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This is incredibly interesting; hugely informative and constructive. This is exactly why bb's can be so useful. That is why I am now cringing after venting anger at myself via the WSG board. I have averaged down continually with all my money there and believed and believed. I have only been trying to understand more how the system works using TA for about 3 weeks. Had I known now etc... I really could weep sometimes. I am going to go through all these posts again and try and crystallise a set of rules for myself that works for me (Moosh, I am not brave enough to buy into a falling market just yet but I hear you on the RSI. Trouble is, as you said last week or so, some company RSI dips are quick and fleeting). I would like to set you a challenge. Post here the moment you think PMO is turning). Bonkers also posted some really good stuff to me last night about the use of a combination of daily and weekly charts and a lot besides. Maybe some of you have forgotten or do not know that many here get recommended shares by a friend, have a look and buy straight away because they probably believe the bb's and don't want to loose out. TA to alot of people is a juju; a way to suck people into believing in self fulfilling prophecies. Going onto a bb and suggesting that buying before the RSI had fallen below 30 was madness would be ignored and not understood. M. your point about how wild west the bb's have become is true. Apart from my frustration with WSG (having fallen through 4 support lines in a row) I skim them until I see someone I have had experience of in the past. God loves a sinner.

People, many thanks for the discussion. I am at work with only a phone so will read all tonight. Thanks again.

CNR - weekly RSI is 15'is and daily two days ago was 18. I would suggest you would loose money?

Moosh, Scot, others, thanks for the reply. If you use LMI or PMO charts over the last couple of weeks, one could have bought numerous times with RSI under 30 (LMI is now at about 20 today). However, you would loose money every time. You could have bought PMO with an weekly RSI of 18 about mid December but you would be down 50% by now. You may counter that the RSI is a tool for traders and not investors but surely TA should provide help to point to pivot point in the absence of any asending trend lines i.e. LMI. Thanks on advance.

I have a couple of questions if anyone would like to assist. They are general questions but I am using a LMI monthly chart as a reference: http://rt0.e.prorealtime.com/ProRealTimeNew/display_chartimage.phtml?name=5b7vuag2iilxsz9vhkgeuvf2r&type=png&purpose=share_google 1)Is the gap A filled by the shadows from candles B and B? 2)I think this graph may be complicated by the fact that LMI had a consolidation recently (from memory??). However, the price seems to have 3 options from now, as arrowed. If there are no ascending trend lines to come to the rescue, how do you judge when this might have hit a bottom? I am hoping the answer is the following: using a monthly graph, one can see (or you can convince yourself) there are 5 increasing waves a la Elliot. From a limited read, it would suggest that 5 waves up will result in 5 waves down. Maybe. So does one try and spot the 5 waves down from December 2008 and then look for an upturn? How does one judge an inflection point here? Thanks for any responses in advance. NFL - I hope you are happy with this enquiry (and my others) and feel this site is the right place?

Scotlouie, AEO. Elliot wave ? http://rt0.e.prorealtime.com/ProRealTimeNew/display_chartimage.phtml?name=ygfiagn5iydao7cyfq3ued0op&type=png&purpose=share_google

Scotlouis, having a look at your AEO chart. Is the dip below that support at the RNS on a change of Director, 21st December a worry? From my view a finish this coming Friday of over 32p would set it up nicely with little other resistance

LEFKOSIA, PROX - I hope this will qualify for your page. I think it ticks all the boxes and has a bumper financial results RNS due in January. http://rt1.e.prorealtime.com/ProRealTimeNew/display_chartimage.phtml?name=enhnx50srijo8fugdrzt2qp0u&type=png&purpose=share_google

NFL, apologies. I got a bit confused this morning and posted my thanks to you on LEFKOSIA's board..... so here it is..."thanks so much for taking the time to post. There does not seem to be enough hours in the day these days. Thanks again". p.s. I was going to buy this morning but HL want 3.4p and the spread is over 14% at the mo. so will sit on my hands and observe. Thanks again

LEFKOSIA, thanks so much for taking the time to post. There does not seem to be enough hours in the day these days. Thanks again.

