WY-06-26 / 01
Point-and-Figure Charts Versus Time-Based Candlestick Charts
Decisions, Execution & Validation
Lesson / WY-06-26
A time-based candlestick chart produces a bar at fixed intervals whether or not price changes materially. A P&F chart updates when price reaches a grid line: it may change many times in one day or add no boxes for several days. A horizontal column does not represent a fixed number of hours or days, and column width cannot directly indicate structural duration. The number of columns occupied by a trading range depends on the number of price reversals, box size, reversal rule, and input data, not simply calendar length.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
9 lessons · Chapter contents
01Point-and-Figure Charts Versus Time-Based Candlestick Charts↗02Box Size, Reversal Boxes, X Columns, and O Columns↗03Price Data and Construction Rules↗04Basic Differences Between One-Box and Multi-Box Reversals↗05Wyckoff Horizontal Counts: Count Line and Counting Range↗06Segmented Counts and Their Difference from Phases A–E↗07From Count Results to Target Estimates↗08Parameter Changes, Recounting, and Hindsight Selection of Boundaries↗09Connecting Target Estimates with Actual Trading Risk↗Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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