GKP

until we get a higher high,,ie,,,123 low formation then you cant say the down trend is over.
correction are all part of trading and by waiting for the 123 low formation to form you are cutting down the risk.Very effective way of not catching a falling knife.
If gkp respects the new resistances then thats your warning of possible lower prices to follow.It has to break above the resistances and create new supports.
Just keep it simple with gkp for the moment . You will know when the down trend is over.Higher highs will form. Until then be cautious.

remo,
Thanks as ever for your views.
Hopefully not too dumb a question here, but of the 123 formation I can clearly see the '2' is last week's 42/3, but what is your '1' SP at the moment? For that are you going right back to the mid-80s high seen in mid-to-late August 14 and waiting for the SP to clear that level before going long??
Many thanks and best regards to all,
Mike

Is anyone optimistic on GKP long term from a pure TA angle?

Edit: I should elaborate, I know most here are looking for shorter term trades, Remos 123 low (if/when it happens will be a shoter term trade, F4T's (great posts thanks) bullish harami gives possible prices up to 117/118 on the monthly chart. I just wondered if anyone else looked medium term or longer with TA ad in particular GKP.

even for medium term there are no signals..GKP is in bear mode and until you see signs of green shoot then you cant do medium term views on this....well medium term views currently are all bearish..

manfrombrussels wrote: Is anyone optimistic on GKP long term from a pure TA angle?

Edit: I should elaborate, I know most here are looking for shorter term trades, Remos 123 low (if/when it happens will be a shoter term trade, F4T's (great posts thanks) bullish harami gives possible prices up to 117/118 on the monthly chart. I just wondered if anyone else looked medium term or longer with TA ad in particular GKP.

hi
The 2 has not yet formed yet....
The price has to go lower from current levels for that to form.
ill post a chart up when i see a potential 123 low formation

Earlgreyhot wrote: remo,
Thanks as ever for your views.
Hopefully not too dumb a question here, but of the 123 formation I can clearly see the '2' is last week's 42/3, but what is your '1' SP at the moment? For that are you going right back to the mid-80s high seen in mid-to-late August 14 and waiting for the SP to clear that level before going long??
Many thanks and best regards to all,
Mike

The 123 low formation is not just a short term trade, it could signal a change of trend and become an early entry for a long term trade.