Well it went no where. BP didn’t manage to have a real run today. So once it climbed the barrier of 575 around 9:15 it stays a bit above it for the rest of the day. The share picked at 578.60 and I kept it till the last minute and closed the position at 577.7 for 2.7 points profit but after commissions (I used CFD) it is just 0.7. Not the best trade!

But at least it is not in the red…

Have a look on this 30 minutes chart of BP.

The share opened high and reached 574.8 and the went down to 571.5. The next bar the high and low were in between the first bar. So I put an order to buy at 575 with tight stop loss of 571. On the third bar of the day BP has climbed above 575 and my order triggered. My target is 582 but as it stands now it seems that the share can’t break above 577.  To break even with the commission I’ve payed I need the price be at least 577.

No mater what because it is an intraday trade I will close it at the end of the day. I will keep you updated on this one.