GKP

Hi Woody, technically, it can't be a hammer as that pattern happens at the end of a down trend. This seems to be a clear sideways move, so no hammer.

RSI has broken... symmetrical triangle has to break out within the next few sessions too. However there does appear to be a lot of support in the high 80's for this...

Given that the main trendline and support are around 82p, would people wait for these to be broken before shorting, or open a short on the symmetrical triangle break (if it does indeed breakout downwards!)?

Cheers
Woody


dl.dropboxusercontent.com/u/102203695/Sc...ots/GKP-10-06-14.jpg

This could hit the bottom of the descending channel, around 78p falling daily.
uk.advfn.com/p.php?pid=chartscreenshotsh...GA%3D&symbol=L%5EGKP

i will go long at the falling trendline(78p level today) for short term trade only. As other indicators look bearish or mixed here.
This could jump 10-15% of the trendline for a quick trade, with tight stops below.

This is a close up chart.
uk.advfn.com/p.php?pid=chartscreenshotsh...FI%3D&symbol=L%5EGKP

Regards,
Trendfriend.

I've gone long here.

Lets see if the trendline holds

I think that anyone putting their money into GKP or GENEL for a quick 10% is very brave given the capitulation that could rapidly unfold if the crisis on the ground isn't quickly neutered.

Hi Bonobo,what exactly does that statement have to do with charting?
It seems much more like an unsupported and subjective opinion to my eye.
Somehow i managed to thankyou but that was not my intention