Trader's Logbook

BRN went up as high as 3.30 last Friday breaking our resistance at 38.2% Fibonacci Retracement level but close on a weaker note. Is it just to test its newly found support (previous resistance) or it should have been the fire exit for those who wants to get out? If the price will stay above [...]

A doji after a doji after a doji. Looks like the bears and bulls are still fighting and until now nobody is winning. From the 1 year time frame Fibonacci retracement we could see that yesterday and today, the bulls are trying to bring the price up above the 38.2% but on both occassion was [...]

Looks like 3.08 is a price to break this time. BRN touched that level but retraces immediately. So far the news have no effect. This long legged Doji might reveal it true intention soon. Long Legged Doji is a doji characterized with very long shadows. It shows the indecision of the buyers and sellers. It [...]

BRN continued to go down following the Engulfing Pattern created last September 21. If you are already losing it might take a while before you will be back on track. Either sell on rally (if there will be small rallies) or wait for another news (don’t know when). Caveat!

BRN went up as high as 20% (more or less) early afternoon but became a roller coaster ride after it went up to 3.89 then bears and bulls battled at 3.7 level. The bulls trying to regain position when BRN hit 3.5-3.6 levels In the end BRN settles for only around 8% gain. The rally [...]