Hi Felix, Im a newbie, could you help me out and write entrance amount, sl and tp for me in future, Im following your work and trying to learn but just dont want to misread your charts...appreciated...
felixlrobinson
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@LuckyPat, Hi Pat, sure thing. A lot of my thinking here is based on the likelihood of whether travel and the subsequent restrictions are lifted. In my opinion I’d be surprised if, in the UK at least, travel restriction are lifted due to the rising cases and new variant. My thinking here is that if easing is postponed again then travel will likely be hit and BP is likely to drop again. Once again I can be wrong here and it could spike but I like to air on the side of caution for now. For me a nice entry would be the p280-300s remember if it does dip here it can go lower but this is a longer term hold and as you can see from the chart it has a lot of room to make up from the pandemic. In terms of stop loss I use 15-20% for my longer term holds and 7% for shorter term trading, so let’s say 18% stop loss from entry. Take profits as you see fit in the future. Hope this helps, message if you need anything else. Releasing more charts later today!
LuckyPat
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@felixlrobinson, Great thanks so much, funds are tied up in sometimes else but keen to getbinto energy for long...
felixlrobinson
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@LuckyPat, I reckon you wait till the 19th July and if restrictions don’t ease then I’d try get some capital ready for the decreases in share price BP is likely to face. Especially if you want a longer term investment this would be an ideal opportunity. Regardless good luck with your other investments and I hope they prove to be profitable
LuckyPat
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Thanks, im following your ideas so will see if anything else interesting comes up..cheers