Chart Ideas

[rimshot]

Point & Figure Charts Plummet in Triple Bottom Breakdowns
Greg Schnell | December 23, 2018

https://stockcharts.com/articles/dont_ignore_this_chart/2018/12/pnf-charts-plummet-in-triple-bottom-breakdowns.html

excerpt -

With the ongoing market turmoil, it seems that the P&F charts are plummeting.
This style of charting does a great job of clearly illustrating support -
you can see when price break downs as support is broken.
The chart below demonstrates how well the price has been supported at 2600.

The second-to-last column of O's briefly
broke below the two prior lows,
forming a pattern called a triple bottom breakdown.

After a small bounce up, the price failed to make a higher high.
When the final column of O's formed, the price plummeted lower.

After the price reached the up-sloping blue line,
that level became support.
Now that price has broken below that level,
it has switched and drawn a red line on the top,
indicating a bear market.