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

[Dentalfloss]

babe...
no method
its all pretty pictures
malaguti and i dont have a clue what we are doing...we just like those pretty pictures...lol

 

[malaguti]

babe...
no method
its all pretty pictures
malaguti and i dont have a clue what we are doing...we just like those pretty pictures...lol

oh man..rumbled again
And I was just saying to the mrs how lovely a P&F chart looks..she looks at me like I I've just come off the boat

 

[Dentalfloss]

commodity currency bouncing back
audusd H4
looks like it is goin to test the trend

 

[Dentalfloss]

eur..still bullish
a minor setback after nfp
but that was regained

 

[Dentalfloss]

Sugar H1
goin to test the trend
could clog your arteries if you trade it

 

[Dentalfloss]

gbpnzd
dont you just love those signals

 

[Dentalfloss]

Cable
showing 2 trends since the beginning of May
17 pips by 2 reversal/hilo plot..2 hour data
support for the latest uptrend should be at that trendline cluster
back at 1.5600 area res
lets see if that trend holds

 

[Dentalfloss]

usdjpy H1
about to hit res
at prev supp area now

 

[Dentalfloss]

Dow H2 data
bullish pattern reversed

 

[Dentalfloss]

there is a point and figure group on linkedin started by jeremy duplessis
just joined up
there are 4 members including me
one posting by him on the spx
it is a discussion group as far as i know
and all are welcome....i think

 

[malaguti]

there is a point and figure group on linkedin started by jeremy duplessis
just joined up
there are 4 members including me
one posting by him on the spx
it is a discussion group as far as i know
and all are welcome....i think

do you have a link? just went on linkedin, searched his name but I dont want to make friends with the guy

 

[Dentalfloss]

try this

http://www.linkedin.com/groupItem?v...ack=.gde_5008443_member_241414895.gmp_5008443

 

[malaguti]

try this

http://www.linkedin.com/groupItem?v...ack=.gde_5008443_member_241414895.gmp_5008443

cheers buddy

 

[Dentalfloss]

Gold

Gold has been in a downtrend since January 2013, confirmed by the break below 1530 in April 2013. The initial target of 1460 has been achieved with the next being 1300 on the 3-box chart. There is now a huge amount of resistance to any upmove shown by the clustering of internal downtrend 45 degree lines.

The 1-box chart shows a break of the long-term uptrend from 2001 and the completion of the large top with the break below 1530. The next downside target is 1280. There are other much more severe downside targets not shown
stuff posted by Duplessis on linkedin

 

[Dentalfloss]

Dow index H2 data
should be in a good support zone
lets see if it holds

 

[malaguti]

Another longer term chart, Amec breaking down shortly from a long term uptrend
However it does have a tendency to drop 10% past this line and then recover..so I'll look at something shorter term to guage an appropriate exit

 

[Dentalfloss]

amec
that is how i see it

 

[Dentalfloss]

amec
1160 area is the cap on it
it has gone sideways for the last year
and good trend supp at 900 area..which is 10% from current price
so needs to go sideways again..imho

 

[malaguti]

amec
that is how i see it

funny, never thought of going higher than 2%..support is clear indeed..thanks for that!

 

[Dentalfloss]

that is why you must take into account the whole trend
so..on some charts you need to go higher to get the whole trend on the screen
then you can bit down into segments
so.scanning on a 2% is a bit silly as in alot of cases,especially since the QE start..many charts cannot fit on the screen,even on 2%/close with a 3 reversal