My stop loss which I raised last night at 98p did not get setup to later on I guess. That is good and bad though.

Always buy at a support. Sounds like good advise, now is the rule gold or can it be +- a little bit? e.g. if the support is 800p could you put a buy in for 801p or 799p?

Remo would 100p be an important level therefore 98p would that be logical, am I wrong to conclude that?

Thanks for all the advise so far.

Wise words from the Master Mouse lol!

There is so much resistance ahead on this stock now that it is very unlikely to run away. 143/4p is a major barrier as shown on remos chart and remember, it had a LOT of volume in that gap down. Remember also the gap down from 230p on massive volume? Went it went to test that later, it didn't even manage to close it properly there were so many sells/shorts just below it and it's never managed to close above 230p since. That's the power of high volume gaps. Look at BLVN 53p for another (and check the volume). 143p will almost certainly be heavily defended by the shorts placed there imho.

You cannot fight the Big Money and win.

People always think that the share price is going to run away from the current price.
When a share is rising its best to wait for the reversal.
What goes up must come down.
If shares just kept going higher then everyone would be millionaires
Just look at any chart of any share. You can clearly see prices go sideways , go up, go down. There the three states of a share.
sideways markets are the hardest to trade. Should be avoided... To risky on stoplosses..
Up trends...The easiest to trade as you are going with the trend if your long.
Down markets...Also easy to trade as long as your short..... Most people will be looking to go long in this market and get burnt to crisp.Going against the trend.

So bottom line is: Always go with the trend..
Trends can be drawn by trend lines or moving averages so people should learn this first.

livenow; yes, looks like 203-87-450-current is Primary wave II (well done to wavesurfer and others who thought this - i didn't!). It could still go lower but there's a chance of a higher low being put in today.

MtM; I'm afraid your stop probably got hit this morning as it dropped through 100p (probably a move specifically to hit stops just below that 100p level). The subsequent bounce suggests a higher low *may* be being put in today. Needs to follow through tomorrow with a candle that has a higher low and a higher high and then a break above 110p. Even then it's not really a clear 123-low breakout as the initial bounce high isn't obvious on the daily.

Its such a simple thing to do but most people dont do it. People use emotions to trade and hence there bad trades. Its easier said than done..lol
manfrombrussels wrote:

"Always Buy at support and nothing else."

Some great advice on here, but I am going write this down where I can see it most days.

Hi Minethemoney
why did you put the stop at 98?????...Cant see the reason for this level.
Stops should always be placed below a support level. From current levels the nearest support is at 86 so the stops should go just below this level.Maybe 84...
As for the gap getting filled...Its always possible but gaps can some times take years to fill. There is also a gap at 53.75 so there is gaps that can be filled in both ways. The higher gap at 143 will be strong resistance now as this has 2 levels of resistance together so will be a stumbling block for GKP.A good area to short this on a first attempt.Also 126 is strong resistance as well as that level has history.
The green light for GKP will come once a 123 low forms and higher highs follow. This has not had one for a while now so thats what you should be looking for before buying ..
If you like a share, then the only place you ever buy into the company is at a support level. Dont buy at any other level,by doing this you are buying with the crowd of technicians so your odds are better.
Most beginners will just buy at any price then they will argue the point from a fundamental perspective.
Always Buy at support and nothing else.


dl.dropboxusercontent.com/u/4899609/gkp27thmarch2014.png

Support: 86,,,64,,,53.75(gap)
Reistance: 126,,,143(gap)

Hi Jackozy,

No you weren't patronizing in at all, constructive criticism.

I have paid for a premium account as you suggested and will at some point sell GKP at a break even or small loss.

I have placed a stop loss at 98p this is likely to get taken out tomorrow looking at my amateur chart. Do you think the gap won't get filled? The MACD is turning positive and the RSI is still oversold. Technically this must count for something?

http://imageshack.com/a/img23/5747/gq19.jpg[IMG][IMG]imageshack.com/a/img23/5747/gq19.jpg[IMG]

Hi Jacko.. would be grateful for your view on this "drop from 450 " . Is this the completion of wave 2 of the EWT ? and that you expect a primary wave 3 to start sometime soon and go higher than 450 ? i remember you had mentioned ~ 700p some stage.. is that number still valid from EWT perspective or has it been negated due to the huge fall in the sp. thanks a lot.

