Get started

Pointandfigure

Bitcoin LTF Signals Wyckoff Phase D Potential Near Term WeaknessSeems volatility is the name of the game as power changes hands in Washington, D.C., and Memecoins are set to swallow up market liquidity (for better or worse). Personally, I’ve never really cared for Memecoins, and tend to focus on POW governance tokens for long term value. Seems the “interesting times” of that Chinese Proverb are upon us. On the LTF (1D) Point and Figure, the formation is currently printing a distribution pattern, completing Phase C of a Wyckoff Distribution pattern. Phase C in a distributive phase generally reveals itself through a (or some) strong Upward Thrust (UT) and/or a (or some) Upward Thrust After Distribution (UTAD). The formation has already printed a Shakeout Distribution Spring to the $89,200 handle in Phase B, and subsequently printed the first Upward Thrust After Distribution (UTAD) to the $105,800 handle signaling the beginning of Phase C distribution had started. The formation printed a subsequent UTAD to the $109,200 handle - all typical activity we would expect to see in Phase C of a distribution cycle. The following Test of that UTAD at the $106,400 handle, printed a lower high and signaled both (i) the Last Point of Supply (LPSY) for Phase C of this distribution cycle, and (ii) the end of Phase C of this distribution cycle. Phase D Wyckoff Distribution is generally signaled when the formation prints a Major Sign Of Weakness (MSOW) which “Breaks the Ice” of the lower level of support within the Trade Range. This sets up an excellent Risk/Reward opportunity for a potential short swing trade position. The current formation suggests that a move to the $90,600 handle is in play in the near term as Phase C of this distribution cycle completes and moves into Phase D. There is a potential longer near-term play for $85,600 as the formation moves into the final phase (Phase E) of this distribution cycle. Provided the LPSY formed on the Return to Ice move tops out at the $92,800 handle the Horizontal Price Count should be accurate. Always remember this is not trading advice. Outside of that, Happy Trading.
COINBASE:BTCUSDShort
by FOFAgent1
Edwars lifesciences: ready for a bull runAfter a sharpe decline the NYSE:EW stock rebounded and now it seems to be ready for a new bull run. Actually the P&F chart reversed bullish in august, and after one month of trading range it gave another strong buy signal in october, with the quadruple-top at 73. At the current price of 74 the stock is retracing from the near term high at 76 and given the price target at 92 and the stop loss at 64 it is still possible to entry long for a nice risk/reward trade. Looking at the fundamentals , EW achieved fantastic operating results in the last years and is a leader in his sector. With adjusted EPS at $2,45 the stock is roughly trading at a P/E of 30, which is high but in line with the high valuation given historically by the market.
NYSE:EWLong
by LogikaResearch
Gold: trend analysis and price targetsCOMEX:GC1! has been very bullish in the last year, up to the record high at 2.800. Currently the bullish trend seems to have stopped, as demonstrated by the symmetrical triangle configuration that developed starting from october 2024 and still on formation. Inside this consolidation phase , the point and figure analysis shows a double bottom sell signal (2.620 break). This signal is actually a weak one and its main indication is to underweight for those currently long and want to protect themselves from a possible bear market. The new buy-entry level is set at 2.760 . For those who want to follow this weak sell signal nonetheless, maybe looking for an aggressive counter-trend trade in anticipation of a bear market, it is possible to go short with target price set at 2.460 and stop loss at 2.760. A more ambitious target can be set at 2.360.
