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TOPIC: BP

BP 02 Oct 2013 09:59 #1

ronnie OFFLINE Administrator Always look on the bright side of life! Posts: 2218 Thank you received: 1554 Karma: 72	Looks like this has broken through main trend-line.
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BP 30 Sep 2013 11:02 #2

ronnie OFFLINE Administrator Always look on the bright side of life! Posts: 2218 Thank you received: 1554 Karma: 72	Gapped down today and heading towards main trend-line, one to watch.
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BP 21 Aug 2013 13:36 #3

remo NOW ONLINE Moderator Posts: 3079 Thank you received: 5561 Karma: 113	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

Lowema OFFLINE Fresh Boarder Posts: 3 Thank you received: 3 Karma: 1	HI Remo, Does BP not have Major support at the 415p area? Thanks
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BP 21 Aug 2013 10:06 #5

remo NOW ONLINE Moderator Posts: 3079 Thank you received: 5561 Karma: 113	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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BP 07 Aug 2013 09:26 #6

ronnie
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Always look on the bright side of life!
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This has gapped down today and approaching trend-line, so one to keep any eye on.

Information purposes only, Do your own research,
All share trading carries risk,
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

redchilly OFFLINE Senior Poster Posts: 589 Thank you received: 1107 Karma: 31	Follow up chart 11/12 Closed half today. SL for the rest moved to below yesterdays low (462.93) Don't like today's red candle engulfing the whole green body of yesterday's candle Trade is in profit and RISK FREE
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BP 09 Jul 2013 22:09 #8

redchilly OFFLINE Senior Poster Posts: 589 Thank you received: 1107 Karma: 31	Follow up chart 6/6 trade still on going
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BP 08 Jul 2013 23:54 #9

gclark25
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To further add to this post - take a look at the Weekly chart below.

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.

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:

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

redchilly OFFLINE Senior Poster Posts: 589 Thank you received: 1107 Karma: 31	I H&S 4H chart Long today @ 458 SL below the gap and matching lows on 5th of july @ 452
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BP 04 Jan 2013 08:19 #11

longterm_view OFFLINE Junior Boarder Posts: 327 Thank you received: 294 Karma: 10	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?
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