BPL trade ideas
BP Approaching Resistance, Potential Reversal!BP is approaching its resistance at 41.45 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance) where we expect to see a reversal to its support at 39.14.
Stochastic is approaching resistance where a corresponding reversal could occur.
Time UP Bulls!Trend; DOWN
Strength; Strong
Status; Trend continuation/Overbought
The stock is set to move lower having met resistance at 530.161
ENTRY; Current price 520
TARGET; 482 & 457
STOP; 555.700
Only the upward break of 555.700 will invalidate the trade.
BP Testing Resistance, Potential Reversal!BP is testing its resistance at 38.62 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 36.99 (horizontal swing low support).
Ichimoku cloud shows signs of bearish pressure that contributes to our bearish bias.
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.
$BP Short Term OutlookBP looks to have settled nicely on the .618 Fib retracement
Support is very strong in this 40 dollar area
Bullish Divergence on RSI
Expect a little bit more accumulation and start of an uptrend from here
BP (bp) Stock Price Prediction LONG TERM 1 November 2018I am predicting it will reach the price by the time and date shown
Super Cycle Corrective Wave AnalysisLong term BP is exhibiting corrective wave behavior. Looks like the correction could take well into the late 20s' and decline to significantly lower levels.
Trading with support and resistance levelsSupport and resistance levels are very important in my trading, in this video, I will explain how to draw them correctly
BP- to flop or not to flopA rare non crypto analysis but sometimes its nice for a price not to get heavily affected by a higher up factor i.e altcoins reliance on Bitcoin.
0.786 fib from 2010 high being tested and got rejected first time around. Very positive FA surrounding BP in the last 6 months so it will be interesting to see if faith is brought back to investors.
Entry price for a long term trade would be at about 596 to avoid a double top flop.
$BP Long Term C&H - Breaking Out$BP Long Term C&H - Breaking Out
Should be back above $50 in medium term.
#BP looking for test over to highs in 2018With oil prices sustaining higher prices, I am looking for profit margins to increase for BP.
I have used the Fib extension tools confluencing with Major resistance levels for some price targets.
These price targets may seem far fetched but as long as WTI and Brent hold above a 8% deviation I think its possible.
Can BP break its long standing resistance?After today's positive results, can BP break its long standing resistance at 518p?
A resistance that's been in pace since 2011.
It looks like this is the time.
Wait and see.
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.
#BP $BP British Petroleum SHORT - BP LEFT / OIL RIGHTShorting BP here as OIL moves to weekly chart resistance trend. Counting cycle complete on short term BP chart too.
5 point stop loss, target is first FIB level.
Looking for a move back into valueI believe we could see a move back into value or even higher if the oil price rises after the 22nd Sept OPEC meeting.
We are currently seeing bullish signs and volume is in favor of this move.
I have highlighted what I believe is a floor and ceiling level of the current consolidation level.
The first target would be at the price label and then the top of the consolidation area
