GKP

Thanks Remo. If I was a GKP pioneer I would certainly have remembered that one lol. Looks interesting though, wouldn't you agree? That's nearly a 50% retrace from the last swing high! Great trading for the shorters.

The gap support held for the first attempt but it stayed near there which is a warning sign as well. True supports would bounce hard on first attempts and if they dont then there is a chance of it failing.Thats why the 123 low method is so great as it will stop you from entering a falling knife.
37p is the next real strong support for gkp , This would be the first attempt basis entry only and for the short term.
The best way to find a bottom is via a 123 low signal.Until then stay out of gkp if your new to trading.


The chart below should be enough for you to work out why 37 is the next support level.


dl.dropboxusercontent.com/u/4899609/gkp11thoct2014.png

Well, the gap closed yesterday as 54.25 broke on third attempt. No bounce as we had this already from 54.25 the other day.

Toilet paper time now with little meaningful support below until 18.50. Will be interesting to see what happens if it breaks 50 re: stops etc.

GL
F4T

No your right, Earl, should have mentioned, i moved my stop up to B/E on the rise yesterday, as i had a fairly large position, forgot to post it here, apologies.
i always move my stop up, to protect capital on a decent rise after going long.
I got cut out @ 55p.
Disappointed with this, thought we would get at least a substantial technical bounce, which we did but it was very short lived.

Regards,
Trendfriend.

Trendfriend wrote: Got stopped out this trade.

I thought you went long at 54.9 and were going to add more if it dropped to 50?? How low was your stop?! Apologies in advance if I'm being gormless and missing something!

Got stopped out this trade.