GKP

F4T - Cautiously bullish, there seems a clear count up and maybe now it's due a correction for wave 2... But that's only if the count down is right and the bottom is in. So could be the classic case of sell before news, as it could well be pretty much priced in after the 100% rise. I'm guessing something like this....though maybe the count could be wrong?! Dunno. Need to see tomorrow's price action as I'm sure it will be telling - ready for the 13th.






screencast.com/t/F79ilHjSUVRc

P.S - I can't mention the reversal pattern.

F4T - What you thinking?

Thanks in advance!

Hi KK,

no change in my thinking from my last post. There wasn't much trading over 83 the other day, so that held for me.
I expect a retrace of at least 50% of the rise, so minimum to 64 which is also the 50SMA and probabaly to the 20SMA at 59/60. I am not a follower of EWT (but like to see it), so your wave count looks good to me.

I would like to see 50 tested again, but that is just me.

I do think that the bottom is in though.

Bearish harami yesterday gives you the hint of what's to come.

GL
F4T

Look out for a breakout, and short term btfd...

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

Regards,
Trendfriend.

Gap, ema50 and the bottom of the channel lining up nicely for tomorrow am



www.screencast.com/t/s7CYTCvijAf0

For a bit of fun, here's what I would like to see over the next day or so.

Today close somewhere near the top of the gap.
Gap down tomorrow at open (open below 75p) and then a further sell off.
That would leave an island top which spells doom. We don't see island tops or bottoms very often, so if it happens it will be special and they are usually quite powerful.

I don't bet on news btw.

F4T

PS: Bearish Harami looks like becoming a three inside down reversal pattern. Looks promising for the bears.