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Just watched this hour-long programme on Sky - channel Eden.
Featured a brief glimpse of some wild-life in Deadhorse at about 54 mins in - included v short video of a substantial oil-rig on the move. Brief, but quite interesting. Programme just finished but is now repeated on Eden+1 (channel 266) starting at 9pm. So relevant bit should be repeated at shortly after 9.50pm if you want to catch it.
ok jiddy.
In reply to Duc996 - 13:34
At this moment (13:57) the SP at 1.30 mid is fractionally above the T-line at 1.295. Not convincing then but if we get a further SP rise this afternoon if could be more so. Or a decent increase tomorrow perhaps.
Not that I trade the T-line according to Bigalow I hasten to add!
I defer to your expertise and for pointing out the error of my ways - a 60% gain in 2.5 months.
You are always right, oh wise one, and I am invariably wrong. Yours is the only method for TA - no other methodology stands comparison. A rather narrow-minded view in my opinion.
Personally, and as a retired medic, I wish you well in living your life with MS.
There is no need to reply to me, as I won't be reading it. Bye.
Brom - I agree 100% with your chartist son about the limitations of TA application to minnow oilers like 88e.
The one 88e signal which suits my style of medium- to long-term share trading (not derivatives) which has occurred in the last year or so was at the beginning of Nov 19.
After a longish period in a downtrend/doldrums, at this time on a single day a SP rise crossed up through the 10-dy, 20-dy and 50-dy simple moving averages Since then the price has gone up through the 200-dy average.
The very simplest form of TA then, and I apologise wholeheartedly to all for posting after the event !!
However if this sort of signal happens again, I will highlight the information here on the day that happens.
Stand by your beds folks!
Here is the chart - I hope you can view it.
https://i.postimg.cc/bvTBKScY/88e-chart-27-1-20.png
Cititilidie
There is of course tons of "advice" about charting/TA on the web, but one of the best sources of comprehensive information, which has stood the test of time is -
"Study Guide to Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance S) : John J. Murphy"
I note it is available from Amazon.
I am not on commission BTW, but have referred to it a lot.
Another reference source is Steve Nison's book on candlestick charting. A fascinating and readable text .
That's right csw12. Lefty never posts at the actual time he makes a trade.
I had quite a protracted discussion with him a couple of years ago about this, when I offered to monitor his next 10 "T-line" trades so that we all could see how successful or otherwise the approach might be. Offer not taken up, or even sensibly discussed.
Also there is software around which enables one to back-test charting strategies but this has not been done by Lefty, or published by his T-line mentor.
Although I do pay attention to charts when investing, I gave up on the issue with Lefkosia, and have since regarded his posts as a waste of time and space here I'm afraid!
csw12 - That summary to which you provided a link is the predominant view of most chartists. I have always gone along with it.
In his classical tome "Technical Analysis of the Financial Markets - A Comprehensive Guide to Trading Methods and Applications" John J Murphy makes these points :
1. Increasing volume indicate that the current price trend will probably continue.
2. Declining volume suggest that that the price trend may be changing.
3. Volume precedes price. Changing in buying or selling pressure are often detected in volume before price.
4. "On-balance volume" (OBV), or some variation thereof, can be used to more accurately measure the direction of volume pressure.
5. Increases in volume help confirm the resolution of price patterns or any other significant chart developments that signal the beginning of a new trend.
So that remains the view of most but not, it seems, of all - Fair enuff!
Yes Brom. Heavy vol day today. The biggest volume of this substantial SP rise over the last 5 trading days.
I do note though that today is the first day in that rise when the close has not been at the day's high. Not really then a classic "dark cloud cover" in candlestick TA terminology but it will be interesting to see if there is a bit of a SP fall tomorrow.
I wouldn't be too surprised - in fact I would be pleased to see it after the recent uptrend.
Really encouraging also to see that volume traded in the half-day today is greater than every past trading day for over a month.
That, plus the SP rise, looks rather promising I must say.
However, we may well get a few days' consolidation, marking time, at this new level. That would be good I think.
Just to highlight another TA signal - the resistance line that has formed in the last 7 months at ~1.17p has been breached this morning; let's hope it holds. Theoretically it should become a new support level.
But beware - IMO TA does not work as well with AIM, as with say FT-350 stocks, where I rely it on it quite a lot, especially P&F (Point and Figure) charts. No folks - don't ask, and don't worry, as I have no intention of doing a "Lefty" and discussing that at all on this board !!