Learning to read Price Action with P&F Charting

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

  1. 60 min
    back in the poop zone
    first bull test...testing prev res at 99.40 area
    [​IMG]
    lets see
     
    #2371     Dec 30, 2013
  2. a higher box s
    15 min datai just to show where we are
    alot of price action is compacted
    10 december high to 20 dec supp
    we are now at trend supp with horizontal supp below
    note the move upwards just to test prev supp..that became res/light purple horizontal in 1216 /1218 area
    so..next moves
    a test of supp or break to test prev horizontal res..then above trend res at 1232 area
    there will be other moves that test prev horizontal s/r

    [​IMG]
     
    #2372     Dec 31, 2013
  3. spot oil 60 min
    [​IMG]
    triangle ready to pop
     
    #2373     Jan 13, 2014
  4. eurusd daily
    40 pips by 3 reversal hilo plot
    shows horizontal res
    trend res at 3760/red
    trend supp at 3560 area/green
    things start to get nasty at break of 3520 area..a double bottom in orange horizontal area
    [​IMG]

    now if we go to same box size but 1 reversal and close plot
    we can see the horizontal supp at 1.3600
    trend and prev breakout point at 1.3520 area
    also 1.3560 is beginning of trend supp
    1.3800 horizontal res shows nicely
    [​IMG]
     
    #2374     Jan 17, 2014
  5. cable/gbpusd just before retail sales news
    price had been pushed down to horizontal and trend supp
    1.6458 res/red
    price shot up to this level when news announced
    [​IMG]
    there is na possible vertical count that might get activated at a test of 1.6300 area
     
    #2375     Jan 17, 2014
  6. aussie dollar gettin hammered
    well....more hammering or a test of res
    so..first port of call... TEST OF PREV SUPPin 8850 area/purple horizontal line/a prev breakout point
    audusd 60 min shows the downtrend since october 2013
    35 pips by 2 reversal..close plot
    lets see what happens
    [​IMG]
     
    #2376     Jan 19, 2014
  7. outlook for next week
    5 min data$2.5 box size by 3 reversal
    close plot
    trend cluster/green in 1235 area..trend supp
    underneath there is horizontal supp going down to 1220
    there is horizontal res/red at 1265 area and 1295 AREAS
    there ia a double-top at 1255 area
    lets see what happens...lots of horizontal supp areas down to 1180
    [​IMG]
     
    #2377     Jan 19, 2014
  8. gbpjpy 60 min data showing the latest uptrend
    testing trend res now
    lots of horizontal supp and res on lower box sizes
    we are looking at the bigger picture to see if there is weakness in gbp
    we dont make forecasts ..just track the price
    [​IMG]
     
    #2378     Jan 19, 2014
  9. spx futures 60 min
    either ..we break higher..or there is a real sweet spot underneath/prev breakout point 1813 area
    trend supp and horizontal aswell
    [​IMG]
     
    #2379     Jan 19, 2014
  10. spx futures
    same box size...but changed the reversal to 2 from 1
    hourly close

    we mentioned the sweet spot..we are now in that area.need to below
    trend supp at 1799 area if 1813 area fails
    [​IMG]
     
    #2380     Jan 24, 2014