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PebbleTrader
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Postby PebbleTrader » Tue Sep 13, 2011 4:03 pm

"Plotting Point and Figure charts is like filling and emptying glasses of water. Imagine the boxes are straight-sided glass tumblers. When plotting a column of Xs, you are filling a glass and only once it is full do you plot the X, stack the full glass on top of the previous one and pick up an empty glass to start filling again. When plotting a column of Os you are emptying a glass and only when the glass is empty do you plot the 0, stack the empty glass and pick up a full one ready to start emptying it."

-The Definitive Guide to PnF
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MightyOne
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Postby MightyOne » Tue Sep 13, 2011 4:21 pm


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Jalarupa
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Postby Jalarupa » Tue Sep 13, 2011 4:39 pm

Image

EU 5x2 Ticks P&F
Dukascopy

Looks much better than what we got with MT4

[edit] less chaotic 10x2

Image
Last edited by Jalarupa on Tue Sep 13, 2011 5:11 pm, edited 1 time in total.

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Postby PebbleTrader » Tue Sep 13, 2011 4:46 pm

I converted MO's USD/CHF, 10x2 to graph paper PnF:

http://i54.tinypic.com/1564wo8.jpg

I'm not sure I'm doing the reversals right.

Look right?

MO - "Draw two "x" on reverse to 0.8810" Really? How does that only equal 2 "x"'s?
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Postby MightyOne » Tue Sep 13, 2011 5:13 pm

With a 10 x 2 you NEVER draw a reversal of 10; it is 20 to reverse & then you can add every 10.

So price is falling: OOOO
It rallies 10: X
You still have: OOOO
It rallies another 10: OOOOXX
Another 10: OOOOXXX
Declines 10: OOOOXXX
Declines another 10: OOOOXXXOO

With a 10 x 1 (one box reversal) if you have a single "X" reversal and price starts falling then the O's are plotted in the same row under the lone X.

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Postby MightyOne » Tue Sep 13, 2011 5:22 pm

"MO - "Draw two "x" on reverse to 0.8810" Really? How does that only equal 2 "x"'s?"

Lest red X was 0.8790

O.8800 is not a two box reversal in a 10(pip) x 2(20p)

If price goes to 0.8810 then that is 20p higher than 8790 = two x's.

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Postby PebbleTrader » Tue Sep 13, 2011 5:24 pm

Nice charts Jalarupa,

I'd stick with that if it is drawing them correctly, not morphing or spiking.

Also won't be bogging down MT4 & charts.
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Postby PebbleTrader » Tue Sep 13, 2011 5:34 pm

MO- "Lest red X was 0.8790

O.8800 is not a two box reversal in a 10(pip) x 2(20p)

If price goes to 0.8810 then that is 20p higher than 8790 = two x's."

On the move down, it hit and "filled" the entire box to 0.8770 (the lowest red "X")




From 0.8770 to 0.8780 is 10p, than from 0.8780 to 0.8790 is another 10p,
price has now moved 20p from the bottom of the lowest box, which would signify a column change and the first black "X" up.

I realize this thinking is not what you are doing, but I don't see how you go from 0.8770 to 0.8810 in just 2 boxes?
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Postby MightyOne » Tue Sep 13, 2011 5:44 pm

"... but I don't see how you go from 0.8770 to 0.8810 in just 2 boxes?"


That is why you see FOUR BIG BLACK X's to 8810!

Now price reversed from 8810 to 8790...

8810 to draw black boxes or 8780 to cont. w/ red boxes.

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Postby PebbleTrader » Tue Sep 13, 2011 5:45 pm

This is how I see what you drew, only imagine my big "x"'s aligned in the same column on graph paper.

http://i52.tinypic.com/oau9tc.jpg
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