LegendaryTom

LegendaryTom

Bearish Outlook: USDJPY is experiencing a significant downtrend, driven by weakening US economic indicators and monetary policy convergence between the US and Japan. As investors seek to reduce exposure to the currency market, USDJPY has emerged as a top choice for selling interest. Risk Management: 1. Stop-Loss: Set at 150.936 2. Position Sizing: Manage...

LegendaryTom Updated 

Bullish Outlook: Bitcoin prices are experiencing a significant uptrend, driven by increasing adoption and institutional investment. As investors seek exposure to the cryptocurrency market, Bitcoin has emerged as a top choice, attracting strong buying interest. Risk Management: 1. Stop-Loss: Set at $97,570 2. Position Sizing: Manage position size to avoid...

LegendaryTom

Current Market Analysis : Gold prices surge due to inflation concerns and central bank policies, attracting strong buying interest. Key Levels : 1. Breakout Zone : $2633 2. Support Level : $2608 3. Target Levels : $2608 - $2604 Elliott Wave Analysis : Elliott triangle wave ABCDE identified, spanning from $2633 to $2604, suggesting potential reversal or...

LegendaryTom Updated 

BTCUSD Bullish Pennant: A Potential Upside Move A bullish pennant pattern is forming on the BTCUSD chart, signaling a potential continuation of the uptrend. This pattern is characterized by a sharp upward move followed by a period of consolidation within a narrowing price range. Potential Trading Strategies: Bullish Breakout: Entry: Buy above the upper...

LegendaryTom Updated 

Gold Price Action: False Breakout and Reversal Gold prices experienced a significant drop of 200 pips earlier today, breaking below yesterday's range. However, in a surprising turn of events, prices have since reversed and returned to the same level as yesterday. This price action suggests a false breakout, where bears attempted to push prices lower but were...

LegendaryTom Updated 

Bearish Pennant Pattern in OANDA:XAUUSD Gold A bearish Pennant pattern has formed in Gold, indicating a potential continuation of the downtrend. Key levels to watch: Pennant support: $2,634 Pennant resistance: $2,656 Target: $2,620 The Bearish Pennant pattern is characterized by: A strong downtrend preceding the pennant A consolidation period with...

LegendaryTom Updated 

We identified a potential reversal signal in the EUR/USD market, as a W pattern (Double Bottom) has formed. After a recent decline, the price has bounced off a strong support level, creating two distinct lows. The W pattern suggests that the downtrend is losing momentum, and a reversal might be imminent. Key levels to watch: - Resistance: 1.05903 (previous high)...

LegendaryTom

Double Top Formation in GBPJPY A bearish Double Top pattern has formed in the GBPJPY currency pair, indicating a potential reversal of the uptrend. Key levels to watch: Neckline support: 190.125 Resistance: 191.500 Target: 189.500 The Double Top pattern is characterized by: Two consecutive peaks at similar levels A decline between the two peaks A potential...

LegendaryTom Updated 

Bullish Trend Continuation in Gold A strong Bullish Trend Continuation pattern has formed in Gold, indicating a potential extension of the uptrend. Key levels to watch: Support: $2630 Resistance: $2666 Target: $2670 and $2680 The Bullish Trend Continuation pattern is characterized by: A strong uptrend with higher highs and higher lows A consolidation period...

LegendaryTom Updated 

Bullish outlook : Bullish Flag in BTC A Bullish Flag pattern has formed in Bitcoin (BTC), indicating a potential continuation of the uptrend. Key levels to watch: Flag support: $94,686 Flag resistance: $97,904 Target: $97,904 (next resistance level) The Bullish Flag pattern is characterized by: A strong uptrend (flagpole) A consolidation period (flag)...

LegendaryTom Updated 

RBS IN USDJPY "Role Reversal Alert: USD/JPY The previous resistance level has now become a support level, indicating a potential trend continuation. The bulls are in control, and the price is likely to continue moving upward. Key levels to watch: Support: 149.920 Resistance: 151.357 Keep a close eye on USD/JPY as this development could lead to new...

LegendaryTom Updated 

BEARISH OUTLOOK : GOLD price are expected to rise today , as continueasly bullish today , driven by a weekening US dollar and increasing for safe heaven assets . TECHNICAL ANALYSIS : on the technical front, gold is trading above the 6 to 7 days moving average , indicating a bearish trend .and the relative RSI is also pointing to oversold conditions ,suggesting...

LegendaryTom

Gold , yesterday fly high at 2650 resistance levels and then it droped again , now gold wanna make a big lower low in these days , lets go for short in gold we have a good opportuniy in gold because these are two zone nearest to resistance levels gold can reach there after that it will continuesly drops because gold tries to fly but it can't . always trade...

LegendaryTom Updated 

Gold sell according to M30 , we have 2 selling zones one is from $2661 and the other is at $2683 we have 2 good opportunities for selling if gold hit our first resistance zone at $2661 then it can drop till $2635 , on the other hand if gold hits our second zone at $2683 then our target will be $2622. Always trade smarter like Tom 😎 Please support my work with...

LegendaryTom

ETHUSD will fall down first then it will fly high , bearish Outlook now but are waiting till Trendline touched after reaching at Trendline it will fly high according to our analysis , so putting orders limits is best thing if you wanna trade safe without any risk. limits at $3532.5. stop loss at $3470.3. Target $3700.0. Always trade smarter like Tom 😎

LegendaryTom

A cup and handle spotted in BTCUSD ! "I've identified a Cup and Handle reversal pattern in the BTC market. The cup formation, which began at $1,950, represents a rounded bottom with a clear buying interest. The subsequent handle, currently forming between $1,920-$1,930, indicates a consolidation phase prior to a potential breakout. Key technical...

LegendaryTom Updated 

Bearish Outlook : Bearish Wedge Forms ! A bearish Wedge pattern has taken shape in the gold market , shows a potential downturn. This technical signal tells that gold's recent upswing may be running out of stream, and a drop below a lower Trendline could spark a sharp sell-off. Key levels to monitor : Resistance Level : 2684 Support Level : 2618 Breakdown...

LegendaryTom Updated 

BULLISH OUTLOOK: GOLD price are expected to rise today, as continueasly bullish today, driven by a weekening US dollar and increasing for safe heaven assets. TECHNICAL ANALYSIS: on the technical front, gold is trading between the 2690 to 2610, moving average, indicating a bullish trend .and the relative RSI is also pointing to oversold conditions, suggesting a...