Point and Figure charts make it Brain Dead Simple.

Ted Burge Has Had Over 100 FollowersPrevious "Hall of Fame" ChartList Author Rank: 14 Followers: 155 Votes: 295 Years Member: 12 Last Update: 30 June 2015, 15:49 Categories: Point and Figure Charting
Support / Resistance Lines
Currencies

Brain Dead Trading with PnF charts.

May 20th! The Russell 2000 has 65 more stocks in X's than at the end of April,.(52 percent) with bullish percent (percentage of components on a PnF buy signal) is lower than it was at the same point.

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' and what you see on the candles charts are Support and Resistance based on PnF analysis.

Less

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

March 20th! The high of the month is at an interesting level.

11105 the high of last July 2014 on this monthly chart and closed at the same level last Friday February 20th! Where is price NOW!

February 27, 2015. Now we know that the biggest stock exchange in the world did not advance this week! Just the facts.

....7711. $NYA - Quintruple Top at 11100

June 29th! A triple bottom at 10900 and should price move to 10850 a new sell signal will be generated. The notes below at May 28th explain the pattern was a Bull trap.

June 22nd A new buy signal at 11150 with resistance at 11200 and a 3 box reversal to O's if price moves to 11000 or lower

June 18th The red line is called the bearish support line and if broken will generate a new buy signal.

June 11th. The blue line as we mentioned is a significant level of support and a three box reversal as of today would be at 10950 and that is the line.

May 28th. At the top of the chart you will see any new patterns. As of the moment, the PnF pattern is a 'Bull Trap' as a new buy signal was elicited at 11250 and then an immediate reversal to O's and a sell signal.

The blue line is called the Bullish Support line and is always at 45 degrees and usually signifies and important level of support or resistance.

11100 we see a total of 5 X's spread over the period since July 2014. (7 for the 7th month of last year)

...36. Russell 2000 Small Cap Index ($rut)

The TED LINES won't change (they have been posted in advance for months and sometimes years) and they are where price will change momentum or direction.

Support and resistance is not based on pivot points, or theory, it is based on objective analysis of price activity over the life time of a trading instrument.

The only thing we can objectively define in advance is support and resistance. What else do you really need to know. (except understand the methodology to find it) Support and Resistance based on price analysis may be objectively defined.

You are the judge! You can evaluate the outcomes on these charts.

www.tedslines.com

...366. $RUT - 1 hour Candlesticks, 1024 3

1277 is an important price point after losing the short term trend line as support.

Watching where (not when) price has changed momentum or direction before offers insight into the next price that the process may repeat.

...3667 $RUT - daily PnF, 700

April 29, 2015 Price must hit 1240 or lower for a 3 box reversal to O s

..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 18th with Tedlines based on a 60 minute PnF ATR chart

..43. QLD - Daily Candlesticks, 1024

1. $INDU - Daily Candlesticks, 1024

February 27 close 18,132

January 30 close 17164

Dec 31 close 17823

Nov 28 close 17828 (Last trading day of November)

11. $INDU - Monthly Area, 1024

Nov 7th! As of the close the DOW has gained over 4500 points since November of 2013. The horizontal line is simply a reference point.

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