* The DI(+) saw off a strong strong challenge from DI(-), other technicals support continued upward momentum, whilst volumes are increasing (but remain relatively low). It could have legs to ~ 80p as the first point of resistance.


* Indeed that is a Harami. Very rare. Good spot by the much-maligned folks at "British bulls" (an oxymoron given the FTSE's under-performance relative to the S&P and DAX).

Disclaimer: Just my view folks - and not trading advice!

Good luck folks!

CC: POG iii Board.

Sorry...was in the share tips 2 weeks ago...
Nice breakout and then a back test followed.

This has already had a 123 low breakout..This happened last week.
This was in last weeks share tips I think.


Monkeyz wrote:

Possible 1-2-3 low entry above 77p on this one?



dl.dropboxusercontent.com/u/24866576/Dec...k%20PLC%20301213.png

M.

Thanks Remo

Shotry wrote: Hi shotry
The value of a head and shoulders pattern comes when it forms at the top of a trend and not at the bottom. When it appears at the bottom its likely to be a trading range or some thing similar. So there could be value in it but its most likely some thing else.
If it was an inverse head and shoulders then that has to be at the bottom of a trend.

Now with pog its best to look for a 123 low formation. This did have one back in july and that gave us a nice profit.Since then its come back down again. So chances are its in a sideways trend now and the level to keep an eye on is 88.If this can finish above that then this could head back to 135.

heres my chart...

dl.dropboxusercontent.com/u/4899609/pog24thoct.png

support...68(strong),,63
resistance...88,,127,,135,,137(gap)
hope that makes sence.

OK sorry Remo, of course it is so does that mean there is no value at all to the pattern? Obviously as a H&S it would be valid at the top of a rise but does it have any value here a the bottom?

Hi shotry
That's not an inverse head and shoulder....IHS is the opposite of a head and shoulders. Upside down basically.
Hope that makes sense.

screencast.com/t/K2aa0hSJt

I've just had a look at POG. I entered this morning at 78.8 having already held a position with an average around 80 so no strategic advantage wrt bringing my SP down, but once the short trerm triangle pattern was invalidated by move up beyond a retest of it's lower trendline I was comfortable buying more based on indicators (notably MACD on daily/4h/1h).

Just wanted to open up the possibility of an iH&S pattern on the daily chart (not activated) for discussion. I've annotated the chart in some detail for discussion and would love other views on it.

Thanks

Fats

I almost pressed buy at 69p, then chickend out...
It was worth the risk..may b lol

sure RRS will be up atleast 500p tomorrow.... jeez....

Good luck to tall

ta
G

So, with gold sitting at 1365.1 as i type - it could be more by the time I've finished - is there anyone who could hazard a guess at what this might open at tomorrow morning??

How about 91 as a starter??

Happy days

Anne

ps - it's now climbed to 1366.6 - this is soooo exciting!!

Best level now to enter this on a quick trade would be on a first attempt basis at 63.
You have to use tight stops on this. may be 3 points. If 63 was breached then this could go a lot lower.So hence the tight stops. 63 level should bounce on a first attempt basis and im hoping that it could form a double bottom(hope). This is for the short term so bear that in mind.


dl.dropboxusercontent.com/u/4899609/pog18thsept.png

it is fundamentally on a rocky road, so picking a trade on fundies would be difficult, I don't think I could invest in it based purely on fundamentals, but that is just me, I am not a trader Good luck with your research and decision.

Not sure where POG is heading now...
Currenly gold is at 1293$.

ta
G

Possible long entry on a back test of breakout point on a first attempt basis.
106.75 is the level to watch for a quick bounce on a first attempt basis.


dl.dropboxusercontent.com/u/4899609/pog29thaug.png

Moiz wrote:
Hi moiz
Once 107 was breached it did not have much resistance above until 140ish. So the powerful move was no surprise .Also the fact that we have had a 123 low added to the signal.When a trend change happens it normally happens like this. That's the added benefit of charts.
I don't really get surprised by moves any more. Pog had a nice rally on the back of gold.If you look at all the gold miner I bet they all went up quickly. Rand gold has also moved high.

