Learning to read Price Action with P&F Charting

Quote from newguy05:



4) Why are the below 2 chart different, 1 is from your attachment, the other is from stockcharts.com For the life of me i cannot figure out why. (It's not high/low vs close, i tried both, box size etc are also the same).

LEH: I put the difference in the red box
Your chart: http://spoki.com/showphoto.php?photo_id=29
Stockcharts.com: http://spoki.com/showphoto.php?photo_id=30

thank you once again! [/B]
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You will probably have to go back and check the daily prices and see which one is accurate.
 
the only difference could be the method of calculation,the next box should be calculated from the previous box reading not the hi/lo reading
this is why i use updata.they guarantee that the box calculation method is the correct one.this is a very important factor when you pay for software.as you saw previously that trade navigator has the wrong method of calculation
 
Holy Grail, or anyone else.
I am having terrible results if I buy ( or short) on a pullback after the breakout signal. But great results if I only buy when the price is still in the last box. any comments, same or different results?
I use daily high/low not close.
 
In the last box meaning, just before it breaks out?

Can you give an example?

I have had good results in my limited trading buying well after the buy signals on down days
 
After it breaks out, but then pulls back at least one box

DF gave a short signal at 18, then pulled back up a box. Buy thinking you may get in at a higher price, before it continues down, but it continues up. Still not stopped out tho.
 

Attachments

Yeah, if it gets above 80 I'm out
Take a look at UYG, this is either a great Long... or Short opportunity .. lol

Will this be a failed double top breakout or will it actually BE a double top breakout? (Close values, High/Low shows a breakout already)
 
It may be a double top breakout, but how far down do you go before you determine you were wrong?

this is a pattern I have noticed on quite a few charts that I have been trying to develope into a good signal.. Approx 10 boxes down and right back up (or visa-versa). if it then goes down 3 boxes at some point soon and back up four, buy for a 5 point target. However , I think it only works when it is trending the right way first.
 
Great thread. A couple questions for those in the know...

Is there a free intraday PNF charting service (delayed) available anywhere online?

For the paid services you guys are using, it looks like most are using either bulls eye broker or investor RT... does one have advantages over the other?
 
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