GKP

This ones currently on the 61.8 fib area from recent low to high...
Ive gone long with stops below the low.
This move down is normal after a rally so im taking the gamble .
Stops are below 126.....so 14 points risk..
Stops are a must and if it get bailed out then atleast it can possibly protect you from a bigger fall.
if it does go below 126 then that will open up the 80s hence the stop.



dl.dropboxusercontent.com/u/4899609/gkp28thjune.png

WaveSurfer wrote: haha J - thought id posted the monthly chart yesterday ...

here's today updated ...

dl.dropboxusercontent.com/u/40497882/gkp_monthly_June13.JPG

Yep - it is also still possible that the rise of the last few days was wave 2 up of 5 of C down. As remo says - the down channel is still controlling this.

You could see how the re-drawn channel is now acting as resistance.
This has to finish above that channel for real strength to come.
But the real area this has to finish above is 166.5 If this area gets taken out then back up to 190 area


dl.dropboxusercontent.com/u/4899609/gkp26thjune.png

haha J - thought id posted the monthly chart yesterday ...

here's today updated ...





dl.dropboxusercontent.com/u/40497882/gkp_monthly_June13.JPG

Yes, could have been WS. Please forgive my cynicism

Yep - 158p is downtrend resistance and also the 4H RSI resistance from the bear div trendline:



dl.dropboxusercontent.com/u/20815047/FTS...ts/GKP4H26_06_13.gif

Should drop back to c. 140/1p now but I have this as a probable trend-changing move now with a truncated 5 of C completed at 129.25p the other day.

Or just technical bounce after tl test and back test of previous breakout bar....157/8 feel the pressure