How to use Point and Figure charts in ForexPoint and figure charts eliminate noise and time. Hence I find them highly beneficial.
On how better to use them I recommend to refer to Neil Callard of 8 dragons capital (for forex) or Du Plessis manual on Point and Figure (meant for stocks however).
In forex we use 1 box reversal pnf charts. In stocks it is common to use 3 box reversal charts.
I prefer to use pnf charts based on close instead of highs and lows, as Callard teaches.
You can add MACD candles over and some Moving averages or Ichimoku to have a better picture what is going on.
Pnf charts generate great break out signals, especially at Frankfurt - London and New York opens. They are the best to catch breakouts.
For Pnf signals please refer to Neil Callard teachings.
I wish yoy success in your trading and a happy New Year! God bless!
