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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
29 November	Close to strong resistance level EUR/USD's overall trend is unclear but it is rising today and so is expected to continue. There is resistance close by now at 1.3630, only about 15 pips higher. At that level it will probably rotate and pull-back down to perhaps 1.3580-90. There is a new count higher to 1.3730, although 1.3630 wou More	Pulling-back in up-trend Cable has broken out of the range it was in and moved higher. It has reached a high of 1.63725 on the 7.5 pip box for GBP/USD. There has been some weakness this morning which has taken the exchange rate back down to the important 1.6330 support and resistance level and it could continue lower. This More	Pausing in up-trend USD/JPY has pulled back after strongly trending higher. This is probably just a temporary adjustment before the next leg up begins. The pull-back could extend to 101.75 but after that the dominant short-term up-trend will probably resume, with the 103.72 highs targeted next. There is also a new bull More
28 November	Tortured progress higher continues	Breakout above range highs!	Trend higher continuing
27 November	Recovery extends above key resistance	Cable at top of range
26 November	Meeting resistance zone at 1.3550	Pulling-back from range highs	Pausing in up-trend
25 November	Rebound continues	@ range highs	Strongly trending higher

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Point and Figure Charting

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