I 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...
P&F Chart ATR 14 - 2 Year Bear Period of Accumulation. - We have broken the trend with a double top breakout. The chart is ATR. Regardless of scale (Traditional, 2 box or 3 box reversal, H/L or CL), they all show consistent upside.
Netflix hit an all-time high, then corrected. It crept below the uptrend line but didn't generate a sell-signal below it. It passed back above the uptrend line but hit the resistance roof. Again, it just crept below the uptrend line but without a sell-signal, suggesting that the trendline is acting as support, albeit loose support. The price climbed above again...
This is a daily point&figure chart rounded to a 100 tick movement. Looks like oil wants to test the previous highs and possibly higher into low $80s.
Looking at the P&F Count. We smashed objective 1 & 2. Looking for the final objective 3. Time will tell, or in the case of P&F Not :-)