Point and Figure Chart
Cancel out the daily noise….
The X and O chart is a very old method first written about in 1898. Its popularity rose in the 1940s with the publication of A. W. Cohen’s 1947 guidebook on point and figure stock market timing. By contrast with other price presentation methods where price is dependent method marks a rising price as X and a dropping price as O. This method chiefly serves long-term investors, since it presents prices over just one timeframe (for example, the closing prices of a period of trading days).Therefore it sifts out intraday trading fluctuations, based on the premise that intraday changes are no more than distracting noises that cause the investor to implement unnecessary actions. Here is an example of a point and figure chart: