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

[Dentalfloss]

met
this is how the s500 looked to me...before i even went to p/f
p/f can give you wrong signals if used incorrectly.ie..the box size is too big or too small
p/f is just a proxy to analyse a trend differently
therefore..does it look right on the line/candle ??

4 hour line from freestockcharts.com

 

[Dentalfloss]

here is a problem when you use the wrong box size
the breakout point is at the bottom of the consolidation/red line
but...if you look at the candlestick
nas 100/60 min..it is in a different area...much higher
you would be thinking that this must be a high pole and may want to go short
the message is not to confine yourself to a few box sizes and reversals
look at the candle/line for trends first

 

[Dentalfloss]

3 box looks better

 

[Dentalfloss]

nas 100
60 min
shows the trend from 26 june...mainly due to aapl

 

[Dentalfloss]

spx 15 min
do we break higher or do we test the trend ??

 

[Dentalfloss]

eurusd daily since 6 th may
some trends shown

 

[Dentalfloss]

cable daily
freakin out

 

[Dentalfloss]

facebook
4 hour data
since 9th july

 

[Dentalfloss]

fb 60 min
we can see supp and res to that main trend
27 cents by 3 reversal
hilo plot
49.20 res area
47..00 trend supp
47.50 area ..prev breakout point
some people are calling a top...lets see what happens

 

[Dentalfloss]

 

[Dentalfloss]

let that be a lesson to all
never ...call the market
the chart is 4 hour facebook
25 cents by 1 reversal.hilo plot
we can see that price hit the 49.50 res area..then went into a sideways move..but never broke the trendline...then broke higher on friday
the short sellers will have to look harder next time

 

[Dentalfloss]

dax hourly data
bullish with horizontal res in the way
11 points by 1 reversal
close plot

 

[Dentalfloss]

gold 30 min

a line close chart with a 1 ma /simple plotted against the high...as it is an uptrend
so we have got a close plot and a hilo plot on 1 chart
vice versa on ma in a downtrend
note how we got the breakout point nicely marked

 

[Dentalfloss]

eurusd 30 min
6 pips by 1 close plot
some areas to watch on the trend
breakout point was 1.3700 area
we area ta 50% p/b of the internal trend..aqua
lets see what happens

 

[Dentalfloss]

apple earnings coming soon
aapl 2 hour

 

[praveen98]

Hi Dentist007,
I am a trader from India. I am a pnf chartist and using Bulls eye broker 4 for EOD charting...
I am looking for a good real time pnf charting platform as i thought BEB4 can not draw Intraday charts, but to my surprise you are using that for real time charting it seems...how to use BEB4 for real time intraday charting?
Regards,
praveen

 

[Dentalfloss]

Hi Dentist007,
I am a trader from India. I am a pnf chartist and using Bulls eye broker 4 for EOD charting...
I am looking for a good real time pnf charting platform as i thought BEB4 can not draw Intraday charts, but to my surprise you are using that for real time charting it seems...how to use BEB4 for real time intraday charting?
Regards,
praveen

what exchange are you trading ?? Nifty ??
do you have intraday data you can export to a file
if its fx,then amibroker will export the data without any mouseclicks

 

[praveen98]

what exchange are you trading ?? Nifty ??
do you have intraday data you can export to a file
if its fx,then amibroker will export the data without any mouseclicks

Hi Dentist 007,
Yes...i am trading in NSE,India.I do trade Nifty index futures and Nifty options as well. Yes, real time data for Amibroker and Metastock professional formats are available on a subscription.
As of now i am using metastock format data for EOD analysis.
What is the procedure to be followed to upload data to BEB4 without any refreshing or mouse clicks?(for metastock data or amibroker data)...
Please explain...
Regards,
praveen

 

[Dentalfloss]

Happy Diwali
what is the format of the exported data ?
is the export automatic or do you have to click...export data
beb4 automaticlly reads the file as soon as new data comes in

 

[praveen98]

Happy Diwali
what is the format of the exported data ?
is the export automatic or do you have to click...export data
beb4 automaticlly reads the file as soon as new data comes in

hi dentist 007,
i have not yet tried...real time data is available in amibroker and meta stock data formats...with automatic data down loaders.So no need to click...
Can i directly set up the data source from data wizard of BEB4?
If not how to link BEB4 to ami or meta stock real time data base....
Regards,:clap:
praveen