P&F charts suck, don't use them...

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Jalarupa
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Postby Jalarupa » Tue Oct 04, 2011 4:17 am

cmac813 wrote:I'm interested in what you guys are doing with PnF here but I'm completely new and lost about what you guys are talking about. I've read the end of es pips thread when PnF first came up and I've read the beginning of this thread and I'm confused about if you guys are trading the PnF or just using it as extra confidence to take a trade.

Should I stop reading the thread and maybe read a book or something on PnF charts and how to use them or if I read through the thread will that help me more?

The thread looks interesting, now I just need to figure out what you guys are talking about. Thanks.


Hi

AFAIK we have yet to discuss the various entry signals that a PnF chart generates. But I have to agree with the consensus here. The best way to use this analysis is to watch it in relation to your current trading setups and see if by applying DOP S&R SUPP/DEM CC's you can make a stronger case for pulling the trigger which is often the case.

Just be cognizant of the fact that it takes price longer to generate candle data so bredin's alarm is going to be a wonderful addon.

Also remember TRO's teachings in NLA. "if price isn't making a HH or LL then..."

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Postby zhaozilong » Tue Oct 04, 2011 4:32 am

bredin wrote:Exactly Like Seiden, no different to any other S/D method.

I have not used the II_SupDem indicator in a very long time

Perhaps you could check it out, I'd hate to do too much work :)

G.


Hello Bredin or anyone,

is it possible to post a chart showing supply/demand zones for a PnF chart? not sure how to spot such zones in a PnF chart.

thanks.

-zhao

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Postby PebbleTrader » Tue Oct 04, 2011 4:36 am

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Postby PebbleTrader » Tue Oct 04, 2011 4:39 am

"is it possible to post a chart showing supply/demand zones for a PnF chart? not sure how to spot such zones in a PnF chart."

Read my prior posts.
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PebbleTrader
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Postby PebbleTrader » Tue Oct 04, 2011 4:49 am

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Postby PebbleTrader » Tue Oct 04, 2011 5:19 am

Expediency Factor:

Most traders invariably seek the fastest and easiest way to get the things they want right now with little or no concern for the long term consequence of their behaviors.

Most do what is fun and easy rather than what is necessary for success.

:shock:
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Postby bredin » Tue Oct 04, 2011 5:40 am

PebbleTrader wrote:Bredin:

"The High-Low Method uses the high or the low, but not both. Sometimes both are ignored. Here are the rules for the High-Low method.

When the current column is an X-Column (rising):

Use the high when another X can be drawn and then ignore the low.
Use the low when another X cannot be drawn and the low triggers a 3-box reversal.
Ignore both when the high does not warrant another X and the low does not trigger a 3-box reversal.

When the current column is an O-Column (falling):

Use the low when another O can be drawn and then ignore the high.
Use the high when another O cannot be drawn and the high triggers a 3-box reversal.
Ignore both when the low does not warrant another O and the high does not trigger a 3-box reversal."

Bredin, How did you do it when:

When the current column is an X-Column (rising):

The high can draw another "X", but the low of the same candle can create a reversal?


That is the must fix issue... note that in the rules that the P&F is drawn AFTER the bar closes, wheres mine draws checks every tick for a new box...

this creates an issue in dealing with the old data: namely that price can, tick by tick, create a new high, then reverse and create a new column during the same bar....

I am resolving this issue currently, I will probably apply OEF to determine which extreme to deal with first.

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bredin
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Postby bredin » Tue Oct 04, 2011 5:47 am

zhaozilong wrote:
bredin wrote:Exactly Like Seiden, no different to any other S/D method.

I have not used the II_SupDem indicator in a very long time

Perhaps you could check it out, I'd hate to do too much work :)

G.


Hello Bredin or anyone,

is it possible to post a chart showing supply/demand zones for a PnF chart? not sure how to spot such zones in a PnF chart.

thanks.

-zhao


The same rules apply as with timed candles.

heres a markup of AU 10x2

Image

see how its the same as normal??

G.
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Postby PebbleTrader » Tue Oct 04, 2011 6:00 am

Homework Assignment for zhao (no one else is allowed to answer)

Your options to choose from are:
-SUPPLY
-DEMAND
-POINT OF CONTROL (I know you know this one)
-MINOR ACCUMULATION
-DISTRIBUTION

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A = ?
B = ?
Z = ?
X = ?

zhao, we promise we won't laugh if you guess wrong. :lol:
Last edited by PebbleTrader on Tue Oct 04, 2011 6:46 am, edited 1 time in total.
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Postby PebbleTrader » Tue Oct 04, 2011 6:28 am

Manta SUPPORT:

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