codetroll the 9400 was calculated by the number of boxes from the 7400 bottom.multiply by 3.then add it on to 7400 we could actually take another count from that latest breakout column.i willlook at this later the cpb trade.i think that might have been a good decision.these long poles,when they reverse can be a sign of strength
stevegee58 i drill teeth part time only now.i should really give it up,i make alot more from p/f charts than i ever did from dentistry.however,with daytrading you dont get to meet too many people.
codetroll i forgot to add. dont look for any short positions until you have confirmation that the trend has reversed.if in doubt,use what is on holygrails synopsis for picking out reversals.so on the hourly 50 point dow,we are in an uptrend.the market numbers/read correctly will give you confirmation of any reversal
dentist007, Do you have any thread you can point to that summarizes your current trading via P&F? If not, would you point me to any other threads or URLS or books? Regards, John
Hey Dentist or anyone else, I was looking at the P&F charts and I noticed the downward movement today. http://stockcharts.com/def/servlet/SC.pnf?c=$INDU,P Would you say that it's a minor pullback, not sure the "O" columns did a 50% retracement. To me, it looks like it didn't have a 50% retracement, the move might not be over, but if it were to begin another X column, wouldn't that be considered a sign of strength, that it didn't reach 50% yet? -troll
Just felt like posting something I saw today. MSFT - sell signal? perhaps. coincides with 3 different box sizes. .1, .25, and .5. ~ 2 weeks worth of data, intraday. Didn't trade it, why? Felt the market was low and might get a rally back up, making this a false breakout.
New it. Market wasn't reacting very well to the negative job news, felt like there would be a rally, sure enough. http://img148.imageshack.us/my.php?image=msft1ptzm1.jpg .10 point box, 3 box reveral. 3.3% gain. Didn't get in either, already made money today in Intel. Felt like posting. Working on devising a way to use these thing intraday more accurately. One thing I've noticed is to get in at the first reversal sign, 3 box rule. Usually would capture at least a 1 box movement, almost regardless of what goes on. Haven't figured out a way to measure magnitude though. Still working on it. -troll
I'd look to get short msft if it reached the previous 2 tops and then began reversing down again keep posting, I'll try to post some charts soon myself good job on the trade though