COMEX:GC1!
by LogikaResearch
Near Term Bitcoin LTF Weakness to Establish HTF TR BottomThe New Year is looking bright for Bitcoin with the most recent report from Franklin Templeton predicting “nations to adopt strategic Bitcoin reserves in 2025.” It should be interesting to see how sustainable it will be for Bitcoin to be a practical method to both store and transfer value, given its TPS limitation as more Nations and Institutions become larger players on the chain. I believe this presents an incredible opportunity for quality POW governance tokens to shine and become a very real complementary alternative. But I digress – what’s up with Big Daddy Bitcoin and the No Santa Rally? On the LTF (1D) Point and Figure, the formation is currently printing a distribution pattern, forming a Last Point of Supply (LPSY) at a local high of $96,000 to retest the prior local high at $95,400 Bitcoin established after moving into Phase D Distribution of the distribution cycle. True to form in Phase D of a Distribution Cycle, the formation printed the preliminary sign of weakness, dropping to the $91,400 handle before the retest. The characteristic of Phase D Distribution is a Major Sign of Weakness occurs at the end of Phase D which “Breaks the Ice” of the lower level of support (in this case $90,800). The horizontal price count suggests a potential near-term fall from the current level to the $$86,600 region from a Major Sign of Weakness (MSOW), before a relief rally to “Return to Ice” and subsequent Preliminary Support (PS) and Selling Climax (SC) are established. The positive take should be on the Higher Time Frame (HTF), this PA is all about establishing the bottom of the new Trade Range, which has recently established the $108,300 handle at the upper limit of this Trade Range. Consolidation within this range should happen for a bit to establish both future direction and build cause within the formation to build potential (much like coiling a spring) for the next move. Always remember this is not trading advice. Outside of that, Happy Trading.
COINBASE:BTCUSD
by FOFAgent1
Litecoin the Rumpelstiltskin of Crypto Ready to Wake UpI hope Santa treated everyone well for the holidays. It’s been a while since I’ve shared some TA, I thought it might be good to check out a dark horse which has been showing some signs of life and a bit of buzz lately. Dino-Coin everyone loves to hate – Litecoin. On the LTF (1D) Point and Figure, the formation is currently printing a reaccumulation pattern, with strong support consolidating around the $97 handle after printing a Shakeout Spring pattern to the $87 handle in Phase B, a subsequent test of that support at the $97 handle, and a Jump Across the Creek (JAC) in Phase C. The horizontal price count suggests a potential near-term move to the $140 from a Sign of Strength (SOS), with the potential to cap out the Buying Climax (BC) at the $170 handle. Given Bitcoin PA appears to be in Phase E of a distribution pattern targeting the $87,000 handle, it’s possible the $87 handle would be tested during this Bitcoin distribution cycle. Should Litecoin break support at the $97 handle and successfully retest support at the $87 handle, the horizontal price count in this scenario suggests a potential near-term move to the $129 from a Sign of Strength (SOS), with the potential to cap out the Buying Climax (BC) at the $170 handle. A break below $86 would show a Change of Character from accumulation to distribution, which would invalidate the formation. Always remember this is not trading advice. Outside of that, Happy Trading.
KRAKEN:LTCUSDLong
by FOFAgent1
Point and Figure Trend Line Indicator with AlertsMy Pine Script indicator, "PnF Bullish and Bearish Trend Backgrounds," visualizes bullish and bearish trends using Point and Figure (PnF) methodology. Summary: Input Parameters: Box Size: Determines the price movement sensitivity. Bullish/Bearish Angles: Set angles for defining trend slopes. Trend Calculation: The script calculates slopes based on input angles and updates trendlines based on price actions. Alerts: It generates alerts when price breaks bullish or bearish trendlines, signaling potential buy/sell opportunities. Visualization: Trendlines are plotted in green (bullish) and red (bearish), with background colors highlighting trendline breaks. Background: Green (uptrend) Red (Downtrend) Overlap or Black (Neutral) Usage: Add to Chart: Load the script on TradingView. Monitor Alerts: Keep an eye on alerts for trendline breaks. Analyze Trends: Use the visual cues to identify potential market movements. I'll release a video explanation of this indictor soon.
by ScotchNoCoke
Point & Figure Charts DO WORK on TradingviewI have been studying Point and Figure (PnF) for some time now and was uninspired by the basic charts that were available. I noticed Tradingview did offer a Point and Figure chart but found it difficult to correctly configure the scales and relative 45 degrees angles as per the fundamentals. After some tedious work I have produced an indicator that produces the correct scaled PnF angles as per the fundamentals and have found PnF a very successful way to trade. PnF does work on Tradingview. If you are a fan of Price Action (because there is no time involved) this may be for you. I'll make my indicators public shortly. If you would like to discuss PnF or need help setting up the scales, please msg me. Enjoy.
