Welcome to EV's point and figures. This blog is dedicated to the use of point and figure charts in technical analysis.
Although P&F first appeared in charts in the 1930's, it is an often overlooked techique for analysing stocks and charts. A poor relation compared to line and bar charts and their range of momentum indicators. Yet few charts provide a clearer picture of the daily battle between bulls and bears for market control.
Like most methods, it should not be used in isolation. It should form part of an analysts 'tool box' and be used with other techniques to help form an overall view.
The charts that appear on this blog and any accompanying comments are purely for information purposes only - my own personal take on where the prices may be heading. They do not constitute investment advice.
Tuesday, July 31, 2012
Friday, July 20, 2012
Thursday, July 12, 2012
IF the FTSE has started its wave 3 down, a plausible target is 4,762, which is 1.618x wave 1 down from the top. I say IF because this wave 2 up could yet extend slightly further, up to the 78% retrace level. A decisive move below the 200 day moving average would help the bearish case (but at this moment it cannot be called as the 4 hour chart is hovering around its support line at c5,600 - a sharp move below that would also help the bear's case ).