dow..hourly showing a very bearish scenario in price action 70 pts by 3 hilo plot.the last top broke down witha triangle.now there is a low pole.the green line is whre strength could show.an active downside vertical count to 8500 area.lots of support areas between 10000-9000.balck line/horizontal on the left..there were lots of column direction changes in that area on the way up.could be the same on the way down.lots of overhead resistance lines.this chart has turned nasty in the last few days
the reason in p/f terms to say the chart had got very bearish i increased the box size to 80 points to condense the price action.the top that was made on 14 jan 2010/where you see 14 on the chart.the downward column afterwards never had a vertical count activated.however,if we look at the top from 23 april and downward column,starting with 4.there is an activated downside count 8400 region.this got activated on thursday lots of support areas between 9200-10000
eurusd hourly 28 pips by 3 reversal hilo plot price has a possible 100 pips to go before it reaches major resistance/the main downtrend line.we are at the 50%retrace from the latest low pole breakdown.also the bounce from 2180 area there are a couple of bearish downside counts ,and also one upward,just about intact.it looks to be one hell of a move to break that resistance
To HG or any other Investor RT users -- what exactly does it mean to set your P&F chart to a period of "1 minute"? Ninjatrader 7 (beta) also does this. I thought P&F charts did not have a time variable. Here's a link to what I'm asking about: http://www.linnsoft.com/tour/pointandfigurechart.htm Thnx
There is no time element when tick data is used. When tick data is not available the next best thing to use are one minute charts. This is time being forced upon you, but often it provides a different perspective that could prove helpful. I like to use different time periods to develop targets. You can often find meaningful targets by changing the time period and making comparisons.
eurusd.hourly data 28 pips by 3 reversal about to hit a brick wall from a breakout of a triangle .these can backfire and blow youre head off
eurusd...what is next for the markets do we get a rally from the bullish support line/blue or do we get a downside breach ....?? 20 points by 3 /close/hourly
tin hats on for this one..eurusd chart just turned ultra bearish no wonder the stock market sold off today eurusd ..hourly data 28 pips by 3 reversal .close plot there are no bullish upside vertical counts,there are only downside ones/black lines /vertical there is an inkling of an upside vertical count.the latest up column.below the purple line/vertical.we need to see if this gets bullish,otherwise,it get fully bearish from that possible upside failure lets see how this plays out not good for stocks
a higher box size..38 pips by 3 /close..hourly a well defined support area.a new upthrust column is starting to build . so too early for a fully bearish picture as yet