GKP - Research

Whilst a wave 2 retrace is usually 61.80% of wave 1 it is not set in stone and can run to 76.4% or 85.4%. What is for sure is, it cannot be 100% of wave 1.
My stop is at 164.50 so maybe I better extend it a couple of points if Bonobo's H&S is gonna work-out. I had the top of wave 1 at 166.00 which was why I opted for my stop. The next major support would then be the low of Dec 2012 at 161.00.

Diver

Optimistic. I'd wait for a 1-2-3 low on the lower timeframes before getting involved with GKP. Currently nursing a couple of longs which will get the chop tomorrow if it carries on down. It's just not showing any appetite at the moment.



dl.dropboxusercontent.com/u/24866576/Oct...Ltd%20081013%20D.png

Below today's low would invalidate a wave 2 retrace would it not Jackozy or Diver? Do you have any views on alternate counts?

Cheers,
M.

171p broken. But is an inverse head and shoulders forming from mid 2012? And will 164p be the bottom?

dl.dropboxusercontent.com/u/7238706/GULF%20KEYSTONE.png
Looks like this is heading to 171. And, for me, this looks like a wave 2 as it's looking like a 61.8% retrace of the 240 high.

Diver

GKP is at the important level for a bounce. Im already long from the trend line at 188.6.
My stop is 10 points .


dl.dropboxusercontent.com/u/4899609/gkp30thsept.png

190 is the breakout point and the gap fill area.
im going long from there on a first attempt basis. Another good level would be the trend line . Thats at 183.5


dl.dropboxusercontent.com/u/4899609/gkp20thsept.png

dyor