Beach Petroleum

Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Fibonacci Fans

Score

0.75

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 7 62.9 0.57% 1.33% 29.3% -4.3% 104.1%
SHORT 8 51.1 0.38% 0.60% 14.9% -8.1% 4.0%

Summary

Technical Analysis

Beach Petroleum (BPT.AX)


Indicator:

FIBONACCI FANS


Signal Strength: MEDIUM
Recommendation:

Indicator can be used in isolation or in additional to another technical indicator to confirmation for trading position.


Beach Petroleum (ASX:BPT) : The current Fibonacci Fan levels are:
(23.61%) $4.83
: (38.2%) $4.95
: (50%) $5.08
: (61.8%) $5.17

The current support levels are:
(78.6%) $5.32
(100%) $5.51
(138.2%) $5.85
(161.8%) $6.07
(261.8%) $6.95
(423.61%) $8.38



Fibonacci Fan lines are trend lines based on Fibonacci retracement points. Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak). These fan lines can then be used to estimate support levels or potential reversal zones. Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones. This article will explain the Fibonacci ratios and provide examples using Fibonacci Fans to project support and resistance.

Calculation: Fibonacci Fans:
1) Uptrend Fan line 1: Drawn from extreme low through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme low through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme low through 50% retracement level on “invisible” vertical line Fan line;
c) Drawn from extreme low through 61.8% retracement level on “invisible” line;
2)Downtrend Fan line 1: Drawn from extreme high through 23.6% retracement level on “invisible” vertical line;
a) Fan line 2: Drawn from extreme high through 38.2% retracement level on “invisible” vertical line;
b) Fan line 3: Drawn from extreme high through 50% low retracement level on “invisible” vertical line;
c) Fan line 4: Drawn from extreme high through 61.8% retracement level on “invisible” vertical line;


PROFILE: Beach Petroleum (BPT.AX)


Stock Exchange: ASX
Company: Beach Petroleum
Ticker Codes: | BPT.AX | ASX:BPT |

About Beach Petroleum (ASX:BPT):

Beach Energy Limited explores, develops, produces, and sells oil, gas, and gas liquids. It holds interests in exploration and production tenements in Australia, New Zealand, and Tanzania. The company was formerly known as Beach Petroleum Limited and changed its name to Beach Energy Limited in December 2009. Beach Energy Limited was founded in 1961 and is based in Glenside, Australia.

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