GGP Technical analysis

[Monty]

Well TA aside its less than a couple weeks away from the Newcrests June 2022 Quarterly Results, so you would expect a rise leading up to it but we shall see

[Monty]

You really can splice it up many different ways, offers many interesting looks

[Monty]

If we can establish back above the 100dma for the first time since Jan 2021 that will be cool

[Bottle Rocket - Liam]

Go back further there’s better lines from the left lower.

[Monty]

Go back further there’s better lines from the left lower.

?

[Bottle Rocket - Liam]

Down and Left... #Bullish

[Mremc2]

Hi Monty, any pointers on how high up in price needs to go to say yes it is a breakout of the downward channel? Because the downwards channel continued after the significant rise around Oct/ Nov 2021 well above the 100 DMA. Thanks Mremc

[Monty]

Ok youre doing a log chart

Your chart has a couple touches

You could also draw this in

The trend lines I prefer have multiple touches, confirmation ,two touches is a light suggestion, little more than a guess

[Monty]

Hi Monty, any pointers on how high up in price needs to go to say yes it is a breakout of the downward channel? Because the downwards channel continued after the significant rise around Oct/ Nov 2021 well above the 100 DMA. Thanks Mremc

Well, around the PFS price did actually break out and remain out and that resistance became support

Actually looking again with the 50/100/200 I spoke too quickly, the 50 hasn't even crossed back over the 100 yet

[Costa]

Weekly.
Notice it broke below the 200SMA but reacted well and now it is acting as support and pointing in the right direction. Also broke and holding above the 20SMA. Will we attack the 50SMA in short order, time will tell.

Daily (1)
With Ichimoku. I like this one because it shows something slightly different is happening compared to previous failed breakouts. It is only a slight difference, but we have in this instance broken higher on 2nd candle and also its upper range seems to be acting as support. We also have the crossover projected. Game on!

Daily (2)
This one is showing a 113 as an extension on the fib. Typically within harmonics this is seen as a failed breakout (either way) and corresponds with potential oversold and Wyckoff spring then retest. A reaction then anticipated and looking ok for the spring...next re test? Success, we'll see.

Loving the skirmishes taking place. Great entertainment and really good few days.

[_J_C_]

Weekly.
Notice it broke below the 200SMA but reacted well and now it is acting as support and pointing in the right direction. Also broke and holding above the 20SMA. Will we attack the 50SMA in short order, time will tell.

GGP_2022-07-27_20-22-18_b8b97.png

Daily (1)
With Ichimoku. I like this one because it shows something slightly different is happening compared to previous failed breakouts. It is only a slight difference, but we have in this instance broken higher on 2nd candle and also its upper range seems to be acting as support. We also have the crossover projected. Game on!

GGP_2022-07-27_20-27-22_40f1c.png

Daily (2)
This one is showing a 113 as an extension on the fib. Typically within harmonics this is seen as a failed breakout (either way) and corresponds with potential oversold and Wyckoff spring then retest. A reaction then anticipated and looking ok for the spring...next re test? Success, we'll see.

GGP_2022-07-27_20-35-23_87487.png



Loving the skirmishes taking place. Great entertainment and really good few days.

Thank you for sharing.

Nice to see some true information being shared, again.

[Bottle Rocket - Liam]

Ok youre doing a log chart

Your chart has a couple touches

You could also draw this in

logoof.jpg

The trend lines I prefer have multiple touches, confirmation ,two touches is a light suggestion, little more than a guess

Maybe the image quality is poor, but if it doesn't touch more than three times, I do not draw it.

Plus your other line looks like the infamous BBTL that I drew back in 2020. I am sure we will touch it again one day.

I Just use the charts for buying the top, I leave the rest of the witchcraft to the rest of you.

[Mremc2]

Thanks, can't say I grasp the nuances. What I see, simplistically, from this link below is that the share price has crossed the 100DMA at 12p and within touching distance of the 200DMA at 13.6p . Promissing but any golden crosses are some time off!

https://www.marketscreener.com/quote/st ... arts/?tw=1

[Costa]

Lots and lots going on and so many ways one can look at it depending on ones on view, biases and personality. And of course ability to interpret what you see. We're not lost at sea anymore put it that way.

As for golden crosses, again all sorts of things going on in different time frames.

Think of it like this, one wouldn't see the tomatoes whilst the seed does its thing, you got to know what and where to look mate.

[Monty]

Perhaps a rounding bottoming pattern? low volume, neckline

If price came back down to test you would like to see it now as support

It does finally feel like the bottom has come in.. famous last words( and not just because of TA of course)

[Mremc2]

Paddy posted a Wychoff chart a short while ago - I'm looking for the likely first pullback after the bottom. Spymaster25 suggested it could be at around 14.50p - he stated:

"it wont rise every day. factor in a bit of a pullback at some point. probably around placing price" (8:33 am on LSE 28/07/2022)

(My first attempt at an attachement - hope it works)

[Monty]

Paddy posted a Wychoff chart a short while ago - I'm looking for the likely first pullback after the bottom. Spymaster25 suggested it could be at around 14.50p - he stated:

"it wont rise every day. factor in a bit of a pullback at some point. probably around placing price" (8:33 am on LSE 28/07/2022)

Screenshot 2022-07-28 at 14-39-21 Wychoff-Accum.png

(My first attempt at an attachement - hope it works)

I started the thread off by saying "(tbh I dislike most technical analysis)"

Technical analysis I like is when you can draw in a trend line that has multiple touches, then you copy/paste that line and it fits elsewhere perfectly to create a channel. The more touches the line(s) have the more confirmation its right and not just subjective

Stuff like Wychoff and those type patterns to me are often way too subjective, the image you shared just looks like nothing to me.. drawn some lines over and call it Wychoff

Of course let us not forget this current positive SP is all down to the 5% and the price being favourable, if NCM got it at their offer who knows what SP would be doing right now

[Mremc2]

Hi Monty,

I really welcome your comments particularly this statement:

"Technical analysis I like is when you can draw in a trend line that has multiple touches, then you copy/paste that line and it fits elsewhere perfectly to create a channel. The more touches the line(s) have the more confirmation its right and not just subjective".

I also note you state "two touches is a light suggestion, little more than a guess"

Good tips, I'll try to remember for future TA charts anywhere.

Thanks Mremc

[Monty]

I also note you state "two touches is a light suggestion, little more than a guess"

I say that because it can get to be like this for example

You can draw a line off the two lowest points, then SP drops and there's a new lowest point and you draw a line in, drops again so have to do a new line etc

If the all the previous lines didnt hold up to much why is the new line likely to be meaningful?

You want lines that have been tested and tested again and have been shown to be a strong support or resistance

[Hydrogen]

I also note you state "two touches is a light suggestion, little more than a guess"

I say that because it can get to be like this for example

lowestpoint.jpg

You can draw a line off the two lowest points, then SP drops and there's a new lowest point and you draw a line in, drops again so have to do a new line etc

If the all the previous lines didnt hold up to much why is the new line likely to be meaningful?

You want lines that have been tested and tested again and have been shown to be a strong support or resistance

To be fair you picked perhaps the most grossly manipulated chart of all there, Monty. Did you hear about the recent JPM gold manipulation and "mob racketeering" trial in Chicago... ? They should be getting convicted pretty soon.

Kinda takes the 'human emotion' part away, which essentially charts and TA ultimately represent:

https://twitter.com/BullionStar/status/ ... 6758993920

https://www.bloomberg.com/news/articles ... #xj4y7vzkg