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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
15 November	Continuing to consolidate EUR/USD has continued pulling-back and slowly crawling higher in a triangle-like consolidation pattern. This pattern, looks almost like a right-angled triangle with bullish potential, however, the overall short-term trend is strongly bearish after the break below 1.3475, so this consolidation is pro More	At mini-range highs The GBP/USD pair has moved back up into its range after a recent false breakdown. It has now almost reached the range highs at the 1.6110 level. From this level it could rotate lower again and move down to the lows of the consolidation range at 1.5840, with confirmation from a move below . Alternati More	Up-trend kicking higher The USD/JPY pair has continued to rise higher as its steady short-term up-trend continues. There seems to be no reason why it should not carry on. It broke above key resistance at 100.00 – a very bullish milestone - and has now stopped and paused to consolidate, possibly before the next move higher. More
14 November	Continuing to consolidate ahead of data	Back above 1.5900 and in the range	Rising higher - target 100.70
12 November	Triangle forming	Falling to range lows at 1.5900	Breaking higher, 100 eyed
11 November	Bear trend in play	Sideways move continues	Up-trend recovers

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Point and Figure Charting

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