Point and figure charts are relatively new to me but appear to be the next step in understanding supply and demand levels. For those who do not follow point and figure charts Im using a 30 pip box size with a 2 box reversal meaning that for price to reverse it would have to climb by 60 pips to print a new column of Xs. For price to stay on present course of decline a new O will appear with a further 30 pip decline that is present on the new day. Price appears to be setting up for a decline - but can only be verified once we break below present support with another O.