Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[Dentalfloss]

getting close to breaking the trendline

 

[wh92stang]

Oil just jumped a dollar in about a minute.... pulling equities with it.

U.S. Inventories dropped pretty big from last week.

 

[spreadbett]

Any thoughts on EUR/USD guys? Hourly chart showing it clearly broken out of the downtrend posted earlier. Now in a possible trading range between 1.47 and 1.485?

 

[Dentalfloss]

spx ..60 min
1 box reversal
is it going to stay under the trendline..??
or go above.we need to see the retrace stay above the trendline for a good break upwards

 

[Mr. G]

spx ..60 min
1 box reversal
is it going to stay under the trendline..??
or go above.we need to see the retrace stay above the trendline for a good break upwards

Dentist - how did you come up with the box size? Aren't they supposed to either be % or whole round numbers - 5,10, 25 etc? Whole round numbers only on a one box reversal I thought....

 

[Dentalfloss]

box size can be any number.stockcharts have a nice one.you can input the box size which can be calculated from the 20 period atr.it is good to start with from that point and then work from there
dont use log box size on lower timeframes usually.mainly on the daily

 

[litetrader]

My take is that the trend is broken and that there is a bullish position in the short term/intrday trading driven mainly by economic news.

Any thoughts on EUR/USD guys? Hourly chart showing it clearly broken out of the downtrend posted earlier. Now in a possible trading range between 1.47 and 1.485?

 

[Dentalfloss]

not quite bullish yet
eurusd
15 min data

 

[Mr. G]

box size can be any number.stockcharts have a nice one.you can input the box size which can be calculated from the 20 period atr.it is good to start with from that point and then work from there
dont use log box size on lower timeframes usually.mainly on the daily

Interesting, runs counter to what Du Plessis says on box size but, hey ho, whatever works.

P&F don't have timeframes per se - reducing box size effectively gives you more sensitivity.

 

[Dentalfloss]

Interesting, runs counter to what Du Plessis says on box size but, hey ho, whatever works.

P&F don't have timeframes per se - reducing box size effectively gives you more sensitivity.

it does not counter what duplessis says.
stockcharts are just giving you a starting point.then you can alter the box size
the charts i post are usually a box size with either 1 or 3 rversal .the chart will usually have a definite readable pattern to which a decision can be based
log box sizes.usually only necessary when a big moves have happened.something like rbs or barc.bdev
where share price has been up to £5 plus and then down to 10-20p range

 

[Dentalfloss]

reducing box size makes the columns too long.charts are unreadable and useless.if columns become too long ,then drop down a timeframe

 

[Mr. G]

it does not counter what duplessis says.

I beg to differ - p287. Do not use odd box sizes or any number between the standard sizes.

 

[Mr. G]

reducing box size makes the columns too long.charts are unreadable and useless.if columns become too long ,then drop down a timeframe

What do you mean by drop down a timeframe - daily to hourly to tick etc?

 

[Dentalfloss]

I beg to differ - p287. Do not use odd box sizes or any number between the standard sizes.

that cannot be right
scan the page and post it.you have to have odd box sizes to really see the price action...sometimes

 

[Mr. G]

that cannot be right
scan the page and post it.you have to have odd box sizes to really see the price action...sometimes

I would if I had a scanner.... He says the same thing a few times in his book.

To really see the price action use tick data with a one box reversal. After all, P&F came about from tape reading.

Any idea where I can get hold of an add in for Excel that will produce P&F charts? XOCharts have one but it doesn't do one box reversals apparently.

 

[Dentalfloss]

What do you mean by drop down a timeframe - daily to hourly to tick etc?

yes
but that is not the whole story.quite often ou drop down a t/f and nothing new shows.you then change the data input.ie hilo or close.to see if there is anything missing.it is really about moving around t/f and data input/timeframes and also hilo/close input to get the most out of it.that takes a little practice
once you have a meaningful pattern/setup.then you look at the different combos
once you see that set up.you must trade from the signals from that chart only.only dropping down to make sure it is all going in ur direction

 

[Dentalfloss]

I would if I had a scanner.... He says the same thing a few times in his book.

To really see the price action use tick data with a one box reversal. After all, P&F came about from tape reading.

Any idea where I can get hold of an add in for Excel that will produce P&F charts? XOCharts have one but it doesn't do one box reversals apparently.

ig have p/f charts...free also

 

[dr.blix]

I beg to differ - p287. Do not use odd box sizes or any number between the standard sizes.

i think the acid test is, has dentist been using his charts successfully.

if it's been working for dentist then perhaps the book should be updated :cheesy:

 

[pentlow1]

If the FOMC come out with the expected statement on future interest rates, will the markets sell-off on the old "buy the rumour, sell the fact" saying. Any views? Personally i think there may be something in this as people wake up to the fact that we have had this tremendous rise in markets on a torrent of money, but it is running out and at some stage has to be repaid. Thats my rant and rave over.

 

[Dentalfloss]

i am sure jeremy duplessis has put this out of context.you have to use odd box sizes..sometimes