what is a point and figure p f chart 
a point and figure chart plots price movements for stocks bonds commodities or futures without taking into consideration the passage of time contrary to some other types of charts like candlesticks which mark the degree of an asset s movement over set time periods p f charts utilize columns consisting of stacked x s or o s each of which represents a set amount of price movement the x s illustrate rising prices while o s represent a falling price technical analysts still utilize concepts such as support and resistance as well as other patterns when viewing p f charts some argue that support and resistance levels as well as breakouts are more clearly defined on a p f chart since it filters out tiny price movements and is less susceptible to false breakouts 