GKP

forgot to add...
if 54 does not hold ,this share may go to 14p where there is a strong gap support...
so its important to have stops in play...
14p thats where most of us had originally bought this share from...lol...i got into this just below 10p originally...that would be a full circle....

This share has become boring of late..Nothing interesting in this from a traders perspective.This is just going sideways for now. The best level for a long on a day trade wise will be at 61 on a first attempt..possible double bottom?? but this would have to have a tight stop of 2-3 points...The ultimate level for a long will be 54 as that is where the gap support is, this should bounce from there as gaps from the past have a stronger chance of holding declines especially important gaps..If a share has multiple gaps then this does not work but gkp dont have that many gaps so i expect this level to hold on a first attempt basis.
This level has significance for gkp as thats where it gapped up from before moving to the crazy heights of 450 area.

dl.dropboxusercontent.com/u/4899609/gkp25thsept2104.png

so all in all a boring share to trade recently...

Cheers WS.
It was an odd close yesterday. Traded below 70p all day and looked certain to complete the three outside down formation, then a pop at the close to form a hammer. Today's open at 68.25 reset the bar.

My falling wedge support is now below 61 and going lower every day. No pressure on RSI yet and volumes still poor. Not long now.......

uk.advfn.com/p.php?pid=chartscreenshotsh...qJ4k=&symbol=L%5EGKP

great stuff - thanks for this WS!

to follow up with a chart - coincidence or what ? price (32days in 8 to go) and time ?

need to start turning up & taking out previous high low to start with to invalidate



dl.dropboxusercontent.com/u/40497882/GKP%20Daily%2024Spet14.PNG



WS

Judgement day - as early as tom or by end of week possible.

if gkp does not turn back up from here by tomorrow, then i'm expecting a drop to at least the lows of august and more than likely take it out and start hunting for a new low.

i'm more inclined to think if it does drop, then it wont be a drip drip drop, it would be again in the magnitude of the drop that made a lower low in august ( big red candle 10-20 pips approx, then once that happens think the market will start to find the low - and it's so close to doing it.

no change in my view and price area to watch remain the same as per previous few posts, just thought i'd mention what i see as of today close.

All the Best WS