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

HAPPY KILLER TRADING JOURNAL UPDATE ON GOLD PAIR Overview: Based on the 15-minute interval, there appears to be limited opportunity for price movement. The rectangle pattern indicates a constricting market movement, awaiting a definite opportunity for dominant momentum between buyers and sellers. Therefore, this condition can be concluded to wait for the right moment. This pattern is certainly an initial assumption where the confluence of the bullish and bearish trend lines is still a strong enough rebound area to provide relevant trading direction information. In other words, gold is still waiting for some time before executing action.

Analysis: Technical indicators: 1. The positions of the bottom and top fractals appear to be close together, this is still an assumption rather than a weak signal so it is safer to wait for the appearance of fresher fractals at the start of formation. 2. The BB indicator appears to be in a flat position, indicating that the consolidation price pattern is considered valid. The current decision is not supported by market conditions. 3. The 10-period MA indicator appears to be in the middle BB area, indicating a non-dynamic situation for price action. 4. The MACD indicator shows a shrinking bar condition and is trying to be above level 0. Technical price action: 1. The intersection of bullish and bearish trendlines indicates a fairly clear situation where buyers and sellers are currently experiencing a consolidation phase. 2. Analysts tried to take steps to draw Fibonacci lines in a bearish direction because gold's bearish tendency was quite dominant the previous day. 3. The 100 Fibonacci level is a breakout level for bearish trends. Meanwhile, the 0 Fibonacci level is a breakout level for bullish trends. 4. The nearest support and resistance, which are the price movement areas, are at the lower limit at level 3381.24 and the upper limit at 3396.13. SBR level 3408.46. 1. Support is determined through Fibonacci 161.8, namely at a price of 3372.17. Conclusion: Currently, there is no clear decision regarding the direction of trading, which is tending to narrow. Therefore, it is safest to wait for a breakout to establish a clear direction. Technically, indicators and price action are still considered insufficient to support this trend. Trading recommendations: 1. Buy waiting for a breakout when the price is above 3396.13 with the nearest bullish target of 3408.46. 2. Sell waiting for a breakout when the price is below the 3381.24 level with a bearish target of 3372.17.