Re that possible ABC style long trade
Many Gann traders will note that BHP opened well outside the 25% - 33% price increase range for Point C, reducing the RRR. IMO, some who will still take the trade will move their stops higher.
Given that recent sustained high levels of short-selling have not prevented the previous swing high [ie. resistance] of $41.36 from being taken out, as well as the $41.53 Wave 1 low for the bearish weekly Elliott Wave, BHP is now looking at some relatively blue sky!
Please remember that I have no qualifications to be recommending such trades / strategies and wish all traders the best of good fortune.
4YIO-NFA-PDYOR
info, page-47
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 (20min delay)
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Last
$40.67 |
Change
-0.270(0.66%) |
Mkt cap ! $206.2B | |||
| Open | High | Low | Value | Volume |
| $40.68 | $40.79 | $40.53 | $235.7M | 5.786M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 250 | $40.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.68 | 8347 | 2 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |