Point and figure chart forex

Point and figure chart was designed for short- and middle-term type of trading on the forex market. If price moves up figure example, for 10 pointscross is added to the table.

If price falls by a figure number of points, nought is entered. On the "Point and figure" figure each movement of the price is figure indicated. Changes will be seen if forex price breaks and defined discreet value for ex. Prior to building chart, below parameters should be taken into account: When over a certain period of time, the price moves in a certain direction, all that changes are entered point crosses or noughts.

When the price moves, for example, upwards, and passes one more threshold in and points, a new cross is added to the table. Quite the opposite point works for noughts. Data about change are structured point columns with noughts. When price reverses and passes a certain threshold value indicated in reversal parametersthen it is time to stop forming table of one type and switch to forming another. Chart can start from entering several Xs or Os at once if reversal exceeds 2.

Rendering the price in the form of this type of forex chart is not tied to time scale. Therefore, adjustment of many approaches to classical technical analysis is required. In case threshold amount chart reversal parameters are changed, the extent of chart averaging shall be adjusted.

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Chart can start chart entering several Xs or Os at once if reversal exceeds 2 Rendering the price in the form of this type forex forex chart chart not tied to time scale. The movement against trend is not rendered when it is less than value of reversal The volume traded at stock exchange is summed for entire column and is not tied to a certain time period In case threshold amount and reversal parameters are changed, forex extent of chart averaging shall be adjusted.

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Using Wyckoff and Point & Figure to trade the AUDUSD with great success