Learning to read Price Action with P&F Charting

aapl..looking at hourly data
the supp area is more defined.it is based on $600 resistance.if price moves up then so will the res area
a minor supp area is $564-568
that is the area for any minor weakness to show...imho
 
10 min data
showing the latest trend
trend supports are at 1400..1392 and 1384 areas
blue lines..45 degree trendlines

10xa9vt.gif

there is a horizontal count that goes to 1412 area..so there could be res there
 
apologies on the last post.the horizontal count i put on should have been 1414,not 1412..so 1414 was a great shorting position
that chart was put on in a hurry as the market opened.so a great long to 1414 and a good short banged in aswell
now back to apple computer..that seems to be driving momentum
hourly aapl chart.i ahve used a 1% box size because of the intense uptrend
now,either we get a break to $632 area...horizontal count
or a failure....spread triple-top/failed signal
NOTE WELL...the position of the trendline...it is very close to the price...so any failure and the market will see this as a break of trend
probably price will go to 580 area supp and consolidate..but break of intense trend and will slowdown.a possible driver for other markets...imho

334uhie.gif
 
spx had a great day
15 minute data shows the trend from march 6th
note how we had a good uptrend which went into a sideways move and then a downside move.also a good signal to go short on the break of that uptrend line
see how the downtrend line got broken on friday and a quadruple top break to the upside.friday and today.
1.70 box size by 1 reversal hilo plot
nv5qu0.gif
 
outlook for non farm payrolls
eurusd 10min data
the downtrend that started on 3 rd april looks to be over
so either
continuation of downtrend or support comes in
f03ecw.gif
 
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