In this video of Face2Face, we've with us Mr. Vivek Bajaj, co-founder, StockEdge and Elearnmarkets, and Mr. Prashant Shah, CEO, Definedge Solutions. He will talk about point and figure charts in this video with a keen demonstration of the charts. Various charting methods and ways to plot the chart, including the box value, are also discussed thoroughly.
Mr. Shah will share how he developed his passion for technical analysis and charts. Further, he will delve into the basics of Point and Figure, patterns and strategies. With the help of a basic line chart, he'll show how he divides the line chart into fixed boxes explaining the construction of Point & Figure. He will share why he calls this charting method noiseless and not timeless. Then he touches upon the one-box reversal pattern. He aims to discuss the traditionally followed 3-box reversal method and the strategies around it. Additionally, he will also explain how to determine the box value. He further discusses the types of box-value and the shortcomings of each method. He will also share his recommendation on the box value for mid-caps, Index with which people can start.
Further, he will talk about how we read the patterns and trade on them. With the help of a basic illustration, he explains the bullish reversal and bearish reversal patterns. Double top and bottom patterns appear on a chart when the underlying investment moves in a pattern similar to the letters "W" (double bottom) or "M" (double top) (double top). In technical analysis, double top and bottom analysis are used to explain movements in a security or other investment, and it can be used as part of a trading strategy to exploit recurring patterns. The system of double top and double bottom is also explained for the viewers to understand the techniques involved in points and figures. The various significance of every point and figure are well taught to beginners in the trading industry. The candlestick pattern analysis is also done for the stock selection and provides tricks to get the best investment returns in stock trading.
For the finest learning experience, watch this Face2Face video where Mr. Shah teaches all beginners the fundamentals of points and figures, which are similar to the ABCD of trading.