GKP

Hi WS,

it was a statement of my opinion

Agree that the clearer they are, the more traders will play em (I presume you mean the neckline), but the more that play them the more likely they are to play out nicely IMO.

Cheers
F4T

One to keep an eye on post its dip this morning. Up against downtrend resistance on the 4H.



dl.dropboxusercontent.com/u/24866576/Oct...td%20301013%204H.png

M.

This bounced of the support today..If you look carefully on the chart you can see how 166 has been strong support .
For the bulls to take control GKP has to finish above 186.25.A finish above this could open up 245 again??


dl.dropboxusercontent.com/u/4899609/gkp6thnov.png

Thoughts on the price action? WS I noted you said 154/7 needed to hold on a daily/weekly closing basis.

155 close yesterday so just held on the daily but sentiment seems at an all time low so not looking great?

HI Pez - 161 was the 1st level, now below 154. daily needs to turn and get abv 160/1 or the possibilities of 141 remain in sight,assuming price now hold below 154 and takes out 151/52.

rgds WS

IMHO 140/1p is the only sensible place to attempt to catch the bottom of this knife, but much better now to wait for a 123-low set-up if you can. Here's the weekly showing how the long standing support at 141p meets the main uptrend from the 10p days at that level in the next few days:



dl.dropboxusercontent.com/u/20815047/FTS...KPweekly12_11_13.png

If that trendline goes on a closing basis then it's goodnight Vienna to £1+ IMHO and bonjour to 87p or even 64p (which still might come after a bounce according to one wave count option).

Fundamentals? What are they??!!