GKP

Should we wait on a closing basis for 109 or will intra day be enough?

I think it is always to be a closing basis (REMO Correct me if wrong)

AdeMcG,

For intraday trades you could look to go long on the pull-back, i.e wave ( iv ). Wherever that finishes - certainly not necessarily 91.75....

For anything longer term, this needs to close above 109, IMO. And that might include the wave ( iv ) trade referred to in the first paragraph the way the sp is currently moving

TA working beautifully here. Nice double breakout yesterday and follow through today. The signs were clear IMO.

Are you still waiting for 110 for bullishness Remo?


PS: Now is the time to be careful and think about profits. Whatever rises quickly often falls quickly. I can't see this closing above 110, in fact 110 is a good sell point IMO.

From I high of 108.50, the 50% retrace is 94 and the 61.8% fib is 90.50, so somewhere in that region to re-enter.

As always though, anything can happen.

F4T

Food4Thought wrote: TA working beautifully here. Nice double breakout yesterday and follow through today. The signs were clear IMO.

Are you still waiting for 110 for bullishness Remo?

Hi Skipper.

I will give some commentary here since I am following this retrace and no others have.

See hourly chart:

uk.advfn.com/p.php?pid=chartscreenshotsh...PsJ0z+OJD1xRxndFw08=

This demonstrates the stall at 85. RSI resistance and trendline resistance. We are also in the 61.8% fib area.This is a good sell point IMO.

A good attempt to garner interest with the RNS and it has brought a break of the important 82 level, but given all the above I will expect a retrace to at least 72.25 over the next week. My bet is still a retrace to 64 at minimum. I will test the water there.

Do remember that anything can happen.

Cheers
F4T

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MY, how the outlook has changed

My, how selective people can be lol.