Point and Figure charts make it Brain Dead Simple.

Ted Burge Has Had Over 100 FollowersPrevious "Hall of Fame" ChartList Author Rank: 13 Followers: 156 Votes: 367 Years Member: 13 Last Update: 3 May 2016, 16:18 Categories: Point and Figure Charting
Support / Resistance Lines
Currencies

Brain Dead Trading with PnF charts.

Bullish Percent moved one percent lower on Friday and the reason was the shift in demand to supply.

May 2nd! As of the close today the total since Feb 1st is a net 1616 (-18 Tuesday) PnF buy signals and 1019 (-200 Tuesday) net to X's for the period and now 529 below the high of 1548 on March 7th.

www.tedslines.com for a video that shows some charts of the recent changes that you will not see any where else!

Just the facts! If O's start to accumulate (supply) they are the precursor to sell signals.

Feb 29th! As of the close of the month of February were net 532 PnF buy signals and a net 846 stocks to X's.

January 29th! The month yielded a net 161 PnF sell signals and a net 926 stocks to O's.

December 31st At the close we have had net 342 PnF sell signals for the month and a net 471 stocks to O's. An increase in sell signals and O's and the cycle makes a shift!

Just another way of objectively defining the trends of supply and demand and it works.

Just the facts.

Such a simple methodology and we have a complete report each evening.

www.tedslines.com

The e-book explains the methodology to Objectively define Support and Resistance using any chart in any time frame.

Once you understand it, 'it's brain dead simple'!

Simply watch what price does at objectively defined support and resistance.

Readers have coined the term the 'Ted Lines'!

PnF charts are the 'yeast that raises the dough!62

Less

..$GDM - Daily Candlesticks, 780

Look left to be right and we can see resistance going back to January of 2015! Now it is support as of April 28, 2016

This index responds in a different way than the instruments based on physical Gold. The 20 SMA is still support and has been challenged on some of the other Gold instruments.

....86. GLD - Daily Candlesticks, 780

The principle is that price is King and the 20 SMA has been support since the beginning of January this year. If it dips below the 20 SMA it is a sign of increasing risk.

....981. $GOLD - Daily Candlesticks, 1024

April 7th, 2016 Trading this morning at 1239 and this is above the 20 SMA. This chart shows the end of day price only.
Watch price direction if and when the 20DMA is lost as support! Price is at the 20 SMA and it is also a Tedline defined in December of 2014!

....988. $GOLD percentage PnF chart

Percentage PnF chart where the box sizes increase in value based on 1% of the closing price.

...771. NYSE Composite Index ($NYA) MONTHLY CHART

Closed 10104 on Friday March 11, 2016.

Where is price NOW compared to the closing price of December 2015 at 10143.42!


January closed down an additional 510.72.


The answer as of December 24th is a close of 10258 that is $1.00 more than the close of December 3rd! The month of December closed down -266.16 at 10143.42

..411. NASDAQ 100 Shares (QQQQ) candle

Now the activity is at 108.00 +/- a small margin of error.

Now we can see that within the margin of error of 1/2 of one percent that 104 +/- .50 cents has been an important level before.


One message! If you know how to to accurately find support and resistance you can make it work for you.


If you don't know, you don't know! It's in my e-book!


It is all about objectively defining where price has changed momentum or direction in the past. These are the TED Lines and they are posted in advance are are light years ahead of any other indicator.

..42. QID - Daily Candlesticks, 1024

Added on May 18, 2015 with Tedlines based on a 60 minute PnF ATR chart

..43. QLD - Daily Candlesticks, 1024

..433. QLD - 60MN PnF, 460

Marxh 9th a 3 box reversal to O's considered normal price activity.

1. $INDU - Daily Candlesticks, 1024

Close December 2015 was 17,425.03

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