Hasn't the trendline you have put in been broken?

screencast.com/t/ria55m4OFyh

Does anyone agree with me that this appears to be heading back to 114 to complete and ABC correction from the high of 465? If the current trend line is anything to go by we should be there around the middle of February. The projection to (( c )) is based on an equality with the (( a )) wave from 259.49.

Just another GKP chart view, short to medium-term more up before more down!?

Diverging trendlines?(based on closing prices).

(in a GKP bull market or GKP bear market? ABC?).

dl.dropbox.com/u/87556809/e40c51f41e9c9a...96eaada98058_png.mht

As some may know, I like to overlay trendlines drawn on a line graph over candlesticks as I find closing prices more reliable, but also use candlestick formation analsis for the best of both worlds.

For those disbelievers, here are both. Note closing price resistance for the past few weeks that has held pretty true.

Have a good weekend.
F4T

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

uk.advfn.com/p.php?pid=chartscreenshotsh...Hr+P7&symbol=L%5EGKP

Hi all,

my feeling is that 169-171 is still a strong probability especially with the CC running on for more than two more months. I see the long term support trendline from 2009 currently in the 160 area as a potential bottom though. 140 is always hanging out there but unlikely IMO without severe general market weakness.

In terms of short term trades, 181/182 is likely to provide a good bounce being a multiple support area including 61.8% fib of last move. The sp has a settled bottom the past week or so at 187/188 so I think with no sustained move higher, this is likely to break in the near term giving way to 181/182.

So, in summary; trade at 181/182 and invest at 160/161.

F4T

SRB,

Like XEL, I'm looking for an optimum "investment posistion in gkp"...for now I only see a small bounce at fib 50 and whilst most (approx 54%) off bull flags will break to the upside, however I'm not sure if I'm chart fitting with that one, just think 186/187 is a number that often gets played with gkp...for me I see 216 or 227 upside, but if we see 185 then I see a re-test of 171... there is also that 203 pivot area.....just highlighting 187 likely to be a trading opportunity with tight stops......like many shares recently I'm now looking longer term and accumulating when good shares with growth prospects are retracing to good entry points.....I said that about 171 before and missed the move...you guessed it by a penny!...for now it looks like the old enter at 20 and exit at 50 with any bounce likely to be capped at 200.....you can't have it all ways I know, but just highlighting areas where I feel are likely to be pivotal...you are certainly correct about 30p ranges but for now I think we see a small bounce and then retrace....you can see bull and bear arguments, but patience has been my big learning the year and IF we see 141-145 then I'll be taking a stake, other areas would be for trading (but 171 may be the number?..who know's!....I'm just a self taught chancer/spreculator chancer gambler!)..personally I'm looking at the possible wedge pattern with 50 day resistance taking this to 171 or maybe even 141...of course it could breakout before then and head for 260.....nobody ever knows with gkp!!

Tradesmarter, thanks for the chart could you confirm the target area please should the flag break to the upside. The pole is approx 30 points so is the target 30 plus breakpoint or 30 plus 203 top of pole.

Many thanks

186/187 was a number that used to crop up on gkp and for now looks like a trading area e.g recent fib 50

Chart from a far - human investor psychology perspective....

a lesson in there to take away.....

dl.dropbox.com/u/40497882/GKP_Physcology_Daily.JPG

I must admit, I got confused by your chart REMO and wondered about what Pj has so eloquently stated...bum about face? .

hi remo , re your 123low is your 1&2CENSOREDabout face as your looking for 203 then 1 needs to be the
blue hammer - 2 where your 1 is and 3 the red hammer .

pj

Hi Guys,

That spike down is also on updata:



dl.dropbox.com/u/20815047/GKPdaily04_12_12.gif

It did occur as the day's low trade but way outside the spread, just like those few days where there were "rogue" trades at around the 217p mark a few weeks ago. This has been happening a lot recently. Personally, I don't yet see any further buy signals as it's been struggling for days to get through the main downtrend resistance and has so far failed (as has the main RSI downtrend resistance). A key test (IMHO) will be 182p now as that's the 61% Fib of the move up from 170p.

I just looked at the chart on share data ( top right menu) of gkp and it looks similar to metastock.
Obviously our share data chart are very primative .It's powered by yahoo.
Could some one with Updata please post a chart as well.
it's amazing how all these different charting providers have different charts..lol

Thanks for that redchilly
I'll have to check that.
I thought that price seemed a bit excessive .
the 123 low could still be valid but the 2point would be taken from the hammer low about 3 days latter.

Dyor

Remo the Candle on 23rd of november with a long wick the low of which you have labelled as 2 of 123 set-up is confusing me.
As per your metastock chart i think your low on that day is around 177 which is almost same as the low on 21st of november. Now i dont remember it getting that low on 23rd of nov and thats what i am seeing on ig index and pro real time charts(iknow they are free & not as good as metastock/updata).


As per Ig chart the low was 196.38 on that day.
Somethings not right there & I don't know what??

Possible 123 low forming.
The level to watch is 203.5
If this can finish above that level then that would be the first higher high since sept.




DYOR

To my mind everything now points to major support trendline (magenta)at 160 before a move north into the new year. Last weeks rise was all hot air IMO.

Chart from 26/11
uk.advfn.com/p.php?pid=chartscreenshotsh...Rv132&symbol=L%5EGKP

F4T

dl.dropbox.com/u/24866576/November%20201...OM%20271112%204H.gif

The pink trendline is from the 450 feb high to the recent Sept high.

Bearing in mind the spread:

+203 - buy
180 Gamblers entry?
170 pile in with tight stop?

