LNG Chart, page-259

Quality post Naish. In your last paragraph you have identified a significant part of what the holy grail is - consistent identification or reversal points.

There was some 'genius' on another forum who said that charting wasn't rocket science because if a stock goes up a lot then of course it's going to reverse. But do people like that make millions from trading those swings? No. Such a person buys at tops or at the very least doesn't sell when a stock becomes overextended because they really have no idea WHEN a stock is going to change direction ad don't want to be locked out of their dream company. This is why we have ultra high volume during upthrust - fools rushing in.

With good technical analysis skills and experience you can identify changes in direction more often than not. A significant edge here combined with good money management techniques results in windfall gains.