Bibliography
by PRASHANT SHAH -
(In alphabetical order) Aby, Carroll D. J. Point & Figure Charting: The Complete Guide. Grinville, SC: Traders Press Inc., 1996. Bollinger, John. Bollinger on Bollinger Bands. New York, NY: McGraw-Hill, 2002. Bulkowski, Thomas N. Encyclopedia of Chart Patterns. New York, NY: John Wiley & Sons, Inc., 2000. Carney, Scott M. Harmonic Trading, Volume One: Profiting ... Read more
OBV P&F
by PRASHANT SHAH -
Volume Indicator P&F Charts On Balance Volume, invented by Joseph Granville, is a most basic volume indicator. It adds the volume to the previous total when price rises, else it is deducted. OBV indicator calculated on usual charts when plotted using Point & Figure method becomes very simple to read due to the clear and ... Read more
P&F of Indicators
by PRASHANT SHAH -
Indicator as Point & Figure A 14-day RSI is a popular indicator on bar and candlestick charts. Same indicator plotted in P&F charts is featured below. Figure 11.3.1: Nifty 14 day RSI line chart and 2% x 3 Point & Figure chart This way, noise of RSI indicator can be removed and plotted for reading ... Read more
Ziddi Bulls and Ziddi Bears
by PRASHANT SHAH -
Ziddi in Hindi means stubborn. Below Image explains why this formation is given this name. Consecutive weak breakouts followed by trap are called Ziddi formations. Ziddi bulls is a formation showing bulls that did not let price travel even by three boxes twice after breaking down and then formed the Bear Trap. It shows the ... Read more
Oops Pattern
by PRASHANT SHAH -
Oops Pattern Oops pattern is a combination of support and resistance patterns. See below image. ‘O’ at same level indicates support. But it is possible that price will continue to fall further and trigger a bearish breakout pattern. If column reverses to ‘X’ from these levels, then we know that the support is level is ... Read more
Strike-back Pattern
by PRASHANT SHAH -
Strike-back Pattern See below image. Price went below its previous swing low. It is a bearish breakout. Price going below previous low is a double bottom sell pattern in P&F charts. Pattern is bearish. People who were looking at previous low as support are in trouble. Their stops have got hit; bears are dominating. Imagine, ... Read more
