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 |
| 13 December | EUR/USD has started to pull-back from the 1.3810 highs. So far the pull-back seems quite tame and it is probably just a correction of the dominant up-trend, which will resume once again eventually. A break below 1.3730, however, would be quite a bearish sign and indicate the correction was likely | The breakout from the flag pattern looks like it was a fake and cable has now fallen back down again and is continuing in a sideways mode. Price action is currently finding support from the range lows from where it will probably rise back up to the from where it is expected to rise back up to the ra | USD/JPY had resumed its up-trend and broken above multi-year highs at 103.75, reaching a new high of 103.90. It has since pulled back to an old 45° trend-line at 103.55, where it has found support. There is a possibility the pull-back will extend down to the old resistance level at 103.35, but, it w |
| 11 December | |||
| 10 December | |||
| 09 December |
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