Learning to read Price Action with P&F Charting

lamar
a nice call.a major downtrend looks set to be broken.i think 40 bucks needs to be the base for any uptrend move.so another double-top above 40 needs to be seen/remember holygrail"s rules for change of trend.?consecutive signals
i dont trade us stocks,so just an opinion
 

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thanks
I think their are a lot of stocks out there poised for an uptrend, but that will depend on what happens with our economy in the near future.

My initial question tho, is not about that particular stock or the particular breakout indicator but about using price action without volume.
 
ok
i think in some of the charting programs you can integrate a volume histogram.this will give you the areas where the action took place.
you might want to do some kind of market profile technique to do this
perhaps someone else could elaborate on this
in my mind p/f show some kind of volume characteristics as it shows raw supply and demand/price only,showing human instincts for greed
basically it shows raw supply and demand.what you get from this is up to you.but by increasing/decreasing box size and reversal size it will show you the price zones and patterns that might follow thru
 
What do you guys think of Monsanto?
Seems like the agriculture group in general has, at the least, paused their downtrend and several other agriculture names have broken out. In addition, I like that MON is still above several long term trend lines.

What do you think of ATM Sept. Calls?

Also, I am going to start swing trading using P&F and simulating day trading P&F soon, (I just started looking for some good entries) would any of you be interested in a journal of sorts? I don't want to litter Holygrail's thread, but would any of you read/find any value in a separate thread in the journals section?

Thanks for all the help thus far all
 

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Wow talk about lack of attention to detail, all this time I was thinking Mosaic, not Monsanto.

Sorry guys, see attached:

This is in addition to a bullish triangle breakout on High/Low and a double top on Close only.
 

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yayt
another updata user.few of us around here
mosaic.i think youre chart was too noisy.so i have isolated the price action for 08.gone up some box sizes and using 1 box reversal.i have marked the res areas from the upmoves.they are getting closer together above 140
 

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Dentist, you don't remember? I got the name of the software from you :)

What's your verdict? I think I will pull the trigger tomorrow morning at open unless it gaps up
 
yayt
i have posted a better chart.the stock is in a downtrend.there is a sharp rally to trendline resistance area.there are opposing vertical counts.so not really great..imo
there is a major area of s/r at 115.
i am sure there are better ones around
 

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Quote from yayt:

Also, I am going to start swing trading using P&F and simulating day trading P&F soon, (I just started looking for some good entries) would any of you be interested in a journal of sorts? I don't want to litter Holygrail's thread, but would any of you read/find any value in a separate thread in the journals section?
More...

go for it Yayt. I was thinking of doing the same thing when I get trading for serious this fall, not to strut my stuff, but so some of the better traders could analyse my failures.
 
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