Trading with point and figure

[Dentalfloss]

26343 the low...we marked 26357
must improve...lol

 

[inzimam]

3 methods so far

find supp areas
find rez areas
find /confirm latest trend

each one needs different inputs
top two need to be kept away from the price

Ma"s are drawn after the p/f chart is produced and are not calculated from the raw data.
each ma point is from the middle of the column


shorter Ma on 3 box...longer on 1 box

What do you mean by "top two need to be kept away from price" ?

 

[inzimam]

could break to 26357 area and bounce
26500 as rez on the bounce
if we get lucky

How did you get 26357..was it pnf rez/support or just off the 4h bar chart?

 

[inzimam]

3 methods so far

find supp areas
find rez areas
find /confirm latest trend

each one needs different inputs
top two need to be kept away from the price

Ma"s are drawn after the p/f chart is produced and are not calculated from the raw data.
each ma point is from the middle of the column


shorter Ma on 3 box...longer on 1 box

The 'find and confirm latest trend' is what I struggle with

Do I use pnf for this or just price action and what time frames

 

[Dentalfloss]

The 'find and confirm latest trend' is what I struggle with

Do I use pnf for this or just price action and what time frames

the best method is P/F
inputs are not time based
however,some argue that they are partly as most of the time the software is reading data packets.ie 15 min open,high ,low and close
the display is arithemetic.ie box sizes and not like candles/bars which just plot the price range within that packet of data

 

[Dentalfloss]

Mornin Folks

 

[Dentalfloss]

Dow into the open

will support hold

 

[Dentalfloss]

DAX updated

 

[Dentalfloss]

Dollar updated

 

[Dentalfloss]

Dow
first rez area 26400..ish

 

[Dentalfloss]

already been hit

 

[Dentalfloss]

Digesting Fed on much busier day for data and events: focus on German CPI
and US Durables; also US final Q2 GDP, Pending Home Sales & KC Fed Mfg;
Italy budget details, Indonesia & Philippines rated decisions, more
central bank speakers: Italy BTP sales and US 7-yr

- Indonesia/Philippines rates: BI set for another 25 bps hike as IDR swoon
continues; Philippines' BSP still well behind the curve

- Germany CPI: marginal m/m rise translates to no chnage in y/y rate, needs
to surprise to prompt any reaction

- US Durable Goods; aircraft seen pacing headline rise, focus on strong
run of CapEx proxy gains

- Charts: IDR/USD and PHP/USD

..........................................................................

********************
** EVENTS PREVIEW **
********************

Having digested yesterday's Fed meeting, today brings yet another deluge of central bank speakers, rate decisions in Egypt, Indonesia, Philippines and Taiwan, as well as busy run of data and surveys, with Italy and the US again dominating the govt bond auction schedule. Italy is also due to publish its 2019 budget details, with something of battle royal between Tria & Conte and the two party leades di Maio and Salvini, the key question being exactly what percentage of GDP the 2019 deficit will be, and above all whether the promises to rollback pension reforms, introduce a 'universal income' and some form of tax cut (likely to be staggered) are credibly funded. The busy week for EM central banks continues and is expected to see further rate hikes in Indonesia (+25 bps to 5.75%) and the Philippines (+50 bps to 4.50%), with the former likely to retain a tightening bias (with the IDR still on the ropes), and the latter still very much behind the curve, given CPI jumped to 6.4% y/y in August from 5.7%, and the PHP also under pressure. Statistically, Germany has CPI dn Gfk Consumer Confidence, and the Eurozone has M3 & the array of monthly EC confidence surveys, while a busy in the US features final Q2 GDP, Durable Goods, Initial Claims, Pending Home Sales and the KC Fed Manufacturing survey. Outside of the EM central bank meetings, there are speeches from BoE's Carney, Fed's Kaplan and BoC's Poloz, as well as the Brazilian Central Bank's quarterly inflation report.

** Germany - September CPI **
- Following on from the great 'much ado about nothing' over Draghi's comments earlier in the week over a "a relatively vigorous" uptrend in core Eurozone CPI, we get the first of this week's national CPI data from Germany. But this seems unlikely to stir markets' 'animal spirits' if forecasts of 0.1% m/m for an unchanged 2.0% y/y (HICP 1.9%) prove to be correct, with the Eurozone CPI (tomorrow) seen edging up 0.1 ppt to 2.1% headline and 1.1% core, thanks to similar 0.1 ppt rises in y/y rates for Italy and Spain, with French HICP seen unchanged at 2.6% y/y.

** U.S.A. - Durable Goods Orders **
August Durable Goods Orders are expected to post an aircraft led rise of 2.0% m/m, with the ex-Transport measure seen up a more modest 0.4% m/m (following July's 0.1%), though the key aspect will likely be what materializes on Non-defence Capital Goods ex-Aircraft (the so-called 'CapEx proxy’), which has posted an impressive run of gains since April of 2.0%, 0.7%, 0.8% and July's 1.6%, with a more modest 0.4% m/m seen for August. The remainder of the US data schedule will have to spring some major surprises to have more than a passing impact, with Claims seen remaining very low at 210K, but up from the new cyclical low of 201K last week, final Q2 GDP seen unrevised at 4.2%, and Pending Home Sales projected to dip 0.5% m/m.
from Marc Ostwald

 

[Dentalfloss]

DAX updated

updated

 

[Dentalfloss]

Dax
finally
was waiting since last night

 

[Dentalfloss]

12310 first rez area

 

[Dentalfloss]

DAX

rez 12334-12347 area from those inputs

 

[Dentalfloss]

missed the bounce from 12269..lol

 

[Dentalfloss]

how good is our pivot..??

 

[Dentalfloss]

as support

 

[Dentalfloss]

our line became rez