GKP

Jackozy, you make me smile. The one thing I've learnt about EWT is that we all try and see waves in too small a detail. In the majority of instances there is no such thing. Look back over the big picture where possible. I say where possible because in many cases this is extremely difficult due to a lack of data: many providers only starting at the year 2000 for example. Check out any chart and I would suggest you will see many more corrective moves than impulsive ones: it's just the nature of the beast.

In the case of GKP I'm seeing an ABC move since inception and I trust this view will prove self-explanatory.

screencast.com/t/9N6pA48qzc

Sadly I cannot fit everything onto one page. The fib extension is showing a target for wave (C) of 620.00 to 730.00, being 100 to 123.6%. If the extension gets to 1.618 of A, and there is divergence at the top of (C), then the whole thing is impulsive and for (C) read 3; for ( read 2; and for (A) read 1. There really is no way of knowing in advance, we just have to let the chart evolve and tell it's own story.

Hope this helps.

Hi Diver,

I'mm having a real hard time following those waves of yours - everything is corrective with not a single impulsive wave in sight. Even corrective sequences contain impulsive moves.

Your projection ends with a wave (b) but there isn't an (a) and where would the (c) be? Having a wave (b) there would suggest to me that you're expecting a (c) up before another, much larger move down to well below 141p if I read that correctly.

Can you please try and explain your count, or possibly simplify it so I can understand where you're coming from?

Thanks.

Agree 200% with building the position:)

Cheers guys, always good to get different views.

SP looks weaker after yesterdays price action but lows are being bought as before.
I intend to buy in tranches below 187 and hopefully build a credible position.

Let's see what today brings.
F4T

screencast.com/t/kKF2I0Xk

Well I sincerely hope you guys are correct but I'm finding it difficult to be positive just yet, other than for the short term. Longer term I'm looking at revisiting the trend line down at 160ish. This should coincide with the end of the court case in terms of time and then, hopefully provide the platform for dramatic recovery of the SP.

It would be wonderful to be totally wrong and the SP to go stellar right now, but my chart does not speak this language.

Be lucky peoples

Hi F4T,

As usual I completely agree with your assessment: it needs a close above 201/2p to confirm a breakout. Today it's tested a key area for me, that of the 61.8% Fib of the rise from 182p to 203p though it has to be said that it wasn't convincing by any means.

My primary concern currently is the form of the 182p to 203p rise. I'm finding it very hard to see it as impulsive as it looks to be a clear 3 wave move which should be corrective and point towards further downside. That said, the hourly chart did have bullish divergences at 182p and the SP did close above that crucial 61.8% Fib.



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