Learning to read Price Action with P&F Charting

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

  1. spot gold 15 min over the last week shows 2 trends
    $1.30 box size by 2 reversal hilo plot
    note the 1244 pivot..horizontal red line
    needs to stay above 1250 areato maintain that new uptrend
    1261 trend res/purple trendline
    lets see what happens

    [​IMG]
     
    #2381     Jan 24, 2014
  2. lol...the 1261 minor res got blown out within a few minutes
    lets look at the bigger picture
    15 min data from new year
    2 uptrends..green trendlines followed by a consolidation
    then a fake / a breakout above the horizontal red line...shorts quickly sent it back into the supp area
    then on 23rd/thursday the start of a new uptrend which then broke higher
    emerging market debt possibly the reason for a true break and not another fake
    so now we have a true uptrend to tack
    fakes can be very profitable...dont seem to see them that often

    [​IMG]
     
    #2382     Jan 26, 2014
  3. OUTLOOK FOR NEXT WEEK
    we go back to that latest uptrend and track it on the 5 min
    areas to watch for signals
    1.could break higher..light purple horizontal res at 1272 area
    minor res /red horizontal at 1269
    prev breakout point 1265 area thick dark red horizontal with trend supp
    then a bigger confluence area at 1257 area..trendline and horizontal lilac lines
    lets see
    [​IMG]
     
    #2383     Jan 26, 2014
  4. update to our spx futures chart
    lol..that support did not last long
    another sweet spot underneath at 1764 area brewing
    [​IMG]
     
    #2384     Jan 26, 2014
  5. be careful with cable shorts
    [​IMG]
     
    #2385     Feb 2, 2014
  6. eurusd approaching a big bull test
    prev breakout point and trend support
    1.3420 area down to 1.3380
    1.3600 res
    daily data
    [​IMG]
    enjoy the superbowl
     
    #2386     Feb 2, 2014
  7. well.that supp on cable did not last long on cable ...lol

    [​IMG]
     
    #2387     Feb 4, 2014
  8. spot gold
    outllook for next week
    30 min data tells us a few secrets
    trend gets tested at 1253 area /green trendline
    1246 area and we get the beginnings of negativity
    res is horizontal red at 1274 and look left at 1288 area/orange horizontal
    these are areas to take signals from..uneless big news and these break

    [​IMG]
     
    #2388     Feb 8, 2014
  9. eurusd 4 hour
    a couple of minor downtrends since the new year
    February is bullish and we have now a minor breakout
    plenty of horizontal res above
    [​IMG]
     
    #2389     Feb 8, 2014
  10. apple 30min
    in a sensitive zone

    [​IMG]
     
    #2390     Feb 8, 2014