666
cable in the dog zone

 

Dentalfloss

Legendary member
61,557 3,666
eurusd
trying to pump or dump
no break of downtrend as yet
a little trick..if it pullsback...then a sign of strength is price stays above red trendline
horizontal supp marked/purple horizontal
1.1134-1.1176



1.1050 area is trend supp/aqua
 

PaulVic

Newbie
7 1
hi dentist, only just found this blog, looked through a fair amount of it.
I have been studying Wyckoff, De Villiers/Taylor, Du Plessis etc for last year or so but am looking for reliable software/ data provider for PnF. I see you have been using Bulls Eye Broker. Is that still the case/ best in your opinion.
Appreciate feedback update on software and data provider.
As far as PnF goes i am mostly into using it for objectives/targets, have been using CutePnf till now but i am out growing it!
help appreciated
rgds
Paul
 

Dentalfloss

Legendary member
61,557 3,666
Bullseye is the best bang for the buck uneless you want tp pay Updata fees
data
export from mt4
export from freestockcharts.com
you can download End of day from yahoo and google

keep to Duplessis...both books
visual optimization will give the trading signals
targets are only a guide
 

PaulVic

Newbie
7 1
thanks for your quick feedback, much appreciated.
having read a good part of the blog now (and very good it is to..) i think the line i may want to take is the Updata route, I am looking for something that can swap between instruments and time frames pretty quickly for analysis purposes and can provide targets on the fly without having to separately upload data sources/files.
In that regard my queries would be regarding data source, with your (or Malagutis) experience, what would be the preference for data source?
 

Dentalfloss

Legendary member
61,557 3,666
thanks for your quick feedback, much appreciated.
having read a good part of the blog now (and very good it is to..) i think the line i may want to take is the Updata route, I am looking for something that can swap between instruments and time frames pretty quickly for analysis purposes and can provide targets on the fly without having to separately upload data sources/files.
In that regard my queries would be regarding data source, with your (or Malagutis) experience, what would be the preference for data source?
what do you want to look at..??
us stocks
uk stocks
ffx
commods
fixed incxome

??
 

PaulVic

Newbie
7 1
what do you want to look at..??
us stocks
uk stocks
ffx
commods
fixed incxome

??

to start with it would be FX and indices (CFD's), but as confidence grows will move into stocks (either UK or US, depending on where it takes me! i will be leaving options open at moment) to take control of my pension...
 

Dentalfloss

Legendary member
61,557 3,666
to start with it would be FX and indices (CFD's), but as confidence grows will move into stocks (either UK or US, depending on where it takes me! i will be leaving options open at moment) to take control of my pension...


fx and cfd index
mt4 data source the best
 

Dentalfloss

Legendary member
61,557 3,666
think you might have a problem with Updata on that config
 

Dentalfloss

Legendary member
61,557 3,666
from memory..
you had to go into Updata and change settings if you wanted to change timeframe on the same instrument.they night have changed it....but it was a real pain
 
M

member275544

0 0
thanks for your quick feedback, much appreciated.
having read a good part of the blog now (and very good it is to..) i think the line i may want to take is the Updata route, I am looking for something that can swap between instruments and time frames pretty quickly for analysis purposes and can provide targets on the fly without having to separately upload data sources/files.
In that regard my queries would be regarding data source, with your (or Malagutis) experience, what would be the preference for data source?

the best advice i can give with Updata would be to choose your own data source..I'd probably say esignal would be the best one. if you opt for the UK "home" version you're tied to their default data provider and I had issues with that data. esignal I've never had issues. Another trader I knew using Updata had a "world" edition or something like that so he was able to choose his data source. you should check this out before committing to anything with them

that said, there is no doubt P&F is absolutely fantastic on updata. but as Dentist says, it is expensive. personally im happy to pay that extra though
you can easily change timeframes, templates with different/multiple timeframes etc. if you have the data subscription you can get whatever you want.
generally the fees are different depending on stocks, currencies and then indices is a small addition on top again
its not cheap. but the quality of the product is fantastic.

I don't use updata at the moment, in fact i don't use P&F. I'm happy with a strategy i developed and haven't needed to go back. however i am always on Dentist's threads and look in envy at what is the simplest, cleanest and most objective view of technical analysis I know. forget trendlines as you know them until you've used the P&F method. like everything it does have its pitfalls though
I've seen your PM, I'll expand a little bit more there
 

f2calv

Experienced member
1,317 278
to start with it would be FX and indices (CFD's), but as confidence grows will move into stocks (either UK or US, depending on where it takes me! i will be leaving options open at moment) to take control of my pension...

I wrote some p/f software last year [which I had to mothball over the Xmas period], consists of a website and a locally run program (a Windows console application).

It doesn't need any fiddly data imports, and can calculate hundreds if not thousands p/f charts in real-time :innocent:

It currently takes it's data from a spreadbet provider which yes I know isn't true market data - but when you are generalising down to bigger box-sizes and looking for trends the picture it gives is plenty good enough. Other data providers could be plugged in - as long as they have an API feed.

I'm surprised Dentist didn't try and sell you my app, maybe he gets better kickbacks from bullseye? :cool:

If you or anyone else is interested in trialling it out let me know - note it'll take me a couple of days to boot it and my brain up again...

 

PaulVic

Newbie
7 1
many thanks chaps, your feedback is greatly appreciated.
Will be giving the Updata/Esignal route a trial run. Dont mind paying £100 per month however think i may need to run to £250 per month (for enhanced Updata and Data) which may be a bit to much. Spent some time yesterday running through the Updata videos and must admit it does look impressive, if i have to upscale to the pricey option will certainly have to earn its keep.
again, feedback appreciated, will let you know how i get on.
 

PaulVic

Newbie
7 1
I wrote some p/f software last year [which I had to mothball over the Xmas period], consists of a website and a locally run program (a Windows console application).
....
If you or anyone else is interested in trialling it out let me know - note it'll take me a couple of days to boot it and my brain up again...


that looks interesting, i would be interested in trialing. using the data you mention, how much history can you get? note the screen shot mentions august last year but obviously i dont know when the screen shot was taken. if you can get 6 to 12 months that would be very useful. I dont use PnF same as these guys, i am only really interested in the PnF count for identifying possible targets.
Following on from my last blog, if this works for me i would probably still use Updata for day to day but your program may allow me to take the cheaper £100 option then use your program for long term PnF counts.
 
 
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