GKP

diver993 wrote: J, check out your RSI and I think you'll find the triangle has been invalidated: today's reading is higher than Feb 4th; if the triangle were to form the RSI would take the same reducing form as the SP.
After so many false dawns it will be good to see this come to potential;)

Can you explain what you mean please Diver? Today's candle was the 4th Feb. Also, I don't see how RSI can invalidate the possibility that there could be a descending triangle in play - the only thing that can do that is a price breakout surely? RSI could give a clue to that happening but price is king...

240p, 148.75p, 196p, 149p....descending highs with flat bottom. It's a possibility is all I'm saying. I've seen these break to the upside before too.

Just my observations.

J, apologies mate. Talking at cross purposes here: I thought you were referring to a much smaller triangle. The large triangle opportunity you highlight is a possibility though, due to it's location, it would require some drastic relabeling, at least on my part, to accommodate as triangles usually only occur in wave 4's or B's or as connectors in ABC's.
The RSI is a great little tool for confirming triangles as it will religiously follow the pattern of the triangle: if the SP goes up then so will the RSI - never the other way around. Handy!

A look at what maybe coming


dl.dropboxusercontent.com/u/7238706/Gulf...Ltd%20%28view%29.png

...the little blue boxes are the interesting targety 'bits'; the first one is a fairly broad target to accommodate two series of fib %'s but I'm sure all 'long-termers' will immediately identify familiar supports/resistances therein. There is a third target just off the top of the screen and, as these are all percentage based, they get broader as the price increase. This last target looks at an area between 571.83 and 676.96. An area to suit all if I might suggest

May God bless her and all who sail in her!

Possible 123 low forming ???
One to watch...
dont jump the gun


dl.dropboxusercontent.com/u/4899609/gkp11thfeb2014.png

Uhmmm, no post about this today?

Bounced off multiple supports and closed above the main uptrend with a bull hammer after a nice fade down below. I've been looking wave count possibilities here and I think the failure of the bounce off 149p to reach 179/181p was actually bullish and left that as a possible 4th of wave Z (see earlier weekly wave count). If so then this low (with a bullish divergence) could have been the end of the massive triple three correction from 450p. Still options here but looking good as long as it confirms in coming sessions. Here's the chart:



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily14_02_14.png

Could it be at last?....

Lol! Sorry folks! Wrong chart. Here's the right one:



dl.dropboxusercontent.com/u/20815047/FTS...GKPdaily14_02_14.png