This is one way I like to read any chart.
I look for breakout candles, if it reverses I draw a line (S&R)
Hope you can see the little and blue horizontal / vertical lines
I am not here to debate P&F charts but it works well on a P&F 1 point chart.
I can see magnitude and momentum. At least ... What I do understand by this.
Edit: Works well because there's a nice trend
I find it easier to read than a 4ticks range chart,
But the principles stay the same.
I look for breakout candles, if it reverses I draw a line (S&R)
Hope you can see the little and blue horizontal / vertical lines
I am not here to debate P&F charts but it works well on a P&F 1 point chart.
I can see magnitude and momentum. At least ... What I do understand by this.
Edit: Works well because there's a nice trend
I find it easier to read than a 4ticks range chart,
But the principles stay the same.
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