Learning to read Price Action with P&F Charting

HG, I know you're getting plenty of ass-kissing, but thanks again for spending the time here explaining your methods. It's simple as hell (learnable in a day), and very profitable.
 
It's late and I am going to bed, but I thought I should mention this stock before I do so

UPS

This stock is a buy at 74.00

We have a double bottom failure which has already reversed, and we are close to a buy signal.

I've added something that bulls eye trader also does for you.
On the right hand side you will see relative strength in a pnf format. Normally if you get a buy signal on price and an x column in the relative strength things are good. When you have this and a double top buy breakout on relative strength things are great.

I am going to definitely put my order in tonight.

We should get a quick pop to 79 if our 74 gets hit.
 

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Hey, just came across this thread, going to go back and read it from the start but for anyone who knows - does the technique HolyGrail is describing here work for short-term (intraday 1-5 minute) ES/YM trades?
 
Quote from shortorlong:

Hey, just came across this thread, going to go back and read it from the start but for anyone who knows - does the technique HolyGrail is describing here work for short-term (intraday 1-5 minute) ES/YM trades?
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P&F is not timeframe dependent, but yes, it can be used to trade ES/YM intraday.
 
Just stopped out on runner with ten points. Very nice trade. You never know which ones will do this you just have to take the trade and manage it. I hope you guys tried to trail your stops on this one.
 
I just took this potential failed double bottom on the .5 on the reversal. I don't normally do this, but because we are also bullish on the 1.0 I think this will have a good result. My stop is at 1347 so if I lose it will be a larger loss than normal. That stop loss is based on the 1.0 chart turning bearish.
 

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