Best Thread learning to read price action with p/f charts

[malaguti]

Tracking the latest breakout here...

 

[Dentalfloss]

Tracking the latest breakout here...

ok,,u got it
those trendlines are right on the chart
so..scalp long until a break..thats all you can do

 

[Dentalfloss]

spx 2 hour data
areas to watch
especially 1446..trendline cluster
at a res now... so we watch any retrace for change in trend

 

[Dentalfloss]

a better chart of the spx
4 hour data
2 trendline cluster areas...if it breaks down
1.1440 area
2.1420 area
lets see if the res area holds

 

[Dentalfloss]

eurusd 30 min data
10 pips by 1 reversal.close plot
trend that started on 30 sept
let"s see if it holds

 

[isatrader]

There's potential for a shakeout pattern on the S&P 500 with horizontal price supports one and two boxes below the double bottom breakdown level below 1430.

The closest largest volume support level is in the 1400 to 1410 range, so any break below 1400 would be more significant imo.

10pts by 3 box reversal plot

 

[Dentalfloss]

eurusd..update to that 30 min chart posted yesterday
.we wondered if that uptrend could hold
it did not,and we got a good signal to go short at the break of the trendline
horizontal red line

 

[isatrader]

Good stuff dentist on the EUR/USD. Here's a percentage chart of Apple. 1% box size by 3 box reversal with the short term trend lines added. It rebounded from the trendline today but needs to get above 645 to go back to Xs. Be interested to see one of your 1 box charts dentist as I think Apple is an important driver for the broad market direction.

 

[Dentalfloss]

ao now we track that downtrend
box sizes do have to be adjusted as each trend has its own range volatility
7 pip reversal in this case seemed to show the best bits of information
note how the fierce downtrend/red line has ended and price has retraced into resistance
a possible new uptrend in the making
lets see what happens

 

[Dentalfloss]

aapl 30 mins data
tracking the downtrend from $700 area
$2.00 box size by 1 reversal

 

[isatrader]

aapl 30 mins data
tracking the downtrend from $700 area
$2.00 box size by 1 reversal

Thanks. The short term downtrend lines are very similar to the percentage chart positions. But that low pole reversal yesterday on your 1 box chart gives a good view of the intra-day price action.

 

[Dentalfloss]

low pole reversal
yes...could be
you see quite a few of them /intraday
seems to be the main aim....think that market makers drop the price to test the support
thinking that the real test is $650 res area
now you have the supp area $625 ish and the overhead res. $650 ..easy now to track the price
both areas look reasonably important

 

[Dentalfloss]

spx 15 min data
downtrend is still in play from the 1470 top
looks to want to make another pop at resistance
lets see what happens

 

[Lax_Van_Dumb]

I agree

 

[Dentalfloss]

lex...good to have you onboard
isa..a better chart of aapl
aapl 4 hour data
$5 box size by 2 reversal
close plot
it does not seem to have really tested the $620 area support/green line
the 50% of the low pole is 650
but....look at those red lines
coming in at $660 and $670
thinking that we really need to test support and see if the bulls are still there
lets see what happens

 

[isatrader]

isa..a better chart of aapl
aapl 4 hour data
$5 box size by 2 reversal
close plot
it does not seem to have really tested the $620 area support/green line
the 50% of the low pole is 650
but....look at those red lines
coming in at $660 and $670
thinking that we really need to test support and see if the bulls are still there
lets see what happens

That 620 support looks fairly key on both your's and my percentage chart. But note the volume support and price objective are both around the 600 level, so it could drop through the trendlines and still find a base not much further down.

The low pole reversal reached the double bottom breakdown level, but is close to reversing to Os and making a continuation move lower if it gets below that 620 level.

1% box size by 3 reversal with high/low plot

 

[Dentalfloss]

as we said yesterday
spx
another pop at resistance and then the move down chart to follow

 

[Dentalfloss]

spx 1 min data showing the pop at resistance
thursday"s support was marked...pink horizontal line
we were ready on friday when price took a pop at res.
then shorts in

 

[Dentalfloss]

spx 5 min data
watching that downtrend that began on 5th october
if it recoils then we watch 1432 area to see if we that downtrend can be broken
if it goes lower so will the res area

 

[isatrader]

Here's the P&F chart of the ES mini futures continuous contract, which has the potential for a shakeout pattern as bounced at support today. It's a 3 box reversal chart and needs to get above 1460 to break the short term down trend line.