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Point & Figure Chart
Point & Figure charts consist of columns of X’s and O’s that represent filtered price movements. X-Columns represent rising prices and O-Columns represent falling prices.
Time is not a factor in P&F charting; these charts evolve as prices move. No movement in price means no change in the P&F chart.
- Filter insignificantprice movements and noise.
- Focus on important price movements.
- Remove the time aspect from the analysis process.
- Make support/resistance levels much easier to identify.
- Point and Figure patterns can be categorized by:
- “Breakout of a Triple Bottom”.
- “Breakout of a Triple Top”.
- “Saucer Bottom”.
- “Upside breakout of a Symmetric Triangle”.
- “Downside breakout of a Symmetric Triangle”.
- “Upside breakout of an Ascending Triangle”.
- “Downside breakout of a Descending Triangle”.
- “Upside breakout of a Bearish Trend”.
- “Downside breakout of a Bullish Trend”.
Downside breakout of a Triple Bottom in ULTRACEMCO.
Can be: 4433, 4325 & 4217
Looks Good Above: 4558
Multiple support in CADILAHC
Looks good above: 241
Can be: 262, 284 & 305
Looks weak below: 241
Can be: 230, 220 & 209
Used Retracement to draw level.
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