GKP

Hi Jacko,



You seriously couldn't expand the chart? Do other members suffer in the same way? It should expand at the click of the mouse so I'm really surprised to hear this.
Here's an external link...
www.dropbox.com/s/urdjykd4sliy1oj/GULF%20KEYSTONE.png

...... not that it's worth looking at: errors in the fibs! Well spotted! My apologies. Sometimes I look and don't see I had the fib for the overall move from 126.5 finishing two days early: plotted it previously and hadn't updated! Duh!

This is at a very crucial level just now, having retraced to the 61.8fib from the low at 126.5; and currently in the target zone between the 50 and 61.8fibs from the recent high at 166.0. I'm now waiting to see which way it breaks?

I purposely didn't put any detail in the labeling so as not to generate any argument as to what is, and is not, correct. As yet I see no evidence to confirm the current move is complete at five swings but time will tell. At the moment everything is as expected.

Any ideas when the court case decision is being announced?

Hi Diver,

I can't make out the detail on your chart as I can't expand it. A couple of things though...there was another apparent 5 wave sequence earlier on which resulted in the drop from 228p - it, too, had "perfect" impulse wave form with 61.8% and 38.2% retraces. It's in the highlighted area here:



dl.dropboxusercontent.com/u/20815047/GKP5waves.gif

The other thing is, were your Fib levels a typo? I have the 50 and 61.8% retracements of 126.3p to 166p as approx 146p and 141.5p respectively:



dl.dropboxusercontent.com/u/20815047/GKP4H07_06_13.gif

So far, the 38.2% Fib has provided a bit of support so it may well hold at the 61.8% one rather than make a new low. We'll have to wait and see!

Cheers

Are you a pro mate?

Food4Thought wrote: Hi Amo,

yes, always for the main trendlines. I overlay them on candlestick charts. I sometimes use the shadows for minor trendlines, but they are secondary and less effective.

IMO it is why the pro's make the money and the PI's make the change. I'll stop there....

Of course I use other indicators also, mostly fibs, MACD divergences, money flow and candlestick patterns.

F4T

Amo wrote: Hi Food4though,

Do you use line charts for all your trendlines?

Thanks


Amo

Hi Amo,

yes, always for the main trendlines. I overlay them on candlestick charts. I sometimes use the shadows for minor trendlines, but they are secondary and less effective.

IMO it is why the pro's make the money and the PI's make the change. I'll stop there....

Of course I use other indicators also, mostly fibs, MACD divergences, money flow and candlestick patterns.

F4T

Amo wrote: Hi Food4though,

Do you use line charts for all your trendlines?

Thanks


Amo

Well there's definitely been 5 swings so this is due a retrace..... and the target area is, as always - 50 to 61.8% - 154.12 to 151.32.

Hi Food4though,

Do you use line charts for all your trendlines?

Thanks
Amo