GKP

Looks like another lottery number came up today F4T

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An interesting interpretation. Close was at 141.

"So your prediction is either 161, 129.51, 68.64, 157 or 146.14."

And your bets were on the above. 3 well under water, one not hit and the last a distant dream. Congratulations, you must be rich

Sorry to hear that B77 - hope the scan results are good for you.

dl.dropboxusercontent.com/u/7238706/GULF%20KEYSTONEweekly.png

Here's the projection from the low at 4.55p, up to the high 465, down to today's low.

Looks like another lottery number came up today F4T

I totally agree with Remo to wait for a re-test to prove the change of trend: you have to be on the side of the trend and it's no good trying to be a hero and guessing and gambling, after all there's plenty of potential here. Be patient people

Thanks Jacks. 'Fun' isn't the word, but I did take more shares at 134.9p (had to set a limit order as I was under an MRI scanner this morning).

I personally think that there is a 1-4wk window of opportunity to shake out the margined/leveraged before the next (and maybe even last) uptrend. We all know the fundamental catalysts that could help to fuel this, so I'm interested in your wave projections to ascertain the technical 'wind' that might blow behind GKP on the way up.

Anything below 140p should make a good return, but if the sales are on it would be nice to pick up the best bargains.
Good to hear from you.

PS I'll have a think about what the upside targets might be from an EWT POV assuming a 131p bottom later on. Been out for most of the day (not at the beach unfortunately!)

Hi B77,

I was wondering if anyone would remember that post lol! As I recall, it didn't go down particularly well....wonder why?

Still, even the hardest granite will erode over time against the power of the waves

87p was merely mentioned as an outside chance as a technical possibility. I guess it still remains as such but this week's action, and particularly today's, is significant as F4T has discussed (do I still owe you a pint F4T? Happy to stump up on that mate!).

For the first time during this drop we had a real element of fear-selling and then some decent buy side volume kicking in which suggests this *could* be a low. The day's candle looks like forming a long legged doji ( www.forexbees.com/long-legged-doji/ ) so it'll be all about tomorrow's action now. It needs to open at, or above, today's close and keep going to finish with a bullish long white day.

As remo has discussed, the best thing to do would be to wait for the initial rise and then a higher low to form and buy the breakout. Until that happens we cannot be sure (and even then not 100% sure) of a trend reversal. Prices always retrace after an initial rise so there's no need to panic buy this yet. Even if the breakout to a higher high after a higher low occurs at, say, 161p it's still way lower than we should have exited at.

Best of luck. Fun, ain't it?