A fall on it's wayTrading in a tight channel and it looks a turn to the downside is quite likely, expecting if we break below the channel to fall into the blue box which would have us in the range of $29.27-27.44 before seeing a possible bounce up.
BHP/N trade ideas
BHP BILLITON | Heading Towards 16.00 ???BHP for the last two years has been quite the bullish pick of the ASX , after it's bear run from late 2014 it was an obvious investment for the long haul trader.
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Now into late 2018 , we can see that price is currently retesting structure at the range of DEC 201 3 and JUL 2014 . Currently ranging in the structure zone as displayed, accompanied by an RSI divergence, we have a strong reason to believe that price has completed its pullback and is headed on back down to the low of JAN 2016 .
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A break and close over the trend-line would place us in an ideal position to short the stock.
BHP Long- Consolidating market : but within a Bullish market
- Coming down into an area of interest of support
- looking for T1 at 35's
- Stops below 31's
- Note: Its interesting to see these moves are made between 1-2 months apart.
BHP Billiton vs. CommoditiesComparing BHP billiton to Gold, Copper, and Oil - aka the "reflation" commodities. Note how there is a decent correlation that has completely diverged in the past few months. Billiton probably going to head downward
BHP Channel indicates fall ... Do you believe ?? If the channel is right, the asset will fall close to the Up Trendline...Let's follow up to see ...#luizdenot #xbroker #bhp
$BHP weeklyStop up here at AB-CD or first run the stops above that are marked with the thick red line - eitherway we are coming into a big area of interest
BHP.ASX Trade AnalysisBHP share prices fell below the price channel in today's trading session and now slipping into a bearish boundary. BHP share prices will need to stay above its 500 EMA line to avoid falling further.
Potential future support and resistance are marked on the chart
$BHPSo far retaken lows at around 30 - if can hold above this level can push to $40 - fail $30 then see lower. Looking at 12 month chart 1/2 way through year
BHP Bullish GartleyBullish Gartley with bullish divergence. It doesn't get much prettier than this!
Measurements
- .786XA
- 1.27BC
- AB=CD
Renko Manual Back Test with BHPTesting basic Renko system.
Enter Long when:
- 2 green bricks (top of 2nd brick + 5% brick size)
- Top of 2nd brick is above 10EMA
Stop:
- bottom of 1st full brick under 10EMA -5% brick size
Exit:
- 2 red bricks (bottom of 2nd brick - 5% brick size)
- close under 10EMA
Enter Stop Exit R Profit R Mulitple
19.05 15.95 28.95 3.1 9.9 3.1935483871
27.05 24.95 35.95 2.1 8.9 4.2380952381
36.05 33.95 43.95 2.1 7.9 3.7619047619
37.05 33.95 45.95 3.1 8.9 2.8709677419
39.05 36.95 37.95 2.1 -1.1 -0.5238095238
38.05 35.95 35.95 2.1 -2.1 -1
28.05 25.95 25.95 2.1 -2.1 -1
28.05 25.95 27.95 2.1 -0.1 -0.0476190476
So far so good.
BHP back up to the channel mid-point?Currently at horizontal and channel support. RSI trying to bottom out and turn back up. Has to get past 42. Otherwise it could form a head and shoulders.
BHP.ASX is on the verge of breaking out to the upsideBHP.ASX Share price is on the verge of breaking out at 2550 support price point to the upside on the 2- hour chart. Closing above 2550 could see further moves to the upside
