rv
Long

BP(Daily) - Inverse HS potential-Double bottom.

rv  
NYSE:BP   BP P.L.C
319 6 7
BP             (Daily) Inverse HS potential, double bottom .

Inverse HS potential brake_out.
Double bottom brake_out confirmed, 26.18 retest.
Gap Fill.
Long on retest of Neckline(after potential AB=CD ), or on new high.
OBV set to brake_out.
Earnings due 28/4.

Target_1 : 44
Target_2 : 46.50
where would you put the stop loss: below $38.8 or $36.8?
Reply
rv AntoninoRomano37
i think, that depends on you.
+1 Reply
rv rv
and the stop is indicated, on the chart.
+1 Reply
Hey River, a small retrace before the rally maybe?
Reply
rv iefan
yes possible, nice iefan. its 1.618 as well, from the retrace and from 1-2, geometrically speaking. its consolidating as well. thats why i liked the long on new high, or retest of neckline(after ab=cd).
but i am not sure this constitutes a wave 1 :)..
+1 Reply
rv rv
but looks nice point 1, indeed.
+1 Reply
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