Learning to read Price Action with P&F Charting

Discussion in 'Strategy Building' started by HolyGrail, Mar 22, 2008.

  1. emotions
    you also have market profile on updata
    do the p/f breakouts ever respond to the market profile signals ??
    do both give signals in the same place ??
     
    #1851     Aug 6, 2011
  2. gold...
    this is a chart of the spot price
    hourly data $3.50 box size by 3 reversal.close
    no sign of a reversal downwards as yet

    [​IMG]
     
    #1852     Aug 6, 2011
  3. how to get data into bullseye from freestockcharts.com
    1.right click on desktop and create a new file.call it freestocks
    2.go to freestockcharts.com and put up a chart.go to the icon which says export data
    3.export the data and save it in the file freestocks
    4.only export the price history
    5.you must give a name to the saved file...say spx 5mins.if it s500/3 mins
    now you have the data in youre file ready for bullseye to read
     
    #1853     Aug 6, 2011
  4. bullseye
    you will need to set the file format
    here is a screenshot of the setup

    [​IMG]
     
    #1854     Aug 6, 2011
  5. bullseye..
    now you have the file which has the data and bullseye setup to read the data
    finally...
    go to the data wizard
    click next
    select data source
    click on "i have data in text or excel files
    click next
    right click on the side button and find the freestocks file
    text file format: find freestocks text file format as per the screenshot
    click next
    and finish
     
    #1855     Aug 6, 2011
  6. bullseye will need some adjustments first
    1.make the default box size as 0.2%.or near equivalent.this will cater for intraday data
    2.unclick the relative strength .this can be added on later
    windows 7 will need to make an adjustment to the timing
     
    #1856     Aug 6, 2011
  7. here are the changes needed for windows 7
    Windows 7
    settings. Try to go to the windows Control Panel, by clicking the
    start button, then Control panel, then select "change keyboards or
    other input methods", then click the "Formats" tab. Under short time
    and long time select the appropriate ones. You will see examples at
    the bottom of the window.

    You can also go to "Additional setting" button in the same screen and
    click the "Time" tab. Here you can remove the AM/PM symbols.

    you will have to restart your computer
     
    #1857     Aug 6, 2011
  8. here is the file format set up from dukascopy

    [​IMG]
     
    #1858     Aug 6, 2011
  9. now if you want to practice day trading using p/f charts
    try loading data from freestockcharts before market opens .do youre own anlysis on bullseye.then go to dukascopy they have free p/f charts for fx.time inputs are just 10sec,1minute,1 hour,daily.these update continuously with live data.then you can update bullseye when you need to see anything that might look interesting.for indices and certain stocks, livecharts.co.uk have free intraday charts/updating live.same thing.10 secs,1 minute
    this is a great way of practising,which costs nothing
    on the right hand of th chat click on options.then on candle,change it to p/f
     
    #1859     Aug 6, 2011
  10. cable..gbpusd
    a safe haven..gbp is now seen as a safe haven.
    hourly data
    29 pips by 3 reversal .closed
    note long thrust columns from the 1.5805 bottom.some res at 6470 ish..but up we go

    [​IMG]
     
    #1860     Aug 6, 2011