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

[timsk]

Tim
market breadth pointing to a possible short term decline on spx
a good chance to test youre skills on paper

Hi d007,
On paper, my skills are quite brilliant!

 

[Dentalfloss]

Hi d007,
On paper, my skills are quite brilliant!

sorry p/f skills ii meant

 

[Dentalfloss]

a mini swing trade
trendline is the stop
spx showing yesterdays price action/the downtrend that started after the open.the minor upmove was friday.so 2 days data on this chart
1 minute data
box size is 0.70 by 1 reversal
the trade is based on the knowledge we had on market breadth and 1420 area was a big resistance

 

[Dentalfloss]

eurusd 10 min
a break of trend

 

[Dentalfloss]

you get a clearer picture of that uptrend on the 30 min

 

[Dentalfloss]

mks knickers are green
well....we had the trend ending on the 30 min eurusd..yesterday
here is a bigger picture
2 hour data
lets see if those supports hold

 

[Dentalfloss]

spx
a couple of trendlines to watch
2 hour data

 

[Dentalfloss]

as per Jason Leavitt ...nasdaq comp not looking as bullish as the dow
watch that light blue trendline on compq for less risk taking

 

[malaguti]

Longer time frames, weekly 2% of BT
Coming up to a triple top, which happens to be at the 61% fib level of the 2007 top.
Passed this and there is clear air to the next target at 261..a good 10% return

 

[Blaiserboy]

I notice a different chart...... are you not using Bulls Eye Broker any more.?

 

[malaguti]

I notice a different chart...... are you not using Bulls Eye Broker any more.?

I've never used Bulls Eye, i find them a tad inferior to Updata. I had a demo with them a little while ago, after using updata and could never switch to bulls eye now. The master, Dentist, here I believe he still gets along with Bulls Eye...although i cant for the life of me think why :cheesy:

 

[Dentalfloss]

cos i can export data direct from the spreadbet company
dax..30 min data
3 trendlines defined the price action
it is 24 hour data.so pre and post market
out of hours an algorithm from london capital/capitalspreads metatrader platform
updata can read this ..but there is a big hoo ha when you change time input

 

[Dentalfloss]

ftse 100
30 min data
showing the last month..from 7th november high
11 pointys by 1 reversal
24 hour data input.ie overnight quotes

 

[malaguti]

ftse 100
30 min data
showing the last month..from 7th november high
11 pointys by 1 reversal
24 hour data input.ie overnight quotes

what a different story regular hours tells..Im not a big fan of after hours, but there's so much more detail that I'm missing

 

[Dentalfloss]

hi malaguti
thanks for the chart
i did not realise that there is so much missing
updata will work with the data from metatrader
you download metatrader4 from lcg...the demo account
set it up
then to export data ..go to
tools
options
history centre
double click on say ftse100
click down load and export to a new file
you will have to ring updata to let them show you how to configure it
otherewise..just use the candle/line charts in metatrader4
is that the same look back period as my chart ??
also could you post the dax so i can compare it...thnks

 

[Dentalfloss]

worked out something
this 30 min spx
3 pts by 1 close of the lcg futures
now the chart nearly matches the hilo of the actual index/same box size and reversal
so maybe bgetter to watch in hilo format
cannot understand why this happens

 

[malaguti]

hi malaguti
thanks for the chart
i did not realise that there is so much missing
updata will work with the data from metatrader
you download metatrader4 from lcg...the demo account
set it up
then to export data ..go to
tools
options
history centre
double click on say ftse100
click down load and export to a new file
you will have to ring updata to let them show you how to configure it
otherewise..just use the candle/line charts in metatrader4
is that the same look back period as my chart ??
also could you post the dax so i can compare it...thnks

Here's the dax chart..looks completely different. I would have gone as far to have said it was a different box or timeframe.

 

[Dentalfloss]

hi malaguti
thanks for the dax
try hilo
same box size/reversal
see how this compares

 

[malaguti]

hi malaguti
thanks for the dax
try hilo
same box size/reversal
see how this compares

closer, more detail, but you get the same issues with hilo, early and incorrect breaks of trend. I never would have thought you could lose so much info. I will be calling updata to see if I can upload data somehow. I cant find it anywhere. thanks mate for opening my eyes once again

 

[Dentalfloss]

hi malaguti
thanks for the chart
i am looking at that dax chart you posted and comparing it ...the hilo plot
anyway here is the ftse hourly
2 trendlines to watch
the main has supp at 5850 area/green
the internal is 5900 area/light blue