GKP - Research

This looks like it's going to close the gap.
If it can back above the 50 day, at around 84p, might to time to look at some short term upside options.
As it could go on a bit of run possibly.

The 50 day is the key for the upside imho.

uk.advfn.com/p.php?pid=chartscreenshotsh...AfaM=&symbol=L%5EGKP
It could most likely be a gap close and back down.
Regards,
Trendfriend.

Hi Wavesurfer,

That's some great analysis....and the daily chart....hmmmmm. Hard not to think that count isn't right. Thanks for perspective.

Eddie, dunno - they are quite low res, maybe best to include a link to a hosting site, the quality is definitely better.

KK

I really wish the definition on the charts was better ...they are very hard to read very often... at least the detail and if one zooms in then it becomes nearly unreadable. Any ideas how to improve this anyone?

Hello Chartviewers !

Well it's been a while since i posted on chartsview, I mainly provide my thoughts on chat facility, but recently due to new job commitment have a had limited time...hopefully will be able to give more time on here and provide thoughts abt the markets in general, those that now me you know how love to dance and play the Indices and commodities..... anyway back GKP, well things are starting to look interesting

For me i cant get bullish (Doesn't mean there 's no value at these prices tho, points are points) on gkp until i see break abv 96/97 and then take out 118p with Force...until then lower targets remain which are 60/63p, 54p & 44/46p area.

looks to me price is starting coil in a triangle -see Daily as an example.

As the weekly and monthly are in control worth looking at these charts too... some notable divergence forming on those ( need confirmation), but not on the daily just yet...like to see a lower low in price with the rsi making a higher low, then with all 3 time-frames showing this, things may just start to get interesting.

Lots of good analysis by others on here, so not much else to add to that....

Daily:



Weekly:



Monthly:



Cheers and all the best WS

PS - remo & Ronnie conrgats on your new arrival...

Price is King !

Hey Food4Thought,

Sorry, yes - I'm trying to show too much historical info on chart - just trying to illustrate how I determined my downside target back end of January as well as what's potentially going on now. I agree the inv H&S is a little crooked, but as you say, the implications are the same, and though perfect symmetry would be nice, as you know markets aren't perfect....and no matter, the implications are the same. I've include a zoomed in chart of what's going on now just to clarify pattern and fibs as yes, you need 20/20 vision and a lot of squinting to see it properly.LOL!

Interesting you have a similar upside target as myself (116), so I take a little comfort in this as you know your stuff - I also agree if it can't close the gap quickly it will probably run out of steam. Not even thinking of 140p targets yet until the picture is clearer myself, and again as you say, as a trader - better trading elsewhere for the mo. I concur, obviously if it was to hit 61p as a double bottom, this would be a much more obvious and trade-able move!

Thanks for sharing your thoughts - always on a never ending learning curve so I welcome your feedback and input - Thankyou.

Keith,

had a look at your chart but it is a little small and hard to get all the detail.
Personally I like to see a more even H&S, the shoulders being less crooked (if I am interpreting your chart correctly), though the idea of failing to meet the low (head) to form the right shoulder would still attract a reverse action.

Your fib extensions to 116 is also very neat as I have had 116 as a (maximum medium term) top for a while now. I like 116 because it is proven and not too far away from the price action. I think we will get there, but not sure when. Not sure about the gap at 140 though.It might take an act of God to breach that.

I am surprised we haven't fallen below 75.50 given my previous comments on earlier posts. One might have expected it to do so rather quickly and consolidate below this new resistance. It is struggling to close the gap IMO. If it does we might see a quick reverse.

Anyway, a path is not so clear as it was so I will wait and trade elsewhere for the time being. 75.50 and 90 being points where I will review this again.

What you can be sure of with this one is that the SP will not run sideways for long. An inv H&S to 116 would be nice as would a double bottom at 61, the latter being the cleaner and more tradable move.

GL
F4T