points

Points are multi-bar patterns in bar charts (or they can be seen in line charts, formed by sequences of tops and bottoms) that taper from left to right. Usually they are horizontal, like an arrowhead pointing to the right. At least, the horizontal ones are easy to spot. Points can also point down, or up ... and, I suppose, they often do, it's just that it's a little harder to see them then ... maybe.

I believe points can be expected to conclude in actual sharp tips, meaning that the last bar, at a certain point (the pun is inescapable ... and perhaps meaningful, inasmuch as it points to - sorry - the relationship between chart patterns and moments in time), is a very short one ... and centered in the point pattern. (The latter observation is somewhat arbitrary. Very short bars could be viewed as being possibly significant. It is just that a very short bar centered in a point pattern does put a sharp tip on the pattern.)

It seems to be true that points are often followed by sharp moves, short term price change. They also seem to be associated with the initiation of more durable price change trend, but not in as definite a way as might be supposed. It's one of those situations where we will probably want to study as many examples as we possibly can, in as disciplined a way as we possibly can.