Someone, somewhere must've heard me complaining about the Point and Figure charting! Yesterday I found Multicharts Discretionary Trader which offers PnF and a whole host of other charting like renko and kagi. It also accepts a data feed like eSignal so I can also get very good volume through the charts. I might even make the switch from TradeGuider.
Took one trade yesterday based on a Point and Figure set up. It was only small risk to test the set up.
Trade 65 - EUR/USD - Buy @ 1.4425 Closed @ 1.44729 =+47.9
It's a shame i didn't risk my usual 3%, but nonetheless i'm happy with how the trade panned out. At best it was up about 75 pips before I closed, then it rallied and had another attempt at 1.45 where it failed again.
VSA pointed to clear strength in the background so the PnF worked as a further confirmation for my VSA thoughts.
Cheers,
Liam
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