BME short following break of H&SBME looks like a short as it is pulling back after a strong run and breaking down through a head and shoulders pattern.
BMEL trade ideas
B&M Europealue Retail | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# B&M Europealue Retail
- Double Formation
* 6.1500 GBP | A+ Set Up
* Neckline | Top / Bottom Structure | Subdivision 1
- Triple Formation
* Pennant Structure | Short Continuation | Subdivision 2
* 012345 | Wave 3 Ongoing
* Retracement | 50% Valid Area At 3.8155 GBP | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Sell
Good results for B&MThe market seems to have recieved B&M's results positively. The fall in reported profit was expected.
Technically this week could provide a launching pad for it to break to the upside from its weekly 50 ema.
This is not a recommendation. Trade your own plan and make decisions based on your own research.
BME - Poised for breakout upwardsBME doesn't do tight trading channels very often. The last time it did a rapid 7.5% surge upwards followed. BME is now going through almost the same shaped trading channel. Is it going to surge up again? Goldybug thinks so. That's why he's heading to a line just slightly above 600p. Good Luck everyone. Goldybug's opinion only.
BMEInfo only, not advice
Bullish MACD on the daily
Potentially on wave 3 uptrend
Bottom of wave 2 was wave 1 retracement of 0.618 to the tick
Targets in blue for 1.618 and 2.618 levels
B&M breaking out slowly395 resistance from Feb 2018 has now been broken although the breakout is slow so far.
