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

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PebbleTrader
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Postby PebbleTrader » Sun Oct 09, 2011 1:09 pm

Ok, I will just show you:

Profit targets...

Image
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PebbleTrader
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Postby PebbleTrader » Sun Oct 09, 2011 1:20 pm

^--------------------- I know it looks a bit messy, but just go through it column by column, looking at if the line will be or still be sloping down and read what I wrote in the white boxes above...
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MightyOne
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Postby MightyOne » Sun Oct 09, 2011 6:00 pm

PebbleTrader wrote:Are the numbers (24 minutes, etc. ) based off of stats or screen time with personal experience?


Candles complete the majority of their range in the 40-60% completion area.

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Postby PebbleTrader » Sun Oct 09, 2011 6:19 pm

Thanks.

That makes more sense now.

Agrees with the PnF stats I was showing earlier too.
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Postby PebbleTrader » Sun Oct 09, 2011 6:30 pm

A lot of the things I'm posting is nothing more than random ideas...Not stuff I'm actually trading...

It could end up being a great idea that develops into something or it could be just enough that causes someone else to see it in a different way that I was unable too and then that in turn develops into something useful.

It is just throwing out ideas, modifying, discarding, absorbing, collaborating, etc.
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Postby PebbleTrader » Sun Oct 09, 2011 6:31 pm

I thought the last idea had some interesting potential.

I looked at other areas on charts with it and didn't like it 100% as is.

Have to think about it some more to see how to improve it...
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Postby MightyOne » Mon Oct 10, 2011 1:43 am

It is not about how great the idea is but how well you implement it ;)

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Postby Jalarupa » Mon Oct 10, 2011 4:07 am

Hey everyone,

I just want to say thank you for all your hard work and effort in running with MO's information and just allowing this thing to grow so organically...

bredin and PebbleTrader thanks for the toys they really are something awesome & MO thank you for coming back and enlightening us further. You are truly kind souls.

I'm gonna be away from the charts for about a month at auspicious time known as Kartik; to reflect, meditate and study scripture.

I look forward to coming back in mid November to see where this discussion has lead.

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Postby PebbleTrader » Mon Oct 10, 2011 6:27 am

Thanks Jalarupa as well :)

Without the contributions from just a few of us (you know who you are :) ), Point and Figure would have forever remained what it was...instead of what it is becoming.

Glad to hear you will be taking time off to do as you say. Although I do realize the importance of money in the system. There are much much more important things to do and experience then to always be accumulating money.

I started contributing more here when a friend suggested I try to find a way to give back. In addition, I had found personal growth, collaboration, and fun.

Look forward to your return :)
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Postby PebbleTrader » Mon Oct 10, 2011 9:45 am

"The rationale for the importance of the bullish support line at 45° is that, if the price cannot maintain a rise of at least the value of I box every time it makes a reversal, it can no longer be considered to be in a bull trend. This is because the 45° line is drawn diagonally through the imaginary comers of the boxes, meaning that speed or trend of the line is 1 : 1 , or 1 box up and 1 box across. If this doesn't sound that onerous, then you probably haven't thought carefully about what is required to maintain that 45° trend.
Remember how a 3 -box chart is constructed. A reversal means the price must change direction by at least the value of 3 boxes. This means that no column can have less than 3 boxes. If the price rises by 3 boxes and then falls by 3 boxes, the trend is horizontal. In order, therefore, to maintain a 45° trend, the O marking the bottom of each alternate column must be 2 boxes higher than the O at the bottom of the previous column of Os. To do this, the price must rise by 2 boxes more than the reversal. This means that to maintain a 45° trend in a 3 -box reversal chart, the price must rise by 5 boxes each time it reverses by 3 ."

This is from the book, but think about that for a minute...
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