GKP - Research

It has been a very good day TF, thanks. If you read my earlier posts I was expecting a retrace from todays highs and a close around the 85 mark with a bearish candlestick pattern. The move is overextended. It's all there. That is bearish.

If pushed and having seen today's action in full, we might see 75.50 again before 90 again, being a 50% retrace of the whole move. My reasons for this view. This rise overextended. Indices are at resistance, here and in US. We need a leg down and stocks likely to follow.

I post my views to help people if I can, not to compete.

GL All, and hope most made some cash on this this week.

F4T

Trendfriend wrote: uk.advfn.com/p.php?pid=chartscreenshotsh...w78w=&symbol=L%5EGKP

uk.advfn.com/p.php?pid=chartscreenshotsh...v3AE=&symbol=L%5EGKP

Whats the next move here?
Bottom of the descending trendline?
I hope folks managed to close positions in time here.

You still bullish F4T?

good weekend folks
Regards,
Trendfriend

Trendfriend - win,win then eh! Agree for the time being that it'll stay within wedge. I'm expecting iv pullback to form a right shoulder then.....

Very Possible keith, like you say time will tell.

If it breaks out of the wedge, fill yer boots time it will break out at some point!
If it hits the bottom of the wedge, fill yer boots as well.

Most likely to stay in range now, within the wedge imho.

Lets wait and see.

Looks like it could be a long legged doji, as it's coming back up now....nail biting close. LOL!

If today's high was the high of this run - here are re-tracement fibs.

Trendfriend, don't you think wedge is bigger than that? I Don't think It'll be testing the bottom again. I'm hoping it'll break out...but then I'm a glass half full guy! LOL! Time will tell...