See picture.
I don’t get it. Could you explain it a little more please?
This is Point & Figure Charts.
For example.
Point and Figure Charting
Point & Figure Charts - StockCharts.com
Interesting, never heard of P&F charts before.
I don’t really understand what the advantage is over candlesticks though. It just seems like another way to plot S+R lines and trendlines??
Example of use.
I get that, but I can see the same wedge pattern with trendlines on my candlestick chart.
What is it that you can see with P&F charts that you can’t see with normal charts? There has to be some advantage to going through all the trouble to make them?? 
Right! Almost anything!
But you can make any charts.
Oil for example.
looks like its perfect chance to short it right now
if down trend continues then it will be big profit
of course reversal can always happen too
I hope you didn’t make a trade based on that!!
Descending wedge patterns like that usually mean the price is going to go up.
I actually traded this after I saw it, even though I usually don’t watch this pair. I got 69 pips with only a 15 pip risk.
Here’s the same chart today…
I think I’ll stick with candlestick charts over P&F charts. 
Review.
I look forward to the end of the fall.
I got some exposure to p&f charts when I dabbled in the futures market years ago. As I recall they eliminate, no, condense the time dimension right?
Yep, that signaled a clear uptrend from jun3 to jun5, then a downtrend started. Simple moving averages would have shown that, it’s going up today july3
By understanding the market sentiment and by using p&f chart and p&f patterns, losses can be minimized.
EUR\GBP today.
Point & Figure charts are great for the longer moves… requires some study, and may not be as effective in Forex as the methods used by Phil and Andre.
With a portfolio of stocks, however, the various approaches to the P&F system can be lucrative.
I like to have P&F charts available for forex as they clearly indicate S&R… but for longer periods.
i has an open short position on eur/gbp since a week with 70 pips sl and 70 pips of tp and didn’t triggered both… too slow in these days!!!
EUR/GBP Weekly Outlook
After all the choppy price actions EUR/GBP is still staying in range of 0.8546/0.8697. With 0.8546 support intact, another rally is still in favor. Above 0.8697 resistance will indicate that rebound from 0.8399 has resumed and add favor to the case the EUR/GBP has already bottomed out at 0.8399 and will pave the way for strong rally towards 0.8866 resistance. However, on the downside, break of 0.8546 support will suggest that choppy rebound from 0.8399 has completed. More importantly, this will indicate that such rebound is corrective in nature and recent decline from 0.9799 is still in progress for another low below 0.8399 before completion. [actionforex]
is that logo on the chart a form of advertising…?
attached is an excellent Point & Figure Indicator for Metatrader
Keep the file size small as if too large… takes a while to draw the charts. I use a chart size of 1000.
You will have to adjust the box size to your preferences
FXI_Point&Figure-Adv.zip (5.8 KB)
Indicators lot.
Your a good indicator of quality.
Excel is better!
I like the MT-4!
Why only the MT-4?
The majority of the technical indicators tell traders what has
happened and are considered lagging indicators while chart and
P&F patterns predict what will happen in the immediate future
and can be considered as leading indicators.