GKP

Diver

Will it 5 minor waves in major wave 1 and an abc in wave 2.

Hows the golf ?

SRB

Potential 123 low formation on GKP


dl.dropboxusercontent.com/u/4899609/gkp11thapril2014.png


This is what people should wait for before entering any share...This method stops you from catching a falling knife.
The entry level will be 110 ...
The buy signal has not activated yet so dont jump the gun. If it does activate put the stops below the 2 point....Its that simple.

good luck
remo(keeping it simple)

SRB,

Your supposition is correct but, those waves need not be straight forward and can contain extensions and complexities, especially if past performance is any guide.

The golf today was suicidal: the wheels not only came off but shattered. I am beside myself with grief

Have a great weekend and lets look forward to wave 3 without undue delay:)

SRB,

As an example of, not straight forward impulse and corrective waves, take a look at this chart for EUR/GBP....

dl.dropboxusercontent.com/u/7238706/eurGBP%20%28-%29.png
The (( B )) wave ending at 0.8815 is a 5 wave impulse but hardly the archetypal 5 wave move seen illustrated in the text books. The ABC that follows it is still in the making with an extension in the C wave. This is what I mean when I warn not to expect simple pattern follow structures. Hope this helps

Should we get the close above 110 I have the initial target at 125.67 which also coincides with the down trend line on the 17th April which is also previous resistance so interesting area to aim for initially.

www.screencast.com/t/WshggPwx

This is a closer view of the chart posted yesterday....
dl.dropboxusercontent.com/u/7238706/Gulf...%20%2812April%29.png

....it details the fib extension from the low at 82.00 > 109.00 > 92.12(yesterday). For an ABC one would expect a target of between 100 - 123.60%. For an impulse we should be looking for at least 161.80%. There is a low from May 8th 2013 which needs to be broken to confirm the uptrend. At the moment this is at 123.60% so, this move has either a little more to drop before moving on - doubtful looking at yesterdays candle - or it will turn at 126.38 and form an ABC, which could be part of the first wave in an impulse, or, it could steam on passed 126.38 to the gap area above the 161.80% between 120.62 > 143.00.

Interesting times ahead