Learning to read Price Action with P&F Charting

[dentist007]

s&p500 index showing thursday 8 and friday 19 jan scalping opportunities
2 minute data
box size is 0.500 by 2 reversal
hilo plot
buying the dips on both days,but see how w hit a wall of resistance and the nice shorting opportunity from the resistance.then the rally to previous resistance

 

[dentist007]

s&p 500 index
4 day data input.came across this by accident.i thought i had loaded the chart with 4 hour data,instead it was 4 day
struck me as how bullish it was.price has only just broken out of consolidation.a one way ticket upwartds since march 2009

 

[osho67]

ON p and f charts I get several signals during the day, Some signals fail. Difficult to know which one will fail. I had read somewhere on this thread that if you take all signals ,you will definitely end up in a loss.

Is there some way I can take all the sinals and be profitable. Or sure way to know which have higher probability to fail ?

Thanks

 

[dentist007]

s&p 500 index
30 minute data
testing the trendline support area
3 points by 1 reversal
close plot

 

[dentist007]

eurusd..today
price coiled into a triangle and then popped
2 hour data
12 pips by 3 reversal

 

[dentist007]

s&p 500 index
30 minute data
price still holding above that internal trendline
4.50 points by 1 reversal

 

[dentist007]

outlook for eurusd for next week
4 hour data
could be vulnerable to a sell
1.3260 are is coming out as a possible res area

 

[dentist007]

if we go down to 120 minute data
we see the rising trendline as the support for this trend
if we retrace then look at 1.3150 area as supp
if we go up..then pick of the supp areas from the rising trendline.we need to see where and if it breaks down

 

[dentist007]

s&p500 index
30 min data
4.50 by 1 reversal
supports are the green trendlines and some possible res up above/red trendline
non farm payrolls on friday

 

[dentist007]

eurusd
2 hour data
17 pips by 1 reversal
a down move.but no real test of this uptrend as yet