New posts

Reply to thread

Message

ChartCraft method was developed for USA markets and End of day data using Hi and low..

The ChartCraft material is good to read... However I think Box sizes maybe do not translate as well to Australian markets (They should be smaller... But then Chartcraft uses the large box size as an added filter to keep you out of
the less active markets).

I would imagine If we had more context on your chart XJO would be well above the bullish support line, maybe pressing up on a bullish resistance line?

You have a potential High pole there..

Time does not move a P&F chart only Market action.

The chart will speed up and slow down... The top of the pole could have been a consolidation point... Any reversal off such an uncorrected spike.

Is a stop look and listen point.

If the pole retraces 50% Then that is a sign of weakness.

On a chartcraft scaled chart... The large box sizes and reversal.

Make it at the very best a longish medium term chart..

The chart does emphasize an aspect of our mkt Vs USA.

On P&F charts I have seen Our mkt has a very narrow top not much work or activity.
USA mkts have much more activity at the top more backing and filling.

Sideways is not time ... It is (esp on these charts) distribution.

From P&F charts XJO got overbought... NASDAQ etc had real distribution
preceding the recent weakness..

motorway

<blockquote data-quote="motorway" data-source="post: 136555" data-attributes="member: 7360">ChartCraft method was developed for USA markets and End of day data using Hi and low..The ChartCraft material is good to read... However I think Box sizes maybe do not translate as well to Australian markets (They should be smaller... But then Chartcraft uses the large box size as an added filter to keep you out of the less active markets).I would imagine If we had more context on your chart XJO would be well above the bullish support line, maybe pressing up on a bullish resistance line?You have a potential High pole there.. Time does not move a P&amp;F chart only Market action.The chart will speed up and slow down... The top of the pole could have been a consolidation point... Any reversal off such an uncorrected spike.Is a stop look and listen point.If the pole retraces 50% Then that is a sign of weakness.On a chartcraft scaled chart... The large box sizes and reversal.Make it at the very best a longish medium term chart..The chart does emphasize an aspect of our mkt Vs USA.On P&amp;F charts I have seen Our mkt has a very narrow top not much work or activity.USA mkts have much more activity at the top more backing and filling.Sideways is not time ... It is (esp on these charts) distribution.From P&amp;F charts XJO got overbought... NASDAQ etc had real distributionpreceding the recent weakness..motorway</blockquote>

[QUOTE="motorway, post: 136555, member: 7360"] ChartCraft method was developed for USA markets and End of day data using Hi and low.. The ChartCraft material is good to read... However I think Box sizes maybe do not translate as well to Australian markets (They should be smaller... But then Chartcraft uses the large box size as an added filter to keep you out of the less active markets). I would imagine If we had more context on your chart XJO would be well above the bullish support line, maybe pressing up on a bullish resistance line? You have a potential High pole there.. Time does not move a P&F chart only Market action. The chart will speed up and slow down... The top of the pole could have been a consolidation point... Any reversal off such an uncorrected spike. Is a stop look and listen point. If the pole retraces 50% Then that is a sign of weakness. On a chartcraft scaled chart... The large box sizes and reversal. Make it at the very best a longish medium term chart.. The chart does emphasize an aspect of our mkt Vs USA. On P&F charts I have seen Our mkt has a very narrow top not much work or activity. USA mkts have much more activity at the top more backing and filling. Sideways is not time ... It is (esp on these charts) distribution. From P&F charts XJO got overbought... NASDAQ etc had real distribution preceding the recent weakness.. motorway [/QUOTE]

Verification