BHP Group, headquartered in Melbourne, Australia, stands as one of the largest and most diversified global commodities companies. With operations primarily in the Americas and Australia, BHP employs around 62,000 people and engages in the production of essential commodities such as copper, iron ore, coal, oil, and gas.
Among its notable assets, BHP holds a 57.5%...
(ASX) BHP Group || March 6, 2024
Master of Elliott Wave Analysis: Shane Hua (CEWA-M)
(Left chart) The broader context (Daily chart) indicates that it seems the preceding Five-waves pattern has concluded, and you can see that wave ((v))-circle-green ended at 50.84. Following that, there was a downward price action, suggesting that the target of this decline could...
A price action above 55200 supports a bullish trend direction.
Crossing above its 200-day will act as further bullish support.
Increase long exposure for a break above 56400.
The target price is set at 58300 (its 50% Fibonacci retracement level).
The stop-loss is set at 53200.
The trade idea is regarded as a high-risk speculative trading opportunity.
BHP, headquartered in Melbourne, Australia, stands as a global leader in the commodities sector, engaging in the processing of minerals, oil, and gas. With a workforce of 62,000 employees primarily based in the Americas and Australia, BHP's extensive operations encompass the production of copper, iron, coal, oil, and gas. The company's significant assets include...
BHP is a world-wide commodities company with its headquarters in Melbourne, Australia. It processes minerals, oil and gas and it has 62000 employees, mostly in the Americas and Australia. It produces copper, iron, coal, oil, and gas. BHP owns 57,5% of the Escondida mine in Chile which is one of the world's largest copper producers and also produces some gold and...
This chart does not need much explanation. Previous resistance turning into support = change of polarity. Watch BHG here as a reversal off this R566-R568 level could turn out to be a nice buy with the opportunity to use a fairly tight stop loss. This is where we also find the 61.8 fib retracement of the most recent swing highs and lows.
I am learning some price action. Trying to get used to how price moves. This idea is about shorting the top of the range to its lows and probably a liquidity grab. There was a market structure break on the daily and the stock failed to make a new high. Expecting the lows to be run. I don't actually have a position on this. This is just an idea.
R521 is evidently horizontal support and the anchored vwap from July 22 lows. It should now attack resistance at R568. Over R568 opens up further upside with a view for new highs
BHP long position.
Market touched a lower Lin Reg and below MACD on H4.
Confirmation on H1 to take long position with 2 TP.
Tp1 at $59.30 and 2nd at $63.95.
SL at $54.39.
To get better TP/SL RATIO - I split the opening position 60%(market price)/40%(I am waiting until BHP Price slides to $55.64)
Warning!!!!
This content should not be interpreted as financial advice
BHG finds itself in a rising wedge, price recently struck support where it shows intention of a cycle low. As it tries to move up there is blue horizontal resistance with median of Pitchfork not further up.
To confirm a cycle low price must close above the blue downward slopping resistance and 10DMA, if it meets this & turns down going lower than R544.01 means...
Symmetrical triangle identified within the broader bull market. Could we see another upwards movement in price akin to the previous occurrence above $50? ASX:BHP
BHG has tried to reach the upper resistance (black line), however it ends the week with a swing high in week 29. It is reaching a time where it must trend downwards. It is currently caught between a parallel channel trendline where it found support.
If it is forced back into the channel, then it becomes a good short entry expecting price to move towards the...
JSE:BHG has been trading in a sideways consolidation zone since the end of March. With yesterday's price action, it broke through the top of the box. If it breaks the high it formed yesterday, we will enter a long position.
A price action above 55700 supports a bullish trend direction.
Further bullish confirmation for a price action above 57900.
The profit target is set at 60200.
The stop-loss level is set at 54200.
Remains above its 200-day simple moving average.
Remains a risky trade.