Hi MtM,

You're welcome and I apologise if I was patronising in any way - certainly wasn't my intention.

Your stop just below 100p makes sense from a risk averse point of view due to Friday's and Monday's lows (and yesterday's inside bar) but there's a fair chance you could get taken out in the formation of a higher low. Better to have stops below 86p but that depends on your positions size and attitude to risk.

Given that inside bar, the key short term levels are 100p and 110p though trading breaks of those levels ought to be treated on a short term basis. There is no buy signal on this stock at current levels (and I suspect it has some time yet to go before there will be one).

Resistances: 120p, 127p, 134p (Fib), 138/44p (gap).

Supports: 86p, 64p (I don't think we want to consider lower do we?)

I do think this is either at the end of, or near the end of, the big drop from 450p but that's based on my interpretation of the waves. Technically it's really not in a good way at all imho.

PS I did used to post on III under this name but never on those BBs.

Thank you jackozy for the advise.

I kind of went in head first with GKP getting a feel for things but yeah my buy in was at a bad point and I was unsure where to place my stop thought about 99p just below 100p. I could do with learning where to place my stop so will do some research.

I seem to remember a Jackozy from the either KAZ or XTA iii board, did you use to knock around there?

you should see the chartsview user name and not facebook.
unless there is a bug im not aware off..
manfrombrussels wrote:

Thanks for the responses guys.

I can sum up my position re all this by saying, 'I pick well, but trade badly' so obviously I have belief in fundamentals but also in TA.

GKP is an odd one for me to comment on as percentage wise I am a long way up, having picked it up a long time ago on its fundamentals. However, had I had using a decent trading strategy backed by TA I would be a lot further ahead.

Maybe fundamentals come more into play when buying exploration stocks than companies like Kingfisher.

Interesting subject.

(off topic, I notice the live chat 'who's online', looks intriguing. If I log on with google or facebook you'll see the real me or my chartsview username? )

Hi MFB,

It's a difficult question to answer imho. I'm certain you don't need to know anything about fundamentals to be able to make money in the markets, but equally if you're good at the fundies then you can do the same a la Mr Buffett though you probably need a much longer term view.

Question: how has knowing GKP's fundamentals helped anyone make money on this share in 4.5 years?

As another example, Kingfisher Group is on remo's share tips as a possible short this week. It announced results today of approx 4.1% increase in sales, revenue, profit or something or other. That's fundamentally good news, right? However, unless it closes above 421p the stock will almost certainly drop. It could be making an exhaustion candle as I type (we have to wait and ee where it closes).

Both fundamentals and TA have their place in the market but they are not to be confused. Often news, whether good or bad, gets sold into. Sometimes TA predicts a price move and then news comes along to make it happen. Sometimes you get big price moves with no news at all (though investors will usually seek to justify such price moves through some vague and largely irrelevant snippet from an obscure blog).

The market is the market and there's no point in saying that a share *ought* to go up because the fundamentals are good. It just doesn't often work like that.

I remember a III poster called stopthismadness saying once: the only fundamental factors which affect share price movement over anything but the short term are company game changers (eg a new oil discovery in Aug 2009 lol). Everything else just provides a trading opportunity. Another way of looking at this is the "efficient market" theory: all the complexities of the fundamentals are already priced in to the market. You therefore don't need to know them. All you need is to be able to read the price history to see whether the company is fundamentally on the up or on the down. It's much easier to interpret one variable than hundreds.

Just my view. It's very difficult to effectively trade a share whose fundamentals you know. Fundies give you a bias which may not be apparent in the price action.

No. Fundamentals inform you about the company. This has nothing whatsoever to do with trading. Trading is predicting the 'herd mentality'. What will the majority do? Nothing more.

If you're talking about long term investment then maybe fundamentals come into the mix, but not for trading.

All just my opinion of course.

If you are good at working out the fundamentals, and can predict a general long term long/short status for a share, then does that give you a head start on the technical side?

