GKP

WaveSurfer wrote: haha J - thought id posted the monthly chart yesterday ...

here's today updated ...

dl.dropboxusercontent.com/u/40497882/gkp_monthly_June13.JPG

Yep - it is also still possible that the rise of the last few days was wave 2 up of 5 of C down. As remo says - the down channel is still controlling this.

This ones currently on the 61.8 fib area from recent low to high...
Ive gone long with stops below the low.
This move down is normal after a rally so im taking the gamble .
Stops are below 126.....so 14 points risk..
Stops are a must and if it get bailed out then atleast it can possibly protect you from a bigger fall.
if it does go below 126 then that will open up the 80s hence the stop.



dl.dropboxusercontent.com/u/4899609/gkp28thjune.png

This is the level I always look for so am in too.

My chart as at 28/06/13 close. (apologies, Fridays candle does not appear to take in the post auction close)

uk.advfn.com/p.php?pid=chartscreenshotsh...53D&symbol=A%255EAPT

Friday afternoon was very bearish. The 61.8% fib of the last rise was penetrated and a close below was certain but for the odd auction, but it is month end.

The candlestick formation from Tues to Thurs is a 'bearish two crows' and this was confirmed by Fridays black candle.

www.candlesticker.com/Pattern.aspx?lang=en&Pattern=3210

Our trend channel is still in play IMO, once again resisting a close above resistance on the last move. I expect to see 132.50 again this week before any rise.

Support should be found at our long term trendline, but being back in the 129 - 132 area so soon is not at all promising. Resistance around 147/148 being trendchannel resistance and MA50.

Something has to break in the next week. Either the trend channel resistance or the long term support as we are approaching a triangle apex.

This looks like its finally breaking out
This needs to finish above 158 for the bulls to take control.
It looks like the entry from the 61.8 fib played out well on this It should be a free trade now..


dl.dropboxusercontent.com/u/4899609/gkp5thjuly.png

Yep, a close above 157.75 should do it. Next target would then be 166, then 188/9 for a rest. Even if it fails we have a higher low and higher high, which is positive.