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 |
| 08 Noviembre | The EUR/USD pair has fallen rapidly, making new lows at 1.3295. The dramatic move down came after the ECB surprised investors by lowering their refinancing rate. The short-term trend has now definitively reversed and is down. The 25-pip chart shows a pole reversal at the highs although the 45° trend | Cable has recovered after pulling back temporarily yesterday following the volatile reaction to central bank news. It didn't break down below the 45° trend-line, however, so the short-term up-trend remained intact. It has now clawed its way back up and I would expected it to continue higher, rising | The USD/JPY has fallen strongly and broken down below the 45° trend-line, marking a change in the short-term trend. A pole reversal pattern at the highs further augments the bearishness of the break. There is also a bearish count which has now been activated down to 96.25, and prices will probably e |
| 07 Noviembre | |||
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