-24 feb 2021 trading analysis BHP-24 feb 2021
trading analysis BHP
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
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long possition because price break from strong resistance level 77.71 and follow line white color to next strong resist 81,80 before pull back
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good luck, and happy profit
see you for next update
#keep learning bakkarianz metode
BHP/N trade ideas
Prime Number Bands 1- Trend analysis:
Higher prime numbers mean we are in an uptrend. When the bands are moving upward direction, the market has a Bullish Direction.
Lower and lower prime numbers mean we are in a downtrend. (If the bands are moving Downward direction)
2- Volatility:
Narrower bands mean stock price is less volatile.
Wider bands indicate share price is volatile.
3- Signals:
In an uptrend look for a spike down in prime band for a long position entry.
in a downtrend look for a spike up in a prime band for a short position entry.(Not my favourite scenario, though!)
BHP - Full Breakdown Using The Main Indicies PatternIn this special idea I apply the AriasWave methodology to a stock by incorporating the main pattern in Global Markets.
See related idea below for the DOW JONES to understand this pattern. I will post an idea shortly for the FTSE 100.
Using the AriasWave framework and the main pattern which a TYPE-2 ZIG ZAG I apply careful and precise wave analysis to this stock.
This will help you with targets and what the rest of the pattern will look like.
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#BHP - 1D Timeframe - US ELECTION OPPORTUNITY - WIN-WIN?POLITICAL AND MARKET CONTEXT
Specialized on silver production that is a basic raw material of photovoltaic solar panels. Renewable energy consumes up to 30% of world silver production.
If Trump wins, price of metal might still rising due to his monetary (inflationary) policies.
If Biden wins, BHP will be a huge player as a raw material supplier of a possible boom of Solar and renewable energy
TECHNICAL ANALYSIS. 1D TIMEFRAME.
Historical support on $46.80 - $47.70 range. 4 clear rebounds on this level over last 15 months (yellow rectangles). March´s COVID-19 meltdown was the only time that this support was broken.
Last week this price range was tested again and showed quite strong even with a high seller volume . This time we've got MA200 assisting as double support just above Fibonacci´s 0.382 level.
Strategy: Monday and Tuesday sessions are crucial to confirm rebound on support pointed out. Specially with the high volatility and bear forces we might expect for this week.
If price resist this level and cross MA200, we´ll be able to open a long position with a target of $58.55 (+21.5%).