Point and Figure Profit Target Horizontal Count Example
Hello!
This is Satori, researching FX.
Today we deliver “Point and Figure: Horizontal Count Example of Profit Target”.
The figure below is a profit target calculation example for USD/JPY 1-minute chart selling.
Please note that this is based on closing prices.
http://livedoor.blogimg.jp/fxmt4indicator/imgs/a/5/a565110c.gif
In the above figure, a 1-minute chart is used for explanation, but it shows that it can be used sufficiently even on a 1-minute chart.
Simple sell signals are displayed with a right-pointing arrow (email/alert), but to increase the probability, since the lows of the previous three columns align, you sell after breaking the three aligned lows.
Here, the sell occurs at 111.167.
The profit target uses Point & Figure’s own horizontal count calculation.
Profit target value = Upper box of the consolidation 111.247 – (number of consolidation boxes 10 × conversion frame 3 × 1 box’s pips 1)
= 111.247 – 0.30 = 110.947
Here, the profit target is cleared, and the next simple buy signal appears.
Profit taking was as follows.
+21 pips (sell price 111.167 – profit target 110.947 – Spread 0.01 = +0.21)
The stop loss for a short position is the point where a buy signal appeared in a losing position, so it becomes a 9-pip stop at 111.257.
Thus, Point & Figure charts simplify entry points from 1-minute to weekly charts and allow calculation of profit target and stop loss, helping you maintain a clear perspective.
Indicators related to today’s article are as follows.
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