Point and Figure Charting - anyone using this for Bitcoin technical analysis?

[HabBear]

Hey - is anyone using point and figure chart to aid their technical analysis for bitcoin trading?

Point and figure is old school, but follows fundamental technical analysis procedures, however it teaches you how to plot your own charts based on price movements in a way that makes shoulder patters, double tops, double bottoms, and the subsequent breakthrough opportunities a bit easier to see.

Here's a source for learning point and figure charting.

Really curious if anyone here is into it, if there's a few loyalists among us, if so give me a holler.

[tranthidung]

I don't use it and don't have interest in such complicated TA.

A glance shows me that you need to be very patient to do this TA but the decisive factor is not your patience when you do TA. It relies on your patience when you wait to entry and exit market with your orders. All TAs will be useless (even you do great analyses) if you don't have enough patience to start and finish your plans.

[GreatArkansas]

As said in the article, it's the best technique for only price action and for pattern too but it's kinda difficult.
I haven't tried this technique too. But I think there is some part of this technique that what the majority of techniques using these days.
Maybe some people who already tried this was those people who started trade with stocks a long time ago, since this tecnique is already more than 100 years old.

[KnightElite]

I don't use it and don't have interest in such complicated TA.

A glance shows me that you need to be very patient to do this TA but the decisive factor is not your patience when you do TA. It relies on your patience when you wait to entry and exit market with your orders. All TAs will be useless (even you do great analyses) if you don't have enough patience to start and finish your plans.

I tried to open the sites and it is my first time to encounter that trading style, it is really complicated wherein my skills and my emotions are not suitable to it. I still prefer to use my trading system that I built in this past years because it is not complicated wherein I just using 2 indicators and these are moving averages and RSI only. I actually read the point and figure charting twice but I still did not get it and I do not know where to use it, anyway it is a traditional system and for me it is not applicable anymore because the market are always changing after all.