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Strategies & Market Trends : Point & Figure - Beginners (Real Green) -- Ignore unavailable to you. Want to Upgrade?

To: dave b who wrote (251)	3/9/1999 8:18:00 AM
From: Ben Antanaitis	Respond to of 322

dave b, Columns are the individual vertical lines of X's and O's that we plot/read on any p&f chart. The only way patterns develop is to continue going up or down an existing 'column' or by starting a new 'column' with the opposite symbol. A 'wall' occurs when adjacent columns have significantly different numbers of 'members' (X's or O's) and there is a section that does not have a 'next-door-neighbor'. The most consistent definition is two or more boxes. ex: O O O O <- OF WALL OF O'S; A PLACE WHERE A BEARISH RESISTANCE LINE OX COULD BE PLACED, BASED ON THE REST OF THE OXOX CHART. OXOXO O OXO O O 0 X X X XOX XOX XO X <WALL OF X'S; perhaps a place to start a Bullish support line X X OX OX OX O X X O X OX X OXO X <- ANOTHER WALL OF X'S; perhaps this breaks through a bearish OXOX X resistance line. O OXOX OXOX O OX OX O ETC. That help? Ben A. ez-pnf.com

To: dave b who wrote (251)	3/9/1999 9:02:00 AM
From: wizzards wine	Read Replies (1) \| Respond to 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