GKP - Research

What is the view on GKP 'needing' to backtest 203-205p before further upward movement?

261.8 is a supposition; 161.8 is a necessity for it to be 5 waves impulsive. It also needs to have divergence between waves 3 and 5, otherwise it's not impulsive, so we will see. The last three days would definitely appear impulsive in their action.
Wave 4 would ideally be 38.2 of wave 3; and wave 5, I would love to be 1.618 of wave 4. These are not compulsory, merely idealistic, so are open to variation but, if they do, I just bet they vary in a fibo variation.
Have a good weekend over there mate. I just bet it's 'B' cold ....brrrrr!
Take care:)

Hi Diver.

Couple of questions for you: Why are you using the 261.8% Fib extension for your wave 3 target and how did you come by the 50p length for wave 5?

Genuine questions not criticisms...

Sorry, I give up.... you'll have to use the link as the insert file does not want to behave this evening:(

I'll get the right chart in a minute.....duh!