Point & Figure Webinar with Jeremy Du Plessis

[ChartistLion 10]

Jeremy du Plessis, author of The Definitive Guide to Point & Figure, reently took part in a live webinar on FXStreet.com's The Traders Bookshelf:

 

http://www.fxstreet.com/webinars/sessions/session.aspx?id=9e70e1f7-a8ba-4b9c-bae6-c914e94e9257

 

The webinar opened with a short introduction to Jeremy's book which was described by the shows host, Gonçalo Moreira, as a masterpiece. The book has been added to FXStreet.com’s selection of ‘books that provide the best value for currency traders’. The webinar then went into a 45 minute live Point & Figure charting session on the currency market using Updata's technical analysis software.

 

This webinar will be beneficial to traders who are interested in Point & Figure and using P & F charting methods for their FX trading. The methods can be applied to other markets ofcourse. Really good webinar all in all.

 

Chartist Lion

[peterjerome 10]

here's something i use from Jeremy's 'Definite Guide'.

 

PnF can be used effectively for medium AND short term trading. (assumes reader is already familiar with PnF charts)

 

Example:

chart is daily 1x1 (h/l) for COST. (note:reversal AND box size are both 1)

 

shows Reward / Risk analysis.

Red TLs show bullish and bearish support.

entry occurs 01/31/12 when price moves above Bullish Support TL

note: you could also use more conservative entry and wait for PnF pattern 'catapult'.

Target Price = 93

entry = 82

stop exit = 80 (price drops below TL AND PnF pattern is Fulcrum Reversal.)

note you could reduce risk even further with exit at TL break (81).

 

Risk = 2 (entry - exit) 82-80 = 2

Reward = 11 (Target - Entry) 93-82 = 11

R/R = 5.5

note you could reduce risk even further with exit at TL break(81).

 

 

 

R/R of 11..you only have to be right 2 out of 11 entries to be profitable.

 

good trading,

peter