I'll admit to being lost in using the P&F hart, even though it seems interesting to learn. I understand the x's are for the bull candles, o's are for the bear candles.
I'm assuming the numbers represent some sort of wave measurement within the trend. If that is the case, then how did it conclude that the 9th would have been it?
Is the A-B-C P&F's way of measuring a candle formation reversal pattern?
How does the chart determine the market is headed to 6750?
Maybe a lot of questions concerning P&F, but it does show my lack of understanding concerning it and a desire to be enlightened.
BTW, through the use of other methodological approaches, I understand how the 6750 was derived. I want to know how P&F did it, and how through those x's, o's, and numbers derived it.
Thanks! BTW, I'm glad to see you back again. I hope there has been much improvement for you and you have been getting all your needed rest.
Hi Paul this Auto generated P&F Chart suggests Nifty heading to 6750 as price Objective. Breakout given on 10th Jan.
According to my reading 5800+ possible around April.2012 Trend rev. placed at 4950