COINBASE:BTCUSD
by ScotchNoCoke
5
Short views on goldThe left-hand chart suggests that, having failed to establish support at its previous low of 2022, the near-month gold futures contract has further to decline. On this basis we would be more ready to add to an existing short position than to start a new one. The right-hand chart highlights the recent moving-average crossover as a sell signal. We might hold out for a better sell point. Confirmation can be found in the neckline of the slanted head-and-shoulders pattern having been broken. The slant's upward tilt does not suggest as large a decline as if it were level or tilting downward.
COMEX_MINI:MGC1!Short
by SwingWaiter
How to work out additional levels when breaking to new highsThis is a bit trickier and there are certain techniques that you can use. I personally use Fibonacci extensions, point and figure and any potential patterns to offer potential upside targets. I realise I have been a bit cavalier with my point and figure upside target, as you can work this out exactly, but wanted to show the techniques I use rather than concentrate on the actual count itself. I took a look at the Apple price to give potential upside targets. The potential new targets are contingent on the old high around 183 breaking. Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
NASDAQ:AAPL
by The_STA
3
Learn point and figure chartPoint and figure charting is a type of technical analysis that is used to identify trends and potential buying or selling opportunities in a security's price. Unlike traditional bar charts, which display a security's price and volume over a while, point and figure charts only show price movements, disregarding the passage of time. The chart is constructed using a grid, with X's and O's plotted on it. An X is plotted when the security's price increases above a certain level, known as the box size. Conversely, an O is plotted when the price falls below that level. The box size is the minimum price movement required for a new column to be added to the chart. The point and figure chart are read by looking for patterns of X's and O's. A series of consecutive X's indicates an uptrend, while a series of consecutive Os indicates a downtrend. The number of Xs or O's in a column before a new column is added is known as the reversal amount. Support and resistance levels can also be identified by analyzing the chart. Support levels are identified as areas where the price has difficulty falling below, while resistance levels are identified as areas where the price has difficulty rising above. Traders can also use point and figure charts to set price targets and stop-loss levels. The price target is the level at which a trader expects the price to reach and the stop-loss is the level at which a trader exits a trade to limit their losses. In point and figure charting, a double top or double bottom is a chart pattern that is formed when a security's price reaches a high or low level twice and then falls back. This can be a sign of a trend reversal and could indicate a buying or selling opportunity. Another pattern is the triple top and triple bottom, which is similar to the double top and bottom but the security's price reaches the high or low level three times before reversing. It's worth noting that point and figure charting is a discretionary method of technical analysis, and it requires a certain level of experience and knowledge to correctly interpret the chart. It's more commonly used in stock trading, but it can also be applied to other securities such as futures and commodities.
