GKP

Evening All,

uk.advfn.com/p.php?pid=chartscreenshotsh...0GMw=&symbol=L%5EGKP

I have been using my crystal ball to create a couple of scenarios using our descending trend channel to illustrate the downside possibilities of 87p and an upside option of 250 or more (?).

Essentially this vision sees a retrace from the recent 180 high to the 138.50 level support (at AGM date?), which is my preferred option currently. We then see a bounce to 166 being our recent favourite and the downtrend resistance which could conceivable coincide with the CC result). A favourable breakout here would take us to 250 (option B ), which is my subjective 100% valuation of GKP (I won't bore you all with detail). Unfavourable news might push the SP as low as 87 (option A)

The fact that Monday's retrace pierced the 61.8% level of the 129 move being 155 IMO indicated that the SP was unlikely to make a higher high on the next rally (i.e. would not break 80p). Sure enough it stalled at the 61.8% retrace level of the move down, being ~169. I expect that to be a peak and a lower low to form below 151.25. 138.50 is support from here and fits nicely into my fairy tale. A gap down at open tomorrow might confirm this possibility.


Note that the next move up to 166 resistance could form the right shoulder of a H&S where my red support line becomes the neckline. A break here (forecast at ~142 ) could send us to 87p.

All conjecture and neat and tidy, but I do see us at 138-140 in the next week or so. Let's see what tomorrow brings.

make me twitch a little...keeps stubbornly bumping at the 166, 167p level Waiting for my money to transfer to another account and being out of it makes me sweat a little

sky news reporting that a deal is about to be reached with gkp & board members

Here is the weekly updated charts & a daily one to throw into the mix - commentary on the charts.

my view remains bullish unless a close below 148 - 155 on a weekly basis & esp the low, i would like to see 182 get taken n hold for further upside

focus on price not emotions....feel free to share

GKP Daily chart




dl.dropboxusercontent.com/u/40497882/GKP...kout_20th%20July.JPG

Daily chart with Ichi





dl.dropboxusercontent.com/u/40497882/GKP...Ichi_20th%20July.JPG

Weekly close up



dl.dropboxusercontent.com/u/40497882/GKP...0July_close%20up.JPG

Weekly chart



dl.dropboxusercontent.com/u/40497882/GKP_weekly_20thJuly.JPG

Rgds WS

WaveSurfer wrote: lets get abv 166 and then 172 on bigger time frames 1st, for further confirmation...what we do know is gkp must not close below the recent lows.

if i'm right abt my count then the all times high should be seen at a minimum and perhaps more.

let's stick a fork in that weekly chart and let's use log scale - to see what it comes up with...lets use some fibs too...

maybe we go something like this...no point looking at blue sky until lower numbers are taken out, perhaps when approx 400/450p does come most may just cash in but the question then remains....will it be too early

dl.dropboxusercontent.com/u/40497882/GKP...othe_future_PIII.JPG

not a recommendation to buy of course & not intended to get everone excited... but i must look at the options based on a chart, just as we looked at downside targets previously....dyor.

Well, it failed to hold on to the 180p level:

picasaweb.google.com/lh/photo/o9LPyxWRsp...EZOI?feat=directlink

In again at 176p, I just hope it pushes on from here....any advice on a stop loss position here?
Not used to trading this one

dl.dropboxusercontent.com/u/7238706/GULF%20KEYSTONE.png

Well, this is my take on it. Obviously, could be wrong, but my next order is in as follows...

Long 169.00 (should be 168 really but have missed out too many times by 1p)
SL 162
Target 202 (but may close at 198)