| Welcome: |
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| Lesson 1: |
Part 1. Attributes of a Chart |
Here is a Point and Figure Trend Chart with the characteristics
pointed out and described. We will go into detail as we continue
through the first lesson.
A Point and Figure
Trend Chart:
The trend chart depicts the price action of the stock. We call
it the trend chart because of the support and resistance lines
that determine whether a chart is above or below trend. If someone
say's "...the trend chart" you know they mean this
type of chart, this is different from an RS chart for example.
| Key Points: |
*
X's mean the
chart is rising
* O's mean the chart is declining.
* Never will you see X's in a column of O's or vice versa.
* Each column must have at least three X's or three O's. |
You will notice some columns have numbers or letters
in place of an X or an O. (In blue). These depict months:
1 = January
2 = February
3 = March
This continues until October in which...
A = October
B = November
C = December
This is because two digit numbers wouldn't fit in the box. |
 |
| Value / Price column |
The
vertical axis is the price scale. From this you can determine the value of
each row. |
| Trend Lines: |
The
Bullish Support Lines and Bearish Resistance Lines help us determine the trend of the stock. |
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