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Strategies & Market Trends : Point & Figure - Beginners (Real Green)
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To: dave b who wrote (251)3/9/1999 9:02:00 AM
From: wizzards wine  Read Replies (1) of 322
 
Morning Dave, I'll do it via the little
chart below as it easier to see than
to explain...

21 < Note #3
20 x x x x < Note #2
19 x o x o x o x o x < Note #1
18 x o x o x o x o x
17 x o x o x o x o x
16 x o x o x o x o
15 x o x o x o x
14 x o x o x o x
13 x o x o x o

Note #1 - rising bottoms and in a col
umn of X's

Note #2 - Note the Wall of X's at 20
that have not been broken out of to
the high side.

Note #3 - 21 breaks the wall and gives
a very powerful move up most of the time.

This pattern is currently a Quad top, the
next X at 20 makes it a 5 top and the 21
is a 5 top break.

21
20 x
19 x
18 x
17 x
16 x
15 x o x
14 x x o x
13 x o x o x
12 x o x o x

Each of the above vertical columns
are refered to as a column of x's
or o's...

As you now see, a wall of x's would be
seen normally as upward resistance and
conversely a wall of o's would be a
resistance to the down side.

Hope that helped.

Later

Preston
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