GKP - Research

AdeMcG,

For intraday trades you could look to go long on the pull-back, i.e wave ( iv ). Wherever that finishes - certainly not necessarily 91.75....

For anything longer term, this needs to close above 109, IMO. And that might include the wave ( iv ) trade referred to in the first paragraph the way the sp is currently moving

I think it is always to be a closing basis (REMO Correct me if wrong)

Should we wait on a closing basis for 109 or will intra day be enough?

So buy on retest of 91.75p ? If there is one.

Here's the 1 hour chart....


dl.dropboxusercontent.com/u/7238706/Gulf...20Ltd%20%281H%29.png

....the move up from 72 has been fairly predictable: an ABC to 89.00 followed by a pull-back to 61.8% at 78.25; we now look like forming a 5 way move, which may or may not have ended. Wherever it stops expect a wave ( iv ) to make a 23.60 > 38.20% pull-back of wave ( iii ). Wave ( v ) should then head up toward 109, with a bit of luck

ok smallest chart ever looks like this..... T ......As of today i reckon gkp have formed a hammer on the monthly.