Benettel

Benettel

Gold has been in a downtrend for about two months now. It formed a Rising Wedge Pattern which deceived a lot of Traders to go long. The bears are still in control. The Support of the Wedge has been broken and retested, so we should be expect a downward movement soon. Pivot Analysis shows that Gold is still Strongly Bearish. Gold is also below the 100 SMA and 200...

Benettel

We have a Confluence of Four Types of Support in the 20.80 - 20.90 area which indicates that we may have a lot of Buyers in this area. This alsoo means there could be a lot of Unfilled Buy Orders in this area. The next Demand Level of Buyers is at the Horizontal Support. This area has been tested only once, so it is a fresh buying level. The price has been in a...

Benettel

This pair has formed a "Falling Wedge" Pattern. The retracement move has been continued for about 3 weeks now. Now, Buyers should be preparing to take control again. We have a Fresh Demand Zone at the 0.9000 area which should contain some Unfilled Buy Orders. The Market created a Fakeout pattern to trap Buyers at the FakeOut Zone line. The fake support at S1...

Benettel

This pair is in a Downtrend forming a Bearish Expanding Channel. The Uptrend has ended long time ago and now Sellers are in control of the this pair. The next Demand Level of Buyers is at the Horizontal Support. This area has been tested only once, so it is a fresh buying level. We also have a very Strong Confluence of Support in the Green Circle which means...

Benettel

The Price is now moving up to the Supply Level as you can see in the Chart. The Market has created two Equal Highs, R1 and R2. These two Equal Highs form a Fake Resistance Level also called the Fake Out Zone line (FOZ Line). The Banks and the Big Institutions are preparing to clear the highs and the stop loss of retail traders who are in sells. A lot of traders...

Benettel

The Price is now compressing down slowly to the Demand Level as you can see in the Chart. The Fake Support at the Fake Out Zone has been broken by Sellers. This Fake Support was created by the Market and tested two times, at S1 and S2. The Banks and the big Institutions are preparing to clear the lows and the stop loss of retail traders who are in Buys. After...

Benettel

This pair is struggling against the Strong Resistance at the 0.9700 area. We have an Harmonic Pattern that formed on the H4 Chart as well, a Bullish Butterfly. The Trading Environment is a Trending Market and Price is now in a Retracement move. Pivot Analysis Trading Pattern for Friday 18th September: Trade Ranging Day Current Value Area: VAH: 0.9632, VAL:...

Benettel

US Markets are closed for Labor Day Holiday so there is not much happening today. Looking at Silver, we can see a Consolidation taking place after the big fall in metals last week. Sellers are in control today. The Confluence of Resistance around the 27.00 area was able to stop price from going up at the beginning of the London Session today. Weak Resistance at...

Benettel

The Banks and Institutions have placed Four Sell Orders in the past as we can see in the chart. There is a Strong Confluence of Resistance in the 0.8960 - 0.8975 area. Are the Banks preparing to place another Sell Order?? Price has been in a Descending Channel since 27th July. There is a Strong Confluence of Resistance around 0.8960. This is the Sweet...

Benettel

As a Trader. I try to find the areas and key levels where the Institutions and the Big Players are planning their trades. It is not an easy job. I use Supply and Demand, Trend Analysis and Confluence to try to find those areas. If you can find those areas, you can make huge profits because you are on the right side of the Market. I posted the USD/JPY Analysis...

Benettel

The Banks and Institutions have placed three Sell Orders in the past as we can see in the chart. There is a Strong Confluence of Resistance in the 69.65 - 69.93 area. Are the Banks preparing to place another Sell Order?? I don't really know. But I have two plans already. We have Four types of Resistance in this area. 61.8% Fibonacci Resistance, 100 Moving...

Benettel

Price has been in a Descending Channel since February this year (7 months now). The medium-term outlook for the US Dollar is poor and Safe-haven currencies like JPY are still preferred. There is a Strong Confluence of Resistance at the 106.60 - 107.40 area. This is the Sweet Spot..🤗🤗 We have Four (4) types of resistance in this area. -Round Number Resistance at...

Benettel

Price has been moving in an Ascending Triangle Pattern for sometime now. There is major resistance at 1.6540 - 1.6557. A lot of Sellers are in this area. Bulls are pushing the price upward (Bullish Compression but now Price is below the Daily Pivot Point which makes this pair bearish. We have a confluence of support at 1.6440 which is holding the price. We have...

Benettel

Price is in a Bullish Ascending Channel. This pair has tried to break the Daily Resistance Area of 76 - 76.50 but failed. Sellers are still in control and safe haven currencies are still in demand. JPY is strong this period and Australia still has rising cases of coronavirus. Confluence of 61.8 Fibonacci Resistance Level and Daily Pivot Point at 76.33. so we have...

Benettel

Price has entered the Supply Liquidity Zone to fill the gap. we have two equal highs that have been created, R1 and R2. Both occur at 1.1993. Price is now in the 1.2010 - 1.2036 area. We have a combination of two resistances in this area. Horizontal Resistance at 1.2000 and Pivot Point Resistance at 1.2036. Market Profile and volume analysis is showing us that...

Benettel

Descending Channel has been clearly formed and price is now at the top of the channel. We have a confluence of other resistances around the 0.6550 - 0.6556 area. Pivot Point Resistance and the 61.8% Fibonacci Resistance level is also in this area. Expecting price to drop to the support area before it bounce back. Its a Bear market. AUD is also in a Bull mood...

Benettel

#EUR/CHF Analysis The Price has been in Ascending Triangle Pattern for some time now. The Bulls are strong on this pair. We have price going up to meet the 2-Year Descending Trendline and the Tested Resistance at 1.0800 . So We have two types of resistance at this point. Trend-line Resistance and Horizontal Resistance. The question is: will the Buyers be...

Benettel

This Pair has entered a New Bullish Ascending Channel after a lot of Compression by Sellers. Buyers have pushed the price upward and broken the 1.0700 Resistance Level. Price is currently at 1.0800 Resistance Level and has hit the Trendline Resistance. So we have two types of Resistance at this point. Horizontal Resistance & Trendline Resistance. Trade Idea:...