GKP

Hi, new to all this..... trying to learn.

So are you suggesting this may be the rally which gets capped around 161p before back down to a lower low, like the 87p, 104p targets?

Thanks

Yes it's possible - taken from my previous post below. hope that answers your question....



Either wave C will complete @ the low Major A @88p or make slightly lower low to the previous 4 low – there that number again J @ 64p.

Alternatively this can end up being a failed flat:
occurs when the C wave fails to reach the ending point of the A wave (@88p). the market is so strong, that it takes off before the correction has fully completed – news pending ?

there is clear support in the region of 126-131 or @minor a of A @ 106-113p…. hmmmmm

i would also not discount the possibility of a truncated 5th. i watch and observe.

rgds WS

Hi WS Sorry don't understand what you mean by this?

WaveSurfer wrote: I would also not discount the possibility of a truncated 5th. i watch and observe

rgds WS

Hi Jackozy are you back in GKP again at this time and suggest 161 as an exit point? Got to admit to being tempted @127p yesterday almost bought

Regards Tej
PS Well done for selling SXX @28p

Hi Tj,

Re SXX, thanks. I thought it was a cast iron sell at that level. There were about 6 resistances all within 1.25p and would have been easy just to go long again on a close above 30p so not much lost even if it broke through.

Re GKP, no, I'm not back in. I'm still waiting as I don't see this downtrend as complete yet. I might even have a cheeky short if it gets close to 161p

We'll see...

Jackozy wrote: Hi Tj,



Re GKP, no, I'm not back in. I'm still waiting as I don't see this downtrend as complete yet. I might even have a cheeky short if it gets close to 161p

We'll see...

Ive tried many times to short GKP but my broker does not allow it. Its got some sought of ban on shorting it. Who do you use to short GKP ???????? If its possible..

On the basis corrective waves run in 3,7,11 etc, and this is clearly displaying 7 swings from X this could well be the bottom, especially as the fib extensions from both BWX and XAB both point to a finish in this area. There could, of course, be an extension to make this a triple complex correction which would consign the SP to the depths But, looking to the bright side this should retrace to the target area of 157-165 an from there, I hope, head north. Personally I wouldn't get involved in any trades until the 161 level has been tested and it is at this level I would expect to see the 123.

Interesting days ahead?