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TOPIC: BG.

BG. 21 Nov 2012 12:05 #51

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I've just closed my long at the 1050 breakdown point for the last drop:

BGdaily21_11_12.gif


dl.dropbox.com/u/20815047/BGdaily21_11_12.gif

I'm looking to re-enter at the 61.8% Fib of the 991 to 1050 move (assuming it does retrace from here that is).
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BG. 21 Nov 2012 00:16 #52

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Have to agree with diver. These so called experts are so out of sync it make me wonder if they actually ever trade themselfs. :woohoo: :evil: :evil:
I would really be surprised if they did any trading. All they do is write .Do they have a track record in technicals before they are hired to do this??
My golden rule is Never listen to anyone especially brokers. As diver just highlighted. ;) ;) ;) ;)

Anyway,
It should be a free trade for all that have entered this share now as price has moved 30 points in your favour.
No excuses for losing now. B) B) unless some thing unthinkable happens .. :sick: :sick: .better not put the kiss of death on it.... :evil:
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Last Edit: 21 Nov 2012 00:19 by remo.
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BG. 20 Nov 2012 18:08 #53

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Just goes to show how blind the folk at Trading Central are: the RSI has been below 30 since Oct 31st, the exact same date as the emergence of the bullish divergence they are looking for and failed to see. If one wants to be 'belt and braces' then the correct move would be to wait for a retest of the first pullback but, so long as you have a tight stop in place, enjoy the ride.
Remember what Remo always says - 'listen to nobody and DYOR'
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BG. 20 Nov 2012 16:45 #54

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Read this on the bb today. Opened trade this morning and happily up as market closes - thanks

BG Group plc (BG) shares are said to be oversold by analysts at Trading Central who note the RSI on BG's share price charts is oversold.

That said, it is too early to call an upmove for the stock at this time, and the "downside prevails as long as 1089 is resistance."

"The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative," says a note from the technical specialists.
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BG. 20 Nov 2012 08:47 #55

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Hi Diver993,

I am not familiar with fib expansions.

1948.50p target? Entirely possible over a 18 month 2 year cycle.

I know BG. have a pipeline of discoveries they will start producing from over the next few years.

The fall was because they don't pay big dividends and when they announced profits to be static for the next year the market took profits.

But I see this share as a good opportunity in short and long term.

Thanks for your chart.
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BG. 20 Nov 2012 07:47 #56

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screencast.com/t/i3iqlvUXn



So, how good are fib expansions eh?? The current wave C forecasted at 980; the actual made 991. Of course, it might not be over yet but it did turn yesterday:) The next wave up, hopefully the one we are already in, should make a minimum of 1948.50, according to the fib expansion - if I've got it right:) Obviously that will be a combination of, probably five moves; it will not be a straight line progress.
It will be interesting to keep an eye on this one and see how it progresses :whistle:
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BG. 19 Nov 2012 16:16 #57

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This is looking pretty good now with a likely hammer today right at the 61.8% Fib and multiple support. Here's the weekly wave count I posted on another thread:

BGweeklywavecount19_11_12_2012-11-19.gif


dl.dropbox.com/u/20815047/BGweeklywavecount19_11_12.gif
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BG. 19 Nov 2012 10:52 #58

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Weekly chart



The main trendline is at 955...so if you can put the stops below this as its an important line.

DYOR
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Last Edit: 19 Nov 2012 10:53 by remo.
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BG. 19 Nov 2012 10:48 #59

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For those that follow BG
This is in the support zone now



Stops have to be below 966. This is a must.
The risk to reward is good on this one.

DYOR
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BG. 16 Nov 2012 08:26 #60

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Selling.

As remo said previously, you sell at resistance points. I have these at 1105.7,1177.9. (IG)

I have tried to do the fibs the other way around, to get targets? Is this ok?

The 50% fib and the horizontal support are at 1177.9. 2 areas of resistance.

dl.dropbox.com/u/21384991/bg%20chart.png
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BG. 15 Nov 2012 13:17 #61

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Hi elena

My problems are normally related to being too accurate.
So in this case i went for the fib at 1005 and this whole area is support. my stops are below 966 so thought that the risk reward was worth entering as ive missed entries before from being to accurate.
Ive traded BG quite a few times in the past from this area and know its qualities so dont want to miss it due to a few points.
Your right 1000 is an important level .

Stops are a must .
Anyone that dont use stops should not be trading.

Supports....998,,984,,966
as can be seen there are 3 levels of support near by so its best to have your stops just below them

dyor
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BG. 15 Nov 2012 12:37 #62

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remo,

don't you think 1000p will be an important psychological level and a trade that opens at 997p will certainly need a stop?
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BG. 15 Nov 2012 12:12 #63

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Also the trading range target is roughly 997
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BG. 15 Nov 2012 10:46 #64

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One addition to that already mentioned.

There is strong trendline support (closing prices) right on 1000 going back to 2004.

uk.advfn.com/p.php?pid=chartscreenshot&u...%2FkOiBjdyn9GfPVNPw8

F4T
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BG. 15 Nov 2012 10:25 #65

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Im already long on this from this morning...
Must say i was thinking about it for a while last night due to the gap down on the ftse that was expected.
My stops are below 970 so technically i think its a good trade with good risk reward.

dyor
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BG. 14 Nov 2012 16:24 #66

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best level to go long will be the 61.8 fib area and thats at 1004.Also the round number is strong support.
so worth going long at 1005

stops below 970 as quite a few support levels all the way to 970



also worth a long on first attempt basis

dyor
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BG. 14 Nov 2012 16:20 #67

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Supports are at 998, 995, 984 (gap) and 966 from memory. I'm going for the gap with 20 pip stop
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BG. 14 Nov 2012 16:18 #68

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Been a bit of a chat on this one on the iii Charts View BB.

My IG chart has major support at 982.65p

Yes please

Currently 1017p
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