GKP - Research

I've nailed my colours to the mast, closed my long and taken another small short at 150p with a stop just above the 61.8% Fib of 152.4. Reason? The drop from 159.5p looks like it could be wave 1 of 5 of C to me (yeah, I know - very small moves/timdeframes cannot be relied upon) but this is what I've been expecting anyway:



dl.dropboxusercontent.com/u/20815047/GKP15min17_05_13.gif

The move up from 140.5p doesn't "feel" bullish and looks more like a bear flag to me.

Could be wrong. Time will tell!

PS So far managed to gain 45 pips between 134 and 159 so not doing too bad for a change!

updated

dl.dropboxusercontent.com/u/40497882/gkp_17v2May.JPG

oh one other i forgot.... bull flag need to look at all things developing ....

assess based on price and action

dl.dropboxusercontent.com/u/40497882/gkp_17v1May.JPG

a few things:

bull view: 3 in 1 formation - cup n handle, inv H&S, acs tri needs to break n hold 147/148 area

bear view: 1st H&S neckline rejection, bear flag...

so up abv ~147 > 55 > 161 and down on break of 144 > 141 > 137

Cup and Handle? Would this indicate another attemt at the 155 or 161 area?

following on from previous post on inside bar - here's 15min view

see anything developing ?


dl.dropboxusercontent.com/u/40497882/gkp_17May.JPG