Point & figure (P&F) charts have been used by market technicians for more than a century. These charts were used by Charles Henry Dow in the late 1800s, and the first detailed explanation of this technique was published by Victor deVilliers in 1933. DeVilliers’ book, The Point & Figure Method Of Anticipating Stock Price Movements, preceded the classical text for interpreting the more popular bar chart, Robert Edwards and John Magee’s Technical Analysis Of Stock Trends, by 15 years. Read on to learn more...
Day trading involves buying and selling a stock, ETF or other financial instrument within the same day and closing the position before the end of the trading day.
These patterns take an extra day to form, but they spot turning points more accurately than standard reversal-day definitions.
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