Trading with point and figure

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OIL

 

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SPX lined up

 

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be ready at both ends

 

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Cable

 

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oil....could pull ftse higher

 

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in supp....will it hold,..??

 

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UJ

 

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Naz 100

 

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whack

 

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Dax

 

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trendlines on bar charts....some secrets into determining price action

 

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in determining price action...its mainly to see who has control
bulls or bears
there is nothing else that can be deduced

 

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bearing that in mind.we can only use trendlines and pivots

 

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hence .we are not bothered if bar is red or green

 

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the trendlines are subjective and need 2 point contact/minimum
Keep the trendline as near as possible to the price

 

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you can use 45 deg from a top or a pullback

 

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the whole idea is to give you a feel of the trend and who has control
they do not have to be that accurate
but you need a little practice

 

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then ..if you want to look at levels...fibs etc etc
then do so
levels are only a guide