BG.

The power of a 123 low in action
This is a free trade now so no excuses for losing

Possible 123 low for the short term forming???
If this goes above 1087.5 then im going long with the stop below the 2 point on my chart (1057)


This was in the interesting chart section for this week for a trend line bounce trade.

BG group looks like its getting ready to break out so worth keeping an eye out on this. This is from the interesting chart section
Ive been in and out of this share quite a few times from the initial entry at 1000.
If you look at BG chart you can see that this is going sideways right near the resistance level so its weakening that level the longer it stays hear. So increases the chance of a break out to the upside.
stops would have to be below 1137.

Could this be forming a 1 2 3 low, a break above 1090-1100 area would confirm.

dl.dropbox.com/u/43650856/BG%20Group%20-%203rd%20Jan.htm

I took my profits at 1080p and have not bought back in.

I see an uptrend line that is being respected on the daily.

I might buy at the next test of this line.

dl.dropbox.com/u/14595286/BG%2031.12.2012.JPG

On the fundamentals BG has large operations in Egypt that production is falling. Perhaps they don't want to invest further whilst the political situation is unstable.

They also have operations in the US where shale Gas has caused prices to fall.

I know this is a Charts View website and I mention these two items as they could provide bad news to depress the SP further.

But at 1000p this is still a very good buy with limited downside.

My chart has 983.1p as major support.

Wishing all Charts View members a Happy New Year.

A failed move to the upside tells me that there is more to fall and £10 could give way soon. I am currently looking at historical supports as I would like to ride this one up but there seems to be pack of moment at the moment.

The recent failure to break the highs could sometimes imply further falls.