Learning to read Price Action with P&F Charting

Quote from dentist007:

eurusd
30 mindata
shows the latest downtrend
the purple line needs to get taken out for markets to want to rally
7 pip box sze by 1 reversal
hilo plot
More...

Hey what sites offer the p&f charts? I don't believe my broker offers them
 
Quote from dentist007:

eurusd
30 mindata
shows the latest downtrend
the purple line needs to get taken out for markets to want to rally
7 pip box sze by 1 reversal
hilo plot
jqrklk.gif
More...


You play along the lines of support and resistance. But you do it on hard data than the day. I told you two years ago, and that Bebe is not true test draws a reversal, if it does not give the daily data. If you are in a soft Bebe daily data is not inserted, and he draws rpavelno turn, the support and resistance lines you obtained is not correct.
I have corresponded on this matter with the developer and that's what he told me.
------------------
Hi,

OK, good.

Next version will for sure have better intraday capabilities also real
time (also with free data). I will send to you as soon as we have anything
that can be tested.



> Hi !
>
> I just checked. Yes. Your Soft did everything correctly, when I corrected
> the date. Bad that your soft differently draw P&F, depending on the date.
> It
> should not be ever.
> But fix everything to be correctly.
> Tnx.
>
>
> --------------------------------------------------
> From: <sales@pointandfigure.com>
> Sent: Saturday, January 09, 2010 9:40 AM
> To: <>
> Subject: Re: Bull's-Eye Broker have BUG. (Explanation.)
>
>> Hi,
>>
>> thanks for your email.
>>
>> If it is not too much work for you - could you make the same data, but
>> make it daily data instead of having it intraday. I do not doubt you are
>> right. But, I don't think the error would be there if it was daily data
>> and daily close was used to plot. Like I said, intraday data is not the
>> best use of Bull's-Eye Broker since it is intended for daily EOD data.
>> The
>> focus of next version of Bull's-Eye Broker is real time intraday data.
>>
>> Carl
>>
>>
>>> Hi!
>>> 1-
>>> I'm sure I'm right. No matter what date the data are. I can fix all the
>>> dates and times in Metastoc, so that there was a date day and post you.
>>> And
>>> then you'll be said in justification SOFT?
>>> Laws draw P&F for all the same regardless of what time periods for them
>>> to
>>> work. You want to say that you have laws draw P & F are different for
>>> different intervals of time?
>>> 2-
>>> I do not have the registration number. I use the BEB demo version. But
>>> I
>>> will be glad to receive from you the new version BEB.
>>>
>>>
>>> --------------------------------------------------
>>> From: <sales@pointandfigure.com>
>>> Sent: Friday, January 01, 2010 9:43 AM
>>> To: <>
>>> Subject: Re: Bull's-Eye Broker have BUG. (Explanation.)
>>>
>>>> Hi, I'm sorry you feel that way. However, your error is still due to
>>>> the
>>>> fact that you use INTRADAY data with intraday reversals and the
>>>> plotting
>>>> you use in BEB is based on DAILY CLOSE thus your intraday reversals
>>>> will
>>>> not be considered when drawing the chart.
>>>>
>>>> But like I said our next version of BEB will be focused on intraday
>>>> trading and this issue will not be present since it is a complete
>>>> remake.
>>>>
>>>> If you send me your registration number we will send you the first
>>>> beta
>>>> version.
>>>>
>>>> Good luck with your trading.
>>>>
>>>> Eric S.
>>>>
>>>>> I still do not understand why you needed were my data, if you are in
>>>>> any
>>>>> case justify soft BEB is that it does not correctly display graphics?
>>>>> Tell that "Close" is bad, as "High/low"?
>>>>> Or tell that apply proff traders?
>>>>> I know and believe in 100%, SOFT BEB does not correctly display
