- 金币:
-
- 奖励:
-
- 热心:
-
- 注册时间:
- 2006-7-3
|
|
楼主 |
发表于 2008-4-20 14:30
|
显示全部楼层
|
3PB CHARTING
This page deals with following the 3pb method, quick and easy, on QCharts, using the Line and Ray drawing tools. One advantage of Qcharts is that if you draw on a chart for a particular stock, the drawing will always remain there, as long as you save the Workspace and keep the same Chart window open within that Workspace. The really nifty thing is that you can change stocks within that window, and if you come back to a chart that you had drawn 3pb or retracements (or anything else) on, those drawing will be saved.
I keep a running 13min, 3pb chart of the Nasdaq Composite, $COMPX. With this, I can tell at a glance if we are long or short, and how close to the break price we are. You can also do this for any stocks that you may be following. I use three tools:
- Line Draw tool, thick Red, for showing a new low price.
- Line Draw tool, thick Green, for showing a new high price.
- Ray Draw tool for showing break prices and latest high or low.
I'll step through this, chart by chart, starting on the first trading day of the millennium.
Be sure that Grid and Cursor Tracking or switched on (Right-click -> Format) in the chart.
First couple of candles are down candles:
Select the Ray Tool from the Drawing Menu . Click once, holding the pointer at the bottom of body of the first down candle. Without moving the pointer, click again to send the ray perpendicularly out to the right. Your chart should look like this:
The next candle closed above the previous one, so it is not an important price. Skip it. Draw red lines connecting each successfully lower price, as shown here:
Once you have three new prices in a range - or four, if you are starting out fresh - you can then draw the break price and the latest new price with the two Ray Lines:
- Your break price is any subsequent price that break above the upper violet Ray line.
- Any candle the closes below the lower Violet ray line, becomes a New Low. At this point, you the redraw the two ray lines, moving the break price (upper line) and new low (lower line) successively lower.
- Remember, break price is always the third new price back, as shown above.
Now let's move forward in time. There were no new prices until the end of the day, when finally $COMPX broke to the long side:
- Note that in the above chart, we have only one new high. Remember that the break from short to long is not confirmed until we have two new highs.
- Therefore you do not need to change the two Ray lines until a second new high is confirmed. This chart shows you, at a glance, that (a) one price has broken (the last candle that is above the top violet Ray line), and (b) the new price is still the bottom violet Ray line. If a new low is established below that lower Violet line before a second new high, then we resume short.
As you can see in the next chart, this is exactly what eventually happened - we resumed short:
At this point, we "move the down markers" accordingly:
- Now how it is easy to count back three prices to get the break price - it's simply three Lines back. You can number these if you want to keep track of how many new low's (or high's) you have in a series; these have fibonacci significance, particularly at 8 and 13 new prices.
- There are two ways to "move the markers" - the two Violet lines that form your break and new prices. You can choose the Selection tool in the Drawing Menu
 then click on the Ray line and drag that line to a new location, or you can simply remove the ray line by Right-clicking on the line and choosing Remove:
I prefer the latter because it is sometimes cumbersome to move existing Ray lines with the mouse.
An example of breaking from short to long (and staying long)
As the market closed on Thursday 1/6, Nasdaq was short with a break price of 3786:
At 10:09 on Friday 1/7, it broke long with one new high at 3799. We did not change the "first down markers" because it was only one new high, and had not yet been confirmed. Then at the next time point, 10:22, we got our second new high, confirming that we were now long:
Now we can move the markers. After two new highs, the new high (top Violet line) is set at the second new high of 3811.20; break price remains at the previous new low of 3720:
After one small down candle, we then see our third new high - barely - at 3811.86. At this juncture, we move the break price up from the previous low to the penultimate low at 3751.89:
Time passes and there are no new prices, high or low, until we reach our fourth new high of 3816.37 at 14:29. At this point, we move the break price (lower Violet Ray line) up to the third price back, which is the First New High of 3799.17:
 |
|
|
[复制链接]
Now you need to draw the vertical lines of the first box. Because the box size is 23 points "high", it is also 23 minutes "wide." Because the market opens at 9:30, the first box is drawn at 9:53, as shown below: 
Now draw your first Gann Line, a simple 1x1 or 40 degree angle. In Raven, use the "Ray" tool which extends the line in one direction. Start the line at the top of the box, and extend it down to the lower right hand corner of the box. The ray extends beyond that, creating the first Gann angle. 
Now draw the next box to the right. This is simply a further 23 minutes, i.e. 9:53 + 23 = 10:16. Then you can draw a 1 x 2 line down, originating in the upper left hand corner of the first box, and ending in the lower right hand corner of the second box, as shown below. The line extends onward, but you anchored it at the lower right hand corner of the second box. Note how prices followed this line down, then left the line at the end of the second box. 
Now draw Gann Lines upward from the same first box, this time originating in the Lower Left Hand Corner. Draw your first 1 x 1 line up through the Top Right of the First Box, and your 1 x 2 line through the Top Right of the Second Box, as shown below. Note how prices followed the 1 x 1 line up, and reversed at the end of the second box. 
You can also extend boxes downward, every 23 points, as shown below. This allows you to draw a 2 x 1 Gann Line downward, intersecting with the Box that you drew. Note how prices at the open followed this 2 x 1 line down and reversed at the half-box. 
This is a summary of the lines you have drawn. The blue labels show where you anchored each line. 
As time progresses, you can continue to draw lines and time boxes. Note how each line acts as support and resistance and, once prices move from one line to the next, they then tend to follow the slope of that line. Note also how often times reversals occur at the vertical box lines (time), or at half boxes. 
Note also that you can draw the horizontal box point lines all at once using the Retracement Tool on Qcharts or Erlangerquote (formerly Ravenquote). The setup is shown here: 
Continuing, here are two illustrations of using the boxes for targets. Once you see a possible 1-2-3 reversal setting up (see numbers, in the chart below) then you can calculate your targets for wave3 and possibly wave 5, using either the Gann Lines and Boxes (first chart below), or a Fibonacci-based wave target (second chart below). 
