More Point and Figure

by 11:22 0 comments
Haven't posted for a couple of days now so I thought i'd come on and enlighten you all!

As you can probably tell from my last few posts, i've largely been concentrating on point on figure as of late. It's always something that has been in the background so i'm making a concerted effort at long last to get to grips with it.

With that in mind, I've taken a further two PnF trades since Monday.


I entered long late on Monday night, I felt it may be a continuation of the move through last week. I should probably have been a little wiser to two things. The resistance at the high to the left at 1.3020 (which we didn't reach) and the fact that I was going long just below a big psych number.

Anyway, that got stopped on Tuesday morning around half nine or so, just below the three box reversal at around 1.2960. I had moved my stop up from the original place at 1.2940.

The sell set up at 1.2940 was a new set up for me and something I picked up from reading the PnF book over the weekend. It's essentially a break through support that had developed along 1.2950 (the two Os in the green target box.

It has taken a while to play out but whilst writing we've pushed down and filled the 1.2900 box. I'm sure there will be some sort of reaction to this round number.

So what about VSA you say? Well, to be honest, i've largely been looking at the point and figure charts. From what I can see on the bar/volume charts it's quite a hard read for me. So i'm going to have to sit down and study that. I'll probably talk about that in my next post. Maybe later today.





28. Forex. Trading. Music. Beer. Food. Travel.


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