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Intraday Point and Figure Trading

  • #421
  • Mar 23, 2012 11:17am Mar 23, 2012 11:17am
Quoting ihelfman
For me, Point and Figure charts works better as support and resistance than entry points. That said, this time may be different, because a break of resistance might be a buy, because the daily and weekly time frames will be bullish if the market closes above your resistance today. On my chart, resistance is at 1.3315.
Do you mean you use point and figure as targets/ exit areas?
  • #422
  • Mar 23, 2012 12:30pm Mar 23, 2012 12:30pm
To help identify support and resistance or supply and demand as places to look for entries. But for me, support and resistance is only one factor of many.
  • #423
  • Mar 25, 2012 4:07pm Mar 25, 2012 4:07pm
Much has been said about the 'obvious' H&S formation on the Daily chart. While I recognize this, I believe that said formation is failing with late week price action for which I am continuing longing even before the dreaded 1.3300. Again, there seems to be an inverted H&S on the H4 which pits it to the bulls. Break above Friday high would be above the neckline of said inversion and we should see some bullish action there off.[By forex4noobs]
LARGE PICTURE
https://lh5.googleusercontent.com/-a...y-c/s576/1.png
Learn more :
~~~>img832.imageshack.us/img832/5033/12mar25.pdf
^^^ORvvv
Inserted Code
https://docs.google.com/open?id=0BxxKzvQ2GlM8ZmRlMjViOTMtNjAyMS00NzUxLWFjMjEtODk0ZjFlNzg5YzQ5
Inserted Code
https://docs.google.com/document/pub?id=1Y5rnn301l8-O_xROiUY15UzqwhHoCWipS6mND6YTepY#id.4lkg9t4ejr1o
  • #424
  • Apr 3, 2012 8:08pm Apr 3, 2012 8:08pm
Quoting nht
Hi,
Sorry guys but I've noticed that uploaded indicator has errors in drawing procedure.
I'm working on two MT4 terminals and switching between them I didn't noticed that I've uploaded wrong file.
Please use attached corrected/fixed indicator.

Best regards
nht
I attached three indicator on the chart, and chageed boxsize of 1.9.02version, but I did not find the difference of them. Am I wrong or if there some errors in code of the indicator. by the way, I used it on two digit quote currency.
  • #425
  • Apr 6, 2012 5:56am Apr 6, 2012 5:56am
Hi extjsjquery,

You have to change >UniqueNum< every time you attach new instance of this indicator to the same chart window.

It doesn’t matter how many Digits your instrument have (currency/commodity/stock). The logic is designed to handle all possible situations.


Best Regards
nht
  • #426
  • Apr 10, 2012 12:38am Apr 10, 2012 12:38am
Over the last six months gains above 1.6000 have been limited and have attracted heavy selling. Sterling has fallen two big figures from this week’s high with the help of the QE3 postponement in the US. This weakness has caused the rate to fall back beneath the 100 day moving average at 1.5831. Strong US jobs data for March would undermine the rate further.
[by livetradingnews]
https://lh6.googleusercontent.com/--...r-Q/s576/4.png
Learn more :
~~~>img38.imageshack.us/img38/4254/12apr09.pdf
^^^ORvvv
Inserted Code
https://docs.google.com/open?id=0BxxKzvQ2GlM8YzZjYTc3NGEtZDYzOS00ZTQwLWFmNTQtOGI4NWEyZDhkODU0
^^^ORvvv
Inserted Code
https://docs.google.com/spreadsheet/pub?key=0AhxKzvQ2GlM8dDBqYWl6XzlEbFZDWFVob0FMbG9nbGc&output=html
  • #427
  • Apr 28, 2012 12:11pm Apr 28, 2012 12:11pm
AUDUSD is in consolidation mode between 1.0245 and 1.0452 after taking out falling trend line resistance set from late February. We do not see an actionable trade setup here for now and will wait for the pair to offer greater directional conviction to look for entry opportunities.27 April 2012 09:33 GMT [By dailyfx]
https://lh5.googleusercontent.com/-w...qUc/s576/1.png
Learn more :
~~~>img217.imageshack.us/img217/9731/12apr27.pdf
^^^ORvvv
A t t a c h m e n t
Inserted Code
https://docs.google.com/document/pub?id=11KPAgRZ6MmReR4dTJfC1R-rot8T6uN2dNyKBOp_BKZU
  • #428
  • May 27, 2012 2:52pm May 27, 2012 2:52pm
--The NZD/USD pair did very little at the end of the day on Friday. After first rising, and then falling – it never really went anywhere. The doji for the session shows how much trouble it is having as buyers try to prop the pair up at the 0.75 support zone.
--With the recent action, it looks as if the market is ready to fall again. The risks in Europe certainly have the markets in no mood to take on massive risk, so to think this pair would fall is hardly a stretch. On a daily close below the 0.75 level – we are sellers. Also, if we get a bounce, we are fading it on the first sign of weakness.[By fxempire]
https://lh6.googleusercontent.com/-b...f8U/s576/1.png
Learn more :
~~~>docs.google.com/open?id=0B9cvIxidsTjvcHUxQ3hDTnFhZUU
^^^ORvvv
~~~>img834.imageshack.us/img834/669/12may27.pdf
^^^ORvvv
Inserted Code
https://docs.google.com/spreadsheet/pub?key=0AhxKzvQ2GlM8dDBqYWl6XzlEbFZDWFVob0FMbG9nbGc&output=html
  • #429
  • May 27, 2012 3:55pm May 27, 2012 3:55pm
Hello to all the members in this thread
I am a new PnF fan
I want to start to know more about it and share with you my ideas
so , please I need to know how to get started .
