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Point & Figure Analysis

  • #81
  • Feb 9, 2015 1:41am Feb 9, 2015 1:41am
Hi Dindulkar, just wanted to say keep up the great thread.

I want to contribute eventually when I become proficient at PnF. Currently I'm studying Wyckoff method with Golden Gate University and applying the analysis and trading methods to the vertical chart. I want to be looking at the PnF 'cause' too with some of my bigger moves, especially in LT accumulation or distribution however the issue is I have MT4 which probably as you know is terrible for PnF.

I've downloaded Ninja Trader and looking to demo the FX pairs to carry out PnF analysis before putting on a trade on my vertical charts.

I've read Weiss' and Pruden's book which has a short section on PnF.

Can you kindly recommend anything a bit more substantial on the subject? Or any online video tuition?

Again keep up the great work!
  • #82
  • Feb 9, 2015 4:54am Feb 9, 2015 4:54am
Quoting Dindulkar
{quote} Ninja Trader platform also provides P&F charts with real time update and u can use a demo accnt with fxcm.. It's good but it has small mistakes, which can be identified if u have good understanding of P&F.. U can still use it..
Thank you for the tip. I am still trying to fully understand the P&F charts. I have been trying to draw some by hand.
  • #83
  • Feb 9, 2015 6:08am Feb 9, 2015 6:08am
Quoting olambeth
Hi Dindulkar, just wanted to say keep up the great thread. I want to contribute eventually when I become proficient at PnF. Currently I'm studying Wyckoff method with Golden Gate University and applying the analysis and trading methods to the vertical chart. I want to be looking at the PnF 'cause' too with some of my bigger moves, especially in LT accumulation or distribution however the issue is I have MT4 which probably as you know is terrible for PnF. I've downloaded Ninja Trader and looking to demo the FX pairs to carry out PnF analysis before...
Thanks for the motivation Olambeth.. Plz chk post 1..
That book is very important for ur understanding to P&F..
I did chk for online videos, but it's very limited.. Chk youtube for basics if u need..
I came to learn about P&F only after learning Wycoff, U can always share the accumulation & distribution setups in this thread.. u r very welcome..
Post a sample chart after u have installed Ninja trader..
  • #84
  • Feb 9, 2015 6:12am Feb 9, 2015 6:12am
Quoting redgreen
{quote} Thank you for the tip. I am still trying to fully understand the P&F charts. I have been trying to draw some by hand.

Hi RedGreen, Glad to knw u wanna learn P&F.. It's simple don worry u will get used to it..
Since u said u have been tryin to draw by hand i would suggest its tedious..
Plz Chk post 1 and use tht.. It will help u... its very clear and simple...
Y u dont need real time update we dont take trades or jump in all the moves..
u only need to update the charts only twice or thrice for a pair daily..
  • #85
  • Feb 9, 2015 6:56am Feb 9, 2015 6:56am
Quoting Dindulkar
{quote} Hi RedGreen, Glad to knw u wanna learn P&F.. It's simple don worry u will get used to it.. Since u said u have been tryin to draw by hand i would suggest its tedious.. Plz Chk post 1 and use tht.. It will help u... its very clear and simple... Y u dont need real time update we dont take trades or jump in all the moves.. u only need to update the charts only twice or thrice for a pair daily..
I keep meaning to post some charts in this thread but i'm busy trying to trade them!

I just wanted to point out that I think it's very important to draw the charts by hand when you're starting out. It's integral to understanding how the charts are drawn and I believe makes it easier in the long run. Yes it can be a little bit tedious but if you start with something like a 60min 10x3 chart you don't have to update it too often and it gives a nice overview of the market. I'd recommend picking a previous top and drawing the chart by hand from there. For example the 21st of January would be a nice place to start.
  • #86
  • Feb 9, 2015 8:33am Feb 9, 2015 8:33am
Quoting KinsaleForex
{quote} I keep meaning to post some charts in this thread but i'm busy trying to trade them! I just wanted to point out that I think it's very important to draw the charts by hand when you're starting out. It's integral to understanding how the charts are drawn and I believe makes it easier in the long run. Yes it can be a little bit tedious but if you start with something like a 60min 10x3 chart you don't have to update it too often and it gives a nice overview of the market. I'd recommend picking a previous top and drawing the chart by hand from...
Yes, Kinsale it's essential to learn on how to plot the charts manually but only if u r willing to spend the time..
It's simple & no need to worry abt it..
  • #87
  • Feb 9, 2015 8:41am Feb 9, 2015 8:41am
Quoting Dindulkar
{quote} Yes, Kinsale it's essential to learn on how to plot the charts manually but only if u r willing to spend the time.. It's simple & no need to worry abt it..
That's my point, you have to be willing to spend the time. It's completely up to each person but with the sheer amount of poorly executed P&F software that exists out there it has been very helpful to me to have the knowledge from manually creating charts to know when something isn't right.

My two cents, people can do what they want!
  • #88
  • Feb 9, 2015 8:59am Feb 9, 2015 8:59am
I like the idea of hand drawing p&f charts. I will try it with 1h data and see how it goes.
  • #89
  • Feb 9, 2015 9:17am Feb 9, 2015 9:17am
Quoting KinsaleForex
{quote} That's my point, you have to be willing to spend the time. It's completely up to each person but with the sheer amount of poorly executed P&F software that exists out there it has been very helpful to me to have the knowledge from manually creating charts to know when something isn't right. My two cents, people can do what they want!
Yes Kinsale Exactly.. Eventhough i started out learning from Caldera's work but i took time to learn how to draw the charts without any software..
That helped me identify small mistakes that i get wen i try to use ninja trader P&F..

