GKP - Research

This appears to have broken south from the symmetrical triangle.

My 15 min chart doesn't have that +ve div, WS. I'm wondering if this is a wave 4 triangle (I suspect you're thinking the same?), but maybe the drop to 140.5p was a bit far for that since a symmetrical triangle is a bullish pattern?

Only one way to find out!

Hi WaveSurfer
Are you predicting a likely move up?

yep - when i put that tri, it was just tentative as was just anticipating the move and at a level off the body of candle due to weight of that price area that time.....

you are correct to now connect the highs of the upper TL of the tri....so now a perfect tri has formed and now it's coiling and boiling... the edge to reposition will come when it breaks n holds now, unless you want to trade the squiggles inside..its getting tighter...

also current 15min had +div

dl.dropboxusercontent.com/u/40497882/gkp_20th%20mayv1.JPG






daily looks interesting...maybe one for this evening...

cheers WS

I can't pretend to understand what you're trying to say with that 15m chart, WS, but thanks anyway!

Here's my 15 min chart showing a similar triangle base, but with a different resistance:



dl.dropboxusercontent.com/u/20815047/GKP15min20_05_13.gif

I have triangle width as 19p (159.5-140.5) so that's the target from the breakout whichever way it goes, n'est-ce pas?

updated - have a great week all

155 big level - start of break down on 23 April(daily chart) to recent lows. no break no higher.

dl.dropboxusercontent.com/u/40497882/gkp_20th%20may.JPG