I can only echo 1000% what Jackozy has said - great advice mate!

Separately, GKP has been listed to the main FTSE 100 this morning.......
pdf.reuters.com/Regnews/regnews.asp?i=43...:20140325:nRSY0652Da

Hi Mine the Money,

Well, you've come to the right place if you want to learn about trading!

The best advise I can give you is to keep it simple and stick to the rules. And I mean STICK TO THE RULES. There is ZERO room for hope and expectation in trading (something I'm still struggling with) and only a clinical approach will have a chance of winning.

To that end, I strongly advise that you look each week at remo's share tips (see tab above - you may need to subscribe to access it but it's worth every penny 1000 times over imho) and see how simple trading strategies can reap their rewards.

A good example: you'll note if you look that GKP almost never appears in remo's tips. Why? Because it's very rarely at a key trading level (it's mostly a sideways moving share which will take your money every time). With all due respect, your 106p entry is technically in the middle of nowhere and your support at 95p the same. This share should only be entered now on a 123-low basis (see the learning section of CV) or on a drop to the next support at 64-67p. The gap at 138-144p may well get filled but, imho, that is a clear sell area.

You'll also find that most, if not all, the successful traders on here know next to nothing about fundamentals (and care even less probably). This becomes even more relevant the shorter the timescales you want to trade.

Finally, if you've been drawn to trading because you've been burnt by GKP's price history then can I urge you to be very careful. Trading is not easy (though the PIs on III will tell you that it is and that they're responsible for what's happened). It takes a lot of work and discipline and you must be able to deal with failure (losses) on a regular basis. Strict money management is absolutely critical.

Even then, when you've learnt all about TA and money management, you still need to be able to make good decisions. Like any top class sports person, training is key but you still need to be able to perform in the high pressure environment of competition or to play what's in front of you and not what you learnt on the training pitch. Nobody ever won a gold medal in training so I urge you to open a demo account and practice in the semi-real world. Even pretend £s will focus your attention and show you that it really isn't as simple as taking candy from a baby.

Good luck with your venture and please keep us informed as to how you progress. We are all still learning and sometimes it's good to go back to roots and re-learn the basics

Hi guys,

GKP has held at support of 100p today which seems is good. I believe GKP is been listed tomorrow onto the FTSE 100 so all we can do is cross all thing possible and hope for the best.

Anyone else feel the gap at 139.83-143 need to be filled?

I have opened an account with TD direct investing on sunday because I wanted to dabble in short term trading and HSBC dont do stop losses and limit etc.

I did buy some GKP at 106.7p this morning with a stop loss at 95p . I am really new to short term trading so it is going to be a steep learning curve for me.

Any suggestions or pointers would be most appreciated even if it means heavily criticizing me I want to learn.

thanks Remo. bought a handfull at 103-104 today. Agree about 87 retest will not be a good sign.
hoping that Tuesday it will list and TK/JG/EA will be shown door very soon ( withing couple of weeks would be great ) ..
As long as M&G4 are on board , gives me comfort.

Though i will be bailing out of these ones at 140 levels when & if it reaches there ( subject to my holding period restrictions )

As predicted...
Now comes the interesting bit...
If gkp tests 87 again...don't go long. 87 was only ever good for the first attempt so make certain you don't go long if this level gets tested again. A second attempt now would be dangerous and if that level goes then this could really drop ...so care should be given now...
Good luck....
Trade smart.
remo wrote:

well that 87p that jacko and i discussed some 9 months back finally arrived. break of 134, 112 ,103, 97, 87 - 87 must hold or 67/54 p is next up.

good bounce from 87p, needs to hold 102 > 112 n take out 121 for higher. no break no higher.

no emotion - just price

in the end reverted back to original projections, chart updated to reflect that and with this move down the structure of the whole move looks much more better. however if indeed this is the low then we should expect a decent move up over time. this has lot of work to do and prices to get abv




dl.dropboxusercontent.com/u/40497882/Gul...20%28DFB%29Mar21.png

good luck to those invested in this company.

all imho, dyor.

rgds WS

not today. May buy a handful tomorrow if things look stable.