POG is at a very strong range of resistance between 120p to 146p.

Needs to break this for higher prices.

Please find the attached chart.

ta
G
dl.dropboxusercontent.com/u/48916784/POG-19.08.2013-Daily.jpg

Remo

Quick question if I may, did you anticipate such a strong up move, 20% it didn't even pause for breath.

Thanks for the TA and heads up.

This is also above the ichimuku cloud. So bullish....This should hopefully be the start of a new uptrend.


Id be looking to take profits around the 137 mark on first attempt

107 broken... if it stays above then this could go to 140ish...

Libero wrote:
Hi libero
Igmarkets has a new charting software...metatrader 4. I think it's used for currency.
I've not used it but I know it's available for all clients of ig. I'm sure it's better than the crap there using currently.
You need to activate it from the settings screen.
As long as its working for you then great . I've used ig charts a long time ago and it cost me a lot of trades.
I'm sure they must have improved from the days when I was using them...
you can always try out the free 2 months offer of metastock pro .Thats more than enough time to tell if it's for you or not.

remo wrote:
That is because I'm using the cheapest most rubbish package out there... IG markets!

And yet, oddly enough it is "working" insofar's producing some decent trades.

I know that eventually I'll have to step up to Metastock or Updata et al, but I'm putting it off because I want to justify the outlay by using these marquee packages properly, and at the moment things are so hectic that there's simply not enough time.

Roll on Q4.

Libero wrote:

thats some discrepancies ....what charting package are you using???

Technically, POG has done a number of things today:



1. Broke out of the 1-2-3 Low

2. Broke out (and how) of the descending wedge (a bullish signal).

3. The MACD is ticking up slowly but nicely.

4. The DMI is looking good too, with the DI+ crossing upwards against the DI-. The trend is weaker on the daily, but this will not negate a bullish run.

5. A finish about a moderately strong resistance point (~99) would be nice!

---

What remains puzzling, are the descrepancies between charts... Whose data is the most accurate? I think I know the answer to that one!

Hi paitech
My first target is 107...If that breaks then this could really take off.
if 106 goes then the next target is 140 . There is resistance around 110 mark as well.

Hi Remo,

what target do you have in mind for POG.

If I didnt get out at 91p, this morning, I would have got out at 99p.

ta
G

Thanks remo.

I did go long at 79p, and out this morning at 91p.

I was in with 20£/pip.

Please find my chart and reason to get out at 91p...

Thanks
Kind Regards
G

Hi Paitech
Im still long on this. My stop is below the 2 point...It was close to bailing me out but luckily it bounced
I went long at 85 originally but added to it when i saw the hammer as the rsi started to point up as well then so took the plunge.

Hi Remo,

Appologies if its a wrong q to ask...

What price did you go long and what was your stop loss.
The reason being, I was watching this, and I guess it would have hit your stoploss, then now i see its gone back up to the level you might have mentioned to go long...
Appologies again if its not a right way to ask...

ta
G

This is testing the breakout point.
ive gone long on this with a tight stop
this is from this weeks share tips.


dl.dropboxusercontent.com/u/4899609/pog2ndaug.png

Paitech wrote:
Well Paitech, you must be even happier today



Looking good, and is the MACD hinting towards further upside I wonder?

Furthermore, not sure if the successive candles qualify as soldiers?

Good luck folks!

This seems to have broken out of 1-2-3...
lets see how it goes tomorrow.. ta
G

I'm starting to like this again now




I'll be looking out for the 85+ finish, but there's a bit of caution because of Gold!


Now, whether my chart lines can be classified as a developing falling wedge, I'll leaving that to CV patrons better than me

Anyway, will look to go long with a stop.

Good luck folks!

A finish above 85 should give you the 123 low break out.Stops would then be below 69.5 so roughly 16 points. Percentage terms quite high.




dl.dropboxusercontent.com/u/4899609/pog18thjuly.png

Has it done a 1-2-3 break out? I was looking to go long at sub 65p.

Any comments? ta
G

I am not sure where this is heading now... thought 80p was a good price..

Now seems even 49~50p?

ta
G

I am not convinced that TA can help here.
The Gold price has driven it down to a point, but the business model is now to be considered, I think it is no longer a viable concern, hence the continuous drops.

I don't think it is to be trended and assessed, in terms of technicals but, you never know

Hi Paitech,

Looks that way to me but if 80p goes then who knows where it'll stop.

Why don't you have a go at a chart yourself? You've got the 80p support so come on - have a go!

Hi all,

Is this POG heading for 80p? an updated comment and chart would be much appreciated.

ta
G

This is doing nicely today after a return to the short term trendline and bodes well for a trend change if it can break 142.4p as there will have been consecutive higher lows and higher highs:



dl.dropboxusercontent.com/u/20815047/FTS...POGdaily07_06_13.gif

Note how the doji from earlier caused the resistance at 142.4p which I missed last time round - nice price action telling us it was a key level hence the resistance a few days ago.

Hi paitech
This has already given the signal on the 123 low breakout.Stops should be below the 2 point(120.6).


Ignore the last candle on my chart as its a bug.

dl.dropboxusercontent.com/u/4899609/pog4thjune.png

This has been in a nasty down trend for some time now and the 123 low was the first green light this share has had since £4. So by following the 123 low signal method you should not have topped up on the way down until now maybe. With any new position you should still have a stop in place as the risk is still there.This is a way to cut down on emotion.


dl.dropboxusercontent.com/u/4899609/pog4thjunelong.png

for strength to come this has to breakout above 164 level. Then you could possibly say that its in a new uptrend and not just a correction????/

Hi Remo,

Whats your take on this one.. is it still following 1 2 3 pattern ?

ta
G

possible 123 low breakout????
Its happening right now.
Ive gone long on this now and my stops are below 120.
This also sneaked above the down trend line recently. I say sneak as it went sideways.
Stops are a must.

From highs of 1700 this is almost in the dust at current prices. Sure can't go much lower as a 100% fib extension on current action shows an SP of -(minus)5.3p

Maybe a squint at some 'fundies' would be in order?

Sorry, forgot to add the chart as well as the link:

Just updated this on the blog section.

There appears to be a higher low and a short term trendline break following that hammer so a close above 135p would now create a higher high and possibly target the 154p resistance:

dl.dropboxusercontent.com/u/20815047/FTS...POGdaily29_05_13.gif

Close up on the daily chart shows gap down, hammer, gap up:



dl.dropboxusercontent.com/u/20815047/POGdaily21_05_13a.gif

There are also RSI, MACD and OBV divergences on the 4H chart:



dl.dropboxusercontent.com/u/20815047/POG4H21_05_13.gif

Just FYI. Still best to wait for a 123-low entry after that downtrend.

Whether or not that was a head and shoulders, Shotry, your call of 117p was pretty good as it formed a hammer there today:



dl.dropboxusercontent.com/u/20815047/POGdaily20_05_13.gif

I posted previously about a long ago support from 123p in early Feb 2003, and there was another at 117.5p just before that. As remo said, the best play on this is to wait for a 123-low. The more risky option is to enter now (or at about 122/3p if you can get it) with a stop below that 116p low from today.

It's not far to the shorter term downtrend which was at 137.9p today (it'll be lower tomorrow) so that's another level to look out for in the next day or two.

There are gaps from late 2002 at 111p and 107.5p. Are these supports still valid from so long ago?

Shotry wrote:
hi shotry
head and shoulders has to come at the top of a trend
This is not a head and shoulders

I should have said H&S, not iH&S. Sorry.