>>>>> graphics.
>>>>> If I apply the "High/low" or old data, I know that BEB will not be
>>>>> considered by "PRICE BOX", but from "old price".
>>>>> And it is not correctly. Soft BEB-bad.
>>>>> I have already told everyone about it and showed it. And in our
>>>>> country
>>>>> have
>>>>> already checked it. So no need to justify soft BEB, it is no one will
>>>>> buy
>>>>> in
>>>>> our country.
>>>>>
>>>>> Be correctly would be admitting a mistake, to alter it, and then to
>>>>> soft
>>>>> BEB
>>>>> would be the best.
>>>>> While soft BEB makes a mistake, he is the worst.
>>>>>
>>>>>
>>>>>
>>>>> --------------------------------------------------
>>>>> From: <sales@pointandfigure.com>
>>>>> Sent: Tuesday, December 29, 2009 10:25 AM
>>>>> To: "Grat H" <>
>>>>> Subject: RE: Bull's-Eye Broker have BUG. (Explanation.)
>>>>>
>>>>>> Hi, depending on the settings of what to chart (daily close, all
>>>>>> available
>>>>>> data...) you will have different figures. Also I see your excel file
>>>>>> does
>>>>>> not plot the same boxes as BEB. Your plottings are different, and I
>>>>>> suppose the difference is how the data is used. In BEB you can also
>>>>>> make
>>>>>> completely different drawings depending on what settings and data
>>>>>> series
>>>>>> you use. You seem to use daily closing prices for intraday data
>>>>>> which
>>>>>> is
>>>>>> not the best option. If you change series to "Whatever data is
>>>>>> available"
>>>>>> you will have another reversal at that particular point, similar to
>>>>>> the
>>>>>> one in your excel.
>>>>>>
>>>>>> Your Excel plots figures slightly different:
>>>>>> 81,39
>>>>>> 81,29
>>>>>> 81,19
>>>>>> 81,09
>>>>>> 80,99
>>>>>>
>>>>>> While Bull's-Eye Broker and Point and figure best practice:
>>>>>> 81,40
>>>>>> 81,30
>>>>>> 81,20
>>>>>> 81,10
>>>>>> 81,00
>>>>>>
>>>>>> In my opinion and most professional traders also it should be kept
>>>>>> as
>>>>>> simple and straightforward as possible. Point and figure usually use
>>>>>> round
>>>>>> numbers and decimals.
>>>>>>
>>>>>> Also, in the end it doesn't matter as long as you make money. By
>>>>>> using
>>>>>> one
>>>>>> method of plotting it does not matter as long as it is consistent.
>>>>>>
>>>>>> Next year when we release the true real time version of Bull's-Eye
>>>>>> Broker
>>>>>> this will be better for intraday data.
>>>>>>
>>>>>> Hope this helps.
>>>>>>
>>>>>> Eric
>>>>>>
>>>>>>
>>>>>>>
>>>>>>> Hi Eric
>>>>>>>
>>>>>>> I not send a text file and, in Metastoc ver11. This data is
>>>>>>> obtained
>>>>>>> through conversion of the program Xtick (www.xtick.com) in Metastoc
>>>>>>> ver11.
>>>>>>> Then I converter Downloader Metastoc, convert them to Excel. The
>>>>>>> same
>>>>>>> data
>>>>>>> (date Metastoc ver11) were applied in soft Bull's-Eye Brocer.
>>>>>>> see data "sber03_1" , and Date= 12/24/2009 18:03:00 (24.12.2009
>>>>>>> 18:03:00).
>>>>>>>
>>>>>>> I conversion date on 23.12.2009 and 25.12.2009
>>>>>>> I Send and Metastoc and Excel (11.xls) , and txt file (ss.txt)
>>>>>>> -datefiles
>>>>>>>
>>>>>>>
 
well...the fake we spokje about 2 weeks ago on s&p 500 played out nicely
a fake ...a head fake is an unsupported breakout..ie a high pole in p/f terminology
now we could be in for a bounce
eurusd 4 hour data

iyir0h.gif
 
a closer look at the final down move on 30 min data
looks like that down move has been taken out
a bounce and some overhead res at 2260 area
lets see if this bounce is a fake before another move down


x5xrpt.gif
 
eurusd daily
showing all the trends over the last year
note the last move down/light blue line...now we might have some recoil from that intense move...could be good for stocks with a weaker dollar

2vv757l.gif
 
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