NFL - I was looking at your GDP shout and did the chart. I can see the bullish engulfing today and a nearly hammer but not quite 4 days ago. To me it has hit a yearly trend line today and bounced off it. I see the ema 8 is below the candle. So this is not a short? Otherwise I can't see the trade. Only trying to sharpen my charting skills and would appreciate any help?

LEK, thanks for all the links. I am saving them in my own T line file. Am at work now and only have phone but I think HOC is going near to a yearly trend line. From memory I think it needed to bounce off slightly below 43.5'ish. Tommy- I think STAR was one that Riddle had as a 2016 pick. Check back on his GC. Got into AERO early doors as had my eye on it since. It does however need to get back above that 5.7 line sharpish

doh. http://rt6.t.prorealtime.com/ProRealTimeNew/display_chartimage.phtml?name=77bbdxskw0j27p1x65q8kd8x6&type=png&purpose=share_google

LEFKOSIA, Question: in my WSG graph, I have circled what looks like an Evening Star. In your link to 12 trending candles, the definition of an evening star, it states that "The second candle is an indecisive formation". If the second candle is red, does the pattern still qualify as an Evening Star. (I recognise that the third and descending candle only just comes down around the 50% of the body of the first ascending candle and in a proper evening star the descending candle should be a bit lower)

LEFKOSIA, your Getech chart also shows some nice examples of bullish and bearish engulfing. http://rt1.e.prorealtime.com/ProRealTimeNew/display_chartimage.phtml?name=0kg42uog3zautuj339cyalfu4&type=png&purpose=share_google (I am doing charts with longest trendlines black through to yellow for daily lines)

Scot, Your comment about " The trick in TA is using something that works for you and learn in a way you want to completely understand". So, I have incorporated colour to differentiate the trends from different timescales. Black for year lines through to yellow for daily. In doing this I am making a newbie charting assumption that if there are several different colour trend lines in my chart focus, then I should be paying more weighting to the longer term time lines. See what you think: http://rt7.t.prorealtime.com/ProRealTimeNew/display_chartimage.phtml?name=t8zp8l2moi5ymal4e83zgkjzf&type=png&purpose=share_google

Scot, well.... this is a post I wrote to Bonkers on Hot Dogs GC (p.212) ref. LEK..... " if I draw a support line between 13/5/15 and 28/8/15, that would make the support line @ 16.25. How do you get 18's. Please. There is a v nice detailed reply from B there but the nub of it was that the previous wave started @ 17.50p as a horizontal support given the previous bounce to 29p (read the post it is intereting). As my charting career is a mere 3 weeks old I went with his analysis. I was also concerned about the descending wedge (see my chart on HD's).

Moosh, On the RSI theme, LEK has just dipped under the RSI zone. (just in case your comment on 'derampers who trash shares when the RSI is oversold' includes my post on ARS above, the post was because I had lost money on that company when they did, yet another, placement. They completely survive on placements and bigging up the potential reserves in the ground. As I stated, in 20+ years they have never produced one bar of copper or gold. I understand that AIM has now become a place for traders and longer term investors are a rarity these days but that should not negate people flagging up rogue companies to others).

NFL - ARS are the same company that used to be called Kalimantan Gold. These people have been talking about reserves of copper for over 20 years under the guise of several different companies. They have not taken any copper out of the ground in all that time and if ever there was a jam tomorrow company, it is they. I lost quite a chunk with Kalimantan Gold (as did Riddler at the same time). I have no doubt that this share may be good for a trade at some point (and that point may be now) but unless this leopard has changed its spots, they are people living a dream paid for by small time investors. Some research on the current company and its previous incarnations will show that production and profit is continually illusive.

AUE Recently had a massive placing so no immediate need for finance (however, there are issues of borrowing more money) Yesterdays candle was a doji EMA 8 seems to be on the line Prospect of commercial production in mid January which should give a bounce Did however dip to 4.38 on dilution news of 5p placement. Could douple dip to there?