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Point and Figure Charting

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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 December	Bullish recovery continuing 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 More	Range-bound consolidation extends 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 More	Breaking down more strongly 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 More
04 December	Recovery resuming	Consolidating in up-trend	Recovering after pull-back
03 December	Consolidating after break lower	Still pulling-back in up-trend	Resistance now nearer at 103.72 highs
02 December	Consolidating; trend unclear	Continuing higher	Up-trend resuming

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Point and Figure Charting

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