Point and Figure charts make it Brain Dead Simple.
..$RUT - 1 hour Candlesticks, 1024 3
October 21st! 1107 and price is back to that point again.
November 18, 2013! Closed at support 1107!
Watching where (not when) price has changed momentum or direction before offers insight into the next price that the process may repeat.
..111.$BPNDX - Default Style
When bullish percent falls from above to below 70% it is time for a defensive position.
When Bullish percent moves from below 30% to above 30% its time to shift the bias. Fell below 70% when options expired in September.
Today is Friday Oct 17th and it's back to options expiry day, exactly one month later.
.86. GLD - Daily Candlesticks, 780
The prinicple is that price is King and when it finds previous levels of support (or resistance) it will 'remember'! 114 .45 is the number. The PnF chart below has a bottom at 114 as well going back to July of 2010.
.87. GLD Traditional PnF chart
Sell signal in April 2013 and support in December 2013 at 116 and again in September of 2014.
Support at 114 going back to July 2010
Oh! So simple!
.8C. $HUI- Daily Candlesticks, Very Wide 8D
Look left to be right.
.8CC. $HUI Daily ATR
190 going back to December of 2013
.981. $GOLD - Daily Candlesticks, 1024
1183 taken from the PnF chart below
.988. $GOLD percentage PnF chart
Percentage PnF chart where the box sizes increase in value based on 1% of the closing price.
1. $INDU - Daily Candlesticks, 1024
Close to the highs of July and now resistance until proven otherwise. (17151.56) Always a margin of error intra-day.
11.$INDU Traditional PnF chart
October 13th, 2014 16350 is a quadruple bottom at 16350 with a box size of 50 points price must go as low as 16300 or lower for the quadruple bottom to be breached.
A triple top last June and July (6 & 7) and a quadruple bottom breakdown on October 1st at 16950