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Point and Figure Charts
Module Units
- 1. Introduction
- 2. History and Development
- 3. Characteristic
- 4. Construction with Xs and Os
- 5. Point and Figure construction 1-box
- 6. Point and Figure construction 3-box
- 7. Understanding point and figure charts
- 8. Reversal patterns in 1 -box charts
- 9. Triple-Top and Bottom Patterns
- 10. The strength of the pattern
- 11. Symmetrical Triangles - Sloping Top And Sloping Bottom
- 12. The Breakout And Pullback
- 13. Traps
- 14. Poles
- 15. Congestion analysis
- 16. Trend Lines On Point And Figure Charts
- 17. Bullish Support And Bearish Resistance Lines
- 18. Parallel Trend Lines
- 19. Key takeaways from Point and Figure charts
- 20. Projecting Price Target
- 21. Counts on 1-Box Reversal Charts
- 22. Counts on 3-box reversal charts
- 23. Horizontal Counts On 3-box Reversal Charts
- 24. Things You Should Know About Point And Figure Counts
- 25. Risk-Reward Ratio From Vertical Counts On 3-Box Charts
- 26. Point & Figure Indicators
- 27. Point And Figure’s Contribution To Market Breadth
- 28. Conclusion
Projecting Price Target
One of the biggest advantages of Point and Figure charts is 'the count', as it is called, which is the ability to project price targets from the chart. As with 45° trend lines, these counts are objective. They are potential targets that give the analyst an idea as to how far the price can go. It is important to stress the word 'potential'. These targets are a rough estimate.
Two methods are used to establish price targets: horizontal and vertical counts. 3-box reversal charts allow both vertical and horizontal counts, whereas 1-box charts allow horizontal only. We will discuss each of them in our subsequent units.
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