Learning to read Price Action with P&F Charting

[dentist007]

a closer look on the 30 min
box size is now $2 by 1 reversal
close
some wild stuff there
green horizontal is where we took the swing trade..a bounce then sideways until we positioned for the fed.the orange/internal trend can track it

 

[dentist007]

a closer look at the latest down move on eurusd
30 min data
support seems to be holding at 1.3650 area
a bull test will come at 1.3700 area prev supp/aqua and trendline/red
or..we break lower

 

[dentist007]

gbpusd/cable
4 hour
a test of trend in 1.6250 area/green trendline
trend res/red at 1.6420 area
21 pips by 3 reversal
hilo plot
lets see what happens

 

[dentist007]

eurusd 4 hour
a test of trend and a bounce
res is at 1.3730 area

 

[dentist007]

spx over the last week
points to watch over the next few days

trend res/red 1821 area
horizontal res 1823 area
prev breakout and trend supp/green and purple is 1810 area
then 1800 aqua trendline
then 1794 yellow
so..we could break higher on low volume or
test the supp/res areas
lets see what happens

 

[dentist007]

whereeas the dow 10 minute has alot more order to the upmove
horizontal res at 16260 area
trend res at 16230 area/red
trend supp and prev breakout point at 16170 area/green
then 16110/aqua
then 16050 horizontal/light purple
and 15960 areas/yellow

so..either we break higher or test the above areas

 

[dentist007]

thinking that we need to see if gold rallies a bit more
4hr data
$4 box
we area at approx 50% of the latest downmove/a prev supp also..light purple horizontal
above there is a prev supp/light orange horizontal at 1224 area and trend res at 1232/red trendline
so now we have a marker for overhead res
support is horizontal down to 1180 area
lets see what happens

 

[ammo]

the eur/jpy may have finished its move

 

[dentist007]

eurjpy 4 hour data
there is a very tender spot at 143 area
why ??
1.prev break
2 trend supp/subjective
bulls need to get tested there

thanks ammo..it is on my radar now

 

[dentist007]

not so fast Robbie...
you might get burnt
its Burns night next month...
cos..the spike upwards on 10th december confuses the price action
in order to get a BETTER VEIW we track the close
p/f thrives on volatility
chart 1
$2.5 box size..res is showing at 1223 area

now if we increase the box size to $3..what do we get
1230 area..prev supp and trend res