NSE:NIFTYEducation
by pratik2358
Bitcoin Bearish Structure Intact Breakdown to $14,600 LikelySometimes it seems one week in the world of crypto moves at the speed of three months in the traditional markets. If you recall, last week Cameron Winkelvoss called out Barry Silbert of Digital Currency Group (DCG) for potential solvency issues and potential co-mingling of assets between Digital Currency Group (DCG) and Grayscale Bitcoin Trust (GBTC). It would appear things are escalating quite rapidly on that front. It would appear Digital currency Group is currently being investigated by the US SEC and the US DOJ over suspicious funds transfers according to Yahoo Finance Digital Currency Group in Spotlight Over Suspicious Fund Transfers “Crypto-focused conglomerate Digital Currency Group (DCG) is under investigation by the U.S. Department of Justice as well as the Securities and Exchange Commission (SEC) over questionable transfers between DCG and a subsidiary, according to a Bloomberg report that cited unnamed sources.” Additionally, Bloomberg is reporting Dutch Crypto Exchange Bitvato rejected an offer by Digital Currency Group (DCG) to pay 70 percent of its outstanding debt to Bitvato. Dutch Crypto Exchange Says Digital Currency Group in Talks With Creditors …and of course this led to a call for removal of Barry Silbert from Digital Currency Group (DCG) by Cameron Winkelvoss (Yahoo Finance analysis link below). DCG, Gemini Tensions Escalate as Winklevoss Calls for Removal of Barry Silbert The ramifications of a potential Digital Currency Group insolvency – and by extension a potential insolvency of Greyscale Bitcoin Trust – would have a material impact on the entire crypto ecosystem. It would appear that the Cryptocurrency Ecosystem may need to brace for a hard landing. With that, Let’s get to the TA. (My methodology is Point & Figure/Wyckoff.) Looking at the 1D chart ($200 USD box size with a 3-box reversal), the bearish structure of the formation has remained intact, with a series of Upward Thrust (UT) shakeouts honoring the broken trendline of support throughout Phase C of this Wyckoff Redistribution. Upward Thrusts (UT) and Upward Thrusts After Distribution (UTAD) are quite common in Phase C of Wyckoff Redistributions to trap, shakeout, and chop up traders. “A UT or UTAD allows large interests to mislead the public about the future trend direction and, subsequently, sell additional shares at elevated prices to such break-out traders and investors before the markdown begins. In addition, a UTAD may induce smaller traders in short positions to cover and surrender their shares to the larger interests who have engineered this move. Aggressive traders may wish to initiate short positions after a UT or UTAD. The risk/reward ratio is often quite favorable. However, the “smart money” repeatedly stops out traders who initiate such short positions with one UT after another, so it is often safer to wait until Phase D and an LPSY.” - The Wyckoff Method: A Tutorial The recent PA move took Bitcoin to a confluence of resistance at $17,400 USD where the broken support trendline (started from the Secondary Test at $15,600 USD) and the resistance trendline (started from the UTAD local top at $18,200) meet. The PA should experience rejection here, with price falling into the $15,800 USD region on a Sign of Weakness (SOW) as the formation moves into Phase D of the Redistribution. The projected price for this Wyckoff Redistribution phase would be ((9 columns x 200 box size x 3 box reversal) * 2/3) - $18,200 = $14,600 region based upon the existing cause in the formation. A breakout above $17,800.00 would invalidate this bearish scenario. Something worth reminding about: One thing to be acutely aware of in a Wyckoff Redistribution cycle is these cycles generally have three waves – each with diminished intensity as a rule of thumb. It is entirely possible after BTC settles into a new Trade Range in the $14,600 region, the formation will move through a normal Phase A Wyckoff Accumulation right before experiencing a Change of Character and transforming into a third Wyckoff Redistribution only to take the PA to a lower Trade Range. Always remember this is not trading advice. Outside of that, Happy Trading.
