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Benettel

Lets continue from my previous post on EURGBP, we are looking for areas where price can retrace down to. Areas where we should be looking to buy. Let us use the EURGBP 1H Chart. First of all, for a strong move creating imbalance like this. We want to buy at discount, no matter how tempting the market looks like. We have Two Areas where we can buy. The First...

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We had a crazy move on EURGBP last week Thursday that started from the bottom part of the Weekly Demand Zone. Also note that on the weekly chart, EURGBP has been stuck in a range since 2016 and since that time, this particular Weekly demand zone has been a strong support area. So we should really be focusing on the Up Side now. There was a Shift in Market...

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On Wednesday, some traders got burnt when EUR/USD went up so fast and so high, when the US CPI News came out during the New York Session. Trading the news without proper analysis is like gambling, but that is not the focus of this post. The main problem is that a lot of Traders forget about the Higher Timeframe Charts when trading, and they focus on only the...

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This Daily Chart was gotten from Top-Down Analysis. From the Monthly Chart down to the Weekly Chart, and now down to the Daily Chart. Price is returning back to Two key Supply Zones on the Daily Chart. 📍The Fail-to-Return (FTR) Supply Area at the 95 Price Level also has the 61.8% Fibonacci Resistance as confluence. 📍The QML Supply Area at the 100 Key Level has...

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AUDCAD H4 Picture Price has broken out of the Red Downtrend line while creating a QML pattern. We have multiple Break of Structure (BOS) with price breaking previous Lower Highs (LH). The Market is now in Uptrend mood, but the Supply Zone at 0.9300 was able to stop price and cause a retracement. We have equal lows formed at the 0.9160 Mitigation Order Block,...

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BTC has been trading inside the Falling Wedge Pattern in the Chart since the crash of 4th December 2021. It has maintained it for sometime now and today, price broke out above the Falling Wedge Resistance with strong momentum. The price has also gotten to the 100 Moving Average as you can see on the chart. Remember that the 100 Moving Average on the 4H Chart...

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We can identify some zones in the Chart for this Crypto Coin. Fibonacci Analysis, Elliot Wave Analysis also yielded a lot of Information on very strong turning points for this coin. The First Demand Zone, Second Demand Zone and Third Demand Zone all have strong confluences located in them. we have important Fibonacci Support levels located there in each of the...

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This pair has been in a Bearish Descending Channel since the pair hit the 1.0 Interbank Price Level in February this year (7 months ago). It was very important because it meant that 1 Australian Dollar almost became equal to 1 Canadian Dollar. The Fail-to-Return (FTR) where the Downtrend Channel started is at the 0.9870 area. This is also near the QML Level. The...

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NZDJPY has been in a continuous uptrend since May 2020 after recovering from the fall in prices caused by the COVID pandemic. Asset flows out of the JPY into Risk Assets and Commodity Currencies has kept on increasing. The Price has formed an Ascending Channel which started at the end of March 2021 as you can see in the Chart. Responsive Bears have always brought...

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Gold has been in a Bearish Descending Channel since August 2020 after it hit the $2070 price mark. Price formed a Double Bottom in March at the 1680 Price Area and since then, Gold has been moving in an Ascending Channel since 20th March 2021, with the Black Uptrend line in the Chart acting as support. Gold has broken out of the Descending Channel and is heading...

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This pair hit the 0.8000 price level in February this year. The last time price got to this level was in January 2018 (3 Years ago). Let us look at the Market Structure. Sellers used the SDE to keep price below the 0.7700 for sometime at the beginning of April. After that, we had a Build-up and Accumulation of Buy Orders from the DBR Untested Demand Zone (The...

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This pair hit the 0.9460 price level at the beginning of April this year (last month). The last time price got to this level was in July 2020 (10 Months ago). This area is a Daily resistance area. USD/CHF has been in an Uptrend since the beginning of this year. The 61.8% Fibonacci Support of this uptrend is at the 0.9030 - 0.9040 area, which is the First Buy...

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Price hit the 1.0 mark in February this year. It was very important because it meant that 1 Australian Dollar almost became equal to 1 Canadian Dollar. This is a clear Interbank Price Level. The last time, price came to this level was in March 2018 (three years ago). As we all know, Institutions like to plan most of their traps around very key round-number levels...

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The importance of multi-time frame analysis cannot be over-emphasized. No matter the timeframe you are trading, it is important to always come out and see the bigger picture. In this example, USDCNH has been in a Bullish Ascending Channel since 2014 We can see that whenever price hit the trendline support, Institutional Buyers and Investors came in to buy in...

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This pair is now in a Downtrend Market. We are seeing two possible zones where Bulls may enter the market. If the Bulls fail to successfully defend the 20.20 Demand Area, then we expect the market to focus next on the 19.60 Demand Area. The 19.60 Demand Area is a fresh demand zone which has not been tested before. The Buy Zone is the Green Circle. We can use...

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Gold had a Double Distribution Trend Day this Monday, breaking different pivot levels and moving up towards the 1870 area. Price is currently moving in the Bullish Ascending Channel. The expectation is that the Bulls will try to push price to get to the 1880 Weak Resistance Area. From here, Buyers will try to launch an attempt to take back the 1900 level from...

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We have Four Areas of Supply but we only have Three Areas of good Confluence in the Chart. Buyers are defending the 1.7040 - 1.7060 area Strongly. We have Equal Highs and Equal Lows being created on the Chart, so we expect to see a lot of Fakeout Patterns to be formed. Looking at the Market Structure, the Price is still ranging between 1.7060 and 1.7100 The Sell...

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This pair was in a Bullish Expanding Channel last week due to the Pfizer Vaccine news which helped Oil prices to go up. The pair has now formed a "Falling Wedge" Pattern on the H4 Chart. The improvement in the Canadian Manufacturing sector and a gradual growth in Oil Prices is good reason to be Bullish on this pair. Sellers have broken out of the Bullish Channel...