When I use point-and-figure charts in my posts, I get complaints that I'm not using the modern candlesticks or high/low/close charts. This tells me that pnf charts are not widely used by retail traders -- and so they are useful.
Yes John I did bring that up in the post because P&F charts aren’t as widely used as, candlesticks, there’s less of a "herd mentality" that might confirm your signals. You might see a breakout on your P&F chart, but fewer traders will be watching the same signal, meaning less volume and momentum might follow through.
When I use point-and-figure charts in my posts, I get complaints that I'm not using the modern candlesticks or high/low/close charts. This tells me that pnf charts are not widely used by retail traders -- and so they are useful.
Yes John I did bring that up in the post because P&F charts aren’t as widely used as, candlesticks, there’s less of a "herd mentality" that might confirm your signals. You might see a breakout on your P&F chart, but fewer traders will be watching the same signal, meaning less volume and momentum might follow through.
It's one of the steps I take after I've checked a few other factors.
Yep same here!