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 |
| 25 October | The up-trend continues and will probably extend further. It has just reached resistance from an old minor trend-line at 1.3840 and is consolidating a little. It may pull-back to support from the top of an old triangle pattern at 1.3790, however, the dominant short-term trend is expected to resume af | The short-term trend remains up or sideways. The pair is forming a consolidation pattern, which looks close to completion as it nears the 45° trend-line and which could either be a reversal or continuation but given the past upside bias is most likely to break higher. As far as levels to watch go, y | The USD/JPY pair has broken out of the consolidation pattern it was forming and confirmed the short-term trend as bearish. It has moved boldly down into the support zone and overcome most of the support there but not quite all, given the last remaining level is at 96.95. The breakout has given a new |
| 24 October | |||
| 23 October | |||
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| 21 October |
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