  • #430
  • May 27, 2012 8:08pm May 27, 2012 8:08pm
There are a few P&F vids posted at insanityindustries.net

We dont use P&F as a breakout method though, but as a method to show supply/demand areas

G.
  • #431
  • May 29, 2012 8:14am May 29, 2012 8:14am
Quoting Peet91
Hello to all the members in this thread
I am a new PnF fan
I want to start to know more about it and share with you my ideas
so , please I need to know how to get started .
Hi Pete91,

Good place to start is to grab book or two. I would recommend Jeremy du Plessis “Definitive guide to point and figure” (link to Amazon - http://tinyurl.com/cnz78wz).

Link below is another document :
http://papers.ssrn.com/sol3/papers.c...ract_id=264717
(Point adn Figure charting: A computational methodology and trading rule performance in the S&P 500 Futures market)

Live charts from OANDA (charts are build using 3H bars) :
http://fxtrade.oanda.com/analysis/po...-figure-charts

There is a lot of free info on the net but after you read du Plessis book you’ll be more aware of what is important and what is just a scam not worth your time and money.
(ie. You can find a lot of examples in Russian forum I’ve mention in my earlier posts)

You can definitely use P&F as the only method to place/manage/close positions but for me is more like roadmap. You can see where possible support/resistance (supply/demand) areas can be, where consolidation took place, what general direction is right now etc.
Of course all this info can be gathered from pure Price Action but in human nature is to put some order in sometimes random and violent chart.

You can use many tools to draw P&F chart, for some you have to pay, some are free. Just download, test, and if you like it spend some time with it to fully understand all pros and cons of this application.


Best Regards
Nht
  • #432
  • May 29, 2012 8:54am May 29, 2012 8:54am
Thanks a lot " nht " for sharing
I appreciate your help and I will start with Jeremy du Plessis “Definitive guide to point and figure” as you recommend . when I have done with my exams
so wish me luck .
  • #433
  • May 30, 2012 6:34am May 30, 2012 6:34am
Setup:
boxsize:10
stepsize:3
Attached Image
  • #434
  • Jun 4, 2012 4:17am Jun 4, 2012 4:17am
Quoting Peet91
Hello ~~~
I am a new PnF fan
I want ~~~get started .
Two very well-known book!
Link to your file↓ Note: The link you sent will expire on June 11, 2012.
Inserted Code
https://www.yousendit.com/download/QlVpb3BBdWN0QTF3SGNUQw
--USDCHF's upward movement from 0.9043 extends to as high as 0.9769. Further rise is still possible next week, and next target would be at 0.9900 area.
--Support is at 0.9500, only break below this level could signal completion of the uptrend.
--For long term analysis, USDCHF has formed a cycle bottom at 0.8931 on weekly chart. Further rise towards 1.0000 would likely be seen over next several weeks.[Written by ForexCycle]
https://lh5.googleusercontent.com/-1...W0M/s576/1.png
> > Learn more! < <
See also:
Inserted Code
http://img213.imageshack.us/img213/5037/12jun03.pdf
^^^ORvvv
Inserted Code
https://docs.google.com/open?id=0B9cvIxidsTjvUGx6dktXRl8tTm8
  • #435
  • Jun 7, 2012 7:13am Jun 7, 2012 7:13am
Setup: 10x3
Attached Image
  • #436
  • Jun 11, 2012 2:11pm Jun 11, 2012 2:11pm
--USD/CAD: Our core bullish outlook for this market has been more than reaffirmed over the past couple of weeks, with the market accelerating back above parity and towards 1.0500 thus far.
--While we continue to project significant upside over the medium-term, risks over the short-term appear to be tilted to the downside so that the market can correct from overbought readings on the daily chart.
--However, any setbacks should now be very well supported ahead of parity and in the 1.0100 area.[dailyfx]
https://lh3.googleusercontent.com/-n...MYY/s576/3.png
Learn more!
Inserted Code
https://docs.google.com/spreadsheet/pub?key=0AhxKzvQ2GlM8dDBqYWl6XzlEbFZDWFVob0FMbG9nbGc&output=html
See also:
>>https://docs.google.com/open?id=0B9cvIxidsTjva1YyMWJfZ1dMa1k<<
>>http://img35.imageshack.us/img35/6121/12jun11.pdf<<
A t t a c h m e n t
  • #437
  • Jun 12, 2012 11:21pm Jun 12, 2012 11:21pm
Hi All,

Is there any "excel" spreadsheet on point & figure for Forex? After google, the template that I've found is mainly for stock & shares.

Any help??

Cheers
  • #438
  • Jun 13, 2012 3:23am Jun 13, 2012 3:23am
Quoting draco76x
Hi All,

Is there any "excel" spreadsheet on point & figure for Forex? After google, the template that I've found is mainly for stock & shares.

Any help??

Cheers
Hello, i think there is. Few hours later i will try to explore my home pc and post here if'll find something.

Greetings.
  • #439
  • Jun 13, 2012 8:06am Jun 13, 2012 8:06am
Quoting puma2
Hello, i think there is. Few hours later i will try to explore my home pc and post here if'll find something.

Greetings.

puma2,

Appreciate that you can post here & share with us, thanks.



Rgds
  • #440
  • Jun 15, 2012 9:16am Jun 15, 2012 9:16am
Quoting draco76x
puma2,

Appreciate that you can post here & share with us, thanks.



Rgds
Hey ,

check out this one: http://www.forexpnf.info/2012/06/15/...eadsheet-free/

if download doesn't start - right mouse button and SAVE AS
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