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Strategies & Market Trends : Point and Figure Charting

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To: quote 007 who wrote (23570)	9/8/1999 8:32:00 AM
From: Ben Antanaitis	Read Replies (1) of 34809

Stuart, You are getting into an area of 'how do you do it?' ie how does DWA draw/interpret their charts vs can it be done other ways? Yes, it is possible to draw BuLlish Support Lines (BLSL) while under an overall Bearish trend and below the BeaRish Resistance Line (BRRL). Many times these are 'interim' BLSLs that only hold until the price starts getting close to the controlling main BRRL where they get reversed. But sooner or later there may be one that becomes a true main BLSL when the overall trend reverses from bearish to bullish. And, of course the symmetrical case holds, ie you can draw interim BRRLs while trading in an overall Bullish trend above the BLSL. Dr. Carroll Aby has done lots of work on use of interim support/resistance lines and his thoughts appear in his book "Point and Figure Charting" (see link in the bookstore section on my web site for more info on his book). Hope this helps. Ben A. ez-pnf.com

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