Forex point and figure trading formula- Point and Figure charts

Forex point and figure trading formula- Point and Figure charts- “Point & Figure” is a charting method that follows changes in prices rather than time. Most charting systems (including candlesticks, line charts and bar charts) track values based on specific timeframes, so you can look at how values change over the course of minutes, hours, days, weeks, etc. Point and figure charts are very different, however, in that any column can represent any amount of time. In fact, time is completely irrelevant! If the price of the security, commodity (or in this case), currency doesn’t change, then no new markings appear on the chart.

Category: Forex

Author: Unknown

tag: Point and Figure

Language: English

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Introduction

Wouldn’t it be great if you there were a charting system that instead of focusing on minutes, half-hours, hours, days, and weeks, actually followed and tracked the money? And wouldn’t it be great if those charts created an accurate way to trade that was actually better than any other system out there—and easier to understand?

Well fortunately, such a charting system does exist, and it’s called Point and Figure Charting. What is a Point & Figure Chart?

“Point & Figure” is a charting method that follows changes in prices rather than time. Most charting systems (including candlesticks, line charts and bar charts) track values based on specific timeframes, so you can look at how values change over the course of minutes, hours, days, weeks, etc. Point and figure charts are very different, however, in that any column can represent any amount of time. In fact, time is completely irrelevant! If the price of the security, commodity (or in this case), currency doesn’t change, then no new markings appear on the chart.

Now I realize that this may sound strange at first, especially if all you’ve ever dealt with are time-based charting methods. But consider this:
If you think about it, isn’t time a somewhat arbitrary way to track movement?
Last I checked, we as traders only make money when PRICES move.
The fact that an hour, day or even week has gone by is irrelevant. The only thing that matters is PRICE MOVEMENT.

Table of Contents- Forex point and figure trading formula

Introduction
What is a Point & Figure Chart?
How Are Point & Figure Charts Constructed?
Tested and Proven Point and Figure Trading Rules
A Brief History of Point and Figure Charting
Point and Figure: Standing the Test of Time
Point & Figure Chart Formations
Long Chart Formations
Short Chart Formations
The Triple Top Pattern
The Triple Bottom Pattern
The Ascending Triple Top Pattern
The Descending Triple Bottom Pattern
The Bullish Resistance Line Pattern
The Bullish Support Line Pattern
The Spread Triple Top Pattern
The Spread Triple Bottom Pattern
The Bearish Resistance Line Pattern
The Bearish Support Line Pattern
The Long Symmetric Triangle Pattern
The Short Symmetric Triangle Pattern
The Bullish Catapult Pattern
The Bearish Catapult Pattern
The Ascending Triangle Pattern
The Descending Triangle Pattern
Final Thoughts

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