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Strategies & Market Trends : Point and Figure Charting

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To: Fintas who wrote (28278)	2/25/2017 9:54:17 AM
From: Underexposed	Read Replies (1) of 34808

now that I understand that you use RSI charts... I don't see anything in them. As you can see from my posts I use Stockcharts.com for my P&F postings of charts. They have the best P&F charts on the 'net IMHO but they do not do RSI charts automatically and I don't have time to labour over creating P&F charts. I use 4 charts routinely in evaluating a security. I can easily determine and time movements of a security. For me a P&F chart is used to establish Support and Resistance levels .... stumbling blocks to a rising security or potential supports if it is falling and sometimes to estimate targets long term. Other charts give me clues as to breakout timing and whether or not a stock still has legs. I have read Dorsey's early book but only took the parts that made sense to me. Same thing when I was studying Bollinger Bands... I read a John Bollinger's book... and others such as Wilder What I found is that these guys had great ideas but ended up trying to make those ideas as a panacea for everything about trading... that is where the wheels fell off for me. I took the parts I liked, discarded the rest and in the case of Bollinger bands found other uses for this most useful overlay that are not discussed in his book. Most TA books offer little more than a page, if that on Bollies.... I could write a 5-10 pages chapter on what I have discovered. I will look at Relative Strength charts but frankly at this point I don't think I can see much more than I already see with what I currently do with my other tools. YOU will note that when you challenged me on Crude oil... I not only gave you 2 charts (one albeit incomplete) AND I suggested a time frame for a breakout. A very specific time frame. I doubt you could be so definitive or at least you have not given one to date. Am I right?... we shall see over the next 2 weeks... but I will say my batting average is pretty good.

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