Ikhtiar Trading Jurnal

Today I attempted to sell gold with a stop-loss order placed at 4062.39 and a take-profit order at 3957.68. Gold on the M15 timeframe: A closer look reveals that the recent candles show a small consolidation pattern in the lower area, which could be interpreted as an accumulation phase before the next decline. Relatively stable trading volume in this area indicates that some market participants are awaiting confirmation of the next direction. If the price manages to break through the support level near the take-profit target, the chance of continued weakness to the next support area increases. However, if the price rebounds and breaks through the 200-day moving average (MA200) with a strong candle, this could signal a potential trend change.

Today I attempted to sell USDCAD with a stop-loss order placed at 1.4001 and a take-profit order at 1.3964. USDCAD on the M15 timeframe. The price structure shows a double top formed before experiencing a significant decline. This pattern is a classic indication of a potential bullish to bearish reversal. After the sharp decline, the price attempted a retracement but was again held back near the moving average line. This pattern often signals a market in a distribution phase, where major market participants begin to unwind their long positions and push the price to continue its gradual decline.

Today I attempted to sell USDJPY with a stop-loss order placed at 152.89 and a take-profit order at 152.50. Technically, USDJPY is forming a pattern of lower highs and lower lows on the M15 timeframe, indicating a trend change from neutral to bearish. Long bearish candlesticks reinforce the signal that market participants are starting to sell more. A decline below the moving average indicates a loss of buyer power to maintain the price above a certain psychological level. While small upward corrections may occasionally occur, as long as the price remains below the red line, the potential for further decline remains substantial.

Today I attempted to sell CADJPY with a stop-loss at 109.38 and a take-profit at 109.06. On the M15 timeframe, CADJPY attempted to break above the resistance area several times, but each rise failed to form a strong higher high. This situation suggests that market participants were still hesitant to maintain long positions at the upper levels, leading to gradual selling pressure. After several tests, the price finally broke below the moving average line, followed by the formation of a fairly firm bearish candle. This momentum indicates that sellers now have short-term control of the price movement. The price's position below the red line reinforces the suspicion that the short-term trend is shifting to the bearish side.