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Strategies & Market Trends : Point and Figure Charting

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To: wiley murray who wrote (2148)	4/1/1998 7:12:00 PM
From: Mr. BSL	Read Replies (1) of 34811

Wiley, PNF is a good stand alone indicator. Once in a while I will use 15 minute candlesticks when buying a stock on a pullback. For example, if you wanted to buy Merck on a pullback today, your PNF entry point would be 126, which is known as a 3 box reversal. Merck pulled back to about 126 3/4 this morning and then turned up. The reversal gave a candlestick buy signal at 127 1/2 at about 10:30. As you can see from the chart, these candlestick buy signals are very reliable. iqc.com 99% of the time I use PNF only for TA. Duke

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