emmanuelbenzoe

emmanuelbenzoe Updated 

Same bias and reasoning from recent GBPUSD Short Post. Currently here is what I see: Accumulation, Manipulation, Distribution, Continuation. 1. Accumulation started last week Friday 2. Manipulation phases occur Tuesday this week due to move on liquidity and tapping into an area of imbalance above the the pool of liquidity. This area has confluence due to clear...

emmanuelbenzoe Updated 

1. Weekly timeframe suggesting a new structure high which is a LH as we see signs of bullish pressure completely being absorbed by sellers. 2. Higher Timeframe (Daily & Weekly) are showing break of structure and head & shoulders pattern 3. Daily Timeframe we had previously had a bearish engulfing candlestick pattern which fuelled the break of market structure...

emmanuelbenzoe

This is looking like a textbook trade opportunity on this pair. Waiting to see how price behaves at my weekly structure level confluent with a 3rd touch on the ascending channel. If price action presents a bearish confirmation at structure then a short opportunity may be possible back down to support level structure. Lets wait and see how the market plays out!

emmanuelbenzoe

DXY is forming a similar chart to the USDJPY with lower highs and higher lows. If support zone holds for this pair with confirmation may be looking at a potential long back to structure.

emmanuelbenzoe

Price forming a chart pattern consisting of price forming discreet higher lows and lower highs. Seeing price heading higher to retest my weekly structure at $1237 looking left on the chart that area has presented itself as previous support and new found resistance.

emmanuelbenzoe

1) Recent dollar strength 2) Weekly timeframe shows a shooting star candlestick of weekly structure level thus suggesting a minor pullback 3) 61.8% fib level is in line with daily minor structure level

emmanuelbenzoe Updated 

Trade on breakout. Wait for confirmation

emmanuelbenzoe Updated 

May be seeing a harmonic pattern. Retracements has been held at fib retracement levels and trend line has been respected. Buyers may be looking to rally up. Looking to enter a long position

emmanuelbenzoe

there is a regular bearish divergence revealing itself as price action shows uptrend with higher highs but MACD shows higher lows. This may indicate a possible reversal in trend. Looking out for this pair and waiting for more confirmation for this.

emmanuelbenzoe

Overall bearish trend and trend line has been tested and retested thus strengthening the trend. See a formation of a double top with it respecting overall downward trend. Looking to short on breakout.

emmanuelbenzoe

There has been a clear bullish trend with strong buying power. At the top of the trend doji candle formed which may indicate buying power is slowing down and quantity of buyers is lessening. in the 1 hour timeframe there is a shooting star/inverted hanging man candlestick which may signal a possible reversal may happen. together with this RSI is signalling ...

emmanuelbenzoe

there has been a bullish trend in which buyers were in power up the 100 mark in which buying slowed down as doji candlesticks formed. then right after bearish candlestick formed. this may be indicating a reversal in trend and seller has now entered in the market and now has broken through downwards past the 78 mark.

emmanuelbenzoe

the market has respected the price level of 0.737 which is major resistance as it tests it break through momentarily and retraces back. this is similar to the major support levels which is respects price range 0.681 hence forming major support and resistance zones. looking to go long as candlestick is tested and broke through the 0.78 mark and retrace then tried...

emmanuelbenzoe

The market has respected the daily support zone has tested it as well the testing the trend line on 2 occasions. however there are areas of consolidation and retracement which may be a possibility in this case but on the other hand there is a possible case of resistance break out as illustrated on the chart. Although due to the consolidation/ sideway trend...

emmanuelbenzoe

The market has tested and retested the resistance zones and the trend line multiple times which has strengthen these zones as well as Throughout the past week market has tested and strengthen the 142 price range. There is clearly a bearish and downward trend as the pound is clearly weakening due to the June 8th UK general elections which shows a tightening...

emmanuelbenzoe

There is has been both a bearish and downward trend since 2014. Resistance has been on a all time high since 2014, in which support zones has been tested these past recent months. Since the general election the pound strength has fallen in which it has slowly tried to recover. the market has respected the both support and resistance zones and has tested it but...