Thoughts welcome.

M.

Would like to have seen the break with more volume as witnessed earlier in the week with the break of the medium term trendline.

This is the 4H with the pink trendline set at the 450 high and 258 high of Sept:



dl.dropbox.com/u/24866576/November%20201...31112%20cv%2060M.gif

I've drawn the line a few times with similar results. With Updata the line snaps to the second point you mark so pretty happy with how it's drawn and it looks like a break on the lower timeframes. That said I wouldn't be buying in at these levels, rather wait for a convincing break on the daily (which isn't currently showing) and certainly not before the highs of Wednesday (203.5).

Position wise I'm still carrying my core holding and some I picked up earlier in the week.

Make the most of the weekend,
M.

I’m surprised being GKP, how nobody else has picked this up.

Or am I wrong?

Seems GKP has broken the weekly downtrend.

Weekly
dl.dropbox.com/u/21384991/Gulf%20Keyston...2023.11%28DFB%29.png

Close up
dl.dropbox.com/u/21384991/Gulf%20Keyston...2.23.11%28DFB%29.png

Needs that all important close!!

Seems like its breaking its RSI downtrend line?

dl.dropbox.com/u/21384991/Gulf%20Keyston...1.11.12%28DFB%29.png

Got some strong resistance around £2 though.

50 ema 196.93
Downtrend 200
38.2% fib 203.98
As well as round number syndrome. 200

Got start today though.

Thought I'd review GKP before heading out this evening - looks like 169 will be on the cards early next week. That said it could represent a good risk reward entry. Aside from being a prior significant low back in July Looking at both the 4H & 60M chart there are lots of divergences playing out and a number of support levels that could afford a tight stop.

4H


dl.dropbox.com/u/24866576/November%20201...OM%20171112%204H.gif

Price is approaching the low of 169 and also the bottom of its descending trendline. Although not a massive fan of the 78.6% I'd still view it as a safety net with stops a little below that level.

The 60M below shows the divergences more closely with the red line being the 169 low of July.
60M


dl.dropbox.com/u/24866576/November%20201...0M%20divergences.gif

Not a massive fan of catching falling knives however the tight stop prospect means I'll probably be going in for some of this action!

Best,
M.

Well we have a little divergence on the RSI and a wave count that 'could' have completed yesterday. It could, of course, extend with all kinds of triangles and double, triple wotsisnames. Time will tell
Stay cool and soldier on....

Backtest of the 61.8% level?

Yep that's how I read it too, Ammo... if that 192.12 wasn't there a hammer it would be.

Makes me think whether these 'Delayed' trades ae sometimes put through to suit in order to skew charts and affect the candles.

192.12 trade was spurious, sp at the time was 177.
Close of 186.25 is actually just off the days high, only other trade higher than that was a weird spike to 187 first thing in the morning opening the spread to about 8p.
Today's candle should be a hammer.

Correction, today was a long white candle.

192.12 trade was spurious, sp at the time was 177.
Close of 186.25 is actually just off the days high, only other trade higher than that was a weird spike to 187 where the spread opened to about 8p.
Today's candle should be a hammer.

shooting star has to appear at the top of the trend .
a hammer has to look like a hammer.
see ftse chart for an example of a hammer or learning section

your shooting star isn't very high in the sky. the one in September marked a reversal.
however, the candle you are looking at still says that the Bears are in control and that the Bulls lost all their nerve / buying power at the test of resistance.
I always look left on my charts. On yours there is a very long wick which the bears will be eager to test, to see if it was an outlier or a true rejection creating support.
If i were to rub my crystal balls together I would bet the left one we go down and test the low at the end of June. Though I have no idea whether it will get there or just attempt to get there, we'll just have to wait and see.

Looks more like shooting star?

Hammer formed at the close after a rush of buying.

here go ...

<a href='uk.advfn.com' title='Free stock charts & share prices from uk.advfn.com'><img border='0' src='uk.advfn.com/p.php?pid=chartscreenshot&u...f3VZjyRWnvajRp0mv6Ty'><br /><i>free</i> stock charts from uk.advfn.com</a><br />

pj ( hope it works or i'll have odo a diferent link .)

Two key levels approaching IMHO:



dl.dropbox.com/u/20815047/GKPdaily13_11_12.gif

First there's the horizontal support at 169p with the shorter term uptrend (from the 87p and 139p lows) at 162p (today, rising daily) and then there's a really good confluence of supports where the main uptrend from the 10p and 87p lows meets the 139.25p horizontal support in about the first week of December. 140p has, historically, been a very significant level so that should be a really strong support. If it breaks, though....

GL

latest



the other day..seems to be playing out




Hint compare gkp and xel patterns...both will fall a tad more and both will rally me thinks in the weeks ahead (171/85 first tranches)

No! DOESN'T want to work
www.iii.co.uk/articles/59961/gulf-keysto...nfirms-new-discovery

so I'll just copy and paste

Oops forgot to press 'insert'

Would this have anything to do with the announcement of a new find



If past performance is anything to go by the SP will probably drop

This has broken above the short term down trend line today. So hopefully a sign that the bottoms near???? If this can finish above 193 then strength may follow.
Stops have to be below 180.

DYOR
remo

171 anyone or 141 everyone

OOOPps! Sorry, wrong topic

screencast.com/t/4YvsTLTw8iO


Hello! Maybe this 'B' with an itch is finally waking up

Say it quietly

Interesting development on the hourly just now:




dl.dropbox.com/u/20815047/GKPhourly01_11_12.gif