GKP

Hi Diver,

Snap with the upward extension fibs - I've only got end of day for pro realtime and did this before closing candle appeared (takes 20 mins after the bell) - just having a proper look now. Been out with the kids for bonfire night.


screencast.com/t/BWMbvWGYotD

dl.dropboxusercontent.com/u/7238706/GKPhourly.png
This 1H chart completed a 3-way move from the low at 42.50 to 75.60 and then retraced 50% to 58.50. It is now pushing toward the 68.10 level, which it needs to break to continue the upward move started this morning and is illustrated by the green percentages.
The alternate is a breach of 58.50 and a move lower illustrated by the red percentages.
Personally I favour the green route due to strength of the RSI, but that is quite tenuous and tomorrows trading will tell all.

F4T "but it could bounce a little when it meets the rising short term trendline (red). The 50% retracement point is at 59/60."

Bloody good call again mate. I thought exactly the same as not only 50% fib but also bottom of the 34 day tunnel on my chart set up, add that with the trendline you had from bottom spike and closes = 3 reasons for bounce for me.

This is getting interesting now...hmmm! Post a chart later.

GLA

54p, should be good support here, if it gets there.
I think its the best place to go long, as two supports at 54p.

uk.advfn.com/p.php?pid=chartscreenshotsh...wo%3D&symbol=L%5EGKP

Regards,
Trendfriend.

That's still an exceptional return Richard. Well done yourself.

Very well done with the trade F4T.

I got cold feet around the mid 50s after entering low 40s.

I wish I had been more patient. Hopefully another opportunity to come.