GKP

I'm not sure if that's likely to have a bearing on the current case since it's already concluded barring judgement however, as it happens, I closed my short at the close of play on Friday just so I wasn't holding it over the weekend.

We know what the key number are though so let's see what happens at those.

Hi all who are interested.

The litigation funders backing Excallibur shut down this week. Is this not huge news? Surely if they thought they were about to profit from the GKP case in weeks they wouldn't be shutting down.
online.wsj.com/article/SB100014241278873...483492868041194.html

Above info from iii GKP

I should expect to see sp up.

WS, remo, jackozy, diver993,

Many thanks to you all. Read your posts, I have reviewed 123 TA for no gamble green entering TA tech, the bulish engulf, the nickline. I am intrigued by diver993 post, he revealed that the RSI has already broken the bearish trend line, indicating a change of trend. I will continue watch the RSI and sp. However RSI is unable to indicate trend direction because it's only a momentum indicator says Complete RSI (sorry I suddenly see my note of this book. Don't know may be this book is not perfect)

16 May sp close 145p above Fib –50% , 17 May close 148p above Fib –38.2% So if the bullish is still not guaranteed, at least sp is in the critical point as WS post 13:33 today showed it could climb slowly up, or slowly slip down unless we may get shock RNS/news. But I think Fib -61.8 (142p) of last week might hold.

here's that updated 15min chart - maybe a tri forming out (tentative orange line)

dl.dropboxusercontent.com/u/40497882/gkp_17v3May.JPG




cheers WS

remo, jackozy, diver993 and others,

Many thanks for the courtesy of the comprehensive response - much appreciated. Sorry for my delayed response. Hard to explain why I did not login this excellent tip of trade board ( I had 2-3 important things to dealing with). I have not setted my mind on short, though I viewed and knew the 159 is resistance, and I also used Fib know that roughly Fib -50% (144p using 130p as bottom) would certainly reached. Actually it reached 142p. I now know after frenzied buy at top (resistance), the retrace usually would reach to Fib -50%, or even -61.8% is quite common.

I think the swing channel now is between 142p to 159p, most daily range might be 144p - 150p. me think.

This weeked, I can spend time on study TA, the book - complete RSI, and read and digest your excellent contribution of GKP TA.

Congratulations to jackozy and others who shorted sp at 159p. At least you earned some money. I bought a few GKP while RSI=20ish.

Welcome to any correction.

I've nailed my colours to the mast, closed my long and taken another small short at 150p with a stop just above the 61.8% Fib of 152.4. Reason? The drop from 159.5p looks like it could be wave 1 of 5 of C to me (yeah, I know - very small moves/timdeframes cannot be relied upon) but this is what I've been expecting anyway:



dl.dropboxusercontent.com/u/20815047/GKP15min17_05_13.gif

The move up from 140.5p doesn't "feel" bullish and looks more like a bear flag to me.

Could be wrong. Time will tell!

PS So far managed to gain 45 pips between 134 and 159 so not doing too bad for a change!