Trading with point and figure

[Moneylender]

from David Linton/Updata
5 pips by 3 reversal
1 min close plot
trends and targets shown

Is that a 4% intraday swing?

 

[Dentalfloss]

Is that a 4% intraday swing?

i think its a percentage of how far the count is from the price

 

[Dentalfloss]

hhere is my 5 pip by 3 reversal
it is 5 min close
price action looks the same
BUT..
the Updata chart is too squat..imho
you get a better feel of the trends if chart is higher and not so wide

 

[Dentalfloss]

keep the look back period as short as possible
then you can have smaller box sizes...within reason

important bit.....because of that...you can keep the height larger...which will give you a better feel of the trends

 

[Moneylender]

i think its a percentage of how far the count is from the price

Dont understand what you mean by the count.

The count of what?

 

[Dentalfloss]

Dont understand what you mean by the count.

The count of what?

Updata can give 3 box vertical counts
those are the black lines with numbers
the software takes counts from important columns
both up and down

 

[Moneylender]

Updata can give 3 box vertical counts
those are the black lines with numbers
the software takes counts from important columns
both up and down

Still confused.

Take the last vertical ended at a price of 1.3160, then there is a projection to
1.281, thats some 50 pips away. Is it a target price and how is it calculated.

I am lost here.

 

[Dentalfloss]

Still confused.

Take the last vertical ended at a price of 1.3160, then there is a projection to
1.281, thats some 50 pips away. Is it a target price and how is it calculated.

I am lost here.

3 times the length of the column

 

[Moneylender]

3 times the length of the column

So its a target?

 

[Dentalfloss]

So its a target?

Yes

 

[Moneylender]

Yes

Ok thanks for that.

More to this game than naughts and crosses!:cheesy:

 

[malaguti]

the Updata chart is too squat..imho
you get a better feel of the trends if chart is higher and not so wide

thats only because the price is compressed to include the target, without the targets the two would look identical and would then "scale out"

 

[Dentalfloss]

thats only because the price is compressed to include the target, without the targets the two would look identical and would then "scale out"

ok...gotcha
seems logical
thanks

 

[Dentalfloss]

dax into the open

 

[Dentalfloss]

dow into the open

 

[Dentalfloss]

into NFP
will the rallies get sold ??
or
will the dips get bought ??

 

[swissy]

into NFP
will the rallies get sold ??
or
will the dips get bought ??

Good morning, maybe both!

 

[Moneylender]

Morning all, not around much today but will follow the action on my phone. Good luck all.

 

[Dentalfloss]

oil/wti

could drag down index

 

[Dentalfloss]

42.30 area is a 50% area of down move/latest