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

[Dentalfloss]

eurjpy 15 min data from nfp numbers
0.060 box size by 1 reversal
hilo plot
we have visually optimised the box setting and reversal aswell as the plot method to show us the trend
45 degree trendline/red
now..this chart is a great example of where trades can be placed
1.note the breakdown points..lines are purple,yellow and aqua
on these support areas..we are waiting for a minor bounce and then trying to get in on the other side of the breakdown point...to keep the stop tight and the reward higher.slightly more risk
in essence that is what we are trying to do most of the time...pre identify the breakout point and then try and get in on the other side of the pattern

 

[Dentalfloss]

gbpusd
test the supp area 1.6950..horizontal red line
then 1.6908 area trend supp
15 min data

 

[Dentalfloss]

eurusd hour data showing the downtrend that started on june 5th
if it bpouncesie a 3 box reversal..the print will be at purple horizontal..this might give us some res but also give us a clue if the bulls are taking contrrol
overhead trend res /red at 1.3554 area
basically ,we need to see a consolidation at 1.3550 area if there is going to be an upmove

 

[Dentalfloss]

cable 15 min data
12 pips by 1 reversal
close plot
uptrend that started on 11th june
lets see if that supp area holds

 

[Dentalfloss]

gbpusd 60 min
bulls not tested as yet

 

[Dentalfloss]

areas to watch

 

[Dentalfloss]

some trends in spx futures 4 hour data

from that chart we have the general picture
then we go down t/f..box etc

 

[Dentalfloss]

missed that one
the lesson is
watch for a coiling range
PARTICULARLY...
1.when price recoils in a downtrend...especially at res
2.price coils at supp in an uptrend..particularly at the bottom of the minor downtrend
=t

 

[Dentalfloss]

after todays news..there will be confusion on the strength of sterling
p/f thrives on volatility

 

[Dentalfloss]

gbpusd

 

[Dentalfloss]

here is a handy tip for all
when looking for signals to trade only load up 30-50 data points
the reason
trading signals recquire you to get in close to the price action.however,p/f can crowd the chart
so..trading signals will recquire a different visual optimisation.ie box size and reversal to find the best signals to trade from
to make life much more profitable the watchlists should be set up with possible trading signals only....then do the analysis after you have confirmed a decent set up.this means you are ready before market opens
exit signals..these should only have 10-30 ish data points.ie you want to get near the action to look hard for that exits

 

[Dentalfloss]

by loading fewr data points we can then look hard at the trend going into the day and we are on notice to go long
30 min dow futures

 

[Dentalfloss]

if you load ...say 50 data points and you want to look further back.ie backfill..it will make you go to a higher time input for a longer look back period
that does make life alot easier ..imho

 

[Dentalfloss]

if you load ...say 50 data points and you want to look further back.ie backfill..it will make you go to a higher time input for a longer look back period
that does make life alot easier ..imho

played around a bit and it seems that 120 data points picks up the last 2 trends
so.. a long term chart...as many data points that show the price action..then down to 120 ish..then signals from 30 ish data points
so..for day trading
signals coming from 30 /5 min
trends etc from 120 /60 min and possibly 30 min
this can be used with bar and candle
It will.i am sure reduce the time you need to do analysis

 

[Dentalfloss]

eurusd 4 hour datas
5 pips by 1 reversal hilo plot
only 30 data points loaded

hows the downtrend that started on july10
a recoil back into horizontal res area
trend res shown if it breaks..there is also prev supp there /aqua 1.3560 area
trend supp/green at 1.3490 area

 

[Dentalfloss]

here is one that shows promise of some volatility for next week
a good downtrend with hardly any recoil.now,hopefully wants to get busy and test the trend

 

[Dentalfloss]

usdcad 60 min
price has been rangebound since 14 july
but..if we dont load up too many data points ,then we can home in on fine detail
shown are minor trends within the range and the horizontal supp
minor trend res at 1.0745 area
5 pip box by 1 reversal hilo plot
we can watch the tests and trade those minor s/r areas within a range

 

[Dentalfloss]

my club 18-30 holiday booked for September might cost me a bit more
eurgbp looks like it wants to recoil
4 hour data

 

[Dentalfloss]

eurusd 4 hour
wants to recoil and yest res

 

[Dentalfloss]

cable 4 hour
area to watch..if it gets there