HAPPY KILLER TRADING JOURNAL UPDATE ON GOLD PAIR *Strong bullish potential Gold is seen to have momentum where bullish movement is the main sentiment at this time, this estimate applies from several important confirmations, especially seen from the dominant bullish candlestick formation as a sign that the bullish trend is in effect. Therefore, referring to the conditions seen at this time, it is quite relevant as a momentum where the bullish trend becomes a recommendation.
The technical analysis that has been summarized by the author is as follows:
1. The 15-minute interval is a short-term trading recommendation. 2. Support resistance level: • Valid support is at the price level of 3269.05.
• Confirmation support is at the price level of 3286.23.
• The potential RBS level as the nearest bounce is at the price level of 3308.23.
• The nearest resistance is at the price level of 3338.48.
• The next resistance is at the price level of 3348.46. It should be understood that gold is currently strengthening so that the bearish momentum that is currently close to the resistance level is not a recommendation. So, continue to be guided by the entry confirmation to minimize the risk of loss.
3. Price movement: The option where gold moves bearish is very unlikely because the situation regarding the response of saturation by buyers will only provide small pressure. So, when there is a seller reaction at the resistance level, the bearish possibility is only a correction. The bullish momentum is considered quite strong at this time because the dominant buyer is quite high and can be measured through the intensity of the bullish volume based on the shape of the BB which is expanding in a bullish direction. Thus, if referring to following the trend direction, it is better to focus only on bullish opportunities.
4. Transaction strategy: • The sell option is only valid when there is a reaction on a lower timeframe (scalping) at the price level of 3348.46.
• The buy option is the main recommendation where the re-entry opportunity is at the price level of 3308.23. Disclaimer: Signals may change according to breakout conditions at each level that has been analyzed.
