GKP

the current move could setup an asc triangle breakout... close and hold abv 155...should see approx 10/15 pip move to upside...

so ranging 148- 155, and over time price range will tighten up till it brakes out....

also month end approches, work keeping an eye on the monthly chart & weekly charts.

starting to see some green shoots...

161/162 break abv like to see tho...

dyor.

here we are...breaking out... now key watch will be holding that line on any back test

quick chart

Yes, could be forming a 5th wave up from the 126p low. Downtrend resistance (from the 228p high) is at 165p today and there are 3 active P&F targets all within 0.5p of 165p. If it makes 165p then we should be good to go long on the retrace at c. 141/3p (61.8% Fib):



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily30_05_13.gif

How do I see this? The downtrend is broken after sp is 160-161p (my impression from previous chart reading, this 160-161p is resistance). Now it is 165p. If sp is higher than 165p, then downtrend is over. Pls correct me if I understand wrong.

correct OG..

most importantly, close abv 162 be a good start, a close abv 178 even better on monthly view- the result in doing so is it will put in an outside month reversal candle stick.. that be really nice, however lets not get ahead of ourselves yet... 1 more day to go and more important 161/162 day close required.

all imho

Cheers WS

This is testing that resistance channel again.
For GKP to move higher this has to break that channel.A finish above 164 would open up 190ish again.
The 164 level held on first attempt but the fact that its been hovering around that level for a few days bolds well for the bulls
Im already long on this from the 123 low breakout a few weeks back.Ill be adding once this breaks above 164 and finishes. So if its above 164 after 4.20pm may take a position with stops below 154.
dyor

dl.dropboxusercontent.com/u/4899609/gkp3rdjune.png