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 |
| 11 October | The longer-term trend is up and remains so as long as 1.3465 holds. The pair has formed a triangle which currently appears to be breaking out to the upside. The most recent bullish column higher is threatening to break above the trend-line. If we get a clear break above the trend-line - signalle | Cable has pulled back after flirting with the neckline of a possible H&S pattern. Despite today's push higher it remains in a short-term down-trend. A breach below the key 1.5900 level would be a major bearish signal with an initial target of 1.57125 and then perhaps even into the 1.47s, the eventua | The strong bullish rally continues to unfold and will probably go higher. The next count shows a target of 98.75 which we have almost already reached, the following of 98.50, which has now already been met, and these are slight warning signs the trend may be weakening. There is potential historica |
| 10 October |
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