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Re: Point and Figure for Forex?
Hi pip rippy
P&F can be used well in forex and can evenbe extended to use on indicators such as RSI etc.
Like time series charts you do have to gather a feel for them but they come with unambiguous buy/sell signals, stops and very clear reversals. the point to remember is that they function in a very different way because the time element in removed. The chice of box size and reversal depends mainly on your capital(max drawdown tolerence) and your trading timeframe. intraday weekly monthly etc. so you have to make the same choices and selections you did when you first started trading. I suggest you experiment with a book on your knee I recommend 'the definitive guide to point and figure' by Jeremy du plessis isbn 1-897-59763-0 It is not the cheapest but he covers all the bases in detail. he does not describe forex in detail but you will know so much about P&F it will be a short step for you. like most things P&F is quick to learn but to use well takes a little effort. But it does some amazing things.
Good trading - trif
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