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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (7672)	9/23/1998 8:19:00 PM
From: wizzards wine	Read Replies (2) \| Respond to of 34811

Hi Challo, QWST is nice...BRL started up at 48 and continued down to 32...then it broke at 33 and formed a BSL from 24 to 27 as of todays close... We look at the upper end and the lower end when drawing these lines.. Hope Jan will post you a DWA example, as I am not allowed...sorry... Later Wizzie

To: Challo Jeregy who wrote (7672)	9/23/1998 8:24:00 PM
From: wizzards wine	Read Replies (1) \| Respond to of 34811

Grub...Jan Please post an example of QWST for Challo in looking at drawing BRL's and BSL's... Wizzie

To: Challo Jeregy who wrote (7672)	9/23/1998 10:30:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Challo, Bearish resistance lines are drawn after the bullish support line has been broken. Once a bearish resistance line has been broken you can begin drawing a new bullish support line. With the sector reversing into Bull Alert at 18% and the RS just reversing back to X's, you can buy partial positions here and more on any weaknesses. If (for example) the sector were at 70% I would suggest waiting for a pullback only to purchase. See the difference? 49 48 * You start drawing the bearish 47 X * resistance line from the highest 46 X O * point. In this case 47. 45 -------------------------X O --* --------------------------------- 44 X O X * 43 X O X O * 42 X O X O X * 41 X X O O X O * 40 -------------X O ----5 --X ----O X O X --* ----------------------- 39 X O X X O X O X 8 X O X * X 38 X 3 O X O X O X O O X O X O * X 37 2 X O X 4 X O X O X O X O X O * X 36 X X O X O X O O O 7 O X O * O * X 35 -X O X O X O ----------O X --------O --* --O ------* --------X --- 34 X O X O X * Once QWST broke the brl here ---> X X 33 X O O * you could then start * X O X 32 X * a new bullish support X O X O X 31 X * line. O O X X O 30 -------------* --------O X --* ----------------O X --X O X ------- 29 * O X * O X O X O X 28 * O * O X O X O X 27 * * O X O X O X * 26 * O X O O X * 25 ---* ------------------------------------------O X ----O * New 24 * O X * bullish 23 O X support line. 22 9