BennyManieri

BennyManieri

Hello again friends, Deciding what kind of trader you want to be is important, so you're not bouncing all over the place. Having said that, learning different ways to trade can add an important weapon in your arsenal against the markets. I'm a counter trend trader at my core, but my trading plan has a provision when the maximum profit vs risk presents itself in...

BennyManieri Updated 

Now, looky looky here. We see price has blasted through recent outside returns/ structure, and I'm starting to form a bearish bias on the hourly. The most recent pop affords us an opportunity to hop on the way down. What was frustrating was, I couldn't get my stops above the recent swing without blowing up my maximum risk on the trade. I elected to employ a 2...

BennyManieri Updated 

Hello again friends! Today we see that price crossing into a potential reversal area where we see many things have been lining up. First and foremost, notice this steady uptrend. Price has come down in the form of a complex pullback. A fibonacci inversion was taken from the center of this pullback and price has just hit the all-important 1.618...

BennyManieri Updated 

Now, I was riding the gravy train down when USDCAD was bearish. Seriously, before I was miking this pair like a cow that was in my barn. Now, we're just drifting sideways on longer-term timeframes. Still, opportunity exists. For those of you who are unfamiliar, HIDDEN divergence is used for trend continuation trades. Note the disparity between the RSI and price...

BennyManieri

Friends, Any trader worth his salt realizes that any one indicator on it's own ain't worth shit. A man could lose a fortune simply trading every ABCD pattern he sees, doji candle, or everytime the signal line crosses the MACD. However, when he see all these things start to line up together, great opportunities present themselves. One such opportunity...

BennyManieri

Looking on the hourly chart, we see an area of interest around the 73 even handle. It sure will be interesting to see how price behaves around this level after the market opens on Sunday night. If price continues it's march downward, a double bottom with some RSI divergence would lend quite a strong signal that it is now time to get long. A number of different...

BennyManieri

We see that on the daily time frame, we are in some form of bearish rotation and the trend is down. You'll also noticed a head and shoulder's pattern just formed as well. We see some neat resistance level around the 79 even handle. Should price reach this level again, an entry reason such as a double top with some divergence would be a strong reason to enter on...

BennyManieri

GBPJPY has been somewhat elusive to me in the past week. No doubt we're in a downtrend, but I just can't seem to capture it at the right moments. Now I think we are set up for a short entry on the pair, in classic trend continuation fashion. Let's see if this one slips past me or if I get filled. Sure looks like a great R/R profile, but I'm waiting for some kind...

BennyManieri

For the past several days, we have observed EURUSD banging around inside a channel. Prior to this occurring down on the hourly, we saw the market in a steady uptick. I'm usually averse to doing bearish in such a bullish move, but the current channel signals that any consolidation play (ie; advanced patterns) should be safe for now. I am looking at some bearish...

BennyManieri

Ok ok, people are getting antsy at the prospect of gas prices creeping up again. Don't worry, because the libtarded granola-munchin weirdos in California put extra pressure on oil producers during the summer months for their, "blend." A special gasoline for the greenie weenies. Also, more people are driving in the months to come. You would think this would all...

BennyManieri

I keep milking this pair like a cow that's in my barn.... Well, I think I've had like, 3 trend continuation setups all week that fit my rules, all of them worked out and were profitable. I don't see the downtrend ending anytime soon.Let the good times roll. All we need is a reason to get involved. Hitting and running on this pair has been working out. Yet...

BennyManieri

On daily charts, we see an overwhelmingly bearish trend. This lends oneself to seek ways to get involved in the down move. A short sell is possible at market right now come Monday morning. A bearish bat pattern completed recently just below a daily structure level. Putting the pieces together, we see a minor structure level near where the X leg formed. Both that...

BennyManieri

We see that price has closed above .73400s - .74000s, which has served as a major resistance level out on our daily timeframe. Should we drop down to an hourly to execute, we see that a pullback into structure is the best way to get involved long, as the market has signaled it's intention to go higher. We see that anywhere in the grey box (daily resistance zone)...

BennyManieri

We see that out on the daily, the trend is overwhelmingly bullish. Using this higher time frame, I'm looking for a pullback into previous structure to get long and looking for a retest of the highs. I wish I could show the situation on the daily, but you get the idea. On the hourly trading time frame, I see a bullish bat pattern nearing completion, in addition...

BennyManieri

Bearish Cypher pattern below $165.00 even Stops @ $172.800 Target 1 @ 157.800 Target 2 @ 153.525

BennyManieri

Bearish Cypher pattern @ $77.90 Stops at $89.60 Target 1 @ $67.825 Target 2 @ $61.575

BennyManieri

Bearish Gartley Pattern @ $287.10 Stop loss above $314.30 Target 1 @ $259.30 Target 2 @ $242.10

BennyManieri

Bullish Gartley @ $8.69 Target 1 @ $9.56 Target 2 @ $10.09 Stops @ $8.10