Trading tactics<\/strong><\/p>\n Open shorts with a move under 37.70 placing stops at 38.30. Target range between 36.00 and 36.50.<\/p>\n Rationale<\/strong><\/p>\n BHP may be forming a topping pattern after achieving a medium term break target around 38.20.<\/p>\n The 38.20 target is derived from the break out of the two month structure and may create a decent reversal.<\/p>\n A move below 37.70 triggers a sell signal as it indicates the recent upside break from the rectangular pattern has failed.<\/p>\n Potential pull back targets are between 36.00 and 36.50. The view is negated with a move above 38.30. Another trading idea from<\/strong><\/p>\n Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a> <\/p>\n FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience<\/strong>.<\/strong><\/p>\n AFSL 319830 |<\/strong> Disclaimer<\/strong><\/a><\/p>\n Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/p>\n Technical limitations <\/strong><\/em><\/p>\n If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.<\/strong><\/em><\/p>\n
\n <\/p>\n![\"\"](\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/ffbhp.jpg\")
\n <\/p>\n