Preston,
You are asking about short term lines, some use them...but the purest do not!!!!! We use the long term lines and keep it simple......
I have no problem with folks giving assistance to beginners, in fact, the more p&fers there are the more prospects for my EZ-PnF program.
BUT I do get a little bent when one faction tries to coopt the entire methodology as something that they are the sole source of true knowledge of.
Just who are the purest and We that dispense these pure truths?
Many famous figures played part in the formulation and advancement of the charting technique known as Point and Figure charting. Dow, Cohen, Burke, Aby, Zieg, Devilliers, Maxwell, Tolke, as well as Dorsey, to name only a few, have all have written and refined aspects of the technique.
It should be noted that point and figure charting can be applied to all forms of trading: stocks, indexes, commodities and futures. And the technique that works for one may not apply to another eg the chartcraft scaling and three box reversal won't cut it day trading commodities AND the 2 box, fractional box value of commodities day trading won't work with mutual funds, etc.
So, when someone asks about short term resistance lines, perhaps they should just be referred to Aby's book (or Eric or Bruce) and informed that the Doresy investment/analysis method doesn't use it in their particular version of p&f and why, instead of poo-pooing the question and denigrating those who use the technique.
Well, it's 9:15 and time to switch to decaf for the rest of the day... :-o
Ben A.
ez-pnf.com |
