GKP

I'll give you fibs which rarely lie but as you alude, Elliot waves are only correct once the user has changed his count and his mind several times each a week as things develop. By the time the end game is reached all wave theorists claim success even though they were all at odds with one another throughout the process

What you can say about most TA is that it is correct and helpful a lot of the time, which is enough. It takes emotion out and puts planning in its place and gives an edge.

I am still content with GKP, even though it is misbehaving. It is those that bought above 200 that might be a little concerned.

Remo said the other week on this thread that he has seen many good companies turn bad. Most of the time those good ones were only good on the surface. IMO GKP is a long long way from being a good company, it just happens to have one good asset. So long as we understand that, we should be ok.

F4T

GKP continues to run exactly as predicted. Those that bought above 200 just have to be a little patient and all will be well. They are paying the price, for buying at the wrong price - expending nervous energy and biting their nails Keep the faith folks!

Hi diver993,

Can you confirm exactly what your prediction is/was. As I recall, you were looking at 161 as a bottom and Remo was waiting for 149/150? Yours was based on EWT and Remo's on a trendline?

I just want to be sure so as to congratulate at the right moment ;o)
F4T

PS: what happebed to Jackozy?

My analysis of EWT is based solely on fib percentages and the RSI. Predictions are therefore based on Fib Expansions and, obviously - and not to disappoint:) - you get a different answer dependent upon where you start from.
Go right back in time to when the SP was 4.55p, then to the high at 465 and we are looking at 161.



If we look closer in, to what I am labeling B; W; X then 129.51 is the target.

Now, I should say these are the initial targets: there may be extensions to the percentages. Worst case scenario being a 161.80% extension from wave B at 68.643. And, if it gets that bad then a few will have hung themselves as opposed to just a few tears



Looking close in now, the other alternative is an expansion of the current wave from X showing an initial target 157 and an expansion of 146.14.
I think that about covers it, except to say I accept no responsibility whatsoever for the accuracy of the EWT labels, which could well be complete and utter 'tosh' - but I understand them

So your prediction is either 161, 129.51, 68.64, 157 or 146.14.

I rest my case.

Do you have any upside targets?

PS: RSI has back tested, for what it is worth......

If you wish to look at it that way then so be it...I prefer a more considered view: the first target being 161, the 129, and worst case 69 - just like using supports. Using this method keeps me on the right side of the trend which I consider all important; and has proved extremely accurate over the last two years.

I think we should just accept 'different strokes for different folks'!