anyway,something noted from the price action.at this point it is more important to trade from resistance / short..support is really not known in these turbulent times see arrow from this morning"s price action.price up at resistance..got quickly shorted down.seems to be happening on most days in the european session.so just thinking..better not to call support areas.better to look for resistance areas imho eurusd..10 min
hi pogressa.glad you are learning basically,what i am trying to do iss show meaningful price action on the chart,so it means that i have to be nimble and discard the ones that show me nothing new.so by varying time imput,box size and reversal,you are tryi get a picture of the price action
Ok, I see, thanks for that. If you don't mind, one more question - and sorry if this is more like babypips, but there aren't many decent forums for P&F. How do you get these box sizes? 13, 8, 9, 43 etc... do you calculate them from ATR, some previous large move, fibs or some other measure? It's just that they seem random (although admittedly they seem to work fine!) From reading through this thread from the beginning I've toggled my chart from anything from 0.5x3 to 25x3 but it's difficult to know which is appropriate. I have to say, even 1x1 looks quite good to my eye at the moment - although I realise that's probably negating any value of using P&F - but it does seem to offer a decent smoothed version of what's happening (intraday that is) Thanks, progressa
well,i got the euro wrong.it bounced,early in the week,on news of ecb intervention and then on non farm payrolls however,now the chart looks interesting a high pole in a downtrend...this could be a dead cat bounce hourly data input 32 by 3 reversal pleanty of resistances around.a couple of vertical counts have been put on. stocks bounced in line with eurusd chart this week chart date is from beginning of august 2010
dollar index etf..uup bullish etf on usd 2 weeks of data on this chart dollar went billish on tuesday.note,lots of uptrendlines/green.the bulls soon got in when it pulled back broke the res at 23.20 area,now gone back in for a test as a support looking like a gap down on the indices for monday,uneless other news comes in
hourly data input 32 pips by 3 reversal hilo plot 3 months of data eurusd lets see if this support holds and thea new uptrend is happening.could be a bounce in a downtrend.certainly in a resistance area now
a prosperous new year to all may the volatility be with you the euro will certainly provide it this year...nobody knows the end game
cable hourly data input.4 months of data 50 pips by 3 reversal hilo plot downtrend......now look at the consolidation and the support at 1.5400 so nfp tomorrrow.i have drawn a trendline/blue,from the latest low .to see the reaction,if there is strength or weakness in the dollar..