Trading with point and figure

[Dentalfloss]

selling got more intense at 4.30pm
lower red trendline
moved away from main trend

in theory that intense selling should get exhausted quickly..cannot be maintaine for long periods
lets see

 

[Dentalfloss]

18225 /Atillas pivot now first rez

 

[Dentalfloss]

gbpjpy into rez
lets see how it gets handled

did post in advance..lol

 

[Dentalfloss]

Yes, that's true with tight SLs.

Not for the faint hearted!!!

I have;

PP-S2 @ 18225
PP-S3 @ 18180s

We could see S3 as I've noticed seeing S3 / R3 is not uncommon these days.

maybe ??pp-S3

 

[Dentalfloss]

retest that pivot

 

[Dentalfloss]

retest that pivot

failed

excellent

 

[Dentalfloss]

updated chart

 

[Dentalfloss]

as you can see...no signal to buy

 

[Atilla]

it does not work like that with p/f
the market does not know that i am expecting a reversal on a 10 point by 3 reversal on dow.basically,we are filtering the data and we come up with areas as the inputs are not static
we then are looking for p/f signals
so..uneless we get a wide pattern before the breakout, which does happen..there is very little time to start posting trades in advance

fwiw - I do like the simple double top buy or double top sell setup on PnF charts as a signal.

When these signals occur at key PPoints, especially at S3/R3 levels it's great. Also work well with BBands tunnels when they converge to a tight band.


Still read Jeremy Du Plessis 21st Century Point and Figure book. Refer to it off and on and it has helped along with watching all your charts S/R lines and comments.



Pat, if you are reading this I'd recommend adding PnF charts to your tool kit.

 

[Dentalfloss]

we are in ap/f supp area now

 

[Dentalfloss]

we are in ap/f supp area now

 

[Dentalfloss]

aupp RE goe from 18124-18156

 

[Dentalfloss]

rez at 18200 then 18241

 

[Dentalfloss]

1 min showing some support comin in

 

[Dentalfloss]

dax and ftse should follow..if it is the support

 

[Dentalfloss]

1 min updated
change inputs

18200..trend rez and prev supp marked
see how supp showed and it became bullish
18185 area/aqua

 

[Dentalfloss]

falling knives..w caught them ...so far

 

[Dentalfloss]

18212-18216 is trend rez on those inputs

 

[Dentalfloss]

18200 area...as we marked..scalps in and out

 

[Dentalfloss]

supp needs to come in at 18150 area...ish