GKP

I was wrong about there being no active targets (should have thought about it more). It's been an interesting exercise but please be aware that the following may contain errors as I have done this manually. I used 1 x 3 box size (points, not %age) and prices based on highs not closes:



dl.dropboxusercontent.com/u/20815047/GKPP%26F13_04_14.png

Ties in nicely with the "standard" TA of supports and resistance.

Roxy,

No, I haven't got a p&f chart with auto targets but if I find time later I'll manually calculate them. I suspect that most are probably not active targets though.

Yes, 126/7 is resistance from that 2013 low but that's only part of the story. Also, I'm not referring to it as part of a 123-low formation so I think you've slightly misunderstood my post. I'm saying that it's a possible wave 4 high of some degree so if it gets taken out then it's less likely that the current move is a wave 4 of larger degree.

Just something to watch IF we get the 123 breakout first.

Jacko I know exactly what you mean about the 127 price: this is the May 8th 2013 low mentioned in my post and was the previous swing-low which needs breaking to confirm a trend change. However, to class it as a 123 low it would have to be the low and that currently belongs to the 81.93 on April 1st. What Remo looks for with these moves is a retest of the next high above the low, in this case 108.96 on April 9th; which is why he is looking to enter at a break of 109.

Of that there is no doubt and i stand guilty as charged.
Mr J,do you have access to any associated point and figure,up and down?

Hi Roxy,

There's no way of knowing in advance, we just have to read the price action as it occurs.

We're some way off right now and we've not even had the breakout yet. Then there's 120p and 127p to worry about. Assumptions of upside in this share have been the downfall of many.