Basic Point and Figure chart patterns: Support and resistance, trendlines, breakouts, bullish and bearish signals.

One of the most reliable Point and Figure chart patterns, Bull Traps occur when an upward breakout retreats back below the new support level.

Identify the cup and handle pattern on Point and Figure charts. Popularized by William J O'Neill (How To Make Money In Stocks).

Similar to Point and Figure bull and bear traps, false (or marginal) breaks occur at minor support levels (from a previous low) or minor resistance.

Retracements (or corrections), during a Point and Figure trend, tell us about the strength of the trend.

An upward Point and Figure spike is where a rally exceeds the previous column of Xs by at least 10 boxes.

After a Point and Figure up-trend, marginal new highs (especially where accompanied by equal or lower lows) indicate a loss of momentum.

For a valid Point and Figure triangle there must be at least two retracements counter to the prevailing trend.