Learning to read Price Action with P&F Charting

Thanks for the input. Am I correct that the current pattern is a double top, and for the bull trap to occur you would need a reversal back down and then a reversal back up and triple top breakout?

Quote from dentist007:

hope this explains it.if you look at marcrivalland.com.go to point and figure library.there are other chart formations.basically saying that the double-top is too unreliable.mainly trades variations of triple-tops and shakeouts
iam also using quotetracker.the p/f charting is great
1.intraday tick charts.these are really good for scalping purposes
2.historical charts in p/f.jerry medved has told me that these are calculated for hilo and cannot be displayed for close price.that is not a problem.these are excellent
3.dont use 1 box reversal.these are not wyckoff/one step back method.so the congestion areas are very wide.however,still look at them if needed
bullseye/archer analysis has closed for new business.quotetracker and stockcharts are ideal replacements
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agreed with you robert.rivalland"s site saying that a triple-top should be the signal.the shakeout pattern is almost the same,but from a double-top.either way,it is a warning,uneless there is confirmation
my opinion only
anyway,happy independence day to you and all the other readers of this thread
non farm payrolls has sent the nas 100 into a constriction
chart enclosed

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the upper chart is close data.the triangle.the lower is hilo data calculation.both have the same box size and also both are 3 box reversal.each configuration gives you more information for good analysis
hope this helps
 
All

I have been looking for daily numerical totals of buy and sell pnf signals with not too much success. Looks like stockcharts does not have them, or at least I cant find them. Does anybody here know where I might be able to get pnf buy signals totals? I want to try comparing daily trends and compare it to mkt performance.

thx
 
Did you buy his e-book? If so, did you find it helpful?

Thanks


Quote from dentist007:

try ted burge website
the tedlines.com
it is on public charts list on stockcharts
it is great stuff for s/r levels also
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tedlines. i think he looks at s/r on weekly candles.a meaningful s/r spot which gave a good move after it was hit.he then draws horizontal lines
.i think also he does the same with daily candles.he then matches both of them up with atr p/f chart
he also uses bullish percent for all indexes for breadth
there are a couple of his videos posted at the end of the point and figure thread on livecharts.co.uk.the message board which is free
i think thats how he looks at it.seems very straight forward
live intraday p/f charts can be had from mrswing.com
for all us stocks and indices.if you load the chart.500 columns,atr period.15 min and the 60 min data work well.all are 3 box reversal
and are free.just line them up with the free eod charts on stockcharts
 
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