#CurrencyPairPrediction Point and Figure charts are a price-based charting method that filters out the element of time. Instead of plotting price against time, these charts only record significant price movements. They are constructed using columns of Xs to represent rising prices and columns of Os to represent falling prices. A new column is only started when the price moves by a predetermined box size in the opposite direction. Traders often use Point and Figure charts to identify clear support and resistance levels, as well as classic chart patterns like double tops, double bottoms, and triangles. Breakouts above established columns of Xs or below columns of Os can signal potential buying or selling opportunities. Because time is not a factor, these charts can be particularly useful for identifying long-term trends and filtering out short-term noise. They can also help in setting price targets based on the height of the patterns formed. The focus on significant price changes makes Point and Figure charts a distinct approach compared to time-based charts like candlestick or line charts.