文档介绍：Trading with Point & Figure Charts
PnF University
1
History of Point and Figure Technical Analysis.
A brief history of Point and Figure Charting along with some statistics on sector timing versus market
timing.
The premise of Point & Figure charting is to provide a logical, organized and sensible way of recording
the supply and demand relationship in any particular security or sector. When it is all said and done, if
there are more buyers in a particular security than there are sellers willing to sell, the price will rise. On
the other hand, if there are more sellers in a particular security than there are buyers willing to buy, then
the price will decline. If buying and selling are equal, the price will remain the same. This is the irrefutable
law of supply and demand. The same reasons that cause price fluctuations in produce such as potatoes,
corn and asparagus cause price fluctuations in securities. - taken from the book "Point and Figure
Charting" by Tom Dorsey.
The chart above depicts the first style of Point & Figure charts. Over the years, they have evolved. Today,
the price is located on the vertical axis and the "figures" are replaced with X's and O's. X's represent
demand and are always moving up the chart while O's represent supply and are always moving down the
chart.
This methodology was prominent in the 1960's but then dropped out of favor. This form of technical
analysis is unique and to e a craftsman requires study. By attending this on-line University you are
well on your way to ing a craftsman. You will learn more about this in Lesson 1.
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e:
Lesson 1: Introduction
Here we go! In this section we will list any
This chapter is designed to familiarize you with Point and Figure ing live online classes
Charts, we call these "attributes" in this University. For those that are specifically covering this chapter.
familiar with PnF and have used it in their investment research, you