THE HAndbook oF TEcHnIcAl AnAlysIsFigure 15.44 Bollinger Band and Its Moving Average on a Three‐Box Reversal Point‐
and‐Figure Chart of Apple Inc.
Courtesy of Stockcharts.com
the horizontal Count
The first is called the horizontal count, where upside or downside minimum price
targets are based on the:
■ (^) Maximum number of boxes found across a number of columns
■ (^) Average number of boxes found across a number of columns and rows within
a consolidation
■ (^) Number of boxes between the initial and breakout columns
■ (^) Box size
■ (^) Reversal size
For upside horizontal counts, a practitioner usually finds the number of boxes
across the widest part of the consolidation or the number of boxes between the
initial and breakout columns, or finds the average number of boxes by adding up