Learning to read Price Action with P&F Charting

First off - thanx to HG particularly and also to many others for sharing their knowledge so generously.
I stumbled onto this thread yesterday and already have devoured thirty odd pages.
I've always leaned towards basic PA - the KISS method always sees to work best for me and now I'm rediscovering PNF.
I've attached a daily chart (CHF if it doesn't make it thru) that appears to conform to HG's DB Reversal trade.
Am I right?
If so, would a legitimate first target be
the 56 area - assuming that the 51 area is taken out?
TIA

Marc
 
Seems like a good short entry here with a 1 dollar stop

EDIT: On a quick look I probably wouldn't enter, as it has gone up quite a bit in the past couple of days on news
 
no target of 56 as yet.
box size is $1
3 reversal hilo
the stock is in a downtrend,however there is a recoil to an internal trendline.the last signal was a double-top,so it is bullish.
so thinking in holygrail terms,await the pullback and wait for a consecutive double-top.the 52 area is strong res.the pullbacks from 52 have been fierce
 

Attachments

esclosed is a better chart.60 cent box size using close only
price.3 reversal
price is in a strong uptrend and has retraced back to the trend line.if it is a good spot to go long,if the trendline offers support..however,
price is in a downtrend and the last signal was bearish.also a vertical count of 36.6
price has turned today.but make sure that the trendline is the base for the next upswing
 

Attachments

On an earlier Post, when I rcommended LSR, YAYT thought it was a no buy because of volume. Am I wrong to disregard volume in swing trading using PNF.
Currently I am judging a stock by its movement. I.e. distance from last numbered box.
enclosed is one good chart and one poor chart
Am I wrong to do it this way?
 
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