Nifty Futures Positional Trading Using Point & Figure Charts

Following this system on stocks since 2021 and started on Index in 2022

Based on Richard Dennis's Turtle Trading System and the P&F version was created by @Prashantshah267

Details

Chart Settings

Instrument: Nifty Futures ( Current Month)
Chart : Point & Figure
Box Size: 0.10%
Reversal Box: 3
Data Frequency- 1 Min

P&F Charts don't have concept of time but it has a concept Data Frequency, i.e. duration after which to consider plotting X or O on the chart

Since DF is 1 Min here, so we need to wait for 1 Min closing on P&F Charts for Entry, Exit Signals

The chart is an Intraday Chart & requires Intraday data

Which is available on the Real Time Tradepoint Software & on the Web Version of this software

https://t.co/oAshC7rfD1

-

Let's now Discuss Bullish Entry Pattern

The Entry Pattern is called as a Bullish Follow Through Turtle Buy Pattern

This actually comprises of 2 Parts

1. Bullish Turtle Breakout
2. Bullish Turtle Follow Through

For Entry, #1 must happen and there must be a #2 immediately

First Let's Understand the Bullish Turtle Breakout Pattern

This is a 5 X BO Pattern

If current column of X goes above highest ‘X’ in last 5 columns (including current column), then it is a 5-X Turtle breakout.