Learning to read Price Action with P&F Charting

s&p 500 still looking bullish on the 1 box chart.bullish up to 1395 area

 

dow rallying to resistance in an orderly fashion

 

I have to agree. The 1414-1420 area is very critical. I don't think there is any doubt we will test those areas before we ever test a new low.

 

Dentist

What are the small squares and retangles on your charts?
Do they have any signifigance?

 

small squares are gaps

 

Interesting. Never seen gaps displayed on P&F

Does your charting program put these in or is this something you have added yourself?

Do the gaps have any influence on your decision making?

 

charting program has the option to display gaps

 

Hey guys,
I've been trying to keep up this great thread, and on Thursday I started experimenting with P&F setups for both intra-day and swing/position trading.

What do you guys think of these entries:
XTO at $63
MT at $83 <-- Late on the longer term breakout, was planning to trade this intra-day but decided to keep it

What do you guys think? I'm starting small, just bought 2 calls for each of these.

Great thread guys!

 

XTO looks good. Because of my rules I would not have purchased it until it reached 65, but you have a strong stock with great relative strength.

 

xto.there is no breakout signal as yet.you might be able to go down to hourly data.but on my time horizon there is no breakout as yet.