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Saturday, August 30, 2014 12:10:30 AM
Trendlines drawn on 3-box Reversal P&F charts are more objective than trendlines drawn on bar or line charts. Chartists can use this objectivity to establish a trend biased based on the trendline displayed. A bullish bias is present when the current trendline is a Bullish Support Line. A bearish bias is present with a Bearish Resistance Line. Daily P&F charts cover a fairly long timeframe. Chartists can use the daily P&F chart to establish a big trend bias and then turn to 30 minute P&F charts to look for signals in harmony with that trend.
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