GKP

Thanks for useful summary, your chart files not opening WaveSurfer

work fine for me? Just click on the link.....no problem.

Yes, working fine now. ')

Hi Steve,
Did you buy yesterday like WaveSurfer did, not waiting for 123 low confirmation?
Interesting that it managed to close today (just)above yesterdays high.

Thought i'd share following on from my previous post today on piercing line reversal...

funnily enough i just traded a piercing line reversal but on a 15min timeframe on the Dow - you can see the similarities (candle) to chart in my last post....

the exception that gkp came off a daily timeframe and in theory should be more powerful (not seeing that at the mo)& the candle on the dow took out 50%= of the previous bar and continued pressure to upside......






rgds WS

Count wrote: Hi Steve,
Did you buy yesterday like WaveSurfer did, not waiting for 123 low confirmation?
Interesting that it managed to close today (just)above yesterdays high.

Hi Count,

As yet there is no confirmation that the bottom is in so any trades from this level still need to be treated with a great deal of caution imho.

Wavesurfer has a great skill in reading the markets, one that I'm still trying to learn. That means he can not only see when to buy but also when to sell and how to protect his position. At this stage, not only should any buys be treated with the above caution, but there is little to fear from this share running away as there is so much resistance ahead. Not only has a higher low not yet formed there hasn't even been an initial high not to mention a 123-low breakout.

Don't worry, when the time looks right I'm sure it'll get some coverage on here!