Learning to read Price Action with P&F Charting

dollar index..eod data
1 box reversal
chart is now bullish.going to run into res though

 

eurusd..been trying to find the best box size that give some explanation to the price action.there is no set box size for each time horizon,so a bit of trawling around.
so,imho,this is what the price action is
50 pip box size by 3 reversal...close data plot
daily data input
so price has had a long upthrust column with no follow thru.ie a high pole.price has now retraced approx 50%.this is at a critical point now.if the bulls cannot get support,then the bears will spot the weakness and short it down even more

 

this coincides with dollar index.a high pole now ata resistance area
dxy.daily dat input
0.1876 box size by 1 reversal.hilo plot
so expecting volatility with no clear direction until the dollar index direction gets resolved..imho



dollar index dat is loaded from quotetracker into beb

 

this posts seems very useful for me to read the chart. Thanks

 

tradingplat..glad the thread helps

eurusd hourly data...from begiining of june 2010
23 pis by 1 reversal.squeezed between supp and res.trend is down..so dollar possibly going up

 

trying to get some clues about non farm payrolls on friday
dollar index..daily data
0.1640 box size by 1 reversal
hilo
res is at 83.60 area.dollar has got bullish on this chart
watching the reaction over tomorrow and thursday around the green uptrend line.this line could act as support over the next couple of days.if it does,we could have a clue to friday"s action
so lets see

 

support never held on the dollar
however,3 box vertical count.the target has almost been achieved..black line.support area is well defoned..if it holds

 

this is where we stand on eurusd/ short term..for sunday night and into monday..
trend is up ,uneless a reversal starts
.if it does,at this point .3450 looks to be a good support.it was res on the way up.
if there is a down move.the market will see if 3450 acts as a resistance,that will signify a short term change in trend.
approx 2 weeks data
25 pips by 1 reversal.hourly data input
if we get more upward movement,we shall look for the next support area
#

 

nice orderly price action in the nas 100
hourly data input
6 points by 1 reversal
2004 was res on the way up.if there is a trend change,then could be supp.if trend changes,then look for 2004 to act as a resistance..imho
otherwise look for the next supp,if market tracks higher

 

thanks for keeping up this journal dentist...eur usd