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Strategies & Market Trends : Point and Figure Charting
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To: Ms. X who wrote (3120)5/22/1998 10:58:00 AM
From: Ms. X   of 34816
 
Here we go again:

My Mac flipped out and I had to quit. At least I got some of the message out.

Last example
Pulling back to support

X
X X O
X O X O
X O X O
X O X O
X O X O
X X X O X O <--Last area of resistance
X X O X O X O X ? good pullback area.
X X O X O X O X ?
X O X O X O O ?<--Possible triple bottom and support level
X O X O X ?<--Stop loss (triple bottom break)

This illustrates how a previous area of resistance can be used
for a support level. The next (and better) area of support would be
where the triple bottom is formed. This gives you a risk of 1 since
your stop would be one box lower.

Hope this helps you.

Jan
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