Once u learn how to do it, its the most relaxed method i have come across.. It helps me to follow the trend, because stayin with trend basically gives u more winners & with knowledge of whr to enter u get good risk reward.. Wat more we want as a trader..
  • #90
  • Feb 9, 2015 9:20am Feb 9, 2015 9:20am
Quoting redgreen
I like the idea of hand drawing p&f charts. I will try it with 1h data and see how it goes.
Post ur work Redgreen.. Would love to see it.. For a start u can use excel to plot manually will be easy for u to understand the trend and easy for u keep track of ur work..

U have to learn the book by Jeremy Du Plessis.. It is mandatory..
  • #91
  • Feb 9, 2015 9:30am Feb 9, 2015 9:30am
Why don't we start a Google spreadsheet file for drawing some charts?

I have a template already set up. If people would like some help or are interested in trying it I can share it with people.
  • #92
  • Feb 9, 2015 9:36am Feb 9, 2015 9:36am
Quoting KinsaleForex
Why don't we start a Google spreadsheet file for drawing some charts? I have a template already set up. If people would like some help or are interested in trying it I can share it with people.

Thats a nice start Kinsale.. If u dont mind, can u post the template i will make it available in post 1 for easy access..

Nice if we have more users for P&F.. Will be grt to have ideas shared across the grp..
  • #93
  • Feb 9, 2015 11:47am Feb 9, 2015 11:47am
Quoting Dindulkar
{quote} Thats a nice start Kinsale.. If u dont mind, can u post the template i will make it available in post 1 for easy access.. Nice if we have more users for P&F.. Will be grt to have ideas shared across the grp..
Sorry for the delay.

I decided to create a new gmail address and account to set this up.

Here's the link to the spreadsheet - https://docs.google.com/spreadsheets...it?usp=sharing

It's a view only link at the moment. If people want to keep it a bit more secure we can set it up so that people have access through their own email. Whatever you'd like. We can keep it public but then we're open to anyone with the link editing it. It'll be a lot easier if people have a gmail address to gain access.

Let me know if A. people are interested and B. what people want to do about the privacy settings.

Cheers!
  • #94
  • Feb 9, 2015 4:53pm Feb 9, 2015 4:53pm
Can someone please post their version for gbpjpy 1h? Just the latest 4 or 5 collumns. Mine is different than what I get with interceptor so I am trying to figure out the correct method. I tried to attach some screenshots but I couldn't.
  • #95
  • Feb 9, 2015 4:58pm Feb 9, 2015 4:58pm
I am using 20x3 for gj
  • #96
  • Feb 9, 2015 10:59pm Feb 9, 2015 10:59pm
Quoting redgreen
Can someone please post their version for gbpjpy 1h? Just the latest 4 or 5 collumns. Mine is different than what I get with interceptor so I am trying to figure out the correct method. I tried to attach some screenshots but I couldn't.
I have used 10*3 in 15 min TF.. It worked for me.. If u have read the book thr will be line it would say, it's a trial & error method..
Thats y i said try to use caldera's excel work u can try all sort of possibilities..
So u can finalize which works for u.. Always try ur setups on demo first wen ur learnin..
Can u tell me y r u having a prob in posting a image, others have posted some images too.. Can u plz chk image size & extension wen ur tryin to post..
  • #97
  • Feb 9, 2015 11:04pm Feb 9, 2015 11:04pm
Quoting KinsaleForex
{quote} Sorry for the delay. I decided to create a new gmail address and account to set this up. Here's the link to the spreadsheet - https://docs.google.com/spreadsheets...it?usp=sharing It's a view only link at the moment. If people want to keep it a bit more secure we can set it up so that people have access through their own email. Whatever you'd like. We can keep it public but then we're open to anyone with the link editing it. It'll be a lot easier if people have a gmail address to...

Its a niie Start Kinsale, i hope someone can make a better use for it.. Thy can copy it & have their own file even without sharing..
  • #98
  • Feb 10, 2015 12:58am Feb 10, 2015 12:58am
I use pen and paper for my charts but I copied this one into excel so I could post it here.

Attached Image


What I see on interceptor is different. Maybe it uses 20x2 ?

Attached Image


I am using the methods described on stockcharts. I haven't read yet any other material on this subject.
  • #99
  • Feb 10, 2015 1:49am Feb 10, 2015 1:49am
Quoting Dindulkar
{quote} I have used 10*3 in 15 min TF.. It worked for me.. If u have read the book thr will be line it would say, it's a trial & error method..
I haven't read the book yet.
  • #100
  • Feb 10, 2015 2:22am Feb 10, 2015 2:22am
Quoting redgreen
I use pen and paper for my charts but I copied this one into excel so I could post it here. {image} What I see on interceptor is different. Maybe it uses 20x2 ? {image} I am using the methods described on stockcharts. I haven't read yet any other material on this subject.
Attached Image


The second column on your excel chart is wrong, there shouldn't be a O at the top. The last column should also have 3 boxes filled if you're using 20x3.

Quoting redgreen
oanda and stockcharts offer p&f charts online trade interceptor is a trading platform with p&f charts but you can't change the settings for them
I noticed this comment the other day, you can change the settings for the charts, click P&F in the bottom right hand corner. Change them to 20 box size, 3 reversal, High X source as "High" and Low X Source as "Low".

Attached Image (click to enlarge)
Click to Enlarge Name: TradeI_GJ.png Size: 113 KB


Here's my 20x3 trade interceptor chart, you're using the wrong settings i'd say.

Be careful with Trade Interceptor charts, i've spoken at length with one of their programmers on Skype and using Google sheets to get their charts printing correctly. I'm still not convinced that they are perfect.
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