GKP

This has come back on my radar.
Im gonna go long on a first attempt trade at 170. Stops are gonna be tight.Stops should always be placed below a near by support and in this case if i do enter at 170 then the stop will be below the support at 160.75 so around 159. Hate round numbers.
This is also approaching the area where it broke out from the 123 low a while back. This was at 168.5.


dl.dropboxusercontent.com/u/4899609/gkp22nd%20jan2014.png

GKP is in a sideways market so always harder to trade. Just bear that in mind.
Sideways markets are the hardest to trade . So i feel sorry for all the newbees out there that try and trade this.
Its still one of my favorite share thou

dl.dropboxusercontent.com/u/7238706/Gulf...220114%20%28-%29.png

This is an hourly chart. Looks like we have to go to 176, or maybe even 173.40 before we see this rise....

Apparently there is a meeting today between the Deputy PM, Al-Shahristani; the Oil Minister, Elaibi; and a KRG delegation. If anything productive comes from it - if - it may provoke a market reaction this coming week.....

just for fun

Lovely reaction off the gap and pitchfork support on Friday giving a cloud breakout too:



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily12_01_14.png

Note the cloud resistance for the lagging line is at 203p which fits in with Wavesurfer's and Diver's view of a pullback from that area, perhaps to backtest the 196p or trendline break.

RSI closed right on its short term downtrend too and indicators have turned up. Bit of time yet on this but near term target remains 240p.

Big thanks WS