This is an image of my latest trading strategy where I get my trading signals from Point and Figure currency charts aka P&F.
This is a description of a point and figure chart that I got for www.oanda.com:
Point & Figure (P&F) charts focus on price movements and do not present a linear representation of time. By removing the less-significant price movements (considered as noise), P&F charts potentially make it easier for traders to identify support/resistance levels and market trend lines.
In summary, P&F charts give traders a different perspective of the market comparing to the more traditional bar or candlestick charts and hence can be used as another guide to better understand the structure of the forex market.Point & Figure (P&F) charts focus on price movements and do not present a linear representation of time. By removing the less-significant price movements (considered as noise), P&F charts potentially make it easier for traders to identify support/resistance levels and market trend lines.
In summary, P&F charts give traders a different perspective of the market comparing to the more traditional bar or candlestick charts and hence can be used as another guide to better understand the structure of the forex market.
Click Here to go to the Oanda P&F webpage.
I am trading a demo account right now from Oanda and I am doing great! All my winners are great trades and even my losers are good trades also. The reason why I appreciate even my losers is because I was able to always get out when the market is about to turn. Then I take the reverse trade. It is just fantastic. I will try to follow the P&F charts and if I really do very well on my Oanda Demo Account then I will probably fund my real trading account again.
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