P+F

[oatman]

I don't think you boys are getting full use out of P+F
These are entry signals for Ftse Future today. Exit points are obviously discretionary.
1 min. P+F 3x3 hilo, H Ftse Future Real Time,
08.12 Sell 3555
09.41 Buy 3561
11.07 Sell 3576
13.30 Buy 3591
14.38 sell 3594
16.07 Buy 3573
Check these against your 1 min. Bar chart and see how you would've got on. Exit points depend on how much you're prepared to let it run against, how bored you get holding a position or maybe how impatient you are to get down the pub. There is a method for counting objectives from the break which I use for longer runs.
The last trade will reverse at 3555 and go short - not looking too clever at the moment. Who knows?
Some days you can get badly beaten up on false breaks, so close stops are required when momentum fails.

Happy trading,

 

[JonnyT]

All well and good, but...

The important bit is where to take profits, or losses.

Something you didn't really describe.

I've attached todays 3x3 FTSE PnF chart

JonnyT

 

[zambuck]

Oatman

Know you from Updata site....good posts from you...

Adding on from JonnyT's post, please 'describe' the method...meaning how did you determine entry/exit points...what method did you use...was it kermit zeig?...was it your own method...was it wykoff..????

regards

 

[oatman]

Hello Zambuck, nice to see you; nobody wants to talk on Updata, probably all pissed off busy looking at bad data. That's why I'm here.You get a response. Very chatty here.

This is just straight forward P+F.There's no secret.The signal comes when the line of Xs or Os exceeds the previous of the same.The smaller the3 box ie. 2.5x3 or 2x3 the more sensitive it becomes, so more signals. The more sensitive it becomes the more whips/false breaks you'll get. You've got to adapt to the market you're in. It works on everything.
Jonny T, you want to know where to get out. The signals I posted give ample room for all types of trading style. You can nick 5 or 10 points or try to run it with a trailing stop. That's the game - anyone can get "in", it's what you do WHEN you're "in".
The 1st signal shorted at 3555 down to 3538 retraced back to the break point-ish 3558 and dropped again to 3534.5. That looks like plenty of opportunity to me. Two bites of the cherry if you like! Next one was buy 3561 straight up to 3579 back to3568 up to3577 down to 3566.5 up to 3597.5 so you were always in profit. That's got to be enough opportunity! Those 2 trades should give you a free day. I'm not trying to say that it's all roses. Today's signals were pretty good. You get days when it really f***s you. You're stopped out all over the place. If it don't wanna go nowhere......well. P+F is all about sideways sideways sideways - BREAK. You don't need to know why, only that it does and will.
Objectives can be obtained by counting across the pattern, multiply by the box, then by the reversal. They're not always accurate but give you a starting point to aim for. As I say, once you're "in", you're on your own.
Set a few charts up and have a look. It works......

Good luck,

 

[oatman]

Jonnytits,
Just looked at your P+F. Looks like a bar chart.

 

[JonnyT]

Just looked at your P+F. Looks like a bar chart.

Its just how Sierra Chart displays PnF.

Takes some getting used to.

JonnyT