I bought in at 89p, and 94p too today.....
I wanted to sell HOIL when it reached 270s, as I was down only 650£ on my oldest holding.. if I did, I would have had around 18K £ to buy in GKP today...damn

Shotry wrote:
Be interesting to hear if anyone was actually able to buy in the high 80s or low 90s - or in fact whether you would have wanted to? The RNS wording and timing was abysmal to say the least.

Go check your charts, both 96/97 and then 87 (in fact 86p) have been met.

Wow !! Todd Kozl and his cronies continue to shock even more.. What a incompetent bunch .. finance still not sorted and even RBL couldn't be arranged.. Entire ID 2013 was a bunch a lies and "pie in the sky " circus.

Even i am gobsmacked by today's news on funding.. and the fact that they wont reach 66,000 BOPD till Q1 2016.

I can only hope and pray that Todd , Ewen & John G are fired ASAP.. M&G needs to get an EGM called soon and put these incompetent BOD out of the company.

Hello Everyone,

Hope your all well. Been a long time since I was on iii charts view. I am too keeping my eye on the 87p level if it does not close above 130p as it seems to of tested it but failed to close above it.

imageshack.com/i/mri72kp

I love the bulletin boards as they are an excellent source of humour and a great insight into the human condition:)

remo , i am done with the main iii board.. it is just a slanging match there now a days.

Though the reading of posts still make me laugh hilariously at some of the frankly delusional stuff written there..

Bear in mind that most of the people on iii gkp board are kids..They are young and not too mature. So you gonna get a bit of I know what's best over there..With trading , it's all down to experience . You guys have been doing this for a while so the knowledge is there.

Hi Jacko/Remo, thank you guys for your post and the wishes.. All well here and i have been watching the train Wreck which is GKP unravel so spectacularly.. I think BOD has witheld info , specially SH6 and some of their actions in past few years definitely deserve an FSA or criminal investigation ..

As for the Blinkered , Cult on the main board. - they are beyond help.. Even today they fanatically cling to the BOD and come up with theories to suit their belief..

will buy a little bit today and then see how it goes in next few days.. I am sincerely hoping that GKP gets funding sorted and lists on main board on 24th .. If it doesnt, then your 87p target will be looking positively bullish..

eagerly waiting for gramacho's write up too..

Hi livenow,

All well and good here thanks. Hope you are too?

Not much to add that hasn't been covered already. 87p is important but failing that there's 64p and I won't mention the gaps below that lol

As for the III BB - if you poke a hornet's nest you're gonna get a reaction and nothing upsets the faithful more than a dose of reality. Cults are not known for their objectivity so the only sensible place to be is, of course, Chartsview!

I remember way back in Oct/Nov 2012 saying that a return to 87p was a possibility based on wave analysis after the bounce from 141p and failure at 260p. It didn't go down well on III at the time as you can imagine but then again, I really didn't believe it myself either (I mean, technically it was possible but I never thought the company management would construe events to allow it). Just shows the power of the charts and the importance of patience and confirmation. Lessons we all know well enough but still find hard to follow, me included.

And worse to think of the spectacular gains to have been had elsewhere for those that held all the way through.

FWIW, I think that the publication of the CPR could well be the final nail in the For Sale sign's erection. For Mr Kozel's sake I hope so because I can't see him getting re-elected as a director of the company at the next AGM. Can you?

Right, I'm off to see if Gramacho wrote up his CPR review and revealed just how much information about the OWC and other important operational detail was withheld from investors. Have a nice day!

Hi stranger ...lol...I've not seen your post for yonks ... Hope you are doing well.
As for gkp.....well the best place to go long is 87. It all depends on your risk. If you believe in the company then do what is right for you.This current area is a psychological area ...a break and finish below 1 pound would not go down to well ..but 87 is strong support and I'd be shocked if that level does not hold.
GKP still,have oil,in the ground so can't be all, bad...lol


livenow wrote:

Hi remo, hope you are doing well.. GKP has been a great roller coaster.. i have been completely absent from main board since feb . I sold a lot of GKP between 155 - 160 mark and luckily i have kept it in cash rather than immideatly reinvesting in SXX.

