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

[isatrader]

Dow Jones also coming into support here

It's the longer term trend line as well on the 100 box by 3 reversal since the October lows last year. Key one for it to hold.

 

[malaguti]

Start of the bounce perhaps??

 

[Dentalfloss]

come on malaguti...
you can do better than that
let"s show the people,the power of p/f charting !!!!
spx..price now in a consolidation...trend was down into the consolidation pattern
1.lets see the breakout points. for upward and down price moves
2.lets see supp and res areas in both directions...we need to see the reactions in these areas
3.one box reversal...where are the most filled boxes in that consolidation...at the top of the pattern or on the lower side ??
4.if it breaks...are the thrust columns long ??
put you" re "TRADERS CAP " on and post a few charts and let us see where we could be going

 

[malaguti]

come on malaguti...
you can do better than that
let"s show the people,the power of p/f charting !!!!
spx..price now in a consolidation...trend was down into the consolidation pattern
1.lets see the breakout points. for upward and down price moves
2.lets see supp and res areas in both directions...we need to see the reactions in these areas
3.one box reversal...where are the most filled boxes in that consolidation...at the top of the pattern or on the lower side ??
4.if it breaks...are the thrust columns long ??
put you" re "TRADERS CAP " on and post a few charts and let us see where we could be going

My "TRADER's CAP" has a great big D on it, and covers my eyes somewhat

 

[isatrader]

Attached is the updated AAPL Fixed 1% by 3 reversal chart which is still in a down trend. I've highlighted the various double top breakouts and double bottom breakdowns as I think it adds extra context to the trends. Price is at the 200 day MA today, but note that it's broken below it's volume support level which now becomes resistance if it does in fact bounce at it's 200 day MA.

Also attached is a relative strength chart versus the S&P 500 using a 1% box size, which shows the under performance versus the broad market.

 

[isatrader]

US Industry Sectors Relative Performance

Attached is the US Industry Sectors P&F Relative Performance charts versus the S&P 500.

Fixed 1% box size by 3 reversal.

To give the charts some context, note that the October double bottom breakdown in Technology (XLK) was the first relative strength sell signal for tech since September 2008.

 

[Dentalfloss]

spx 1 minute data
thursday and friday
see the spike at the open after nfp release
this minor uptrend was taken out quickly,then look what happened next...not difficult to spot
0.5 pts by 1 reversal
close

 

[Dentalfloss]

sbux/starbucks
30 min data
20 cents box size by 2 reversal..hilo
was in on thursday...price at the bottom of the range and the downtrend had been taken out
earnings were good on thursday and a gap up on friday
gap is where the horizontal green line is
p/f does not show gaps uneless you have updata

 

[malaguti]

A follow up on a chart I was displaying a little while ago. lloyds.
Still going strong, with seemingly its sector coming out of a down trend on a much longer timeframe. Last time I posted this, Lloyds has now increased by some 30%

I've posted my original take on this also

 

[malaguti]

The longer term picture perhaps for Lloyds showing where potential resistance is going to come in..I know you'll mention that Dentist!!

 

[Dentalfloss]

malaguti..lloy is being resurrected
that res should break..you should only be aware of it.,that the market will have seen that and it might just slow up the uptrend temporarily
back to important things....knickers......lol
looks like mks is selling the right ones now
an important trendline might break
the price of knickers is goin up so i will be buying them in bulk.......

 

[malaguti]

malaguti..lloy is being resurrected
that res should break..you should only be aware of it.,that the market will have seen that and it might just slow up the uptrend temporarily
back to important things....knickers......lol
looks like mks is selling the right ones now
an important trendline might break
the price of knickers is goin up so i will be buying them in bulk.......

Cheers buddy, yep lloyds is there just as a target right now. A level to watch.
Your box setting is high for MKS, but it does show the 100 point range it seems to have been in..heres a 5% just to highlight the point nothing more. Only a break which probably concides with your 10box would encourage me to don a pair
Who knows how long that will take..FTSE ranging, S&P looking down. I don't hold much hope for longs at the moment.

 

[Dentalfloss]

hi malaguti
thanks for the chart
points noted
however,the 5% box size chart you put on
is tha fixed box size or log ?
if its log.....then be careful...thye are only good for scanning ..imho
now if you could put a 10p by 3 reversal/close ...with vertical counts...then we can have a look
also an rs chart agianst the ftse100..normalised rs if poss
mks has under performed the index and is on my radar to possibly break resistance
that consolidation with a bit of luck might get tighter and then pop
could be either way

 

[malaguti]

hi malaguti
thanks for the chart
points noted
however,the 5% box size chart you put on
is tha fixed box size or log ?
if its log.....then be careful...thye are only good for scanning ..imho
now if you could put a 10p by 3 reversal/close ...with vertical counts...then we can have a look
also an rs chart agianst the ftse100..normalised rs if poss
mks has under performed the index and is on my radar to possibly break resistance
that consolidation with a bit of luck might get tighter and then pop
could be either way

It is log, but I'm having pretty good trades with %ge box sizes.
Anyway, 10x3 with targets on..and relative to UKX

 

[Dentalfloss]

malaguti
thanks for the charts
the re chart looks interesting

 

[isatrader]

Major trend lines are being tested on the main US index charts. Nasdaq 100 has broken it's one year trend line today and the S&P 500 and Dow 30 are both testing their trend lines also.

 

[isatrader]

All three of the major indexes I posted previously have now broken their one year term trend lines. But the S&P 500 and Nasdaq 100 charts have both reached their price objectives.

Attached is the S&P 500 P&F chart. Traditional 10 point box size by 3 reversal chart

 

[Dentalfloss]

ok..isa
good one ..targeted reached
keep em comin

article in the telegraph a couple of days ago
new regs say that that any short positions above 0.2% of market cap must be published
hedge funds now have big short positions in
whsmith
home retail
ocado
sainsbury
tesco
dixons
also are carpetright,asos,glencore,and dmgt
they are expecting blood on the high street at xmas

now there are plenty of stupid people in this world...so lets see if we can beat the pros !!
hopefully,we can all post some charts and see if their strat makes sense

 

[malaguti]

ok..isa
good one ..targeted reached
keep em comin

article in the telegraph a couple of days ago
new regs say that that any short positions above 0.2% of market cap must be published
hedge funds now have big short positions in
whsmith
home retail
ocado
sainsbury
tesco
dixons
also are carpetright,asos,glencore,and dmgt
they are expecting blood on the high street at xmas

now there are plenty of stupid people in this world...so lets see if we can beat the pros !!
hopefully,we can all post some charts and see if their strat makes sense

well this is Sainsbury..hourly 1x1 breaking down but coming into support on 1x2.

 

[malaguti]

dixons

This too is just showing higher highs/higher lows. Gonna take quite a bit to turn them around