All Ords. Close, 1 Box PnF Chart Outlook.

Have we seen the worse with XAO ? According to this chart we may have. If we have, is the FLAT PRICE ACTION behaviour now on the horizon ? Possible and one likely scenario.

A bearish forecast from a CLOSE ONLY, Box Size 50 Points, 1 Box PnF Chart which is courtesy of StockCharts.com below. Why CLOSE ONLY chart ? Eliminate as much noise(price and time) as possible  and  focus on the most important price level (Close).

This does not override other forecasts published at the prior posts, but rather gives us another level to be mindful of. Mindful of what ? A HALT/STOP to the downtrend and a potential FLAT PRICE ACTION BEHAVIOUR thereafter.

All of my studies are on the chart in a most simplistic way.

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