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Sonny,
I do use point and figure charting for calculating
market/sector/industry bullish percentage. I also look
at P&F charts for determining the support and resistance
levels, both short and long term as they are more clearer
in P&F charts when I'm looking at a particular stock.
I did use P&F charts for day trading sp00z and naz when
I was day trading them. I was really amazed when the
sp00z or naz will make a triple bottom and break on downside
or when it'll make 3-top and run on upside. Both will be
characterized by either a lower lows (for 3-bottom) or
higher highs (for 3 -top). The visualiztion of breakouts
is much clearer on P&F chart vs bar charts. But then again, its
a lot subjective to the box size you use. One's 3-top may be another
guys 3-bottom :-)
Thanks
Mudit
--- In realtraders@xxxxxxxxxxx, Sonnysark@xxxx wrote:
> Does anyone use point and figure charting for day trading? If not
for day
> trading, does anyone use P&F for trading at all? If so, any
comments pro or
> con would be appreciated. If you don't use P&F but are familiar
with its
> pros and cons, please also feel free to comment. Thanks, -Sonny-
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