V.4:7 (279-281): Wyckoff method of trading stocks part 6 Figure charts by Jack K Hutson
Product Description
Wyckoff method of trading stocks part 6 Figure charts by Jack K Hutson
Thus far in this series we've concentrated on the price volume information supplied by vertical charts, which are the mainstay of Richard D. Wyckoff's technical analysis. But as an adjunct to vertical charts, most Wyckoff analysts also employ figure charts, which record only price movement.
Figure charting allows the analyst to quickly see where and how strongly supply or support is building and to actually calculate the distance a price should rise or fall. Therefore with a vertical chart pointing out direction, the figure chart shows just how far that direction should travel.
Thus far in this series we've concentrated on the price volume information supplied by vertical charts, which are the mainstay of Richard D. Wyckoff's technical analysis. But as an adjunct to vertical charts, most Wyckoff analysts also employ figure charts, which record only price movement.
Figure charting allows the analyst to quickly see where and how strongly supply or support is building and to actually calculate the distance a price should rise or fall. Therefore with a vertical chart pointing out direction, the figure chart shows just how far that direction should travel.
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