Any trader has heard about such an interesting way of graphical analysis as point and figure charting. Reflecting the behavior of shares, futures and other financial instruments, this method is considered to be the simplest and highly effective system for the market analysis.
It is generally accepted that point and figure charting can help not only estimate support and resistance levels, but also identify the phase of market development and the key moments of price movement. By means of this method one can easily find target zones and distinguish real breakouts from false ones.
Not many people accept this method considering it to be unreliable, the others see a lot of reasons to learn it. In Thomas Dorsey's book Point and Figure Charting one can find information about the basics, ways of chart construction and interpretation of this method written in a comprehensible and obvious way.