V.7:7 (201-202): Price projections on point and figure charts by Luis Ballesca Loyo
Product Description
Price projections on point and figure charts
by Luis Ballesca Loyo
One of the great advantages of point and figure (P&F) charting is its well-defined features: price formations, buy and sell signals, trendlines and price projections.
The P&F method establishes a price objective that a security could reach when its price breaks (or penetrates) a formation. Two types of projections are possible: horizontal and vertical counting. These techniques calculate a proxy for the price objective by applying the formulas in Figure 1.
Figure 2 shows a breakout to the upside of a bullish symmetrical triangle on an arithmetically scaled chart. From this, we can make the next price projection:
...
One of the great advantages of point and figure (P&F) charting is its well-defined features: price formations, buy and sell signals, trendlines and price projections.
The P&F method establishes a price objective that a security could reach when its price breaks (or penetrates) a formation. Two types of projections are possible: horizontal and vertical counting. These techniques calculate a proxy for the price objective by applying the formulas in Figure 1.
Figure 2 shows a breakout to the upside of a bullish symmetrical triangle on an arithmetically scaled chart. From this, we can make the next price projection:
...
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