Learning to read Price Action with P&F Charting

Quote from pnf.guy:

Weed, welcome aboard the thread. I have recently made a transition to forex my self. Honestly I love the difference. I use point and figure for tactical descions on a intra-day basis. Its amazing how well it works.

I know exactly what you are talking about how different time frames will give different charts. A 1m can be different than a 2m,3m,5m,10m etc using the same box size and reversal amount.

Its my opinion you can disregard what many books say that time has no effect its simply not true for intra day charting. Time does in fact have an important role.

Your problem seems really simple you are not setting your charts up right. You must take the high-low range rather than just the high. If you can't figure it out just call your broker they should be able to help you
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I'll do that, i really hope they can help me, as i don't know of any other brokers that have P&F charting in their trading station!
 
Quote from pnf.guy:


Your problem seems really simple you are not setting your charts up right. You must take the high-low range rather than just the high. If you can't figure it out just call your broker they should be able to help you [/B]
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I contacted them, they said there's no way i can use high low range, i can either use high or low:(

Thanks pnf.guy.
 
Quote from pnf.guy:

I trade forex with saxobank and they offer P&F charts. They are not the best but they do the basic job just fine.
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I downloaded their trader, i will back test it with the demo account. It seems pretty decent though.

Thanks a lot pnf.guy.
 
Just a note of caution for swing traders. Today the bullish percent column changed to an O column. This does not necessarily mean anything other than perhaps tightening stops on all longs at this time.
 
Quote from HolyGrail:

Just a note of caution for swing traders. Today the bullish percent column changed to an O column. This does not necessarily mean anything other than perhaps tightening stops on all longs at this time.
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Thank you. BP of your 800 stock database, or SPX index?
 
Quote from pnf.guy:

I trade forex with saxobank and they offer P&F charts. They are not the best but they do the basic job just fine.
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Hey pnf.guy,
Would you look at this screen shot and tell me what you think?.
Do the reversal look right to you? i'm using 10 pips box size, and 3 boxes reversals.

Notice that the first box of the reversal is often right next to the last box of the previous column.
 

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