BennyManieri

BennyManieri

Darden Restaurants have satisfied the masses with many brands such as Red Lobster and the Olive Garden. Right now, this stock is hot off the heels of a completed Gartley pattern that just hit target twos. We see a bearish trend starting to form, and a subsequent opportunity to get involved on a continuation play. We start to see price action starting to make...

BennyManieri

Using the four hour chart as a higher time frame and a one hour as a trading time frame, a CTS score starts to build in the zone highlighted in yellow. If RSI goes oversold in this same zone, I think it could constitute a strong buying signal. We see confluence of both a larger retracement and extensions/inversions in the zone, as well as an ABCD pattern. As it...

BennyManieri

Simply put, we can look to this index to continue it's bearish trend. We will not place targets with the expectation that price will print new lows, but rather, that it will simply retest the most recent cycle bottom. If one was to join in at market, this trade will offer a simple 1 to 1 risk to reward.

BennyManieri

Well, even though the recent earnings report blew speculation I'm noticing that this stock is moving rhythmically. These are weird Q4 earnings (2.2 mil - which is about what it costs for parking, admission, and food for a day at one of their parks with your family ohhhhh SNAP hahahha!) , because you would think an amusement park would post better in say, Q2 or...

BennyManieri

With the price of crude dropping like a stone, Jed Clampett wouldn't have been so lucky had he struck oil on his farm in today's world. The falling price with no end in sight offers a simple trend continuation opportunity. We see that price action has wicked up into a potential reversal area yesterday 2/16, but no worries, there are still opportunities to get...

BennyManieri

The recent Iowa caucuses brought up the issue of ethanol subsidies and opened up it's viability for discussion. One thing's for sure, Ethanol subsidies are not good for the price of corn and simply lower the supply and increase price. More and more vehicle owners are becoming hip to this biofuel's corrosive nature. For the foreseeable future however, ethanol looks...

BennyManieri

But they do offer an opportunity.... We see the Cypher pattern (highlighted in blue) that recently completed and that Live Cattle is in consolidation, basically banging around inside a channel locked between 141s and 118s. We have a bullish bat pattern (hot pink) that completes right at the 118 even handle structure level. I'm looking to buy up two contracts...

BennyManieri

We see an opportunity to get long on the S&P 500 daily. Right now, price is around a weekly support/congestion level around 1825 that has formed a double bottom. This area shows to have acted as both support and resistance in the recent past, seen clearer in line charts based off the closing prices. My oscillator is showing bullish divergence on that double...

BennyManieri

Welp, Hank Hill would love this. Propane is no longer suffering through the warehousing problems that it did last year and much of the country has been experiencing a more milder winter than is usually experienced. Proprane is seeing a decline, as it is a byproduct of both crude oil and natural gas production, and prices of both of these commodities are low at...

BennyManieri

Bearish Cypher pattern @ 1.09225 Target 1 1.08933 Target 2 108742 Stops 1.09556 (Based off of a 1.13 fib inversion from the C to X leg) In addition to that, we have other reasons for entry. Not only does the pattern complete in an area where three major resistance levels coalesce (as dictated by the four hour), the overall leg of the move down has a .618 retrace...

BennyManieri

Let's make a case for getting short here with Silver/Dollar on based on the techicals. Like most 60 minute traders, I use a 4 hour high time frame for the support/resistance lines to be drawn. We see a Gartley pattern completion nearing the 14.00 even handle which has acted as previous structure in the past. There's also a 1 to 1 measured move completing in...

BennyManieri

FUNDAMENTALS Arguably, satellite radio will be a phased out technology in the coming years. What the blackberry has been to communication devices, satellite radio will soon find itself in the dustbin of consumer products. Ever wonder why the SEC had such little problem with the Sirius/XM merger in the first place? The marriage of these two companies was...

BennyManieri

As we know, NZDUSD is overwhelmingly bearish. This looks like a good opportunity for both pattern traders, and the trend continuation crowd. We all know the risks inherent into blindly trading butterflies, as you are essentially buying or selling a break of structure. However this time looking left, we see some minor structure levels if we are to expand our...

BennyManieri

As AUDUSD is channeling before heading lower, let's trade two contracts to targets. You can see that there is a minor structure level that aligns with the D completion point. Stops will go just a touch above the 0.75 even handle, for added protection, without negatively impacting with the risk/reward ratio too much.

BennyManieri

As you can see on EURUSD, we have three potential advanced patterns on the hourly. The likely of the two, are the bullish bat and cypher patterns completing in roughly the same zone. I will personally be holding out for the cypher, to ensure a better risk reward, with two targets.

BennyManieri

We have seen this time and time again, the USDJPY blasts off bullish, consolidates in the form of a pennant, and proceeds to shoot even higher. I don't have any reason to believe this time will be any different. This pennant is reaching a nexus point and price action is coiling and tightening up to the point it's begging to spring. But having built a case for...

BennyManieri

Of course AUDUSD is in freefall mode, but we're due for a relief rally before we head even lower. A collection of fib extensions/inversions have joined concert at around the .7500 even handle. We can reasonably expect that once price action approaches this area, that RSI will go oversold, and will also display bullish divergence at this time. Bear in mind (No...