PA, S/R, ZL, EXTREMES & MOMO

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MightyOne
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Postby MightyOne » Fri Sep 02, 2011 5:31 am

Plot from tick data or second/minute bars.

The High/Low or Close method is not worth my time.

I use a 5 x 2 & a 10 x 2 for everything up to the weekly level.

I hear that 10 x 3 is popular but I'd rather increase the box size than go beyond a 2-box.

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MightyOne
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Postby MightyOne » Fri Sep 02, 2011 5:37 am

Jalarupa wrote:NS with this strategy, one enters on a line... If price closes over a line after your entry in relation to your line, then you are either in the money or out of pocket.

Your options are then to add on the pull backs or subtract on the pullbacks - or exit to forego further loss or exit to take some off the table.

MO always says it doesn't matter if you are right right away, as long as you are right in time... Or something to that effect...

I often have price going against me for hours until she finally turns and shows her true ways.


S&R is a line which price can cross but no t close beyond.

If your trade is based on a three-hour CC then you cannot be wrong until a three-hour CC closes.

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PebbleTrader
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Postby PebbleTrader » Fri Sep 02, 2011 11:29 am

You guys should check out Bredin's new video he did on 3 X CC...

Sounds like there will be more to come.
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Jalarupa
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Postby Jalarupa » Fri Sep 02, 2011 1:41 pm

MightyOne wrote:
Jalarupa wrote:NS with this strategy, one enters on a line... If price closes over a line after your entry in relation to your line, then you are either in the money or out of pocket.

Your options are then to add on the pull backs or subtract on the pullbacks - or exit to forego further loss or exit to take some off the table.

MO always says it doesn't matter if you are right right away, as long as you are right in time... Or something to that effect...

I often have price going against me for hours until she finally turns and shows her true ways.


S&R is a line which price can cross but no t close beyond.

If your trade is based on a three-hour CC then you cannot be wrong until a three-hour CC closes.


My problem it seems is; I'm always a little early to the party... :cry:

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Jalarupa
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Postby Jalarupa » Sun Sep 04, 2011 5:33 am

I'm sure many of you have already played with these MT4 P&F indi's

http://www.forexfactory.com/showthread.php?t=86244

http://www.forexfactory.com/showthread.php?t=19253

If not here they are...

[edit] so far as I've seen this one is the best...

http://www.forexpnf.info/point-and-figure/

there is a free one on the site... haven't looked into the paid for version yet...

Exciting stuff! :D

Image

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pp2
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Postby pp2 » Sun Sep 04, 2011 11:22 am

Jalarupa wrote:Exciting stuff! :D

Image


Gorgeous chart Jal, simplicity is the best! :D

I want to ask --- are you planning to use point and figure in a major way, maybe to complement some of your main methods? It'll be pretty cool to have a new kreslik thread for P&F with someone knowledgeable leading the way --- just a suggestion and thanks :)

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MightyOne
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Postby MightyOne » Sun Sep 04, 2011 2:16 pm

jal, each box is a price & that means that horizontal S&R lines are drawn through the middle of a box; either the last O is support or the price under it.

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Jalarupa
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Postby Jalarupa » Sun Sep 04, 2011 5:16 pm

MightyOne wrote:jal, each box is a price & that means that horizontal S&R lines are drawn through the middle of a box; either the last O is support or the price under it.


Thanks MO ;-)

Really appreciate the input.

The indi seems to draw everything very nicely. Keen to watch it in the live market.

Do you trade the triple bottom / top breakout...? Or is it still business as usual entering on extremes? (I suppose you can do the above in the direction of profit...)

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Jalarupa
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Postby Jalarupa » Sun Sep 04, 2011 5:23 pm

pp2 wrote:
Jalarupa wrote:Exciting stuff! :D

Image


Gorgeous chart Jal, simplicity is the best! :D

I want to ask --- are you planning to use point and figure in a major way, maybe to complement some of your main methods? It'll be pretty cool to have a new kreslik thread for P&F with someone knowledgeable leading the way --- just a suggestion and thanks :)


I wanna use P&F as one of many tools to to determine long term price action

MightyOne is the knowledgeable one; Oh Captain my Captain!

I just know google :oops:

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MightyOne
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Postby MightyOne » Mon Sep 05, 2011 2:01 pm

I am far more arrogant than knowledgeable but knowledgeable none the less ;)

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