GKP

Perhaps we have just formed the "2" in a 1, 2, 3 low type breakout?
Looking to enter on the retest "3"

uk.advfn.com/p.php?pid=chartscreenshotsh...oQ%3D&symbol=A%5EAPT

Hi All,

Great run up from 42/43 but it was an easy exit for me at 73.75 last week (one of the breakpoints on the fall).The extended run in such a short time and touching RSI resistance was more than enough. The loss of volume following the spike confirmed.

The rise didn't make 77.50 let alone the long term downtrend line (currently ~88). I expect this to drift downwards until we find out how much hot air is circling.

We should see the mid 50's at minimum in the near future IMO (66.8% fib) but it could bounce a little when it meets the rising short term trendline (red). The 50% retracement point is at 59/60.

I'll wait for 50p and see if we get there again. If we do i'll probably wait further ;o). It's all about patience with GKP, always has been.

GL
F4T

Edit:
Just read Koolkeith's note after posting.
I note now the shadow downtrend line as resistance to the rise (I use closing); this does make things a little more interesting. There have clearly been alot of bets placed on 13th Nov.

Very well done with the trade F4T.

I got cold feet around the mid 50s after entering low 40s.

I wish I had been more patient. Hopefully another opportunity to come.

That's still an exceptional return Richard. Well done yourself.

54p, should be good support here, if it gets there.
I think its the best place to go long, as two supports at 54p.

uk.advfn.com/p.php?pid=chartscreenshotsh...wo%3D&symbol=L%5EGKP

Regards,
Trendfriend.

F4T "but it could bounce a little when it meets the rising short term trendline (red). The 50% retracement point is at 59/60."

Bloody good call again mate. I thought exactly the same as not only 50% fib but also bottom of the 34 day tunnel on my chart set up, add that with the trendline you had from bottom spike and closes = 3 reasons for bounce for me.

This is getting interesting now...hmmm! Post a chart later.

GLA