GKP

Hi woody
currently no buy signals for gkp. This is still in a down trend.
Im waiting for a 123 low to form to give the green light to go long. Once i see it i will post the level on here. Even then i still will have a stop in place . The risk should be minimal .
So currently the share price is still weak and nothing of interest really. Its not even indecision as you would get a lot of doji candles,so currently the bears are still in control.
once i spot any green shoots ill post on here

xWoody wrote: Hey guys

To a novice like me, it appears that we have just been bouncing between the 92p support and the 97p resistance for the last few days, in apparent indecision about which way to go. Is this all that's actually happening or are there some other signs or indicators that would suggest there has been a more subtle power shift in the bull/bear battle at this point? Is there a technical term for what we are seeing at the moment or is it just plain and simple 'indecision'?

I ask because I have often heard terms like dispersion, consolidation, etc chucked around and am just trying to analyse and understand everything I see...

Cheers
Woody

Hey guys

To a novice like me, it appears that we have just been bouncing between the 92p support and the 97p resistance for the last few days, in apparent indecision about which way to go. Is this all that's actually happening or are there some other signs or indicators that would suggest there has been a more subtle power shift in the bull/bear battle at this point? Is there a technical term for what we are seeing at the moment or is it just plain and simple 'indecision'?

I ask because I have often heard terms like dispersion, consolidation, etc chucked around and am just trying to analyse and understand everything I see...

Cheers
Woody

Count wrote: Hi Steve,
Did you buy yesterday like WaveSurfer did, not waiting for 123 low confirmation?
Interesting that it managed to close today (just)above yesterdays high.

Hi Count,

As yet there is no confirmation that the bottom is in so any trades from this level still need to be treated with a great deal of caution imho.

Wavesurfer has a great skill in reading the markets, one that I'm still trying to learn. That means he can not only see when to buy but also when to sell and how to protect his position. At this stage, not only should any buys be treated with the above caution, but there is little to fear from this share running away as there is so much resistance ahead. Not only has a higher low not yet formed there hasn't even been an initial high not to mention a 123-low breakout.

Don't worry, when the time looks right I'm sure it'll get some coverage on here!

Thought i'd share following on from my previous post today on piercing line reversal...

funnily enough i just traded a piercing line reversal but on a 15min timeframe on the Dow - you can see the similarities (candle) to chart in my last post....

the exception that gkp came off a daily timeframe and in theory should be more powerful (not seeing that at the mo)& the candle on the dow took out 50%= of the previous bar and continued pressure to upside......






rgds WS

Hi Steve,
Did you buy yesterday like WaveSurfer did, not waiting for 123 low confirmation?
Interesting that it managed to close today (just)above yesterdays high.

Yes, working fine now. ')