AUDJPY - Downward trend will continue, Short trade using pending order recommended
February 14, 2020 7:38:30 AM
Forecast Details
PairAUDJPY
Direction
Sell
StatusPending
-119 p
74.60
Stop Loss
73.40
Entry
+120 p
72.20
Target 1
About Author
Patrick Yang
Expert
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Chart & Analyst Comments
- The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The dynamics of the Ratios indicator signals for Short opportunities. Pay attention to the area marked on the image.
- In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
- MVP line is above the price and acts as a resistance level.
- Stop loss should be taken out of the buyers cluster. If the price passes it, it will likely go on.