| A type of charting used by technical analysts that plots price changes without regard for time or volume. A point and figure chart has price on the Y-axis and time on the X-axis, but the time function is not regular because prices are only plotted on the chart when there is a change. Whenever a price rise occurs, an X is marked on the chart. The Xs are marked vertically as long as the changes are heading in the same direction (i.e. up). When the prices start falling, a new line on the X axis is used and marked with an O. The idea behind point and figure is that you see on the chart a clear pattern of significant price movements up and down.
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