FX.co ★ HAPPY KILLER | H. KILLER Trading Journal

HAPPY KILLER TRADING JOURNAL UPDATE ON GOLD PAIR *Waiting for confirmation of breakout for sell decision or bullish momentum to continue Overview: For now, there seems to be momentum where gold is in a fairly crucial condition where the price is seen testing the bullish trend line. However, it should be understood that this condition could be a reversal momentum, aka there is a possibility of bearish if a significant breakout occurs. Conversely, if the price is seen just bouncing, then the bullish potential is considered to continue.

Analysis: Part 1 refers to the indicator >> 1. Bollinger bands and MA 10 have crossed, indicating that the price will experience a correction (bearish assumption) 2. Fractals are above the candlestick indicating that the seller intensity tends to be dominant. 3. The Macd indicator is showing a sell signal after the red line is above the blue bar. Part 2 refers to price action >> 1. The trend line still shows a bullish situation. 2. The price is still above the demand area, namely 3331.38 to 3334.60. 3. Fresh support is still below the price level, namely 3323.82 and 3323.82. 4. The nearest resistance is at the price level of 3351.66. Conclusion of analysis: Referring to the technical assumptions above, it is better for the trading scenario to wait for clear confirmation. This is enough to describe the opposite situation between technical price action and indicators so it is better to wait for confirmation that is in line to minimize the risk of transactions. The indications above are quite clear in describing the situation of gold movement which is likely to consolidate for a while. Trading strategy: 1. Buy option above the price level of 3334.60 with confirmation that the price is back above the middle BB. 2. Sell option if the price breaks out below the trend line or level 33311.38. Disclaimer: Gold is still in a sideways condition because there is no dominant movement sentiment.