Learning to read Price Action with P&F Charting

I cant figure out why my esignal charts wont do the .75box/2.25reversal like yours.

At least the signals are working anyway.

Is it that I am charting the SPY instead of the actual ES contract? My intraday chart with those setting makes 4 columns with random Xs and Os.

I have been using a .25/.75 and it has been working intraday.
 
Quote from HolyGrail:

Thanks for your help to this thread Goinglite, and I do apoligize for my previous comments to you.
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No problem. I retract my statements on price/momentium. I gave your comments some thought.

I will post a pnf chart from Sierra Charts so you can see what it looks like.
 
Great thread HG.

Any ideas about the reliability of quad or triple vs double top breakouts for swing trading?

Seems they would be stronger, but you never know. How about a reversal of a quad top breakout? :eek:
 
Just a note. The bullish % index his risen to 36%, so even though the market is seemingly dropping, we are most likely going higher, and will probably at least get to the 1400-1420 area on es.

Needless to say if you are long stocks these last couple of days have most likely been a buying opportunity.
 
Quote from HolyGrail:

I have never seen a p&F chart displayed in such a manner. I assume it must compute the same.
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Sierra does it this way to maintain the proper scaling. I just wished they made pnf candles green and red :)
 
Yes the scale argument makes sense. I'm surprised they don't allow you to change colors. Although I have heard of Sierra charts I am not familiar with them. Are they free?
 
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