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BP p.l.c.BP p.l.c.BP p.l.c.

BP p.l.c.

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BP trade ideas

BP - Neutral Iron Condor... BiPolar?Stock has been experiencing some recent options activity and increased IV. Closer look at price action showed what I like to call a "mirror image" pattern. Over the past year, price stayed bullish-neutral-bullish before peaking initially in January. It then hit max peak in June & began mirror image formation from then. Meaning, now it has had the reverse of the bullish-neutral-bullish pattern to have a bearish-neutral -bearish pattern. Clearly, we had the initial bearish move & are currently in the neutral part of the pattern. The expectation is to stay neutral for now, with readiness for bearish bias in the near future. 32/34/46/48 FEB19 IRON CONDOR @ 0.30 CREDIT General plan: Roll if necessary & if possible mainly to reduce risk. Target maximum profit, unless significant profit appears early. Comment or direct message for discussion, or on other interesting ideas! Follow for updates.
NYSE:BP
by themdtrader
New Yearly High?BP has broken out of a flag pattern.However, is going negative in the coppock curve. Also, the total revenue has been the same for a while now. Im going to be relying on volatility. If its short it will be only short-termly i believe and if it is Long then short-term increase followed by pull-back then increase until Q4. Also, the moving average is providing support. I put my Long on the next fibonacci level.I have put the Long and short take profit at 1% but I think the price change will be much bigger so if it is - I will extend take profit.
NYSE:BP
by BlackbearTrader