Hi Dentist, What are your thoughts on BEB5? Did you use it? Any reason why you don't switch from 4 to 5? Thanks, Slainte
Hi Slainte I mainly use beb4.i dont have a real need for continuously updated data.that I can read in pf because in low tf ----p-f can crowd the chart area.you can do nearly the same job with netdania for intraday and prorealtime for eod.both are free Iif you use metatrader, you can get many tf.using period converter beb5 is great. learn to spot those breakout points on line and candle trend analysis is best in pf
you can download eod data from yahoo you can export eod and intaday data from freestockcharts.com put them in a file.beb will then read them my point was that if you practice with line or candles you can get breakout points and trends quite easily without having to resort to p/f.You can use Prorealtime for eod and netdania for intraday to practice.Both have lots of timframes.Horizontal supp/res can vary with the timeframe what you want to find 1.breakout points..ie that is the same as a double/triple top breakout 2.trends.carve up the chart into bullish and bearish sections using trendlines 3.Move around the timeframes picking up those different horizontal supp/res area By doing this you are emulating the process of changing the box size and reversal in a p/f chart do not load too much data..say 2/3 trends max dont have the candles/bars too close together.You will be creating a sort of p/f based chart by doing it this way With any chart....the most important...is trend.So always place trendlines on first and carve it up into bullish and bearish sections.Hence,as i said..no need to load too much data It will make life easier and more profitable for you..imho
do you need p/f to read this chart ?? to all... so much depends on how much data to load up on to the plot area of the chart as to how you interpret the chart imho
some areas to watch 30 min data 1293-1296 ..alsothere is horizontal res all the way up to 1305..trendline cluster/purple looming above trend support/green at 1281 area horizontal supp 1275 area
dax looks bullish for the open on monday trend support/green 9390 area 9450 trend res /orange plenty of horizontal s/r around