BP - BP.L

Totally agree with you TF.
I have been very good with following plan, but sometimes when I see markets just keep going up,tempts me to break the rules...
Thanks for your comments
I think I am still struggling to read the charts properly
Ta
G

bp - daily.
uk.advfn.com/p.php?pid=chartscreenshotsh.../3wcGbblQmwJmC5vCWc=

Looking at this closely....the more i look at it....the more bearish it seems to look imvho.

See the two gaps lower....one effectively below the key 200 day ema line....
the second gap lower as it was fighting to hold on to the 50 day ema line...
Now it seems to be hanging around the 250p support area.....never a good idea to retest a support....

The rsi....is also below the 50 neutral level which is also indicative of more downside...
Seems to stock specific....as the main markets and crude have been doing ok.....

Lets see....i think 170p looks very possible here...if it loses 250p and stays below that number...

I think caution here with bp.....imho
I see what you say to add more if it drops.....something i used to do quite often....but it rarely works out well....
Personally i'm trying to change the why i trade....
i'm making an effort not to ave down on losers....and trying to avoid stocks that are not technically bullish....
Instead looking to add to winners into strength
That way i would on the right side of momentum...(hopefully anyway)

atb, wdik, dyor,
trendfriend

Took a punt, lets see how it plays out

bp - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...MZXNL73slXYvLKE34%3D


either 400p or 170p....one of those should get hit
This is a long term bearish stock....no real evidence its turned bullish imho....the recovery rally seems to be stalling....
it could still continue higher and 410p can happen...it needs to hold 250p and push above 312p or 400p.

If 250 breaks then 170p is possible while below 250p....

lets see..
atb, wdik
trendfriend

Almost pressed buy button yday at 251p.... If it goes down I could buy more, and if it goes up, i can sell in profit.. but I didnt

Happy trading all.
ta
G

bp - daily
uk.advfn.com/p.php?pid=chartscreenshotsh...bHi3hC9BfuBogRw9A%3D

this is under pressure.....250p may hold....but any longs need tight stops imvho.
If 250p fails....sub 200p possible imvho.

atb, wdik, dyor,
trendfriend