LegendSince

11:04

LegendSince

On the 29th Oct 2024, you would expect a blow out top, sweeping all time highs, running on all time highs whilst maintaining a strong bullish closure going into the ending of the week but what we are seeing right now is a bullish shooting star formation with the candle body currently under the previous 2 weeks highs. This signifies weakness in bullish momentum,...

08:00

LegendSince

There is growing sentiment for gold to reach $3,000 per oz, with the market peaking @ $2,790 current all time highs. Minor retracements is healthy in the grand scheme of the bull run and bearish continuation down to the daily fair value gap @ $2,214 - $2,697, taking daily buyside liquidity is a reasonable draw going into next week.

10:17

LegendSince

Much clearer price action than GBPUSD, with Friday rejecting the weekly order block, closing below the prior days low. Daily bullish order block up for grabs, aiming for low hanging fruits @ 1.07793 - 1.08069. Very cautious as the US elections is right around the corner.

08:00

LegendSince

There will be times where higher probability conditions presents itself in GBPUSD but for now, the market is riddled with high resistance, ever since we have dropped down into a discount below 1.30497. With the election taking place on the 5th November 2024, next week, i am expecting volatility.

08:22

LegendSince

It's the best time to sit on your hands and gather more price data as there is a lot going on right now making the probabilities for a draw on Sellside 50/50. High probability trading conditions is where i thrive in but right now, we are not seeing that.

12:25

LegendSince

Similar to S&P 500, we have seen a lot of high resistance periods, making it challenging to anticipate with a high accuracy where the next draw on liquidity will be. Recently, we have seen a shift in market structure, with $20,398* being the weekly consequent encroachment for this week.

10:43

LegendSince

It's been a rough few weeks for traders as many are complaining about high resistance conditions throughout the past couple of weeks and booyyyy are they right! Although i have managed to eek a tiny bit of success recently in these conditions, I HIGHLY RECCOMEND against trading with maximum leverage in conditions like this, especially if not a scalper....

15:09

LegendSince

For close to 2 weeks price has been stagnating but when you take the overall medium term trend into consideration, you have to ask yourself this; does this minor relief rally have the possibility of causing a major market structure shift before reaching a major buyside liquidity pool above 104.636?

09:07

LegendSince

Slowly we see the decline in price action and although it's a very choppy time we are in, the continuation to the downside, at least down to 115.30 going into the next weeks seem very reasonable. Although bearish, placing shorts in market conditions like this is high risk. It's worth, at times waiting for the market to draw to you.

09:46

LegendSince

Bullish but taking a lot of cautions due to the current sentiment at the moment. Low resistance liquidity run from 3.599% to 4.386% in a little over 7 weeks is a trend that could continue but as a trader who likes to see both sides of the story, it's; only a matter of time before the trend will reverse. The real question is when??

LegendSince

It keeps on getting better and better for Gold doesn't it?!! New highs was printed on Wednesday @ $2,758.45 whilst on that same day, retracing down to the daily buyside imbalance, sellside inefficiency. Next point of interest is all time highs but i am aware of lower highs forming going into next week so i will be sitting on my heels

LegendSince

The potential for a draw @ $70k is still a possible as long as we see Wednesdays low kept in tact. This will be seen as a higher low in the overall bullish structure.

LegendSince

There is still a potential for a draw back down to sell side liquidity, with dollar index printing risk off conditions but I believe the upside potential outweighs the downside potential. Awaiting more confirmations to weigh up a strong bias.

LegendSince

Last week, I made a confident projection that the daily buy stops was imminent of being triggered and what we have seen this week is the opposite playing out. Although we have seen a continuation to the downside, I still believe that there is a high chance that 1.30497 and above is not a far fetched target going into next week but will sit on my hands and await...

LegendSince

When compared with ES and NQ, it is evident that there is a big divergence between the three and Dow Jones, with 5 consecutive bearish days has made it clear that it is frontrunning the trio with bearish sentiment. Challenging find a high probability draw on liquidity but i like the looks of the volume imbalances created this week being filled next week.

LegendSince

Wednesday printed the lows for the week, attacking the prior weeks sell stops, before closing inside of the upper portion of the bullish order block. Shortly after, On Thursday, the Nasdaq rallied thanks to Tesla's strong earnings and optimistic sales outlook, boosting hopes for a solid earnings season. However, the Dow fell further, dragged down by IBM's 6% drop...

LegendSince

📈 S&P 500 futures edge up as earnings roll in; corporate America still looking good with 74% of companies beating profit expectations. Stock futures ticked up, but S&P 500, Dow, and Nasdaq are on track for weekly losses. Capri shares sank 40%+ premarket due to a court ruling. However, throughout this weeks price action, we have not done much in the sense of...

LegendSince

The U.S. Dollar Index tracks the strength of the dollar against a basket of major currencies. DXY was originally developed by the U.S. Federal Reserve in 1973 to provide an external bilateral trade-weighted average value of the U.S. dollar against global currencies. U.S. Dollar Index goes up when the U.S. dollar gains "strength" (value), compared to other...