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Tom Mullooly What's a Point and Figure Buy Signal

What is a Point and Figure Buy Signal?

February 9, 2015 by Thomas Mullooly

In the last video, Tom showed us the daily process of updating a point and figure chart. Another main component of point and figure charting is the buy signal. Tom shows exactly what a point and figure buy signal is in this video.

In point and figure, when a current column of X’s reaches the same level as the previous column of X’s this is a double top. When the current column of X’s exceeds the previous column of X’s, we call this a double top buy signal. This is one of the most basic chart patterns in point and figure. As you can likely imply from the name, a buy signal is a positive development. We consider many other factors important in the purchase of a security, but a buy signal is definitely a pro rather than a con.

Point and figure charting is best learned in a visual method, so check out this week’s video. You will understand a point and figure buy signal more clearly after watching.

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Filed Under: Videos, Chart School, Technical Analysis Tagged With: buy signals, point and figure

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

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