COINBASE:BTCUSDShort
by FOFAgent1
3
Bitcoin Eyes Potential Breakdown to $14,600 on a Wyckoff RedistI have always marveled about how projected price movements from TA oftentimes capture some unspoken truth not widely shared in the market – both good and bad news. In that vein, if you have not had a chance to read about everything happening between Tyler & Cameron Winklevoss the Gemini cofounders and Barry Silbert the CEO of the Digital Currency Group (and by extension Greyscale Bitcoin Trust), you really need to take the time to read through this and understand the ramifications of a potential Digital Currency Group insolvency – and by extension a potential insolvency of Greyscale Bitcoin Trust – would have on the entire crypto ecosystem en.cryptonomist.ch With that, Let’s get to the TA. (My methodology is Point & Figure/Wyckoff). Looking at the 1D chart ($200 box size with a 3-box reversal), the formation moved into a normal Phase A Wyckoff Accumulation pattern after breaking a major line of support at the $17,600 price point. As the formation moved from Phase A into Phase B, the PA of the formation experienced a Change of Character (transforming midway in Phase B from a typical Wyckoff Accumulation pattern into a Wyckoff Distribution pattern). It formed a Last Point of Supply (an exit rally) which took the PA to the $18,200 region and subsequently printed a Sign of Weakness as the PA moved into a Wyckoff Redistribution pattern. If we look at the projected target price of this Wyckoff Redistribution using the horizontal method, the projected price for this Wyckoff Redistribution phase would be ((9 columns x 200 box size x 3 box reversal) * 2/3) - $17,000 = $14,600 region based upon the existing cause in the formation. One thing to be acutely aware of in a Wyckoff Redistribution cycle is these cycles generally have three waves – each with diminished intensity as a rule of thumb. It is entirely possible after BTC settles into a new Trade Range in the $14,600 region, the formation will move through a normal Phase A Wyckoff Accumulation right before experiencing a Change of Character and transforming into a third Wyckoff Redistribution only to take the PA to a lower Trade Range. Always remember this is not trading advice. Outside of that, Happy Trading.
COINBASE:BTCUSDShort
by FOFAgent1
Litecoin Completes Wyckoff Phase E ReaccumulationHappy hump day in the first week of this new year. It’s been a minute since I’ve last posted some TA, and it seems the itch has returned after putting trading aside for a bit to focus on other pieces and parts of life. I’m sure The Byrds touched on crypto degen season in their hit Turn! Turn! Turn! somewhere. With the Litecoin halving expected sometime in Q3 or Q4 of 2023, backing up the Brinks truck and filling up the bags with Litecoin has become the recent mantra and memecoin. What better way to get back on the horse again? With that, Let’s get to the TA. (My methodology is Point & Figure/Wyckoff.) Looking at the 1D chart (0.20 box size with a 3 box reversal), the formation appears to have completed a Phase E Wyckoff Reaccumulation. If we look at the projected target price using the horizontal method, the projected price for the completion of Phase E would be (23 columns x 0.20 box size x 3 box reversal) + $65.20 = $79.00. The formation’s Buying Climax topped out at $77.80 at the time this article was published, so it appears all the cause built up to mark the price up has been used, and Litecoin should establish a new trade range and direction at this stage. The larger question is which direction is Litecoin likely to break? The weekly chart might help provide some insight. Looking at the 1W chart (0.20 box size with a 5 box reversal), the formation appears to be at the tail end of a Phase B Wyckoff Accumulation. Typically, at the tail end of this stage, the formation tends to retest support (in this case the $46.40 price at the top of support) followed by a test of resistance (in this case the $60.40 price at the bottom of resistance) before entering into Phase C with the shakeout (forming the creek and spring) prior to markup. As this chart is a higher timeframe, consider this may take some time for the full breakdown to complete before the subsequent retest of resistance. Always remember this is not trading advice. Outside of that, Happy Trading.
COINBASE:LTCUSD
by FOFAgent1
What are Point and Figure charts? And why are they good for me?The Point and Figure chart (an example for West Texas Intermediate crude oil futures, traded on NYMEX, is shown here) is used to identify price breakouts. These breakouts can be to the upside or to the downside—in either case potentially producing large profit opportunities. Mechanical rules free the trader from worry about when to act. (How to act is another matter, which is why point-and-figure charting should not be treated as just a gimmick.) The arrows show when a trader might have purchased a 100-barrel WTI contract at $72 per barrel during the last week of December 2021, and closed the position at $100/barrel during the first week of April 2022. This would have produced a profit of $2,800 on a margin of $1,670, which is the kind of opportunity that makes trading oil (and other commodities) a very lucrative proposition. If you like trading breakouts, it will be worth your while to learn more about Point and Figure charting. You can start with Thomas Dorsey's Point and Figure Charting book as well as with articles on the Investopedia and Stockcharts websites. In future articles here I'll talk about how I use the charts to optimize profits and limit drawdowns.
NYMEX:CL1!
by SwingWaiter