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Point and Figure Chart Analysis for USD/JPY

  • #21
  • Apr 6, 2009 8:40am Apr 6, 2009 8:40am
http://lh6.ggpht.com/_Eme9JvJeDhk/Sd...0USDJPYPnF.jpg

Finally, yen made it. On above hourly point and figure charts, yen made a double top breakout at 99.75. Actually, yen was just 2-pip shy to make a 3-box reversal on Friday's NFP event. What a clever shaken-out.
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  • #22
  • Apr 8, 2009 5:57am Apr 8, 2009 5:57am
i bought the breakout marked as shown on my chart.Am i using pnf correctly? Also,i will like to know how you set you take profit level.Thanks
Attached Image
we cannot succeed without a well defined risk management.
  • #23
  • Apr 8, 2009 6:10am Apr 8, 2009 6:10am
Quoting bosun2007
i bought the breakout marked as shown on my chart.Am i using pnf correctly? Also,i will like to know how you set you take profit level.Thanks

Actually most P&F charts require at least three boxes for a reversal. I see that you have set your box size for approximately 30 pips. That would mean for you to change from up "boxes- X's" to down "boxes O's" the market would have to be at least 120 pips lower than the top of your last up "box - X." If you look at Trader Riches charts below,you will see what I mean.

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  • #24
  • Apr 8, 2009 8:09am Apr 8, 2009 8:09am
Quoting SmoothTrader
Actually most P&F charts require at least three boxes for a reversal. I see that you have set your box size for approximately 30 pips. That would mean for you to change from up "boxes- X's" to down "boxes O's" the market would have to be at least 120 pips lower than the top of your last up "box - X." If you look at Trader Riches charts below,you will see what I mean.

Attachment
i use 25 for my box size.would you say something on profit level objective?
we cannot succeed without a well defined risk management.
  • #25
  • Edited 7:25pm Apr 13, 2009 9:05am | Edited 7:25pm
http://lh5.ggpht.com/_Eme9JvJeDhk/Se...USDJPY_PnF.jpg

From above hourly point and figure charts, it is clear yen found a double bottom support at 99.50. The recent rally took a double top breakout and also broke the resistance line formed during the slide after yen broke 100.
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  • #26
  • May 11, 2009 7:52am May 11, 2009 7:52am
yen met resistance at 99.50

http://lh5.ggpht.com/_Eme9JvJeDhk/Sg...060min_PnF.jpg
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  • #27
  • Oct 26, 2017 12:16pm Oct 26, 2017 12:16pm
any one here available for further discuss on this point and figure
Success is a Journey Not a Destination....... kind regards ramzam
  • #28
  • Oct 26, 2017 4:06pm Oct 26, 2017 4:06pm
yeah im here
  • #29
  • Last Post: Oct 26, 2017 6:59pm Oct 26, 2017 6:59pm
Quoting metta87
yeah im here
thank you so much for being here ....
Success is a Journey Not a Destination....... kind regards ramzam
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