GKP

I think I understand the "swing from 126.50 to 137.50" means that the channel from bottom 126.5 to the top 137.5p.

Thanks.

Hello all,

Just want to understand your key numbers meaning. Firstly "161p still the key number", so if sp stay above 161/160p, it tells that GKP down trend reversed into uptrend. Right?

Key level 145p, if sp over and stay above 145p, what does it mean? OK "145.98 is a 161.80% expansion of the swing from 126.50 to 137.50..", what is the meaning of 137.5p, is it a kind of wave figure.

Much appreciated for your expertise and for enlightening me.

I think this sp jump is all related to the news appeared yesterday about 3:30pm about the Turkish PM Erdogan said at the airport that he agreed with Iraqi Kurdistan, Exxon Mobil on Oil Exploration in Northern Iraq.

I'd like to see the RSI break 75 and the SP to exceed 161 to invalidate the downturn and confirm the move up.
145.98 is a 161.80% expansion of the swing from 126.50 to 137.50....

i love candlesticks esp one's with flat bottoms....lets see if it can be maintained through to close...

at a key level 145


dl.dropboxusercontent.com/u/40497882/GKP...ly%2015thMay13v1.JPG

Agreed WS. 161p still the key number IMHO.

Very similar pattern to the bounce off 161p and 172p in late Dec/early Jan. Volume better at this low though which is a good sign.

In auction now but has a daily high trade exactly at the old channel support (so far):



dl.dropboxusercontent.com/u/20815047/GKPdaily15_05_13.gif

Don't forget the stops has to be below 2 point Hense why the risk reward is good .