Learning to read Price Action with P&F Charting

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

  1. cable...gbpusd
    4 hour data
    gave us a fake
    now back in support for a bull test


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    #2451     May 17, 2014
  2. Russell 2000..smalll caps
    1% box size..log box
    what a spectacular trend..It can quite easily retrace without too much detrimental affect to the trend
    no wonder it lagged over the last few weeks

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    #2452     May 17, 2014
  3. we can look at facebook
    rangebound now...but waiting to pop
    we can see the overhead trend and horizontal res/red and there is horizontal res up to 74 area
    there is horizontal supp /yellow at 50.00
    the big momma is waiting in the green trendline 46-48 area
    trading this stock..the p/f way....
    1.trade the range until it shows signs of a break.If that happens,then we want to prejudge the breakout point and take positions on the opposite side of the breakout to keep the stop tight.you will need a lower timeframe to do this
    2.once it pops we have the areas where it could bounce or retrace.take profits there and reassess
    a bit of homework done on the desktop..you can use a tablet /phone to assess

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    #2453     May 18, 2014
  4. which way will it break ??


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    #2454     May 21, 2014
  5. SpX areas to watch

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    #2455     May 24, 2014
  6. same data..2 hour
    a much bigger box size
    we can see the two trends that both ended up at res
    Notice the "5" the month character.....price has broken out
    so if we take the width of the latest horizontal count/ orange...that gives us a 2 box target.This is around the 1920 area..marked with a yellow line
    so..in theory we could expect reasonable res in that area

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    #2456     May 24, 2014
  7. DAX over the last year
    2 big moves upwards
    been in a consolidation for the last 6 months...but there is an inkling of a move up to yellow line
    there is a horizontal count which is active
    price is at big horizontal res

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    #2457     May 24, 2014
  8. dax 5 min data


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    #2458     May 26, 2014
  9. 30 min shows the gentle uptrend over tha last 2 weeks

    either we break higher or test the green line at 103.60- 103.80

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    #2459     May 27, 2014
  10. 60 min data showing the breakdown from tight range on 26th may..light purple horizontal
    On this chart ,entry and exits are well defined for short term trades
    price consolidated and then started a new trend /downon 30th may
    we will track the latest trend on 15 min

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    #2460     Jun 1, 2014