The Point and Figure charting method represents price changes in 'parcels' of rather than bars on normal charts. It was developed as a short-hand for noting changes in price action by traders monitoring fast moving markets before the advent of computers. It's advantage is that it cuts out unnecessary 'noise' and highlights the main trend. It also gives objective buy and sell signals and reliable price objectives or 'counts'.
2013 | EURUSD | GBPUSD | USDJPY |
05 Desember | EUR/USD has bounced higher and broken above the 1.3620 highs. It has pierced above the down-sloping trend-line and is now rising up towards the 1.3740 target, generated from the count from the column up from the recent lows; another target is resistance at 1.3705. On larger box charts – the 25 and 5 | GBP/USD is trading in a consolidation range after pausing in an up-trend. The range lies between 1.6340 and 1.6440; the pair is currently moving up within the range and will probably continue until it reaches the highs at 1.6455. Eventually the dominant short-term bull-trend is expected to resume an | USD/JPY has fallen even lower. It is possible the current correction will be deeper than anticipated. The exchange rate has breached the 45° trend-line and is likely to fall further. The column down from the recent highs gives a down-count to 100.95 which is probably the next target lower. A re-brea |
04 Desember | |||
03 Desember | |||
02 Desember |