GKP - Research

Ok Jacko, in true ladylike manner, I've changed my mind again. I've had a bit of time this afternoon and spent a fair proportion looking at this chart.

My conclusion is as follows.....

screencast.com/t/o2DjT4EW

So as to avoid any mishaps and confusion I'm only posting this link.... from ( B ) we go skyward to those fluffy clouds of which dreams are made ....... I, and thousands of other PI's, hope . If you really want me to ramp it up I go for £8

Sorry Jackozy, the correct chart is the link; think I'm gonna give up trying to post the 'pretty picture' version as it always appears to pick up an older version of the same chart?? Not only that but it never expands sufficiently to make it viable.
Diver

Hi Diver,

I've just been looking again at your wave count posted earlier and I notice that the link has a different count from the chart. Which one are you running with at the moment please?

OK, here's how I see the corrective move from 450p:



dl.dropbox.com/u/20815047/GKPcorrectioncount19_02_13.gif

It makse sense to me for the severity of the zigzag down to 141p to be balanced by a bullish flat. It also makes sense that the correction is at least a double three (possibly a triple three) as the drop was so fast that it really needed extending timewise.

I had previously thought that all wave Cs must consist of 5 subwaves but I've since discovered that they can have the corrective form only when they're in wave W, Y or Z positions (they can also be triangles but only as the last move of a double or triple three and there's clerly no triangle anyway).

Remo, you could be right about that slightly lower low....but...that would make for a very small wave C in comparison to the same degree wave A, no? It would also suggest a wave C with only 3 subwaves which isn't right (unless it's a wave W, Y or Z)

Diver, yes, it seems our recent views coincide however, I note that you (and Wreckless Eric too it seems) are counting the move down from 450p to 141p as a wave A down implying a low much lower than 141p to come later on. I have 141p as the low of a wave W with wave Y ending at on orthodox low (not a price low) at 161p. I'll try and post a chart showing this later on.

Wreckless Eric, I think most of us seem to be in agreement that it's shaping up for a move to the gap at 339p in the coming months. You're also expecting that to be followed by a retrace below 141p if I read you post correctly? That might finally break the backs of all the long term fundamentalists if it were to happen!

Hi diver 993,

Looking at your longerterm chart, I see a 3,3,3,3,3 (EW 5x3 diverging formation) since the 141 breakout

The present final 2 of final 3 may well be lower before the final up ? (280 - 320 ?)

141 - 320? Being wave B ? With final wave C down to come,imo

Good luck to all traders and longterm holders in Gkp, it,s going to get volatile as Remo says

Please make your own minds up, from a cool Korea have a good day.