GKP

surpised there where no charts on this thread...anyway I was hoping for 141 to "invest" and missed the 161 be quick trade....I do think a pullback to 202 likely, but think 260 test will be met in due course. (Edit..muppat how did I not see the one just below from Mr Jackozy!)..either way we both seem to think 203 offers a bounce trade

Agree that 202/203 is likely target for a bounce per my Friday post, being MA200 and horizontal support from 21.11.12. I would limit any initial bounce to 217.50 though as that will need cracking again. 230 will wait until Feb IMO.

The top reversal pattern has played out beautifully going into this week.

F4T

Yep, agree with that. I'm also expecting a bounce from 203p to test 215/217 before a wave C down to 195/187.

Beyond that I also agree that 230p is probably the most important price level for GKP now and I expect it to provide resistance and support a number of times assuming that GKP continues long enough for it to play out.

Tradesmarter wrote: surpised there where no charts on this thread...anyway I was hoping for 141 to "invest" and missed the 161 be quick trade....I do think a pullback to 202 likely, but think 260 test will be met in due course. (Edit..muppat how did I not see the one just below from Mr Jackozy!)..either way we both seem to think 203 offers a bounce trade

hi tradesmarter
Your not a muppet ,I moved your post as it was in the general chit chat posts for GKP from last week.
Sorry about that.

Hi Jackozy,

sp pierced / bounced off 208/209, the 61.8% fib retracement of the last 203 move yesterday. I expect to see 203 by wednesday personally as it was pierced and the reversal is still in process.

F4T

Jackozy wrote: Yep, agree with that. I'm also expecting a bounce from 203p to test 215/217 before a wave C down to 195/187.

Beyond that I also agree that 230p is probably the most important price level for GKP now and I expect it to provide resistance and support a number of times assuming that GKP continues long enough for it to play out.

Short term H&S forming on the daily, neckline at ~211. A close below this points to sub 200 once again. Rising trendline from 164 also breached today.

Well, the 203 bounce happened at 207 but sp failed to break the 217.50 resistance, which was bearish.

S&P500 will hit a wall at 1505 soon spelling a retrace in all markets IMO. Let's see.

GL
F4T