GKP - Research

...Anyway, I think it's gonna be a tease. I am tired, and as this is such a bugga - I have a feeling this will close on the 12th at 71.5p right on fib and descending resistance. No clues given! Ha,ha. I'm not looking at lower lows until after I see what happens on the 13th, and tomorrow with MOL 'cos if this pops it's gonna go crazy imo. Thought: Unless it pops before and comes down for backtest on 13th - hmmm, lots to think about.....



I think MOL interim's tomorrow will give a clue and, I'll look at downward projection then if its not good - as for now it looks bullish. There is clear divergence on chaos oscillator which helps define wave counts too and picking each wave out, 3 being significant. Also the beginning of bullish crossover of 12 day exponential m.a. and 34 day tunnel for me is very promising. I just have a feeling crunch time is gonna come and this is on a coiled spring. I could be completely wrong but it seems to me a perfect storm is brewing. If the 13th is a bloodbath, I will adjust targets accordingly and they won't be pretty.



Divergence on weekly too, plus above 12 day exponential m.a. too.




Not much more to add as I'm tired and am thinking only one way right now, maybe better with a fresh head. LOL!

Hi Diver,

Snap with the upward extension fibs - I've only got end of day for pro realtime and did this before closing candle appeared (takes 20 mins after the bell) - just having a proper look now. Been out with the kids for bonfire night.


screencast.com/t/BWMbvWGYotD

dl.dropboxusercontent.com/u/7238706/GKPhourly.png
This 1H chart completed a 3-way move from the low at 42.50 to 75.60 and then retraced 50% to 58.50. It is now pushing toward the 68.10 level, which it needs to break to continue the upward move started this morning and is illustrated by the green percentages.
The alternate is a breach of 58.50 and a move lower illustrated by the red percentages.
Personally I favour the green route due to strength of the RSI, but that is quite tenuous and tomorrows trading will tell all.

F4T "but it could bounce a little when it meets the rising short term trendline (red). The 50% retracement point is at 59/60."

Bloody good call again mate. I thought exactly the same as not only 50% fib but also bottom of the 34 day tunnel on my chart set up, add that with the trendline you had from bottom spike and closes = 3 reasons for bounce for me.

This is getting interesting now...hmmm! Post a chart later.

GLA

54p, should be good support here, if it gets there.
I think its the best place to go long, as two supports at 54p.

uk.advfn.com/p.php?pid=chartscreenshotsh...wo%3D&symbol=L%5EGKP

Regards,
Trendfriend.

That's still an exceptional return Richard. Well done yourself.