GKP

its hanging around 43 area ...so risky to go long

This looks like its getting ready to drop lower so careful

Let's see what happens over the next week or two. IMO we are at a good entry point, but it is always risky trying to call a bottom before a reversal is confirmed, short term or otherwise. 42/43 gives 16/19% on a retest of 50 - that is my maths. A good return for a little patience.

Of course if you stay out then there is no risk of losing capital, and that is always a good philosophy in turbulent times.

I am not suggesting others follow.

GL all.
F4T

Impressive call again F4T.

Thank you for posting your thoughts and well done.

Hi all,

in preparation for this week I have re-done all my charts since we now have a confirmed bullish harami on the daily. First resistance of 54.25 held nicely on Friday. My aim here is to show key price points on the way up assuming the rise continues. I won't go into supports since these have been discussed to death down to 10p. IMO general markets in Europe should remain bullish on Monday but there is still uncertainty whether this will continue or not. That is the caveat.

Monthly:
uk.advfn.com/p.php?pid=chartscreenshotsh...Os%3D&symbol=A%5EAPT

Month not finished so bear this in mind. I drew fibs from the last two swing highs, 116.75 and 240.
The price points are clear and confirmed by at least two indicators each, so I won't elaborate; 60/61, 88/89 and 117/118. 60/61 is also the breakout point from the falling wedge.
RSI at support and in the apex.

Weekly:
uk.advfn.com/p.php?pid=chartscreenshotsh...hdQs=&symbol=A%5EAPT

Nice volume the past two weeks. This indicated a bottom was near or had been reached in the low 40's.
Bullish divergence on MACD and RSI.
Breakout point from falling wedge at 60/61 is a convergence of three trendlines, so this area is strong resistance.
20week sma at 78.50.

Daily:
uk.advfn.com/p.php?pid=chartscreenshotsh...He88=&symbol=A%5EAPT

Breakout point from falling wedge is 60/61.
20 sma is at 59
Larger falling wedge (red) crosses 89/90 area towards the end of October.

That's all on this.
F4T

The links aren't working for me unfortunately.

I guess we are now looking for confirmation of the 1-2-3 low? Hopefully we are at the end of the down trend.