re: poor mans charting.geffa
point and figure charts.. Do not believe in clock time..
because they have market time.. Though you can correlate market time to clock time through activity..
madmacs chart shows a strong bullish breakout after the building of a significant horizontal cause at 4850..
It is a semi catapult formation... look out for a bull trap..( next reversal will confirm ).. But this chart suggests the probability is that the next significant breather is not before 5525..
line of least resistance on a P&F chart is 45 degrees because supply or demand is taken out... Horizontal formations are of significance and is where contingent trades accumulate and are wound like a spring..
