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Strategies & Market Trends : Point and Figure Charting

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To: Gottfried who wrote (8955)	10/24/1998 9:33:00 AM
From: Iceberg	Read Replies (2) of 34809

>Jan, AMAT is on a buy signal and needs one more X to break through the bearish resistance line. Jan and Gottfried, AMAT on a buy signal? My chart shows it on a sell signal. In trying to figure out why, it seems that if a traditional 3-box reversal is used with HI-LO data then AMAT is on a BUY signal. However, if a traditional 3-box reversal is used with CLOSING data [as was the case with my chart], then AMAT is on a SELL signal. There's obviously a difference in a buy signal and a sell signal. Apparently you all were looking at a PnF chart based upon HI-LO data. My question is this...how would your projections or strategy differ upon approaching the BRL if CLOSING price data had been used instead of HI-LO price data, and which type of data do you consider best to use for general-purpose PnF charting? Or does it depend upon what you want the chart to show - a buy or a sell signal? <g> Ice

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