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TOPIC: BP

BP 02 Oct 2013 09:59 #1

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Looks like this has broken through main trend-line.

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BP 30 Sep 2013 11:02 #2

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Gapped down today and heading towards main trend-line, one to watch.

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BP 21 Aug 2013 13:36 #3

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Lowema wrote:
HI Remo,
Does BP not have Major support at the 415p area?

Thanks

Hi lowema
Yep it does. So thats where the target should be. Theres a gap support also at 412 so that area is the area to look to go long . ;)
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BP 21 Aug 2013 13:15 #4

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HI Remo,
Does BP not have Major support at the 415p area?

Thanks
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BP 21 Aug 2013 10:06 #5

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This looks like its broken out of the trading range.Recently it also broke out of the long term trend line. This could go towards 400 area if it finishes below 437. The rsi is in the oversold area so risk of a bounce.
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Last Edit: 21 Aug 2013 10:08 by remo.
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BP 07 Aug 2013 09:26 #6

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This has gapped down today and approaching trend-line, so one to keep any eye on.

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Ronnie
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Last Edit: 07 Aug 2013 09:27 by ronnie.
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BP 11 Jul 2013 21:09 #7

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Follow up chart 11/12

Closed half today.
SL for the rest moved to below yesterdays low (462.93)
BP3.png


Don't like today's red candle engulfing the whole green body of yesterday's candle
Trade is in profit and RISK FREE
dyor
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BP 09 Jul 2013 22:09 #8

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Follow up chart 6/6

BPtoday.png


trade still on going
dyor
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Last Edit: 09 Jul 2013 22:13 by redchilly. Reason: typo
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BP 08 Jul 2013 23:54 #9

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To further add to this post - take a look at the Weekly chart below.


BP_-_WEEKLY_-_8-7-13.png


Support wise we have hit a clear long term oblique channel. The only issue I have with this is a narrow channel as well as the horizontal resistances above. but to me it looks like a solid Support with varying targets above. Maybe naive to say this, but technically speaking, I just don't see this breaking that oblique support - but I guess in this game, anything can happen.

The below chart is a closer look at the daily and what seems like the potential reversal point.


BP_-_DAILY_-_8-7-13.png


To me this looks like a possible 1,2,3 formation, but its not as clean a break as I would like, so a look closer into more recent price action via the 1H chart shows me this:


BP_-_1H_-_8-7-13.png


Is this a channel rather than a 1,2,3 breakout? Recent action seems to be showing some resistance at the parallel oblique resistance line. The 15M chart is showing potential double top with bearish diverging RSI.

2 scenario's for me -

1. It breaks out of this mini range confirming a 1,2,3 breakout

or

2. It respects intermediate resistance and heads towards oblique support.

In the case of scenario 2, I would look to go long also with a stop below the recent low.
In scenario 1, a clean break of 463 (Previous R/S level as well as oblique resistance) indicates a potential move to 484 imo.
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BP 08 Jul 2013 19:18 #10

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I H&S 4H chart
image_2013-07-08.jpg


Long today @ 458
SL below the gap and matching lows on 5th of july @ 452
dyor
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BP 04 Jan 2013 08:19 #11

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Opened above weekly downtrend line, looks like it could be testing it now.

Weekly
dl.dropbox.com/u/21384991/BP%20Plc4.1.w%20%28DFB%29.png

Daily
dl.dropbox.com/u/21384991/BP%20Plc5.1.d%20%28DFB%29.png

Daily Close
dl.dropbox.com/u/21384991/BP%20Plc%205.1...lose%20%28DFB%29.png

Problem have is where to place the stop? :unsure:
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