GKP - Research

...and here's a close-up of the hourly....
dl.dropboxusercontent.com/u/7238706/Gulf...d%20%28hourly%29.png

Daily chart update highlighting the main trendlines from the 10p lows and the ATH:



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily04_02_14.png

There's gonna have to be a breakout of one or the other in the not too distant future. Also look for a possible W formation from the 240p high.

Got the bullish engulfing remo and a nice possible cup on the hourly. I'd like to see it hold 159.5p now.

An example of the current hourly chart of GKP
You can see how its been getting lower lows all this time .So could have helped people from jumping the gun
You now can see the level jackozy was talking about on the hourly with regards to the 123 breakout point.


dl.dropboxusercontent.com/u/4899609/gkphourly4thfeb2014.png

Sorry, remo - I misread your comment that I quoted. Thought you said that we were looking *at* a bullish engulfing...

GKP needs a finish above 162.5..Thats when you can say that the bulls have gained control
Thats also when you can relax if you have already gone long from the perfect level
Obviously im not saying to go long current level as that has gone and passed as far as im concerned.If you have not gone long from the 150 area then you have missed the perfect level to go long on a first attempt basis.
also if it does go back to the 150 level now then stand aside as that level was only good for the first time.