AUDUSD - Downward trend will continue, Short trade by market price recommended
February 7, 2019 9:02:32 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.7065)
-50 p
0.7150
Stop Loss
0.7100
Entry
+44 p
0.7055
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- The Current Ratios indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
- The Ratios indicator shows the change in the ratio of market players towards buyers. Their increase while the downtrend may indicate the activity of averaging traders. This can serve as "fuel" for further downtrend.
- The last upward movement was characterized by a “surge” in retail buyers. This is a good reason to start thinking about short positions.
- The Profit Ratio reversal indicator doesn't react on downward movement. This means that the movement is not fake.
- We are putting our take profit at the bottom of the profitable buyers zone.