BrenFren

BrenFren Updated 

When i scale out like this... it makes me think yeah, sure 9K is still in play... but there is a complete lack of volume at them levels. TA is great for explaining wider sentiment, and well understood patterns of behaviour within a market. But its bunk when the fundamentals of the market change dramatically over night. Corona caused the crash but there was...

BrenFren

hidden bearish, & at resistance. i dont trust this reversal. BTC has failed to drop and retest the levels it needs to, to really excite people for the next bull run. Im short from 7100 so im not entering here but a small position could be justified with a stop above 7150 resistance. This is not trading adice, just my thoughts.

BrenFren Updated 

Looks weak

BrenFren Updated 

Ive been bearish on BTC up until now and still am. That said, we can see on the daily BTC is making HH & HL and is best traded with a momentum trading strat. on the 4hr it gets a bit more interesting, on the 16th BTC attempted a run up to the 0.5fib and feel short, where it retraced a little, consolidating and ran back up breaking the 0.5Fib and local...

BrenFren

really simple Lower highs, lower lows, Strong resistance at 7.1, Hidden Bearish Divergence. I.d be careful and shorting here, you could wait until support is broken then short after its has come up for a retest... If you are planning trades, always try to short at resistance and long at support.

BrenFren Updated 

The potential direction of BTC compliments of Wykcoff. PSY—preliminary supply, where large interests begin to unload shares in quantity after a pronounced up-move. Volume expands and price spread widens, signaling that a change in trend may be approaching. BC—buying climax, during which there are often marked increases in volume and price spread. The force of...

BrenFren Updated 

Fib retracement .5. Lurking around the top edge of an ascending wedge. Yet to conclusively break out of the down trend. 4Hr NFI sell Drop in the 4hr VFI. since the dip to 3.8k declining volume on weekly, daily, 4hr, hourly. S&P is slowing right up...

BrenFren Updated 

2780 50% retracement levels 50MA Dead cat bounce I got stung badly on S&P yesterday... the market is completely illogical Or maybe I I just underestimated mass hysteria... Anyway... il not be shorting the S&P again until I get confirmation of the inevitable crash down to sub 1900... Im not sure il be longing either though... I've absolutely no faith in this...

BrenFren Updated 

Ok so ive done a regression tend, to try to make sense of BTC price action and its still baffling... As you can see we are still in a rising wedge, now mapping on a regression trend it clearly shows, that although the previous legs up seemed weak, in comparison to this last one they made more sense TA wise and were relatively strong in volume, tracking to the...

BrenFren

To start i'd like to give the definition of the theory of The Composite man... “…all the fluctuations in the market and in all the various stocks should be studied as if they were the result of one man’s operations. Let us call him the Composite Man, who, in theory, sits behind the scenes and manipulates the stocks to your disadvantage if you do not understand...

BrenFren Updated 

Divergence.. its coming back down

BrenFren Updated 

Rising wedge, falling volume...

BrenFren

As we all know all the indices are pretty much tracking each other, a sure sign that its wider sentiment driving the markets. Barring any more manipulation, i.e. trumps oil tweets yesterday the S&P looks ready to drop and has the TA that seems to verify its course. If it goes the FTSE will follow. But the FTSE has its own TA that looks ominous, add that in with...

BrenFren Updated 

So having confirmed double top, there is also a smaller H&S on 1hr @ second peak of double top. Now would be the time for a leg up if a reversal or larger H&S was going to play out... im awaiting this retracement to reshort but i will only reshort when i get confirmation it is a H&S or is simply a slight retracement confirming the double top pattern and...

BrenFren

watch it coming... oblivion

BrenFren Updated 

I seriously suspect, with many others the markets have not bottomed. This was an oversold bounce, helped by huge QE, whilst not addressing any of the underlying fundamental problems the markets currently faces, apart from everything being overpriced at the start of the crisis, which it has fixed. Now traders Institutions, Governments want to act like its...

BrenFren

descending triangle, falling volume, weakening RSI. Down we go

BrenFren

just charting trend