Point and Figure charts make it Brain Dead Simple.

Ted Burge Has Had Over 100 FollowersPrevious "Hall of Fame" ChartList Author Rank: 11 Followers: 146 Votes: 323 Years Member: 13 Last Update: 27 July 2016, 9:06 Categories: Point and Figure Charting
Support / Resistance Lines

Brain Dead Trading with PnF charts.

July 25th! There were 1548 stocks to X's from Feb 1st to March 7th and now there are 1545 net (lost 52 to O's today) that have moved to X's since Feb 1st (55 less than last March 7th) has been about increasing demand until it changes. X's and O's change for a reason so watch for a shift. So far the recent peak was last Friday July 21st at 1612 so time to be aware!

June 28th! There were 1548 stocks in X's from Feb 1st to March 7th and now there 1610 that have moved to O's since that date. The difference is a complete reversal plus 62 more stocks to O's.

June 17th! As of the close today the total since February 1st is 1508 (-6 today) PnF buy signals with 599 stocks to X's (up 24 today) and NOW -949 below the high of 1548 on March 7th. . Compare to the lines above and below to see what happens!

June 8th As of the close today the total since Feb 1st have been a net 1643 PnF buy signals (up 40 today) 1484 stocks to X's ( up 79 today) since Feb 1st, now ONLY -64 below the high of 1548 on March 7th. .

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.

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

Just the facts.

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!


..$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 is the line between a bullish and a bearish bias.. 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, what 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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