GKP

Hi folks, interesting reading today's views on GKP, nothing good old GKP debate to start the day

Anyway surprised to see some still bearish here, the time for being bearish (and off course, i could be totally wrong) has now gone, its time to be bullish, the setup is bullish, but anyway i wish everyone the best of luck, whichever your trading this.

With regards to trendlines, the normal way to draw trendlines is using the tops of the Candles(price), imho.
Any other way requires use of ones imagination.

Closing prices can be used, but this way has a problem, in that the close is not always where it should, use yesterdays GKP close for example, it was trading at around 76p at 4.30pm, the UT and closing price was actually 79.5p!!
Which was approx where the trading kicked of today.

Sometimes the close is the other way, so its trading higher and closes lower,for no real apparent reason. this is the problem with using end of day prices in charts imho. In any case i guess, the way that works best for you, is the best way to draw your charts.

ATB,
Trendfriend.

Trendfriend - Absolutely - Whatever works best, there is no wrong or right. I always start on the wick of a a swing high or low and plot the line to the most touches. But that's just the way I've been taught.

All good!

GLA

Diver - looks like the GKP middle finger to me when viewed at full screen

The close and the open are the only two reliable price points and are confirmed by the relevant exchange.
Most amateurs use the shadow for trendlines, and they do have some relevance, but secondary.

I went through all this before, so won't repeat. Each to their own.

TF, it is quite normal to be bullish on one time frame and bearish in another. If you remember I called the bottom correctly some weeks ago. Peaks and troughs. Peak at 89.50, trough at 42/43, peak at 73.75 (missed there but hey ho). No one is right all the time as this is an inexact science, we can only use our judgement. I have no holdings above the current levels or below, so I have nothing to lose be being short term bearish here.

KK, cheers for the Prorealtime link. Looks good.

You're very welcome, it costs a fortune for a subscription for live prices etc, but what you get for free I find is unbelievable and end of day is good enough for me. Like I said if you're doing more than 2 trades a month, even if only a penny per trade, you get it free with IG otherwise they charge you about £30 quid a month, I think, from memory, just for the privilege. You can get it free for a month's trial though first to see if you benefit from the live charts and prices on the shorter time frames 5 minute, 10 minute, hourlies etc.

You can also save different templates/page layouts etc - I think you'll love it.

I look forward to seeing your first post with the new software.

KK

Love it Monkeyz, love it! D) Much better than a trendline - lol!