The market has stabilized, the first signs of a downtrend appeared
January 30, 2019 7:24:23 AM
Forecast Details
PairAUDUSD
Direction
Sell
StatusClosed (0.715)
-30 p
0.7180
Stop Loss
0.7150
Entry
+30 p
0.7120
Target 1
About Author
Alexander Zorevyk
Expert
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Chart & Analyst Comments
- Majority of traders are still holding onto Longs. This means we should continue to Sell AUDUSD.
- 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.
- In the left orderbook, we see a cluster of stop losses and stop orders right at the level of the previous bottom. This is a good level for placing take profit according to our forecast.