Trading with point and figure

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lined up

 

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In supp

 

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Will GBP get bought.?

 

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[cantagril]

Hi cantagril,

we are getting close, I think. I did a PnF chart with the settings of 5 min and 0.13 box seize and that is what I am after for intra-day trading, I believe. If it will work, I don't know yet, but it looks like there are some support and resistance points that one could use. What do you think? Thanks, gis
View attachment 272774

Congrats!....it is indeed a p&f chart

And one more thing, at www.stockcharts.com they give you the option of method of ‘Traditional’ as well as ‘ATR’. Which one works better or are there even more options?

From memory the "traditional" type is just a calculation to give a default size, rather like Fineco. I'd suggest fiddling around on the free service with the various different parameters - I'm sure they have all sorts of tuition to help. I think that real time you will have to pay for.

As far as which "works" - unless you want to dive into the predictive aspects immediately (vertical/horizontal counts etc) I think it's important to remember that any chart is based on the same data available to anyone. Imo, p&f used in a basic manner - establishing trends and s&r etc - is no more than a lens through which things that were blurred, frequently come into surprisingly stark focus. What this clearer picture then means is still open to interpretation, so in the end, it's a tool.

I have found it very helpful for the last year or so and I'm fairly sure that Dentist wouldn't have spent a decade or so using it if he didn't find it useful. A lot of people give up on it very quickly because it requires thinking a little differently to standard time&price charts, and a surprising number simply don't understand what p&f can achieve.....usually the same kind of people who make absolute claims/judgements for or against the use of TA as "working" .....or not. Does a moving average "work"? Does statistical analysis "work"? Does a normal distribution "work"? If you are sufficiently determined to look into p&f in a substantive way, there's a good chance that you'll be able to exploit it to make money

It's up to you to do your homework to see if p&f is for you but when it comes to how to use it, I'd suggest that Dentist's earlier thread (and the original p&f thread from ET posted by Holy Grail) are very good places to start.....

Sei mutig genug, du selbst zu sein

 

[cantagril]

On a different note: it's Bonjour from me...... and it's colder in the Gers than it is in London. There's no proper internet where we're staying and to add insult to injury, my charger died. Radio silence until I'm back next week.

Hasta...as they say a tad further south.

 

[gismeu]

Hmm, ‘bonjour’ is French, London is in the UK and ‘hasta’ further south would be Spain.
So somewhat confusing re your nationality.
Anyway, thanks for your pointers as to what to read, more in the coming days.

gis
P.S. Ja, mutig bin ich, and the weather in Florida is always very nice!

 

[Dentalfloss]

Mornin folks 😍 😍 😍 🥰 🥰 🥰 🥰 ☕ ☕ 💋 💋 💋 😻 🆒 🍷🍷

 

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A quick look at the Dow

 

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change inputs

 

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