Point and Figure Chart Analysis for USD/JPY | Forex Factory

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Point and Figure Chart Analysis for USD/JPY

  • #1
  • First Post: Edited 7:44am Mar 25, 2009 7:00am | Edited 7:44am
Two sets of point and figure charts are used to track usd/jpy: hourly and daily. The daily PnF is used to gauge the current trend, while the hourly PnF is used to monitor the intraday fluctuation.

Both PnF charts use 3 box reversal. Hourly PnF use 25-pip box size, while daily PnF use 100-pip box size.

I uploaded some charts in picasa, I need to figure out how to insert it here.


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  • #2
  • Mar 25, 2009 2:16pm Mar 25, 2009 2:16pm
http://lh3.ggpht.com/_Eme9JvJeDhk/Sc...009-03-25.jpg"

On daily point and figure charts, it is clear yen found a double bottom support at 88 in mid of Jan. Then in mid of Feb, yen made a double top breakout at 94 (confluence with the breakout of resistance line). The up thrust met strong resistance just below the key 100 . Last week's sudden slide stopped at the former breakout level. Since the beginning of this week, most of the slide has been recovered.
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  • #3
  • Mar 25, 2009 2:33pm Mar 25, 2009 2:33pm
Keep up the charts and this will be a good thread.

I see a definite downtrend line that is yet to be broken, but we are very close. A close above 100 wo do it for sure.

GREEN PIPS to All.
  • #4
  • Mar 26, 2009 8:28am Mar 26, 2009 8:28am
Hi Trader Rich,

I've always been interested in P & F charts as it complements my Price Action style.

I hope you feel the interest and desire to continue your thread. I for one am very interested.

Have you tried any MT4 P & F indicators? I tried a couple and they "crashed" my platform even though I'm running the latest build, 220.

Thanks.
15 YEARS OF PASR ON FOREX FACTORY!
  • #5
  • Mar 27, 2009 7:17am Mar 27, 2009 7:17am
http://lh6.ggpht.com/_Eme9JvJeDhk/Sc...0USDJPYPnF.jpg

The overhead resistance from 99 is as strong as last week. The same bull trap happened again. Last time was a triple top false breakout. And this time we had a double top false breakout. History does repeat itself.
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  • #6
  • Mar 27, 2009 7:32am Mar 27, 2009 7:32am
Trader Rich,

I appreciate you taking the time and making the effort to maintain your P&F charts.

This is why I like FF. There are many, just like you, who take the time to bring their ideas and observations to the table for the rest of us to see and share. Even though I have been trading for over 35 years, and almost 30 of those professionally , I still appreciate different ways of looking at the markets.

For all of us, lurkers and posters alike, THANK YOU and please keep up the good work.

May ALL of Your PIPS be GREEN.
  • #7
  • Mar 27, 2009 8:10am Mar 27, 2009 8:10am
Thanks SmoothTrader, I will keep post point and figure charts.

Happy trading
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  • #8
  • Mar 27, 2009 8:40pm Mar 27, 2009 8:40pm
Thanks for reminding me about P&F.

http://i40.tinypic.com/16h7w2c.gif
TRO
  • #9
  • Mar 28, 2009 8:21am Mar 28, 2009 8:21am
Thanks Toddfx. I am glad my posts can remind you the beauty of point and figure charts.http://www.forexfactory.com/images/icons/icon10.gif
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  • #10
  • Mar 30, 2009 6:57am Mar 30, 2009 6:57am
Yen made a double bottom breakdown early morning at 97.25. There is an resistance line formed at top. Current rally might meet this resistance at 97.75. I will attach the point and figure charts later
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  • #11
  • Mar 31, 2009 4:33am Mar 31, 2009 4:33am
This is a great thread.It is one of its kind.Well,how can we get such charts since mt4 platform does not come with pnf charting.Iam following your thread with all my mind.Thanks for your kind efforts.Iam here to encourage you.
we cannot succeed without a well defined risk management.
  • #12
  • Mar 31, 2009 4:44am Mar 31, 2009 4:44am
Hi All

have been reading up on PnF charts lately, but have not yet find the actual box size for GBPUSD or for that matter, other currencies.

As I understand it, it obviously differs from Time-frame to TF, and currency to currency as well.

Could someone please direct me to where I could read up on this

tx
M&M
  • #13
  • Mar 31, 2009 7:28am Mar 31, 2009 7:28am
Quoting bosun2007
This is a great thread.It is one of its kind.Well,how can we get such charts since mt4 platform does not come with pnf charting.Iam following your thread with all my mind.Thanks for your kind efforts.Iam here to encourage you.
Thanks bosun2007. I use excel to draw my point and figure charts. It's a good routine. You may want to give it a shot.
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  • #14
  • Mar 31, 2009 7:33am Mar 31, 2009 7:33am
Quoting Fx1618
Hi All

have been reading up on PnF charts lately, but have not yet find the actual box size for GBPUSD or for that matter, other currencies.

As I understand it, it obviously differs from Time-frame to TF, and currency to currency as well.

Could someone please direct me to where I could read up on this

tx
M&M

Hello Fx1618, I have several posts writing about point and figure charts, you may want to take a look.
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  • #15
  • Mar 31, 2009 7:49am Mar 31, 2009 7:49am
http://lh6.ggpht.com/_Eme9JvJeDhk/Sd...0USDJPYPnF.jpg



Yen is still in the swing mode. The quick snap back made a double top breakout at 98.25, confluenced with the breakout of the resistance line. The overhead resistance is still there. Be careful!
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  • #16
  • Mar 31, 2009 12:12pm Mar 31, 2009 12:12pm
The breakout is true. Yen stands at 99.25. It could be fun to watch how yen gonna deal with the key 100 level. Let's take a close look.

1st upward target: 99.07
2nd upward target: 99.70
3rd upward target: 100.33
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  • #17
  • Apr 1, 2009 2:45am Apr 1, 2009 2:45am
Quoting Trader Rich
Hello Fx1618, I have several posts writing about point and figure charts, you may want to take a look.

tx Trader Rich, Ill search on your profile and do just that.
  • #18
  • Apr 1, 2009 10:17pm Apr 1, 2009 10:17pm
thanks for this info. Really helpful
  • #19
  • Apr 2, 2009 6:18am Apr 2, 2009 6:18am
On hourly point and figure chart, yen made a double top breakout at 99.25. The up thrust took former swing high at 99.66, but met the resistance from 100. Today we might witness yen stand above 100.
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  • #20
  • Apr 3, 2009 9:44am Apr 3, 2009 9:44am
Yen touched 100 key level in Asia session, but lack of following through momentum. On daily point and figure chart, it's a double top breakout at 99, while on hourly chart, also a double top breakout at 99.75. I will add a point and figure chart later today.
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