Learning to read Price Action with P&F Charting

update to the eurusd chart posted a couple of days ago
the trend on this chart/down is broken
but we go to 2 box reversal and the picture is not confirmed as yet..maybe nfp might do this
massive overhead res at 1.2996 area/trendline cluster
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2qm19hw.gif
 
ok...so anybody a bit unsure on how we trade
we look at the dow,staying with the 30 min data
we move around box size and reversal
look what we come up with
we could trade from the 50% of the high pole
or...for the nervous ones ,thenjust look
1.break of uptrend /green line..that minor trend that started on 25 march.price was in a consolidation,which was even better for us..tighter stop
then we could take the first breakdown or for a better ride...then the second/purple line
all the bullishnes on that minor uptrend had been taken out by then
keep it simple.no indecators etc etc
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take care with those ftse short trades
we have only tested horizontal support
6230 area is horizontal and trend support...aqua and purple line confluence

Ftse 100 index
daily data 35 pts by 1 reversal
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P&F has always been a favorite study of mine. Market Profile as well.

The fact that P&F is 1. largely independent of timeframe sampling, and 2. largely insensitive to sampling size - makes P&F, IMHO, an excellent tool. I have frequently used it to confirm other technical studies.

I read your posts and I appreciate them.
 
eurusd daily data
6 months data loaded
there is a potential count column/upside vertical count being formed..the red arrow
this can fail.then we go back down
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Quote from bone:

P&F has always been a favorite study of mine. Market Profile as well.

The fact that P&F is 1. largely independent of timeframe sampling, and 2. largely insensitive to sampling size - makes P&F, IMHO, an excellent tool. I have frequently used it to confirm other technical studies.

I read your posts and I appreciate them.
More...
NOpe
p/f should be the first look
why...because on candles/bar you cannot quantify the trend
so with indecators/oscillators are not defining this aswell
 
Quote from dentist007:

NOpe
p/f should be the first look
why...because on candles/bar you cannot quantify the trend
so with indecators/oscillators are not defining this aswell
More...

He was giving you a complement
 
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