[gassah]

	Quote:	DbPhoenix
	Incidentally, W would most likely move his stop up below 1840. Nic?

The first chart is the NQ 1m from yesterday which I think is the chart under discussion. Along with a trailing stop I believe W would have drawn the channels and considered exiting at the preliminary supply and/or buying climax (BC) areas. The BC is especially attractive because:

1. Price hit a prior day's congestion
2. It was overbought outside an accelerating channel (position)
3. It reached a point and figure target

I've never tried point and figure on the 1m NQ so I don't know how well it works. Not all stocks/securities work with point and figure and each one would have to be checked historically to confirm.