Do you reckon GKP will go down to 87p ? wondering if I should buy a little bit here at 103 and then see how it goes..

Good to see that Todd Kozel & his cronies have proved me right cannot believe how much abuse i got from the usual delusional crowd on there .. And still amazed at how those folks are clinging on to their delusions.. Ah well , atleast they cannot say that the sp is now 103 because of a boiler room , paid basher like me


Jacko : hope you are well too sir.. and will be good to hear your views too..

As predicted...This seems to happen a lot with shares....lol

remo wrote:

Sounds about right b77 though I'm not sure that it's driven by the MM's per se.

There's no real problem with 87p or even 64p getting hit in terms of EWT - as you know, we can always fit counts in retrospectively

It had been documented that this week would see a significant move and we got just that. It wasn't what we all wanted but we're accustomed to that aren't we?

Apart from the spectacular success of Mr John Gerstenlaur and his ops team this whole shebang has been an unmitigated disaster imho. Not the only one on AIM, however. But then again, why would IIs risk AIM when they've been able to generate 300-500% returns in FTSE listed stocks in the last 15 months alone?

Oh well, onwards and upwards as they say. Or not, as the case may be

Surprisingly quiet here given the swings on GKP and a Friday finish almost right on a support.

I'm guessing that MMs will take this down on Monday morning. Am I right in thinking that a close below 102.5p and our old friend 87p comes into play?

How might that fit with EW count?

its amazing how so many people have had different price fills.
They seem a tad dodgy. I cant believe it takes this long to fill the stoploss considering most things are automated.
strange ...

Remo,

I was in at 143.86 to be precise. My stop got executed at 8:42 today. I might look at Saxo Bank instead of IG. I know there could be similar issues, but having a separate option sounds good to me.

Regards

Yeah I was slipped by IG too. Stop at 138 however it was closed (by IG) at 124. It happens unfortunately, cost of doing business without guaranteed stops. What was interesting was another position I had a stop at 137 which was closed at 137. Guessing price jumped down and IG executed at the next available price which after the auction was 124.

M.

this is probably the move gkp needed imo, in any case..... today's low approx 102.6 ties in perfectly with the 78% fib ratio from the highs of 450 to 4.4p





dl.dropboxusercontent.com/u/40497882/Gul...0Ltd%20%28DFB%29.png

rgds WS

my mate got his taken out at 128...He got his stopped out around 8.20am
so you are really unlucky. IG do screw people over.
what time did your one get taken out???
and when did you enter as the spread bet did not go to 143 if i remember correctly??

I had a long GKP spreadbet position from 143p with a 10pt stop (not guaranteed). My position was £20 per point. My position got closed this morning at 111p and not somewhere close to 130p as I would have expected. I have looked at the IG charts and there seems to be trades from 138p and downwards this morning. I will be writing to IG for confirmation, however is this peoples experience and given the large drop this is expected? It is just the first time it has happened to me.

Thanks

yep...87 is the area that could get targeted .
This down turn is not over for gkp . So best not to top up from current levels. Just wait for a 123 low to form to give you the green light. The best level to go long on GKP now is 87 on a first attempt basis.
This had an evil gap down today. ive noticed when shares do a bit of recovery and leaves a long tail after a gap down there could be a chance that the low of the tail could get tested over the next few days. So dont rush and buy. Just wait for a good support level if you wanted to buy and that level is 87 but you still need to have a stop in place.


dl.dropboxusercontent.com/u/4899609/gkp13thmarch2014.png

Where to now? 87p?

www.investegate.co.uk/gulf-keystone-petr...201403130701092123C/

Uhmmm....not sure that's what investors were expecting...

Cheers Remo posts crossing as I typed ....


Tight Lines

Just answered it myself I think, if we are lower today then we must be still in wave 2 and wave 3 is to come as long as 143 does not get taken out.

Yep its still in play but will be invalid if the price goes below 143.
The buy signal has not come yet so should be sitting on the side fence for the time being.


dl.dropboxusercontent.com/u/4899609/gkp11thmarch2014.png